By Jason Moore
OUR financial crisis has come from the United States; it is their fault, European leaders have been saying all week. So Europe is not to blame for anything and we´ve just got to weather the financial tsunami which is coming across the Atlantic. I know it is modern to blame the U.S. for everything in the present and Britain for all the ills of the past but Europe is not blameless in this financial scandal. European banks invested heavily in the United States and when things went wrong they ran home and asked the government to bail them out blaming the Americans. Europe relies so heavily on the United States that economies here will not recover until the U.S. is back in good financial shape. Instead of blaming the Americans, European leaders should be working with the U.S. to try to find a way-out of this financial crisis which has been caused by cheap credit and banks lending money to people they shouldn´t have. The time for the blame game will come later when things return to normal but until then a united front is needed. There is not a single politician in Europe at the moment who is blameless; from Gordon Brown to Rodriguez Zapatero they must all face facts and admit that their economic plans were seriously flawed.


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