abacacus wrote:
A politician? Lying? Good heavens!
On a more serious note:
Greece dug themselves a hole... let them suffer from it. The Euro is a failed currency. Let it die, and don't make it worse.
Have you contemplated the consequences of that? Not just for Europe, but for the entire world?
The failure of the Euro would bring about european economic collapse in minutes; British collapse within days; American and Canadian collapse within weeks. The Chinese and the Indians would be similarly brought low, and the middle east would follow as soon as the movement of petroleum slowed.
The Euro is a failed currency, to be sure. It demonstrates that you cannot have a single monetary policy and 17 different radically different fiscal policies. Greece was admitted to the Euro on a fiddle, and Europe are now seeing the folly of that. As for the German's current behaviour, it is the behaviour of the one economy that has the size, strength and discipline to make a positive difference.
Britain's own self-interest lies with a healthy Europe. Britain's trade is dependent upon Europe, and a European economic collapse will lead to an enormous drop in British exports, that will merely be compounded by a soaring pound.
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--James