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The current EU crisis is political - all about sharing losses.

The problem is that, as we know, sharing is only possible when economic growth is sufficient to mask the extent to which the sharing is unfair. In the middle of the biggest economic crisis since the 1930's, people are in each-man-for-himself mode and the EU has deliberately downplayed the political aspects of European integration for the past 15 years.

The brainless should not be in banking -- Willem Buiter

by Migeru (migeru at eurotrib dot com) on Thu May 6th, 2010 at 07:18:45 AM EST
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