Saturday, June 30, 2012

The Little Engine That Couldn’t

If Europeans holding summits made anything better, they’d be living in heaven on earth.
Europe's Worst Nightmare: What If Euro Can't Be Saved?

Here's a nightmare for Europe's leaders to ponder as they prepare for yet another summit to tackle the euro zone crisis: a bond auction fails in Spain, spreading solvency worries to Italy and beyond and triggering uncontrollable bank runs that spell the single currency's end.
This is the question we DO know people are asking themselves:
Are We Having A European Lifestyle Yet?
I’ve maintained a high standard when it comes to observable economic indicators. My most reliable one is that I know things are becoming most unpleasant when I see well-dressed and dignified middle-aged women in a city like Vienna fishing through street trash cans for mislaid bottles and cans to get a deposit return on. It brings forth fond memories of the super-duper-latex-and-cape-clad-world-spanking Lisbon agenda/strategy summit statement that the world was supposed to be awed by.

Or such like.