The European Debt Crisis Is A Vicious Cycle

Dr. Michael LaitmanEditorial in the News (by Siim Kallas, Vice-President of the European Commission): “Neither the declaration of any country’s insolvency nor its exit from the Eurozone are reasonable measures. If you try to break this vicious cycle by having one of the countries declare itself insolvent, then the other countries, which gave it loans, will be pushed to the verge of bankruptcy. What will happen then?”

Comment: It is impossible for anyone to break their ties with the others. But when the ties are egoistic, whoever goes down takes the rest with him and uses their demise purposefully to save himself.

Therefore, the only alternative is to rise above egoistic, protectionist solutions and begin to act only on the basis of common, global, integral, total dependence and mutual guarantee. There is no other solution. Egoism itself is pushing us to change it.

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