ABSTRACT
This conclusion presnts some closing thoughts on the concepts coverd in the preceding chapters of the book. History repeats itself, the first time as tragedy, the second time as farce, as Karl Marx noted of Frances two truncated revolutions later usurped by dictatorships. In the unraveling of crisis one have observed how lower productivity countries, such as Greece, were able to take on greater public debt, based on the perception of the euros stability and confidence that European member state sovereign debts will always be made good. Simultaneously, the euros debt and inflation requirement, as required by the Maastricht rules, stopped these same countries from advancing the social welfare policies needed to address the fallout from the crisis. The Maastricht and Lisbon Treaties have served as a Trojan Horse for financial interests seeking to consign Europes Social Model to history, now deeming it outdated; a theme to which we return shortly.
