Europe and its debt

World finances seem to be in deep crisis especially in Europe as the debt crunch and fiscal irresponsibility has taken its toll. Greece has been bailed out at the last minute by Germany and others while other countries teeter on the brink of default. Everybody is talking about this and nobody is going to the root of the problem. In many cases productivity in the private sector are very low and the collection of taxes is lax. In Greece there was widespread tax evasion by wealthy Greeks or so the rumor went. The government continued to float bonds as a way of getting money to pay for its services. These bonds had to have high yield to attract investors. The government then floats new bonds to pay for old bonds and the process never seems to end. Spain and Portugal seem to be next on the hit parade as they teeter on the brink. It seems funny that almost every country in Europe that has a very small Jewish population is on the brink of financial disaster. Spain Portugal Italy Hungary have no Jews to speak of as France England and even Germany seem to be faring a bit better. The last three have Jews especially France and England. The others killed or deported the Jews at some point in their history. There is also a huge amount of private debt accrued by irresponsible individuals. They are all seeking debt management solutions. It’s a huge mess.