How much is too much?

On a dull, wet, gloomy summers day in Ireland I watch the evening news and hear that the Spanish government is on the verge of asking for assistance from the powers that be to help them stabilise their banking system. I’m not an economics expert but I know a little bit about how this banking crisis that has hung over the world and Europe in particular for the last 5 years like a great big rain cloud that seems to be going nowhere, just like the ones that hang over me in the sky as I write this post is getting us all down. We here in Ireland know about this kind of situation more than most, then Greece who were thrown into civil unrest and faced a complete meltdown due to complete lack of responsibility by their whole government who many perceived as downright corrupt. We, or should I say the reckless fools who run the countries banks, had to be bailed out by the IMF, ESM or whoever it is that writes these great big cheques out to the tune of 80 billion euro. The Greek government needed something of the same to keep their heads afloat. Now if Spain’s banks need to be bailed out I’m sure it will need a lot more than what Ireland or Greece needed as it is a far bigger country with a far bigger economy. The question is this, where does this never ending need for tens and hundreds of billions end? Surely if more and more countries have to go down the same road something somewhere is going to have to give and there seems to be no ending in sight. What if France or Germany ended up in trouble? they seem to be the ones making the decisions on whether the other countries get their bailout. We all know Europe is a highly modernised group of nations where colonialism was born and its tentacle’s spread far and wide to shape the world into what it is today but our currency is still only in it’s infancy and it’s future is constantly being brought into question. So how much can it take, how much can we take. Will this raincloud ┬ápass in the near future or ever at all for that matter?

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