>>??? Panem et circenses will come to the northern countries via
>>special eu voting systems,
>>peer pressure from the "group" of smaller countries gov's
>>bureocratic inertia and the tendency to grow.
>>"Take over" in my book relates to being in control/having the *deciding* vote.
>>Not a characteristic I see in the future eu monetary deciding process for paying countries.
>>
>>And the US at the moment is not really a much better place
>>when measured by fiscal responsibility ;-)
>>
>
>It is always a pleasure to read your posts from Europe on the local political and economic scenes. Keep up the good work.

Thx


>That is actually a general remark about the many European members of the UT. Most of our European news is once removed, and lately seems to have a whiff of Euro-resentment. For example, there is a popular theory going around that our current economic problems started in Europe. I'm not smart enough to know whether that's true or not but it's nice to read views from the source.

I have not tallied the figures (knowing that another load of $hit is hidden from being counted
(Freddie&Fannie, Medicare vs. false budgeting and guarantees for countries clearly in need of default))
but my take is that both continents lived on funny money the last 2 decades.
Ballooning numbers gave unreal profits used to keep econmy going and encouraged more gov growth.
The US housing crisis was cleverly exported to some european banks - and the US was clever enough to
force aid from EU gov by pointing out some of their banks would be helped...
Both continents have needlessly blown up their debt. Europe is "guilty" in one sense as they
are afraid to let one or two countries default and those can be blackmailed / speculated against easyly.
Building a united front would curb such speculation, to worsen the situation long term -
when debt has risen to levels gov cannot declare umbrellas against.

But from curretn ability the power to pay off part of the debt
(without ratlling any arms europe has not nearly enough to rattle loudly)
I'd say europe is more solid for the next 3-5 years.

That means our debt level will rise less in oldspeak ;-)

When US will get around and try to save, they willl be more nimble and
surpass europe again, if that is an US common idea - we are partially ossified.

my 0.0001 DM (to show that I am not always current...)

thomas