Europe’s Debt Crisis, The Free Market vs. the Total State
On November 22, the New York Times published an interactive chart on which governments owe how much money to which foreign nation’s banks. The chart reveals the fault lines in Europe’s economy. The debts are owed above all to French banks. The biggest debtor is Italy. If Italy defaults, France’s largest banks go down. Overnight.
On Monday, November 28, there was a Financial Times article speculating that the Eurozone has less than two weeks to survive. The headline: “The Eurozone really has only days to avoid a collapse.” It was written by an associate editor of the publication.
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Crisis, debt, Europe's, Free, Market, State, Total
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