My main source of news, The Christian Science Monitor, recently posted a wonderful summation of the EuroZone economic crisis. As is often the case with the CSM, their analysis is thoughtful and well balanced. Let's take a look at the five graphics they provided. First we have the shadow economy graphic.
all the tax evasion that goes on in Greece, for example, and it's both a revenue and spending problem.
Next up we have the export issue.
Germany is obviously the behemoth here. Greece is the lowest which is another explanation as to why they are in so much trouble. They aren't selling anything in the global marketplace. To put it simply, they aren't competing.
Of course, we also have the issue of public sector size.
And the issue of deficit spending as a percentage of GDP.
Note here the stability of Germany. Finally, we have the main thing that the right in this country focuses on nearly to a fault.
So, it's the whole meal and not just the salad.