Opinion: (Gideon Rachman, Financial Times columnist): “Europe has bought itself time with its €750bn bail-out for the euro. But the long-term problem remains.

“Most of the European Union is living beyond its means. Government deficits are out of control and public-sector debt is rising. If European governments do not use their new breathing space to control spending, financial markets will get dangerously restless again. Unfortunately, European voters and politicians are simply unprepared for the age of austerity that lies ahead….

“Yet if Europeans do not accept austerity now, they will eventually be faced with something far more shocking – sovereign debt-defaults and collapsing banks. For many Europeans that is the kind of thing that only happens in Latin America.…

“The growth in the size and power of the EU has fed a dangerous sense of complacency.… Once they [the countries] were inside the EU, it was felt that war, dictatorship and poverty were safely consigned to the past. Everybody could aspire to the relatively comfortable, stable lives of the French and the Germans.”

My Comment: This has been long in the past. A grudge existed initially because no one wants to pay the debts of others; the “war of nerves” is constant, which has no place in a single organism. Tension (an abscess) is brewing, which can cause aggression (the opening of the wound). We shall see this in the near future. The EU has to be brought to a complete unification which is possible only through educating the population for a long time, or it is better to separate peacefully now before the bloodshed of a third world war begins.
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