Merkel Blames the Market for Greek Turmoil

I love how the Europeans love blaming speculators for the mess they themselves created through their bloated welfare states:

"First the banks failed, forcing states to carry out rescue operations. They plunged the global economy over the precipice and we had to initiate recovery packages. Because of these packages, we have become indebted and now, they are speculating against these debts -- that is really very treacherous," she said.

"Governments must regain their supremacy over the markets, which they no longer have, and for that we need much stricter global rules," she added, at a debate on Europe organised by a public broadcaster.

Someone should tell her that no matter how powerful the EU, you can't force people to lend you money and "new global rules" will change nothing. If anything it will make people less likely to want to invest in the EU given the political risk involved.