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Posted on 11/16/2011 12:43:59 PM PST by ScaniaBoy
In the interest of freedom, I demand that Germany leave the Eurozone.
Churchill, is that you? Bravo
Very funny, but shows a complete lack of understanding of the situation in the Eurozone.
#1: It is not the nations, ie the tax payers that are being bailed out. It is the banks - not least the French and German banks - that are being saved.
#2: Germany has not handed over money to Greece, Ireland, Portugal or Italy. The three first named countries have received loans - at not so low interest rates.
#3: We can all agree that many countries in the Eurozone (and elsewhere in the EU) are not living within their means. However, ever since the start of the euro the PIIGS have not lived on German money, but on the German name. They have been able to borrow cheap money since the markets have lived under the misapprehension that Germany would bail them out. (And none of the politicians, neither in Germany nor elsewhere tried to warn the markets about the true state of affairs. Wink, wink.)
#4: The political pressure on the PIIGS (from Germany, France and Brussels) is not for them to leave the Eurozone, but to accept bail-out loans, stay in the euro and institute austerity programs that will make it virtually impossible for those countries ever to recover.
I completely don’t understand... Yes, I do not know anything. I forgot that the PIGS aren’t democracies and, therefore, the people of those countries did not elect the government that have been deficit spending at 10 percent or more of GDP. For that matter, neither can this country be blamed. People who borrow money, either individually or through their government, are innocent waifs, the victims of the evil Germans whose deficit is only 2 percent of GDP. As for that traitor country of Portugal that crossed over from the PIGs to join the axis of Germany and the uberbanks earlier this year, well, sometimes you have to know who your enemies are. Same thing with the Spaniards who are set to join the Hun. Why did we fight WWI and WWII anyway? To let the Hun take over?
Germany’s deficit has been in the 2 to 3 percent range during the past several years. This kind of relatively small deficit is countenanced by the “convergence” rules of the Eurozone.
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