What's At the Heart of the Euro Zone Crisis?

Tuesday, November 29, 2011

Much of the political turmoil surrounding the euro zone crisis has centered around the question of whether fiscally stronger nations, such as Germany and France, should have to bail out Greece and other struggling economies. German Chancellor Angela Merkel has held the purse strings along with other leaders who have demanded strict austerity measures in those countries receiving assistance. Merkel is under political pressure at home with many in her government feeling that the Greeks, like the German people, should have lived within their means.

But is this moral indignation behind the deepening financial woe? Joe Nocera, op-ed columnist for The New York Times, wrote about the issue in today's paper.

Comments [5]


Seems to be going as planned, Europe wants a single governing body and those smaller countries governments stand in the way! Collapsing their economic stability and turn them into states of the Union

Nov. 29 2011 05:29 PM
Angel from Miami, FL

What would happen if/when Greece starts producing more and Germany or France is having economic problems? Will the Greeks harrass Germans or the French in the same manner or just bail them out? Will the American media be as obsessed with German/French woes or is it just a disdain for the laid-back Greeks that fuels this tiresome stream?

Nov. 29 2011 11:05 AM

"Feel good moralizing"?
Time to review the President's teleprompter speeches of the last three years.
"It worked" in the US?
$15 trillion in debt, foreclosures and high unemployment with no end in sight is a sign of success?
The "shrewdly" wise Treasury Secretary presented a budget this year that was laughed out of the Democrat controlled Senate 97-0.
Is the new economic morality to blame the responsible and endlessly support the irresponsible as the central government grows to unsustainable levels?

Nov. 29 2011 10:57 AM
Marla from NYC

BAD parenting

Nov. 29 2011 09:00 AM
Zaphod B. from Hatfield, MA

6:08am, the gentleman on air now, Joe, did not answer the Greek retirement question, why should Germans bail out Greeks who retire at 50 when Germans retire at 58....

Joe wants to kick the can down the road... The Germans remember Weimar Republic 1920's, and the Euro agreement specifically forbids monetization of debt, unlike the Fed.

Nov. 29 2011 06:16 AM

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