Eh…yes stupid. Nanny state socialism does eventually lead to the breakdown of society, it’s just that the Greeks, Spanish and the Portuguese flung themselves further down into the pit than previously imagined. Europe is broke, and they don’t have the stupid Chinese to buy their worthless paper like the Yanks. KGS
“Foolish, frivolous spending by socialist governments on ever expanding and unaffordable entitlements that cannot be paid for has finally caught up with Europe; it will bring down more than one government there in the days ahead. It is a sober lesson for the U.S. Shame on EU governments that have made people think that the array of social benefits at public expense could be provided at no cost … the piper now wants to be paid, and it is quite a bill! European politicians seem surprised that their irresponsible actions are now unraveling.
People cannot obtain something for nothing as they have been told by politicians for so long. Unfortunately, the masses are now so used to feeding at the public trough that they are addicted to it … still unwilling to give up anything even when it is quite clear that such entitlements cannot be sustained. The truth is that self serving politicians have known that all along. The complete bankruptcy of their policies has come home to roost!”
Democracy could ‘collapse’ in Greece, Spain and Portugal unless urgent action is taken to tackle the debt crisis, the head of the European Commission has warned.
In an extraordinary briefing to trade union chiefs last week, Commission President Jose Manuel Barroso set out an ‘apocalyptic’ vision in which crisis-hit countries in southern Europe could fall victim to military coups or popular uprisings as interest rates soar and public services collapse because their governments run out of money.
The stark warning came as it emerged that EU chiefs have begun work on an emergency bailout package for Spain which is likely to run into hundreds of billions of pounds.