Germany is not printing Deutschmarks.
Germany printed tonnes of Deutschmarks at reunification as an insurance measure: they never quite got round to destroying them.
It makes loads of sense of them to revert to the DM. But I bet there’s something I’m just not seeing as to why they won’t.
Statists, leftists, idealists will hold on to their sinking ship and reassure themselves that it will somehow work. Look at North Korea, that utopia whose dictators and Generals still believe in! The Eurolandiers have already given up on the very notion of national sovereignty and refuse to believe they were wrong.
That is why they won’t until the ideological wall falls.
The krauts hold the majority of euro debt, if they walk away from the Euro, it will fall like a rock and the Germans will lose about 40% of their collective net worth.
In addition, since they have no real army, it does germany little good to be prosperous when their neighbors are broke.
Those borders are porous.
Oct 26, 11:32 AM EDT
Euro plunges on reported crisis talk deadlock
By DANIEL WAGNER
WASHINGTON (AP) — The euro is plunging against other currencies after European leaders and banks appeared deadlocked over how much of Greece’s debt should be forgiven.
European leaders are meeting in Brussels Wednesday about efforts to prop up banks, bail out Greece and prevent the debt crisis from spreading. Last week, they promised a detailed plan by Wednesday. That looks increasingly unlikely.
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And this:
http://euobserver.com/19/114075
By Valentina Pop
Brussels - Peace should not be taken for granted if the euro fails, German chancellor Merkel told MPs Wednesday (26 October) ahead of the eurozone summit where an increase of the bail-out fund firepower may lead to Germany’s own state assets being taken as collateral.
“Nobody should take for granted another 50 years of peace and prosperity in Europe. They are not for granted. That’s why I say: If the euro fails, Europe fails,” Merkel said, followed by a long applause from all political groups.
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Ah, now THAT sounds German!