Spain or Italy: which one is worse off? Economically, Spain; politically, Italy. But since a bad political situation tends to hurt the economy, and a sick economy always poisons politics, the answer could easily be reversed.

According to René Girard, in periods of collective crisis the phenomenon of scapegoating flourishes. Today, the notorious "PIGS" (Portugal, Ireland or Italy, Greece, Spain), have become those animalized, "criminal" scapegoats.

Prices quoted on the Greek drachma, together with the tax-free or reduced tax environment, will result to adding more value to the holiday's budget -- therefore making Greece very affordable and overwhelmed with tourists from every part of the world.

What could help save the world economy would be if the world's politicians eliminated quick-fixes and looked at the underlying reasons for why our current growth model isn't working.

The European Union, IMF and World Bank today bailed out Romania with a €20bn (£18.5bn) loan in return for severe cuts in public spending and wages....