Hi luker et.al

Snippet 1:

"one purpose of the “sovereign debt crisis” is to establish the principle that private lenders are not responsible for their bad judgment.

Comment:

As long as those in power make the laws governing the private lenders, this will never happen.

Snippet2:

"Instead, the peoples of the country who were not parties to the loans are responsible."

Comment:

Those that vote the people into power will be deemed responsible. ALL OF THEM.

That is why democracy, as practiced today, cannot work, imo.

(The E.U. is not even close to being a democratic authority.)

"We live in interesting times"

Good Luck to all!