"60 Minutes" on April 8, 2012
The first news story (titled an Imperfect Union, done by Steve Kroft) was on the economic situation in Europe, particularly as between Germany and Greece. 17 of 27 members of the EU use the Euro. Louise Cooper says the European holiday is over. "We are living beyond our means." Ten European countries are in recession. Three French banks were in trouble. Ireland, Portugal, Spain, and Italy are in trouble. Christine Lagarde of the IMF is part of the process. The divide exists between northern Europeans and southern Europeans. It did not matter much until 2008. Greece with 11 million people owed half a trillion dollars. Nobody knows what a messy Greek default will do. Germany is the check-writer for the EU. Greece is in a coma. The Greek unemployment rate is 21%. Greece now is like the US between 1929-1932. On Feb. 12, 80,000 Greeks took to the streets to protest. When you get into debt, your creditors take over. 300,000 Greeks died of starvation under the German occupation during World War II. One comment: the US is doing terribly well at the moment. But, if the situation worsens, America will not escape.
The second story was on polo, a team sport that is more than 2000 years old. The story is a re-cycle. Nacho is the face of Ralph Lauren.
The third story was done by Bob Simon who discussed music in Central Africa’s Democratic Republic of Congo. Armand Diangienda formed the Kimbanguist Symphony Orchestra, the only symphony orchestra in Central Africa and the only all-black orchestra in the world.