Steven Den Beste has another interesting snippet where he finds that Germany wants to have a stronger military by not paying for one. The logic behind that decision seems to be nonexistent, but it does raise one point. Sooner or later, the Germans and the French are going to have to realize that they can’t cut the military much more. When you only spend around 1.5% of your GDP on your military, there’s simply not much left to cut. Eventually those much vaunted social welfare programs will have to start feeling the squeeze as well. And once that happens, expect to see many of those who supported or were on the fence about the Euro start blaming the EU for their problems. When that happens, the EU may face the biggest challenge of its short life…
"Zen Budgeting"
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