The Euro-Zone austerity policy has protected the wealthy and ignored the rest. Now, 5 years after the worldwide credit bubble burst, every eighth person is unemployed (bloomberg/news/2013-08-30/euro-area-unemployment-rate-holds-at-record-12-1-amid-expansion.html?alcmpid=breakingnews). The EU and the Euro-Zone were created to bring political stability to historically nearly continually warring Europe. If this unemployment rate continues, if the euro-zone continues to refuse stimulus spending, what will happen next? American exports to Europe will markedly decline, and, let us hope, that Europe will avoid violent class warfare. What can we do, and what should we do? America cannot afford to fund a new Marshall Plan. So, perhaps, our best course of action will be to withdraw from Europe – withdraw both our investments and our military forces.
Posted on: Fri, 30 Aug 2013 12:12:59 +0000