World Woes

Looks like Italy is the latest casualty in the Eurozone.   Their bond rates shot up over 7% which if the Common Market is going to be consistent will trigger the bailout and austerity demands that hit Ireland, Greece and Portugal.  This time, it will be different, since Italy has the power to bring down the whole structure, and with it, probably the whole world economy.  Germany and France will have to back off the punitive measures, now that their own oxes may be gored.   I remember as a little kid listening to my grandfather,, an avowed socialist say a United States of Europe was the only salvation for them.  Only he envisioned a political union, not the half hearted attempt that was actually made.  The monetary policy they adopted exacerbates the North/South divide and leads to punitive measures which in the case of Greece and probably Italy will lead to an outburst of nationalism and the end of the dream of continental unity.  My grandfather would laugh if he were to see the mess the Europeans have made of his dream.  What has this got to do with produce and farming?  Possibly nothing, but the global nature of the produce business will eventually suck us all into the maelstrom.