Listen to this report on the Eurozone crisis from Michael Mross a respected German Financial commentator. He beleives that the political elite will do everything to keep the Euro alive for political; not economic reasons, and that Gezrmany will, in order to maintain the Euro, bail everybody out,
Germany will bail out every single country in Europe until it finally maybe, also fallsThey will destroy everything, everybody's jobs will be sacrificed on the altar of theior dreams.
1 comment:
Michael Mross in this video was certainly interesting, but it's astonishing that he believes that Germany will persist with the euro while many - even all - of its other members' finances crumble. I suspect that Germany will find a decorous way for it to bolt for the door, & leave the weaker euro members to sink or swim - as well or badly as they can. Perhaps the Karlsruhe Court will come to the rescue of both Germany & its politicians. Or another of the more stable euro economies, Holland perhaps, will instead be the first to bolt. Then everyone who can will follow - perhaps only days after! Quite clearly the euro's going down, because the real bellweather of the current world economic situation - Chinese foreign currency purchases - is negative. China is hoovering up gold as fast as it can. A sure sign, despite its own inflationary dangers, that it sees no intrinsic value anywhere in Europe, nor now in the stronger (although also seriously weakened) USA. So for the euro, it's just a matter now of 'when' - not 'if'!
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