Comment by njarboe

Yanis Varoufakis, the Greek minister of finance during the height of the Greek debt crisis, believes that this type of redistribution (defense spending is a much larger amount) in the USA has allowed it to exist with a common currency without having the same level of problems that Europe has. There is no mechanism in Europe to move enough money to the poorer parts from the productive powerhouse, Germany. This is causing very large problems and a lot of people suffering in southern Europe. French and German banks got a bail out like US banks in 2008 to prevent an economic collapse, but the debts were not forgiven (more money was borrowed to pay the loans) and this problem come back again at some point.