It's not crap. This divide into three regions is actually pretty damn accurate - especially the Catholic vs. Protestant countries. Don't be fooled by the religion-based dividing line - this is about *cultural* differences, not *religious* differences. A better way may be to say Germanic+Nordic countries vs. Romanic countries.
However, fact remains: Protestant/Germanic+Nordic countries have very sound financial policies and very little corruption. Catholic/Romanic countries, on the other hand...Edited 2011-11-18 13:05 UTC
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