The Eu nations, with a few exceptions, God Save the Queen, have sacrificed sovereignty in order to achieve "Market Accountability." No more are we talking about accountability to people. Rather, the 'market' (Wall Street), is now the dictator of public policy. To give the 'market' veto authority over nation's budgets is the that this way comes. Why does no one see this and call it what it is? At least the Brits were not beguiled by the power of money-perhaps for the wrong reasons, but they had the courage to say NO.
Wherever you turn, governments are cowering to the 'market.' It is all about what is best for the investors, the people be damned. In Greece, according to the BBC, the plight of the people is so bad that they are killing their pets because they can't afford to keep them. For what, so some banker in NY can buy more bobbles and bangles? People's lives are being ruined, jobs lost, homes taken, pensions decimated, health care unfunded; all to ensure there is Market Accountability.