I have to laugh at those that say the Euro (and one assumes the EU) needs to end and countries go back to their individual currencies and financial and economic policy making as if this ultimately solves the problem. It doesn't. All these countries would have their own Central Banks. All, like the UK, would print money at the drop of a hat to resolve a credit collapse. This would be inflationary and clearly devalues money already in circulation. Ultimately the problem is not the Euro or any single currency, it is the credit based inflationary money system that has been imposed upon us by banks, central or otherwise. The lack of sound money principles destroys all currencies.
The people of Greece may well have voted against austerity, but have they voted for a return to the drachma, 50-70% devaluation, destruction of savings and investments, inflation on a massive scale, and a debt default which would result in no trust in lending to them again? No, they voted against bailing out bankers, but there is an acute lack of understanding of the consequence of these actions given financial system that exists. The Greek socialists aren't going to introduce socialism are they? They even want to stay in the Euro, they just don't want to pay the price for Greece's profligacy in the past. There again, in this financial system, no one wants to pay the price do they?
