Global Security Headlines

Monday, July 11, 2011

The #EU Down for the Count

GSM has assiduously followed the dizzying downward spiral of the European Union.

The fundamental weakness, above them all, is the inescapable truism that socialism is a failed economic theory.

The faux union of Western and Central European states is now naked for all to see.

The second Greek bailout has spurred the contagion across the Old Continent as Ireland, Portugal, Spain, and now Italy (the second most indebted economy in the EU) weigh on investors.

The invisible hand may be constrained, but in the end, the laws of economics cannot be denied.  The market will out.

The evaporating EU cannot be saved if Spain or Italy cede to international investors and German and French taxpayers cannot cough up the euros for the collapsing EU dream.

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