Euro-la-la-land’s Global Threat
The grouping of 17 countries that use the euro as their common currency are sometimes called the eurozone or euroland. I am tempted to suggest that the name of the group should be eurolalaland because of the shenanigans and silly political games that the leaders are playing.
But it is no laughing matter: The bigger, wider, more dangerous issue is that while the eurolalaland leaders play their children’s games of bluff, they are putting the global economy in danger and threatening the lives and livelihoods of billions of people from America to Africa and Asia. Last week both the U.S. authorities and the People’s Daily warned of problems ahead, possible recession in the United States, “tough times” in China.
Equally — although you might say that it is their own funeral, though it will have grave global consequences — the failure of Europe’s politicians and bureaucrats to act responsibly and their growing penchant for blaming and name-calling threatens not merely the eurozone but the whole European Union and the claim of Europe to be a global economic player.