THE CURRENT DEBT CRISIS IN THE “INNOCENT” EUROPEAN UNION AND ITS FUTURE DILEMMA

The Current Debt Crisis in the “Innocent” European Union
and its Future Dilemma

by

Ioannis N. Kallianiotis, Ph.D.
Economics/Finance Department
The Arthur J. Kania School of Management
University of Scranton
Scranton, PA 18510-4602
U.S.A.

Tel (570) 941-7577 –  Fax (570) 941-4825
E-mail: jnk353@scranton.edu

ABSTRACT*

.        This small article tries to explore the recent economic history of Europe and to examine the debt crisis and some of the problems that the “innocent” European Union has created to European citizens. The most severe ones are the uncertainty that this controlled union has generated to Europeans; then, the social chaos, which is increasing every day, the economic and political corruption, which is underrated by the officials, the tremendous debt crisis of its member-nations and their citizens, and lastly, the reduction in its growth (recession) and the enormous unemployment. Europe has a seven thousand years old history, which comes from ancient Greek civilization and is complemented by Christianity. It experienced many difficulties, conflicts, and invasions by barbarians and other neighboring countries, but it resisted and averted them. At the same time, Europe’s (mostly, Greece’s) many good periods with great contributions to the global scene are recorded. Even though it had two world wars, its nations and citizens enjoyed huge growth, autonomy, development, improvement, autarky, progress, and preservation of their indigenous social values. After WW II, some people decided to integrate the entire continent into one union, but their suspicious objectives are not known to us. We see lately, that this prototype of globalization (global enslavement), the European Union, has destroyed the sovereign nation-states and it is rulingun democratically an entire continent. The future dilemma will be that its economic and social policies will be unable to satisfy any welfare functions for the Europeans, like justice, fairness,allocation, equity, stability, distribution, social services, efficiency, homogeneity, security, sovereignty, independence, self-sufficiency, democracy, and the inherent Christian-value system. EU has lowered the European indigenous (native) cultures to a sub-multi-culture of discord, contrast,antagonism, struggle, waste, dependency, and apostasy by forcing its leaders to accept all these millions of illegal immigrants to cross the Mediterranean Sea, which will extinguish its identity.

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