The G8 Should Speak Out Boldly on the EU's Problems!

[JimofPennsylvan]

The G 8 meeting at Camp David should come out with a call to action or the European Union because the EUs economic problems are rippling through the world economies with bad effects. This call should contain the following points. First, the European Union countries which are really struggling have to take their medicine stop the huge deficit spending; largely what the EU is asking of these countries is clearly fair and responsible countries in the modern world can't afford wasteful and unnecessary spending and these countries need to fix these problems now so their futures will be good. Secondly, with respect to the Greek people they need to be sternly told they have structural problems which they have to fix this is not negotiable if they want stimulus help from the EU the EU should tell them their give them all the stimulus spending they want to build prisons for their tax evading citizens especially wealthy Greeks tax cheats. Thirdly, the G8 should call for the EU to help some of these EU countries which are either in recession or on the brink of recession by using the ECB to buy these troubled countries bonds at low interest rates and save these countries big interest expenses if this requires the ECB's charter to be changed so be it and this will bring about some devaluing of the euro and so be it. Consider that today the U.S. devalues the dollar by Federal Reserve bank buying U.S. treasuries and anybody with any claims to good judgment and competent analysis will have to conclude that five to seven years down the line maybe sooner the U.S. Central Bank is going to have to buy treasuries in massively increased amounts than it does today because if Mr. Obama is reelected the US will have trillion dollar deficits for the next four years and if Mr. Romney wins this year's Presidential elections with his tax cuts for the rich and businesses and his planned increase in defense spending the U.S will have yearly budget deficits in the three-quarter of a trillion dollar range; the bottom line here if the U.S. the largest economy in the world is and will be big-time devaluing their currency to stem recession why doesn't the European Union your a bunch of fools not to! Lastly, the one thing that kind of and should move decent people to be bothered about the austerity measures some EU countries are being required to implement is the unemployment this causes young people some of the numbers for some EU countries are upsetting these young people want to work they are just embarking on their adult life and they should be able to get work, the system is failing if it doesn't give help here. This problem coupled with the reality that the world is economically really hurting now with the America's great recession and EU countries overextending on their borrowing and the pricing bubbles etc. and the good assessment that in three to five years world economies will be in much better shape and employment opportunities especially for the young will be much better. The point here is that these troubled EU countries for their young people just got to get through the next three years and the European Union should help these young people in the EU by putting together a job's program for them provide a modest income for them let them be teaching assistants in schools, do light construction work, do farming work, etc. and pay for it with a small fee for just a few years like three to seven years on investment transactions, that is, the buying and selling of securities and the like. Something has got to give with respect to the EU help the EU to get out in front of the problems by following the aforementioned suggestions!