We must destroy this EU in order to save it:



"That opportunity is default and exit from the eurozone, which would allow Greece to begin correcting past mistakes and putting its economy on the path to recovery and sustainable growth. At that point, the EU would be wise to follow suit, by unraveling the currency union and providing debt reduction for its most distressed economies. Only then can the EU's founding ideals be realized."



Here is yet another article about European economic distress and not a word about depleted energy or resource waste. Greece and the rest are broke because the day-to-day waste of non-renewable capital is non-remunerative. To buy fuel for Europe's millions of useless cars both individuals and countries must borrow trillions in foreign currency (euros) and pay pillaging real interest rates. Within this regime the bankers appear to win -- the EU is in effect a collection agency for the banks -- in actuality, everyone loses both inside Europe and elsewhere.



Greek exit from the euro is in name only, as long as the currency exists the Greeks will use it they will gain it by way of black markets/criminals which will undermine the rest of Europe even more than 'contagion'. If the euro dies the Continent will become dollarized, with local currencies (except maybe the d-mark) rendered worthless and unacceptable for overseas' trade.



In the post-Peak Oil age we are now living in there is no such thing as 'recovery' or 'sustainable growth' which are all code words for care-free resource cannibalization. We must husband and conserve what is left of our precious capital or our countries die and citizens suffer ... it is that simple. The waste-based game is over.