"We need a huge purge of insolvency of the banking sector, financial sector right across the European Union," Declan Ganley, Libertas chairman, told CNBC. "We need to let capitalism work once again. For the freedom to succeed in the European Union in business you have to allow and guarantee the freedom to fail."

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European Union | Ireland | Debt Commercial Banks

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Landing Gear Fire at Moscow Airport Mon 20 May 13 \| 12:00 PM	Will Record Rally Continue? Mon 20 May 13 \| 11:38 AM	European Markets Close Mixed Mon 20 May 13 \| 11:31 AM	European Shares Close Mixed Mon 20 May 13 \| 11:30 AM	Putting the Brakes on Spending Mon 20 May 13 \| 11:27 AM
Boeing CEO Takes Flight on Dreamliner's Return Mon 20 May 13 \| 11:19 AM	Sallie Krawcheck Acquires 85 Broads Mon 20 May 13 \| 11:16 AM	Former KPMG Executive to Plead Guilty Mon 20 May 13 \| 11:11 AM	Yahoo's $1.1 Billion Bet on Tumblr Mon 20 May 13 \| 11:05 AM	Get to Know an Anchor: Kelly Evans Mon 20 May 13 \| 10:46 AM
Winner Claims $590.5 Million Powerball Ticket Mon 20 May 13 \| 10:37 AM	Is the IRS Eyeing You? Mon 20 May 13 \| 10:34 AM	Faber Report: Royalty Pharma to Raise Elan Bid Mon 20 May 13 \| 10:32 AM	Signs of Bernanke Exit on Horizon? Mon 20 May 13 \| 10:22 AM	United's 787 Back in Business Mon 20 May 13 \| 10:14 AM
Who Is Kelly Evans? Mon 20 May 13 \| 10:07 AM	SAC's Cohen Gets Subpoena to Testify: NY Times Mon 20 May 13 \| 10:05 AM	Yahoo Agrees to Buy Tumblr Mon 20 May 13 \| 10:00 AM	Cramer's Six in 60: AIG 'Goes Higher' Mon 20 May 13 \| 09:53 AM	The Big Picture on Falling Lumber Prices Mon 20 May 13 \| 09:41 AM
Cramer: How I'd Invest the $590 Million Powerball Jackpot Mon 20 May 13 \| 09:37 AM	Faber Report: Sprint's Bid For Clearwire Mon 20 May 13 \| 09:37 AM	Cramer: 'It Makes Sense to Invest' in Stocks! Mon 20 May 13 \| 09:35 AM	Cramer: 401(k)'s Are Back Mon 20 May 13 \| 09:32 AM	Cramer's Mad Dash: AMD is 'Alive & Well' Mon 20 May 13 \| 09:22 AM
Faber Report: Actavis to Buy Warner Chilcott Mon 20 May 13 \| 09:15 AM	Monday's Market Roadmap Mon 20 May 13 \| 09:01 AM	Yahoo Bets on Tumblr Mon 20 May 13 \| 09:00 AM	Cramer's Stocks to Watch: Yahoo Mon 20 May 13 \| 08:52 AM	Sen. Gregg Gets New Gig Mon 20 May 13 \| 08:40 AM

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Europe Needs to Allow 'Freedom to Fail'

Europe Needs to Allow 'Freedom to Fail'

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