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But even more than balanced foreign trade, which is important, Europe still has world-class infrastructure, reasonable educational attainment, a lot of industrial plant left despite the best efforts of thirty years of Thatcherism and probably the least unsustainable energy mix of any industrialised region on the planet.

Quite simply, except direct control of raw materials, all the economic fundamentals range, for the European Union considered as a whole, from adequate to excellent. The crisis simply can't be the result of structural problems that aren't actually there - so it must be a political crisis.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Thu Nov 18th, 2010 at 07:19:26 AM EST
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