Just over six months ago the following clip provided the most succinct explanation of the European crisis. It seems after this weekend's debacle and today's market wake-up call that a reminder is needed. Perhaps summed up best by the following interchange, this is five minutes well-spent:
Where does the money for the bailouts come from?
All the governments in Europe including Greece, Italy, and Spain.
And who is allowed to receive money from it?
All the governments in Europe including Greece, Italy, and Spain.
How can that possibly work?
It can't, but Europeans like bad ideas that sound nice!