The Eurozone wants to protect the "EURO" but with what assets that back such a policy ? Has the German determination "to bail out" the EURO no limits ?
There is a limit between "financial help" as in the case of Ireland and Portugal, but the case of Greece has raised real basic questions.
When does "Financial Help" become something much more onerous ? This has become very evident. In the case of Greece it has meant increasing EU loans but acceptance by Greece of additional financial and economic constraints.
This has lead to policies inside Greece that should have been adopted before they joined the EU !!! Greeks are suffering as a result of these measures, (of a deflationary nature) to continue to benefit from EU "help" !!! Greek citizens are, as a result, revolting !!!
The "Big Eurozone " problem is that now Italy and France, not to speak of Spain, also need help to respect the 3% Golden Rule ! Will any of these countries benefit from German backed finance to protect the "EURO" ?
Would it not be more convenient and financially cheaper to change the rules and to permit "EURO COUNTRIES" in difficulty to withdraw and temporarily renounce the EURO, to adopt their former local currency and then reorganise their economies ? This would lead to deflationary measures, like those imposed on Greece, but this way without EU help !!!
Germany is at present "rich", it backs the "EURO" but at what cost ? Again, will Merkel still be the Chancellor after the next elections ? Policies may change !!!
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