Opinion (José Barroso, President of the European Commission): “‘This crisis was not created by the European Union. This crisis was created by unsustainable public debt created by national governments and by irresponsible financial behaviour tolerated by national supervisors,’ he says. ‘The European Union is a victim of the crisis, not the cause of the crisis. We are not the problem. We are part of the solution.’ …

“‘Sometimes in the debate this is presented as a crisis of the euro, which it is not. The reality is that countries that are not in the euro are some of the most affected,’ he says. ‘For instance, the country that has done more to mobilise taxpayers’ money in supporting the banks was Britain, not a euro area country. Or let’s not forget the case of Iceland.’

“Austerity, he argues, has also been erroneously characterised as a European policy.

“‘Some people try to link the policy of rigour in public finances to the euro. This is a myth. Britain is having the most restricted budget since the second World War and Britain is not a member of the euro. It’s true that financial stability in the euro area, because of the differences among the 17 countries, raises specific challenges and that is what we have been trying to address.’”

My Comment: Not entering into a discussion with Barroso, we can say that there are objective laws of nature. To the extent of similarity with them, we win, and to the extent of our difference with them, we lose. And the more we develop, the more we feel either reward or punishment for the extent of our likeness to Nature. Excuses will not help us. It is possible to hide from criticism temporarily, but as Russia is paying for its “socialist” past, Europe will be paying for its incorrectly created unification for a long time.
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