The ESM Will Be Just Another Failed Attempt of Fighting Debt With More Debt

"After five months of political haggling, the European Union has finally agreed on the next rescue package for the euro. But the so-called European Stability Mechanism (ESM) is just another debt-issuing vehicle that cannot make up for the fact that all euro zone members are trundling along in an anemic economy that faces more pressure from runaway commodity prices and rising interest rates."