Well I thought it was pretty funny when I first heard of PIGS. That is to say Portugal, Italy, Greece and Spain, the four most economically troubled EU states. But the fact is that the EU is in a crisis and there is nothing funny about that. After all, crises have been used to usher in tyranny, such as Post-war Germany, when Hitler usurped power, gaining popularity by blaming the crisis on other groups.
The latest country to seek aid from the EU is Ireland, and that has had some political consequences for the state. But when people give you money, they can insist you absorb their ideas as well. This may not always be the best, but this is the consequence of making poor decisions. However, this can also be destructive, as the following impassioned speech asserts. I am reminded of a quote by Sir Winston Churchill that went to the effect: things work out well when you look after your own interests, but when you start telling other states how to do their business, things don't work out. It's a short clip. Enjoy.
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