The European Crack-Up by Theodore Dalrymple

http://www.city-journal.org/2012/22_1_otbie-european-debt-crisis.html

> In short, the incontinent spending of many European governments, which awarded whole populations unearned benefits at the expense of generations to come, has—along with a megalomaniacal currency union—produced a crisis not merely economic but social, political, and even civilizational.

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