Who Are The Wolves?

EU counters market "wolves" after Greek crisis

By Jan Strupczewski

BRUSSELS (Reuters) - European Union finance ministers promised to counter the "wolfpack" of the financial markets and defend the euro before talks on Sunday on ring-fencing Greece's debt crisis to stop it spreading.

The European Commission is presenting to the ministers a proposal for a stabilization mechanism intended to provide a multi-billion euro safety net for other euro zone countries with bloated public finances such as Portugal, Spain or Ireland.

Financial markets have been punishing euro zone members with high deficits or debts as well as low economic growth, threatening to plunge them into Greece's plight.

"We now see ... wolfpack behaviors, and if we will not stop these packs, even if it is self-inflicted weakness, they will tear the weaker countries apart," Swedish Finance Minister Anders Borg told reporters on arrival for the meeting.

British finance minister Alistair Darling stressed the need to stabilize the markets, while ministers from France, Spain, Finland and other euro zone states said they would defend their currency.

"We are going to defend the euro
... we have to give more stability to our guarantee," Spanish Economy Minister Elena Salgado said before the emergency meeting held before markets open on Monday.

The Euro defenders are riding to the rescue!

They intend to save the illegitimate currency of the European Superstate from "a financial market wolf pack".

We can almost hear them say, "Oh, if we could just get rid of that confounded free market, that constantly seeks to undo our Socialist plans.

 How dare the bond market keep countries accountable for our constant reckless spending in an effort to create a collectivist utopia!"

Yes, the next few months should indeed shed light on the wrong doings of Spain, Portugal, Ireland, the UK.

Eventually, the focus will turn to the United States, but only after Europe has had its day at the bond market judgment seat.

Although these projections seem grim, let us rejoice!

For all systems based on false premises, ultimately come to naught.  The true "wolves" those European collectivists, are desperately defending their crumbling empire.

The Hegelian vision of the Socialist European Superstate is coming to a close along with its humanist and Nietzschean ideals. 
In its place a new system will arise, based on reality and truth.  The new system will be distinctly Hayekian, in my view, which is why I remain, quite optimistic.