Posted on 06/05/2010 2:59:24 PM PDT by mainsail that
"...With the euro fighting a crisis that continues to push its value lower, that question about the willingness of German taxpayers and businesses to stand behind economically weaker nations with which they share the euro as a currency could determine whether the continent's decade-old monetary union survives its recent shock or begins to tatter.
...Sharing a currency with Greece is one thing. But sharing a future is another, and Germany's expanding commitment to the eurozone has many here wondering how their own financial plans -- Schneider hopes to turn his Dulce store into a franchised chain -- could be damaged if Europe's problems become too draining and drag down the local economy.
"Even if they ruin [the euro], Germany runs a stable country," said the young German entrepreneur, who said Germany has benefited from the euro so far but should be ready to pull out and reinstate the Deutschmark. "We'll always be able to get loans."
Approval of the bailout programs, coordinated with the International Monetary Fund, has given Greece breathing room to restructure its economy, but the euro had already dropped sharply over concerns that several eurozone governments had accumulated unsustainable levels of debt. Despite the rescue programs, the euro on Friday fell below 1.20 for the first time in four years amid continued concern about government debt and mistrust that eurozone countries will address the region's problems. "
(Excerpt) Read more at washingtonpost.com ...
but should be ready to pull out and reinstate the Deutschmark.
Some wit could create quite an upset in Germany by designing and posting pictures of a new, somewhat nationalistic looking Deutschmark.
Say a 100 DM bill with a picture of Chancellor Otto Eduard Leopold von Bismarck on the front, with one of the older, more ornate Imperial eagles on the reverse.
The French would about Le Peupe themselves.
To really drive the point home, show designs for new currencies for Polish, Czech, Hungarian, Albanian, Bulgarian, Italy, and the current British Pound alongside.
Boy you said it! Lazy!
Ich bin ein Bailouter
Without Germany the Euro is kaput.
> It´s a main goal of the EU to make the dollar “kaputt” or at least replace it with the euro.
ROTFL! Yeah, its working out great now... oh, wait a minute
ROTFL! Yeah, its working out great now... oh, wait a minute
The fact that more than a dozen local, historical currencies have sprung back to life across Germany and Austria (all since adoption of the Euro) suggests that the Deutschmark is far from dead.
The irony is thick, as the E.U. was supposed to stitch Europe together more tightly. It may end up fragmenting the member nations instead.
Still, all the OPEC talk of kicking out the USD in favor of the Euro has ceased. :-)
They should chase out the EURO leeches, keep them in EU but with no voting rights and tell them to STFU.
Greece for one has been taking money from EU for 30 YEARS, over $9 billion last year alone for 10 million people. At some point you move out of daddy’s house, no? Spain and Portugal aren’t that much better either.
>ep it doesn´t work this well right now. But this doesn´t change the main goal ;-)
Great point!
From what I understand, many (if not all) of the Eurozone nations simply collected and stored their old currency when the Euro hard currency went into use. It might be a bit chaotic to phase the Euro out in favor of them, but it certainly wouldn't be outside of the realm of possibility.
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