Outrageous

As some countries are barely escaping national bankruptcy, they are accumulating a mountain of debt, and this is evidenced by remarkably bad economic data. All of this has shown that the Europeans’ management in the financial crisis is anxiously frowned upon: One must already have a pretty good friendship with the United States, so that the most recent financial submissions to their president will not be remembered as full-blown infamy.

Barack Obama is up to his neck in water, economically and politically. The ideal thing would be to initiate a red herring. Specifically, however, this points nearby to Italy and Spain and basically invites the financial market to speculate against both EU countries.

U.S. Treasury Chief Timothy Geithner will attend the next meeting with his EU colleagues in Warsaw. So this is good! The most important industrial nations must now pull together to get a grip on their common problems as a result of the financial crisis. However, if anyone among the Europeans stipulates “forceful measures,” then they must be prepared to tackle an economic problem, such as the overdue regulation of the financial markets.