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Hannan: “The Euro Is The Problem, Not The Solution”

Zero Hedge [1]
June 14, 2012

72 seconds of crystal-clear thought from English MEP Daniel Hannan as he rather poignantly¬†questions European leaders on the results of last July’s European Stress Tests (and the Spanish banks passing with flying colors). In one of the more colorful analogies of the European cataclysm, Hannan describes Europe’s self-dealing bailouts as “a transfusion,¬†taking blood from one arm and pumping it into the other arm” noting that unfortunately, there is also a hole in the tube. You simply don’t solve a debt problem with more debt; as he concludes “the Euro is the problem not the solution”.