Hard decisions needed to stop this runaway train
You don't need a degree in economics -- in fact you don't even need to be numerate -- to realise that the European Union is making a dog's dinner of the economic crisis.
Ignore the financial elements for a moment, if you will, and instead examine the politics, the human relations, the power plays and the general disarray involved here. None of it is looking good. The EU is facing a major test and it is failing it miserably.
The union's leaders appear to be rolling up in Brussels for top-level meetings every second week. Summit after summit is called where we are promised a major breakthrough.