How Europe Is Like A Pimple

by Matthew Gregory

Soon, all of this could be yours... for about $5. (Photo: Will Spaetzel)

Euro-zone fiscal issues are one giant sore point for the world economy.

With the commencement of the G8 summit in France this week, talk around previous summit commitments has been scuttled in light of the continually developing Euro economic crisis.

Government Consulting Organizations (GCOs) on the continent appear lost, divided, and unsure of their own future.

They are more and more looking like the pimple of the developed world.

How so?

Read on.

1. The cure hurts worse than the infection

A pimple begins as a small infection or intrusion, which gets attacked by homemade anti-bodies. Pus is actually mostly made up of white blood cells, who surround the infection and force the whole mess out of the body in ritual suicide.

Much like what the European Central Bank (ECB) is doing to “fix” this little economic crisis.

The ECB is continually throwing good money after bad, backing Greek and Portugese government bonds no matter how useless they might be in the regular markets.

The ECB has in fact invested so much money in these infections, that if it gets popped, the ECB may itself go bankrupt.

Like those white blood cells, the ECB’s fate is now tied inextricably to the whitehead.

2. The pain goes beyond the centre point

The world economy likes to think that once they deal with the mess of Hellenic Holdings (Greece), Porto Gallo (Portugal) and the rest of the PIIGS, then everything will once again go back to normal.

Like with a pimple, however, the white head is rarely the most painful. Europe has become one giant red spot, and to touch any Euro-zone member is to watch a country wince in pain.

Euro countries on the periphery may survive the ordeal – but it will be a long, drawn-out healing process.

3. No amount of make-up is going to do the trick

Here’s the thing about subterraneous hazards – there’s nothing you can do above the surface to really fix them.

So no matter how great the German and French economies may be doing, and no matter how much political goodwill has been gained by supporting the Arab Spring, the issues that are turning Europe into a sinkhole just won’t go away.

They can put on foundation, rouge, or maybe even some Hollywood plastic – but that Hollywood close-up is still going to pick up a funny little bump when someone goes in for a kiss.

4. No resolution without a purging

A pimple rarely goes away without a popping.

So too will the European economy progress.

At least one of the PIIGS will have to default. Deutsche Corp. (Germany) and La Société Noble (France) will ultimately demand it, for fear of their own economies going under.

At some point, the stronger Euro members (and the ECB) will have to question how much the current crisis is costing them, and how much their own crippled economies will cost them in the future.

Time to put those two fingers together and save the world economy.

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