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Originally Posted by mrmistoffelees
And that's the EU's fault because........
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Well they, as we, and the rest of the world were all complicit in the financial crisis, Spanish, Italian and Greek banks were all hugely over leveraged - and still are.
The single currency of the EU was a big factor in this, and probably should have failed at this point but in order to ensure it didn't fail huge austerity was forced onto Greece.
At one point it was even suggested appointing a German EU commissioner to over see the Greek financial issue.
http://the-greek-tragedy.blogspot.co...1_archive.html
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Germany has suggested that a European commissioner should take effective control of Greek fiscal policy to ensure the country accepts austerity. Evangelos Venizelos, the Greek finance minister, rejected that plan, saying it would undermine Greece’s “national identity and dignity
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The EU has no regard for sovereignty. But neither is it a federal system.