Comments by "Scott Franco" (@scottfranco1962) on "Why Europe Fell Behind the United States" video.

  1. The problem with Italy and Greece and perhaps Spain was they saw integration with the EU as free money, and used it to shore up their finances that were overburdened with too large a government sector. You can hardly blame them for this. This was, in fact, the candy dangled by the EU to get them to join. Then the financial crisis came, and to the PIGS shock, they found out that they would actually have to pay back those loans. The fact is that if the PIGSs were not in the EU, it would be doing much better now. I am not saying that should happen. Germany, of all the EU states, should understand well what is going on. Just as Germany absorbed its eastern side, the EU formed itself by passing out money, in the belief it would pay off in the long run. I still believe it will, but then I am not paying for it.
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