I had a really interesting discussion with some people about the European debt crisis. We talked about the recession Europe is mired in. We talked about the huge problems with Greece, and Italy's issues. It seems quite a mess.
So I proposed this question and it generated some interesting responses. I was curious to see what sort of responses it would get here. My friends told me not to start this thread, because they may think I'm just trolling. But I'm just too curious as to what the responses would be.
So here is the scenario:
Let's say China approached Europe with an offer. They would give a MASSIVE bailout. I dunno, quadrillions of dollars, or something amazing. This cash infusion would solve their debt crisis, and return Europe to prosperity. Jobs would return. There would be a brighter future on the immediate horizon. It would also have the potential to guarantee the long-term viability of Europe's social safety net. What China asks for in return is for Europe to surrender some degree of their sovereignty to China. China would get control of some aspects of European society going forward, to protect their new investment. I think there is some latitude on what form this control manifests itself as. Perhaps they get final say on economic matters. Or maybe they get some sort of permanent seat in government with some veto powers or legislation writing ability.
Would europeans be willing to do this, to try to make sure their social programs are well-funded? To make sure austerity is never an option?