Showdowns that will define Europe's future
This crisis was predicted by the Austrian school of economics, which warned that the euro project was a socialist enterprise and bound to fail. As the blog states, rather than bring Europe together the euro project has driven Europe apart. It has squandered all the good of decades of hard work to liberalize European markets. Now the political elite want to replace peaceful market forces with coercive political mandates, starting with centralized control of banking. It is ever thus. The first goal of all socialist enterprises is to control money and banking. Should the elite succeed, Europe will continue to deteriorate both economically and socially. As the Open Europe blog states, already Germans resent transferring money to Greece and Greece resents German demands for Greek austerity.
The solution is right before our eyes--free markets, limited government, and the rule of law.