Reply #34: Regardless of the current economic recession...

[MellowDem]

Europe has been having issues for a while now. The recession just made those problems worse. It's not neo-liberalism that is to blame for the big problems, but rather mismanaging their socialist economies and welfare programs. Not to mention unsustainable demographic changes. Even before the recession, much of Europe couldn't afford their social programs and have been having to cut back somewhat.

Lack of regulation in the financial market definitely played a role in this scenario, but it's not the only problem. We can regulate the financial market so this never happens again, and the main problems for Europe will still be there.