In 1999 January 1st
the new euro was first introduced to the universe
17 euro countries got intertwined

due to debt and bad credit, they are now on the decline
The problem started with Greece, damn Greece
They borrowed over 3%, of GDP

The stability and growth pact, did not keep
The banks loaned out to everybody
and all the loans had the same rate

It wasn't so great
Low borrowing costs and reckless spending every state
Greek debt was 12%, would it get repaid?

no countries bought their bonds cause they didn't feel safe, what a disgrace

Chorus 1

No buying, of bonds
The EU, didn't respond
It spread to all the PIGS

then the problem got really big

in Ireland, the housing burst

made the crisis, a lot worse
bond holders, lost a lot
PIG bonds, were not bought


Then the EU set up a rescue fund
the bond holders wouldn't get a refund

Then when Spain and Italy needed to be bailed out
there was no more money to be handed out
Italy was 2.5 trillion in debt

They were as good as dead
their economy was the third largest
it was hard to digest

they bailed out Greece for a second time
but private investors lost, what a crime
The EU let one of their own decline?

with the rest of the world that was not fine

The PIGS were not a big deal

but Italy made it real
It would be hard for Europe to heal
It caused havoc once it was revealed

It caused a US stock market ordeal
It was hard to conceal


Chorus 2 (x2)
This was similar, to the US
both bubbles burst, it was mess

high unemployment and low interest rates
made the US and Europe's economy shake


Theres no help and no solution in sight
The EU may dissolve over night
Every single country may be bailed out

Germany and France may scream and shout
Hopefully it doesn't effect the US anymore
But well have to see what the economy has in store

Theres no help and no solution in sight
The EU may dissolve over night


Chorus 1 (x2)

Theres help and no solution in sight

The EU may dissolve over night