Re: "but instead of ditching the plague of a currency they sacrificed"
"They go back to their own currencies. The poorer members devaluing which improves their economic situations"
Wishful thinking - especially when they need to buy raw and non raw materials abroad to run their factories. The supply chain today is very different than fifty years ago. You may not have the needed local production any longer, and you won't reinstate it quick enough when skills are gone, or were never available. While far cheaper labour is now available elsewhere. They could just enter a stagflation spiral - where wages start to value nothing - while debt soars as politicians tries to keep the plebs calm.
"Only for socialists."
Venezuela problem is not "socialism" - is "populism". We've seen the same effects in right-wing populist approaches, i.e. Argentina. Many of this kind of "leaders" just use what suits them best, and can even start "socialist" and become "fascist", or vice versa.
But maybe you're among the one who think Denmark is a "socialist" country and at the same level of Venezuela?
"The ECB is bailing out the rich member banks over Greece."
There were mistakes in handling Greek crisis, and big banks had too much influence. Still, you can't really ask countries that try hard to keep the balance right to keep on paying for countries that are going bankrupt not because unavoidable crisis, but because of reckless spending and widespread corruption and dishonesty. Greece faked data to enter the Euro. Italy debt was too high, and it was promised it would have been reduced - it never happened.
But sure, you have to rein in your own financial system when it tries to take advantage of bad countries problems.
Biting the hand that feeds IT
