Euro Illusion.....

The EU is stating that Greece will need another bailout; this would be the third one for the country since its fall into the Euro Economic Chasm. If the amount of debt that Greece has occurred were limited to its current total of 350 Billion Euros it would take Greece about 175 years to climb out of debt. Of course, this would only be possible if not only does Greece not incur one more Euro of debt but also actually creates from today a sustainable national income that includes a surplus of an average of 3 Billion Euros per annum. These figures are simple and basic, they do not include interest or penalties or fees or other charges; but the simple numbers are enough to show the real horror that is the Euro Zone.
This is just another example of the EU not being the best thing in Europe. It is another argument against the Euro Zone and the EU in general. The EU was a very clever shift from military to political and economic dominance of smaller and weaker countries within the continent. This can be seen from Hungry to Cyprus, and Greece to Portugal. What the 'big boys' did not think about was how much it would cost them to have such dominance.
They are dragging their own economies down with them. Of course in reality most of the economies of the world are not real economies. These economies are illusions based on credit, which is based on debt. This means that all the "wealth" does not actually exist. The reserves are printing money that is backed by the debt of the public and the governments in banks that are listing profits that are based on the future payments of the same debts.
To put this in simple terms for the visualisation of this set up look at the following example. In previous centuries, prior to the 20th, governments were expected to have gold bullion to back up their economies and banks were limited in the amount of their deposits that they could lend out. This restriction was to protect the customers, insuring that the banks would always have sufficient funds on hand to be able to meet the majority demands of the depositors. With the removal of the gold bullion backing of government, the money of almost all countries is literally not worth the cost and supplies of printing it, or simply put...not worth the paper it is printed on. As for the banks, they are now allowed to use a majority of their deposits for loans. In this set up if even a small percentage, as little as 10% in some cases, of depositors were to seek to remove their deposits it would destabilize the enterprise and have a ripple effect on the local economy, thus creating waves in the larger economy.
There are now calls for the removal of the Euro and for countries to go back to their original currencies. The reasoning for this is that there are not true standards that encompass all of the members of the Euro Zone, Cyprus isn't as stable as France and Germany is more solvent than Spain and most of the little countries are drowning. The ironic thing is that little and not so little countries are still standing in line to jump off the cliff into EU purgatory.