The balance of payments debt crisis the 2007 to ....

Link Storyville: Inside job
Charles Ferguson's Academy Award-winning forensic analysis of the 2008 global financial crisis. The film traces the emergence of a rogue culture within the finance industry.Trust in certain leadership classes (public and private) = 0 - how can it be regainedA shocking, incendiary and sickening documentary (if taken at face value), those who are perceived to have screwed up need to be held to account very publicly and explain themselves - USA seem to do this better than Europe.Plus some real examples of companies and individuals who borrowed unwisely Analysis, not convinced that root cause was identified.
try the 5 why's
Why, Why, Why, Why, Why.
I suggest:
The West didn't manage or deal with the growing trade imbalances, the surpluses just lazily shovelled into over leveraged prime property mortgages and then sub-prime property mortgages not to forget over leveraged companies including sale/leaseback deals to liberate cash!!!
Ed Balls may have had a point but it was a qualitative statement rather than a quantative statement compare with this
'Substantial fiscal consolidation is needed, and debt levels must decrease. But it should be, in the words of Angela Merkel, a marathon rather than a sprint. It will take more than two decades to return to prudent levels of debt. There is a proverb that actually applies here too: “slow and steady wins the race.” ' so George Osborne may have difficultly defending his approach - accused of rushing and a using crisis to settle perceived scores with Public service unions rather than objective rational - Its all still smacks of class and party dogma - lucky liberal Democrasts were on board.
Revolution Through Banking?
BBC Hardtalk John Llewellyn
How Goethe’s masterpiece is shaping Europe
The classical definition of tragedy: 
"Hubris (arrogance), Ate (folly); Nemesis (destruction).”