European Monetary Crisis Deepens

The article linked here demonstrates the level of concern over the European economic situation. While I do not agree with the recommended cures here, I think the article is useful in the way it describes the current conditions. There is much to be said about the European crisis. I do see it as a crisis of capitalism, that system which encourages hyper-competitiveness, leading ultimately to instability. It should be obvious that unchecked avarice leads to unchecked competition, leading eventually to conflict and even war. The Bretton-Woods system, initiated by Franklin Roosevelt, worked well in terms of stabilizing monetary relations between countries. A return to this system would help end the turbulence now plaguing Europe, threatening the economies of the entire world. Time is running short for avoiding an even greater catastrophe. http://www.spiegel.de/international/europe/panic-rises-in-europe-as-spain-and-greece-on-the-brink-a-836440.html