Let us take Spain as our recent example: Firstly, one-size-fits-all has been the oh-so predictable disaster in the offing which should have been easily spotted by following simple logic. Secondly, there is no room to address economic problems by employing the standard method of devaluing the currency to aid exports et al.
This week's programme The Great Spanish Crash on BBC2 has revealed a third area of disaster.
It is like when you gift food to starving nations instead of helping them become self reliant.
Spain has taken scores of absurd fiscal
decisions - many of them on the regional level simply because they knew that
they could always fall back onto the good ole EU every time they did something
stoopid.
Spain's economy is much bigger than that of
Greece and so they can blackmail Merkel with their 'If you do not give us
preferential bailout terms - we'll quit the euro and the whole thing will
die.'
Even so ONE HALF of under 25s are now unemployed!
Even so ONE HALF of under 25s are now unemployed!
