Greece

Well, I have to say I like the Greek Government a lot.. Much more than the German government does that is for sure. Shame the Germans (as if!) just cant get that the honor of Greece and the well being of its people came before bending before the banks. The Greeks thought why should we have to borrow to pay just the interest on a loan that is breaking the country and driving the poor to starvation with penury. Good for Greeks to teach us about democracy again and I wish them luck with their referendum. The Greek government has done the right thing asking for a vote of confidence and a mandate to carry on into possibly very uncharted seas that lie ahead. The government will need the people to navigate the course ahead and thus give the EU a shot across the bows that it really needs.

What gives the banks the right to enslave a nation? Those same banks that gave Greece lavish terms and turned a blind eye to the warning signs that Greece was not ready for currency union now charge massive interest on the loans they gave Greece and would keep them broken for decades. Austerity for all after a summer of plenty. Typical.

I think its time the the EU halted and decided just what it was for,  a monolithic generator of rules without recourse to national members law,  monetary union beyond public control. Or, a place that actually has morality and is  democratically responsible to its members? I would suggest Portugal, Ireland, Spain and Italy prove that monetary union was a bad idea and without any real hope of prospering.. Moldova and other new EU nations will prove likewise that a two speed Europe would have been a better idea and the lack of that two speed Europe may prove the undoing of the EU. Unless the Eu adapts to the needs of emergent and fragile democracies who for many years lay beyond the iron curtain and only now are showing green shoots and they are tender then it will kill the green shoots off before they have chance to bloom.

The EU has tried to be too much to too many people and frequently without a mandate from the people it serves. It actually feels the other way around.. We serve the EU and that cannot be right. Greece may be the wake up call it and wee need.  

Time the EU stayed out of the business of trying to be a giant state and balance to America and tried to do its job. A European Union of member states constructed for the benefit of those states. Not Government of those states. We all have our own governments for that.

Further, Central Banks should be held far more to account for the damage the wreak.