Europe: strains show in rhetoric.

An AP story describes the strains that are beginning to show in the handling of Europe's debt crisis:

http://www.barchart.com/headlines/story.php?id=5867256

Europe consists of social democracies. In practical terms this means that Socialism has become the accepted norm even for political parties that are nominally non-Socialist and Socialism brings with it a great deal of inefficiency. Political parties then curry favor with the voters by borrowing money. They were warned about the Day of Reckoning and that day is now here. Now it is a struggle between the more profligate and the less profligate as to who will pay. The fact is that the debt can not be managed without either a default or printing more money. It is very difficult, if not impossible, to reform the countries overnight in order to make them and their banking system solvent.

The EU is straining because the rules call for wide consultation and lenghty processes to deal with the problem. But, the countries in trouble are running out of time.