#Eurozone crisis fully as sovereign borrowers do require to use taxing power to meet repayment obligations, if not then other nations/nationalities holding bonds would have to use force if it tells on their existence.
Nations have in past faced attacks even without reneging on the obligations, so why not when there is reason, is the whole thing a precursor to war like situation . Don’t think big brothers in
#Europe become so civilized as to forgo and forgive without taking their pound of flash. That’s why can’t understand.
George Soros has wondered why did it take so for the crisis to emerge . The Euro has been in existence for just about a decade. The weaker entities in Euroe behaved like third world countries which borrow in other currencies. Third world countries have always been exploited , will the weaker entities in Europe be spared. so many things not understandable.
Having come thus far I think the big brothers in Europe will have to make the dismantling exercise some what prolonged to avoid their own economies from getting hurt excessively in short run and somehow the USA will be roped in too along with China.