Opportunity or High Risk Undertaking?

The Europeans have adopted an appalingly dangerous strategy by making what are in effect open-ended commitments to support profligate members, no matter hat their financial or monetary 'sins'. The stakes are extremely high, and they unwiisely have left no room for manoever.

What is now indispensible is the timely creation of the requisite financial and fiscal infrastructure to support the huge Eurozone commitments that have been made under the pressure of market and lender panic.

There is therefore scope for laying soilid foundations for Europe and at the same time ample opportunity to once again fail to create the proceedures, policies, and regulations backed by effective sanctions and penalties for those who insist on behaving irresponsibly. The need to control or restrain even the largest offenders makes makes the tadk challenging and difficult given the evasion and obfustication to which many European national 'leaders' are adicted.

At present, it is not clear that European 'leaders' are aware of the full implications of the decisions made involve. the Eurozzone needs a little luck. to make the great risks taken pay off.


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