Word: blamed
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...understandably hesitant to bail out their flailing colleagues, hesitant at the idea of saving governments that clearly acted as irresponsible economic stewards. Yet they really do not have a choice in the short-term, as any European national failure would absolutely devastate the continent as a whole. In addition, blame does not lie entirely on some admittedly inept governments. While it would be hard to find a country that was managed with as little economic integrity as Greece, all of Europe’s countries had access to easy credit and were members of a very lightly regulated financial system...
...Last month, Greek Prime Minister George Papandreou blamed his country's economic meltdown on "an attack on the euro zone by certain other interests, political or financial. We are being targeted, particularly with an ulterior motive or agenda." And according to Spain's El Pais newspaper, agents at the country's National Intelligence Center are investigating whether "attacks by investors and the hostility shown by some sectors of the British and U.S. press" amount to "collusion." "None of what is happening, including editorials in some foreign media with their apocalyptic commentaries, is happening by chance or innocently," Spanish Transport Minister...
...there just one alleged plot involved. The colorful Greek Deputy Prime Minister Theodoros Pangalos this week claimed that the Nazi theft of Greek gold during World War II was to blame for the country's ballooning deficit, which has shaken investors' confidence in the euro, causing it to plunge in value against the dollar in recent weeks...
...some entertainment value," says Johnny Munkhammar, a research director at the European Enterprise Institute, a Brussels-based think tank aimed at promoting entrepreneurship. "But the idea that any of these theories have anything to do with creating the current crisis is, of course, ridiculous." He says Greece is to blame for its own mess, having amassed a huge pile of debt from years of statistical fraud in Greece's public-accounts sector. "Politicians turn to conspiracy theories because they feel they need someone else to blame," Munkhammar says. (See the top 10 crooked CEOs...
...blame is certainly going around. Many conspiracists accuse "foreign hands," more specifically Anglo-Saxons, for the Greek and Spanish crises, arguing that they have always hated the euro and are now using their hedge funds and media operations to bring it down. Some suggest that speculators are attacking the euro to block moves toward tougher European Union regulation of the market. Others, like European Central Bank chief economist Jürgen Stark, suggest people are perpetrating a ruse to hide the U.K.'s budget deficit. "It's astonishing to see where most of the criticism of the euro is coming...