Anyone who listened carefully to Mario Draghi a few days ago about the state of the European Union can see that there is panic in Brussels about the immense debt problem. The USA is not alone here, where the figures are spiraling out of control and interest rates will soon become the biggest expenditure item of all. Draghi has advised exactly what statists and Keynesians always want: New artificial GDP (Green New Deal and other nonsense) generated by government demand and new debt programs, a new level of financing through common bonds in the eurozone.

So the game continues into the future and the EU has the opportunity to consolidate sovereign debt into one entity, under the umbrella of the ECB and then roll this mountain of debt further into the future. The Fiat Circus goes into the next round!