60 Minutes Reviews the European Debt Crisis

60 Min­utes did a piece on the sit­u­a­tion in Europe, and for a not finan­cial ori­ented TV show, it did a pretty fine job of describ­ing the sit­u­a­tion for a mass audi­ence. They key line I wish they had expanded upon was along the lines of "in the past, if Greece found its accounts over­drawn the coun­try sim­ply printed more money, or deval­ued its cur­rency…" – which are paths the U.S., U.K. and Japan now fol­low. Fur­ther they should have explained how these finan­cial injec­tions are back­door bailouts for the finan­cial élite, namely Ger­man and French banks, among others.

How­ever, it was inter­est­ing to see the dynamic between Greece and Ger­many in far greater detail than the num­bers we are numb to – the long and vio­lent his­tory of this con­ti­nent makes for inter­est­ing relationships.