Will Europe Make It Through The Crisis?

europe5In the News (from The New York Times):Growing Economic Crisis Threatens the Idea of One Europe” The European Union is struggling with the strains this crisis has inevitably produced among 27 countries with uneven levels of development. The traditional concept of “solidarity” is being undermined. An urgent call from Hungary for a large bailout for newer, Eastern members was bluntly rejected by Europe’s strongest economy, Germany, and received little support from other countries.

My Comment: This will only accelerate the crisis and help people to overcome it faster, because the egoism of the Old Europe towards the New Europe will be revealed faster.

In the News (from BBC News):UK interest rates lowered to 0.5%” The Bank of England said it would expand the amount of money in the system up to £150bn. The bank will buy assets – such as government securities (gilts) and corporate bonds… Ian McCafferty, CBI chief economist, said the continuing rate cuts were “becoming less and less effective as a means of stimulating the economy.”

My Comment: Now there’s more “paper,” but less bread. I recently heard a very respected person say, “the Armageddon is coming.” This bitter joke reflects people’s feelings of being helpless when looking to the future, and that’s because they lack information about the one and only solution to the crisis, which is actually very simple!

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