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Greece Financial Crisis Raises Doubts About European Union

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I'm sorry Ms. Erbe, but I have to doubt the credibility of your opinions when you claim that all members of the European Union share the same currency. That is false-only certain member countries have the Euro, NOT everyone. Please check your facts or you risk misinforming the American masses who read your blog. Thanks!

Caitlyn of WI 4:04PM May 22, 2010

Having to bail out Greece is unfortunate, and, Bonnie, you're right about the angst other Europeans are probably feeling about their Euro-induced involvement.
However, having said that, I must add that the REAL problem behind any such feeling (and Bonnie's) is the old individual responsibility thing. You make a mistake, your problem, not mine. It's the mine/yours thing, the ours/theirs thing. In my view, it's the failure to recognize the we're-all-in-this- together thing, and as human beings interested in helping stay the suffering of others, we help, not accuse. The Greeks are good people facing the calamity of poor government. They need help. We help the Greeks--even though we SHOULD burden the failed government with a boatload of guilt, even punishment for their failure. When California needs help, Tennessee helps in other words.
The earth is a finite place, Bonnie. We help each other as called upon to do so, then deliver the my-philosophy-is-correct lecture. The mine/yours attitude, at times, is as callous as it sounds in a world shared, problems and all. I'd never want to find myself locked out at the "Pearly Gates" by accident, would you, Bonnie?

Ron W. Smith of UT 4:48PM May 10, 2010

Well ,My perspectively view is that the crisis will caused to the second European Fanancial Crisis .Although the Germany and France given to the loan to the Greece,the citizens of its country may be has the next revolution.Of this cases it needs the new Fanancial Systerm

zhao wang 10:02AM May 10, 2010

You are making an unwarranted assumption that profligate government spending, and not to a fraudulent monetary system, is responsible for the growing international currency crisis.
If you examine how central banks create the money they lend to countries like Greece Ireland, Spain, and the like, you will find that they simply write all money into existence as bank credit on their ledgers. In effect the central banks lend money does not exist, demand repayment of their loans plus interest. Money to pay the interest has not been created by anyone since all money is lent into the economy by the banking system.
Since borrowers must pay the interest out of the existing money supply, their payments leave insufficient money in the economy to repay the loans, setting up a whole series of impossible contracts that cannot be fulfilled, inevitably leading to the collapse of the monetary system itself.
Any banking system based on a reserve monetary theory of money is a fraudulent banking system.

Bill Parks of MD 10:40PM May 08, 2010