Karl Smith
Thank you.
I am often wrong, but am pleased when somebody corrects my views with facts that can then alter my views.
I live in the eurozone. I like it where I am and believe that the EU has helped dramatically increase the local standard of living, even though here, as everywhere, people complain about the same things we've always complained about (inflation, government regulations, etc).
I believe that not just the eurozone, but other members of the EU outside the eurozone and the USA and Japan are all in a very dire situation.
It's not just serious; it's a genuine global crisis (at least in the world as we know it) with lots of very frightening possible consequences.
To tell the truth, I am far more concerned about unsustainable levels of sovereign debt throughout the 'western' world than I am about the symptoms shown in the present hysteria.
The symptoms are continuously being discussed ad infinitum, the real problem of unsustainable debt keeps being swept under the carpet.
The conflict between the perceived need for exponential growth (even at low figures such as 2% which grow to a huge amount over time) supported by increased debt needed to pay for the increased growth needed to pay for the increased debt is, to me, like a hamster running round a wheel in a cage faster and faster; sooner or later that hamster is going to die from complete exhaustion.
I just want enough food and shelter and the peace of mind that I can afford to drown in a nice EU wine lake if things get too bad!