It’s beginning to look like we haven’t. By “collectively” I mean the European Powers and their populations. I do not wish to literally compare the games of power of some hundred years ago with what is happening in Europe today. But once again there is a beast afoot – a mechanism - that inhibits the continent to take the upper hand in taking measures that are bloody necessary - national prerogatives prevail unfortunately. No I don’t expect that we are preparing ourselves – as in 1914 – to slay each other for years; but the same dynamics that couldn’t stop the armies once they were mobilized seems to be fully in progress in socio-economic Europe. The positions are taken : Northern Europe, Germany in front, allows no system that might lead to a collective solution as Trans-European Bonds or the ECB that massively purchases existing, however no alternative is proposed. The naughty boys of the class room – Greece first – but actually the whole of Southern Europe – Belgium included have to be punished properly for their bad behaviour : wasting money like hell. Of course Germany, The Netherlands and Finland have the right to tap the ones on whom they have to help to save on the fingers. It is indeed unheard that the German taxpayer has to economize extra for a Greek colleague who refuses to pay any or is receiving the pension of his long dead father or for a port labourer in Marseille being paid 3.000 € per month for working just 12 hours per week. I agree with that analysis : countries that wish to “enjoy” of the privileges of the discipline of others have to engage in similar action. However : the momentum to set up Trans European Bonds is already due before the bomb will explode. The invisible, intangible soldiers who want to ruin Europe are already marching towards their aim, they are no longer under our control. A massacre by guns and rifles does not lie ahead; all the more a financial massacre for the entire European population might as well alraedy be happening. And I have to point out to the Dutch, the Germans and the Finns – although not bearing guilt in the outset of the problem : they will not be spared of they do not fully engage in the solution. Or do they really think that of Southern Europe financially implodes that they will continue to live in their sacred welfare bliss? I think not. The trenches of de the Great War of the last century have long been dug again; do we have to fight meaningless battles for years again now against a self-created enemy – where only true cynics will make money. Northern Europe has to go for solutions that are Pan European - in return they can demand a very high discipline and the right to control. However squeezing makes no sense. Let me bring up once more the analogy with last century wartime and the peace afterwards. Just squeezing will mean preparing the next war or what it means today : the next financial cataclysm. We have witnessed that after WW One : the Marshall Plan type of approach after WW Two offers offered a better future. Are populations and their leaders – because in contrast to a hundred years ago the latter live by the grace of the first – really incapable of seeing what has to be done? Recent history teaches us that we probably aren’t : last century we needed two disasters and the complete destruction of Europe to engage in a build-up that lasted decades. We are more keen to blindly go for the abyss of self annihilation when we have to make difficult choices in time of affluence. The reason: we stick to the illusion of our prosperity and what we consider as our acquired rights and refuse to see the bigger picture. We needed two total destructions last century before we went for common solutions (a draw the parallel with post war Europe WW Two). It’s a real pity, because we were doing so well for sixty years. I felt at home as a European from Stockholm over Berlin to Rome and Madrid (and even London :).