there are other countries that are uncompetitive. part of the issue is europe hasn t done much structural reform in the last ten years. i think the core of europe germany at the center is very strong. the germans are incredibly competitive. the french could be more competitive by making moves that would be relatively easy. europe needs a hank paulson. there needs to be one integrated policy and wealth transfers. that s a deep question. it goes to all the cultural differences between this group of nations. it s a huge issue that as zanny said europe has been kicking down the road at every possible juncture. i do think if greece goes out and there s a fundamental insecurity about what is this currency going to be that s going to come to a head. let s balance it the other way with if suddenly merkel says we re writing all the debt
debt down in 2010. instead they kicked the can down. this is not a systemic immediate problem to europe in the way that it was a few years ago. if greece goes out of the euro now it will not wreck the euro overnight. what it will do is introduce a corrosive uncertainty that at some point will become a real problem again. because there is a fundamental tension in the euro. it s supposed to be irrevocable, so once you join it that s it you re there for good but it s also supposed to be based on rules and discipline. the way this greece drama ends will determine which of those things is more important. fundamentally does the problem ken has talked about, which is the lack of competitiveness in greece, is europe strong enough to be able to carry this kind of forget greece. there are other countries that are uncompetitive. part of the issue is europe hasn t done much structural reform in the last ten years. that s true in some cases. i think that the core of
i think it hasn t hit home christine. perhaps by the end of the week the reality will shock them and perhaps that may effect the vote on sunday. isa suarez thank you. john we are looking at the pictures. this is a country that for five years has been going down this road. i mean it has made promises to citizens it cannot keep. too much debt. the tax base is very small. sort of a culture of non tax payment among the citizens. it is an economy in shambles. and people feel the rest of europe hasn t given them a way out. the ecb has given them a lifeline. the european central bank says we will not give you more money or increase the liquidity until
oppressing the muslims? no. this is the stuff europe hasn t seen in 400 years. this is the mid evil killing of one sect of another. and it is the essence of islamic jihadism, you see it here in the purest way. you see it with hamas. it wants to wipe out the jews. you see it in egypt with the cops. you see he boko haram. this is all over. this is not about what the west has done and imperialism. this is not a pay back. this is the expression of jihadism and we see it tonight. in the most horrible form. ethnic cleansing, ron. does it change the equation about whether to act in iraq or not for this administration? it s hard. i mean, first, this is one of the unintended consequences of the invasion. ironically a lot of these christians were doing better under saddam hussein and
just as an investigative matter. that might require troops on the ground, nato troops potentially to secure the area. that is why it is interesting to think about it as an obama policy towards ukraine and russia. i think you think of it as a global policy. i think europe hasn t bought in. they have a much bigger dog in the fight, the energy market is much more important to european countries. it is easy for us to say sanctions, sanctions. to ratchet sanctions from europe is a big move. investment in russian businesses, accessibility to financial markets and loans and so forth. president has been calling for that. and they did tighten them. i think they can do it further. the president can be more effective in getting european leaders to buy in. it is interesting when you talk about whether the sanctions