Europe at Cross Roads

Well, you all know that a good part of my month long break was spent in Europe. It is really tough to see such amazing landscape and probably World's most beautiful and scenic countries in such a financial mess. It is really a tough world.

There are two different schools of thought on going forward, how this Europe Crisis will unfold. One school thinks that everything will be all right and sane people will take saner decisions, sanity will prevail and we will all live happily thereafter. Then, there are people who are out to prove Newton right (equal and opposite reaction). These people strongly feel that this whole sh*t is going to hit the fan soon and it will all end very badly for Europe. They feel that Eurozone will break, Euro as a currency will die and Europe will need decades to recover and come anywhere close to its past glory.

Now, obviously, there are damn good reasons for both these camps to think what they are thinking. There is a consistent stream of news coming from Europe all the time which can be taken in either positive or negative way. Lets see, Olli Rehn (European Commissioner for Economic and Monetory Affairs) thinks that Greece is 'very close' to the debt deal. He very correctly says that next three days will affect next three years for Europe. In another news, Spain's unemployment rate is now 23%. More than half of Spain's 16 years to 24 years young are unemployed. This is highest in the Industrialized World and this is an Official Figure.

Then, there are rating agencies to add some spice to curry. You can have a look at the S&P Rating of Eurozone countries here. It is funny, these agencies took almost endless time to wake up and realize that the debt issued by many European countries is worthless.

Every now and then we keep hearing about a crucial meeting to solve Eurozone Crisis. Positive statement from Merkel, bad stats from Italy and so on... news keeps flowing, we keep reacting and some influential people somewhere keep making lot of money... (caution: unsubstantiated statement... don't sue me please)

I personally believe in the continuation of World (I don't think World is going to end in 2012... even the movie was bad). What I mean by this is little philosophical and will elaborate more on it in next post...

To be continued...