These two pieces point out very well the source of the crisis that I think is only get much, much worse.
From the Times of London and Paul KRUGMAN in The New York Times.
The euro countries and populations simply don’t think much of one another. Believe me, as we read about continued problems in the Balkans, Israel et al, in Rwanda (today) and all of the “troubles” that our Ireland continues to face in just getting people to get along, this takes generations and maybe never happens. Think of the US and how much latent racism and other divides persist all around us.
In any case, the intra-Europe dislike/hatred is heating up now in very negative ways and I think it is going to explode on streets and around many kitchen tables in many places in Europe in coming weeks – and then in voting booths and elsewhere. Governments in Europe will face challenges ranging from confidence to collapse.
As KRUGMAN points out, the kinds of things that have to happen simply are too much for people to swallow voluntarily and there is no one other than chaos to make them do it.
It’s an extremely dangerous situation.