The EU is now saying that UK should help pay for Euro mess because it's a debt problem and not just Euro!!!

This is a direct translation from the Suddeutsche Zeitungs news paper in Germany.

This is exactly what I warned about months ago !!

The debt crisis is a problem in all EU countries, not just the euro-zone, EU Commission President Manuel Barroso will. Even countries like the UK should therefore participate in the rescue of Greece, he asks. It is in their own interest. Is difficult to convince the London: Foreign Minister denounced the Hague € recently as "madness".

"It was madness to create this system, for centuries it is written as a historical monument to collective madness". This sentence said a few days ago, British Foreign Secretary William Hague, the political magazine The Spectator .

Jose Manuel Barroso, 2011Enlarge

José Manuel Barroso in September 2011 during an interview in the Süddeutsche Zeitung editorial (© Alessandra Schellnegger)

Hague's words are unusually dramatic, but they reflect a fundamental skepticism of London against the idea of ​​European unification, which prevails in the Festlnd. And one can easily imagine how the most recent initiative of the EU Commission President Jose Manuel Barroso on the euro rescue where he was admitted.

Barroso wants to participate in all EU countries in the rescue of Greece. "I would hope that all countries provide support if they have the financial means to," said the President of the European Commission of the image -Zeitung. Barroso explicitly closed while those States which are not members of the Euro-zone, such as Great Britain. The hoped-for successes in their own interest and solidarity is a self-protection. "If the euro is tottering, that all countries in trouble - even with its own currency. "

Potential financial consequences for Germany as part of the bailout received guarantees for Greeceand other debts of the EU-Commission considers reasonable.It could be that Germany "exercise as the biggest economy of Europe in their own interest to keep the Euro, our economy and jobs solidarity" would have said Barroso. "But that is manageable in comparison to what we would flourish if the euro is falling apart."

Barroso pointed out that Germany went through the loans and guarantees for debt-€ countries so far not lost money. Nevertheless, he understood the concerns of the German tax payer. "But you also have to say that Germany, as Europe's biggest economy will benefit most from the euro."

Euro group chief Jean-Claude Juncker holds a debt of Greece to cut imaginable. "I will make a debt-section is not made. But you should not think that it's enough simply to make a brutal debt section in Greece. We must ensure that this does not lead to contagion risks in the euro zone," said Juncker, the Austrian TV channel ORF.

About the size of a debt-section would not speculate on, Luxembourg's prime minister. The European leaders were the situation in the crisis-ridden Euro-member country continue to debate.

Marko Kranjec, Slovenia's central bank chief and council member of the European Central Bank (ECB) is expecting a debt restructuring in Greece, but not with a state bankruptcy. "I am confident that Greece will not go bankrupt, at least not in the sense that there are other countries is taken into the abyss. A restructuring is highly probable and is already being discussed, "said Kranjec. "The euro will survive."

This Tuesday, the eyes are directed to Bratislava. There, the parliament of Slovakia will decide on the enlargement of the euro rescue package. Following approval from Malta only has approval from the Slovak. The referendum should end with a No, the extension of the rescue EFSF not be implemented.

In case of rejection also threatened a premature end to the government. However, it could in the Slovak Parliament in a no a second time to vote on the bailout. A crisis meeting of the Council of four government coalition parties had gone on that Monday evening without agreement on the euro rescue package to end.

Meanwhile, also expressed this year's Nobel Prize for Economics for the euro crisis. "Europe and the euro are not the economic theory with new questions, the problem is politics, "said U.S. economist Thomas Sargent. He shares the Nobel Prize with colleague Christopher Sims.

As a possible way out of crisis struck Sargent from the countries of the Euro-zone, take the story of the United States as an example: After its independence in 1776 had the 13 U.S. founding nations resolved their respective debt crises by pooled their budgets under a new federal government have that could counteract with their own tax policy.

These steps are primarily a bold political decision dar. "We were born with a decisivesolution to the problems with which Europe is facing today, "said Sargent. "It all happened simultaneously, using a process that looks like a miracle." Something similar could also create Europe. Sargent also mate Sims pleaded for a common fiscal policy in the euro zone. The exclusion of weak euro-zone countries is no solution to the problem € said the 68-year-old American economist.