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The author talks about undemocratic efforts by the European Union (EU) to force austerity measures on debtor nations in the EU in an effort to save the euro from contagion. He mentions a conversation U.S. President Lyndon Johnson had with the Greek ambassador to Washington in 1964 on his opinions about Greek sovereignty and compares it to the EU's demands for Greece to follow through on demanded reforms. He talks about the increase of cynicism by voters and markets about the EU financial crisis.

This article discusses the economic troubles that the euro and the members of the European Union are facing. The hope and excitement that was generated when the European Union was organized originally has begun to fade as Greece, Portugal, Spain, and Ireland are experiencing serious economic problems. The article notes that the European Union's problems are related more to the lack of democracy in its management rather than its financial record.