Beware of Greeks Bearing Bonds

> These structural problems
no these are structural problems of the EU.

imagine you have a set of countries who all share the same currency, and aren't allowed to issue this currency.

it logically follows that for any one of these countries' economies to grow, if new money isn't being created and spent by their government, then they all must export more than import.

they are all each other's major trading partners, and they all must run export surpluses against each other to be financially solvent.

it is obvious that there are going to be winners and losers in this arrangement and it is those European economies that have specifically been tooled to become manufacturing/export power houses that will come out ahead.

you end up with a situation where deficit economies in the EU have had for decades permanently stagnating/shrinking economies and shrinking public sector budgets, resulting in the rise of political monsters throughout europe.

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