The Failing Euro Romance

With me it's all er nuthin'.
Is it all er nuthin' with you?
It cain't be "in between"
It cain't be "now and then"
No half and half romance will do! ~ Oklahoma!

The problem with Europe is mostly corrupt bankers. European bankers realized that they could profit in the same manner their Yank counterparts did a few years ago. So they are now successfully threatening to destroy whole countries unless they are given free money.

Beyond that is the inherent instability of the Eurozone structure where the currency was united while the political systems remained totally separate. Each individual country sought to exploit the system to their individual benefit.

Greece needed cash. In the old days they would devalue their currency but locked into the Euro they needed more creative ways (conveniently provided by Goldman Sachs conmen). German bankers needed no risk/high yield investments. Pre-Euro they would have had to finance some North Sea wildcatters. In the Eurozone they could buy high priced Greek junk bonds backed by the full faith and credit of the German Central Bank.

When each country had its own currency, stability was achieved by each drachma and lira finding its own level. Now, stability requires united action where union does not exist.

The half and half Euro romance was doomed in the same way that Ado Annie was destined to leave Will for the next sweet talking man to wander by.

I'm just a girl who cain't say no,
I'm in a terrible fix
I always say "come on, let's go!"
Jist when I orta say nix.

It's scary how the global financial crisis is most crisply described with the lyrics from a 1943 Broadway musical.

Greece (l) and Goldman Sachs banker (r)