European Union debt crisis, history repeating itself?

i find it quite interesting the reason England and Scotland united under Great Britain was in essence due to Scotland going bankrupt after the Panama colony failure, and hence England had to 'bail them out' which led to the Acts of Union, 1707 and hence Scotland owed its debt and allegiance to the English crown. The EU on the other hand seems to be going down the same road, you have bankrupt nations such as Greece, Ireland and maybe Spain and Portugal going down the same road, whereby larger nations of the Eurozone are bailing them out and hence these nations owe their debt and perhaps allegation to the EU more. of course I'm not saying the EU = Eurozone, but you get the idea...


What's your opinion???|||Yes I think it is a case of history repeating itself. A lot of people think because we now have a lot more advanced technology that we can somehow avoid the cliche of "repeating history". If you want some really interesting financial reading read about the IMF.