Euro on the brink of collapse

[jimmy olsen]

Nuke them.

That's your solution to everything!

Bon Jovi deserved it and you know it.

Are you now wanted, dead or alive?

[The Brain]

Nuke them.

That's your solution to everything!

Bon Jovi deserved it and you know it.

Are you know wanted, dead or alive?

You give spelling a bad name.

[MadBurgerMaker]

Nuke them.

That's your solution to everything!

Bon Jovi deserved it and you know it.

Are you know wanted, dead or alive?

You give spelling a bad name.

[jimmy olsen]

Nuke them.

That's your solution to everything!

Bon Jovi deserved it and you know it.

Are you know wanted, dead or alive?

You give spelling a bad name.

Brilliant.

[Iormlund]

Greece makes a tiny percentage of the Euro economies. Even if they vanished from the face of the Earth the Euro should be alright.

[Richard Hakluyt]

The Germans will have to stump up the cash, as usual 

[Iormlund]

Anyway, there's an important lesson for Germans and French here too, though I doubt they are interested in listening.

If they keep managing the ECB as if it were their own, these things are bound to happen. If many countries are heavily indebted now is precisely because the two giants kept interest rates artificially low for the last decade when it was their economies that needed to make sacrifices (remember who broke the stability pact first). It is only natural that people borrowed like crazy.

[Richard Hakluyt]

Well, the euro is (was?) effectively the Dmark; so it has the sort of interest rate regime that works for the Germans. More profligate peoples were bound to borrow under that regime. But what would have happened if the euro had effectively been the peseta or drachma? A whole set of other problems......

[Martinus]

What a ridiculously alarmist headline. 

[Martinus]

In hindsight, wasn't it kind of dumb to institute one currency over a bunch of economies whose needs may be in conflict with each other?

How's that? Don't US states have their own economies that often are in conflict with each other too?

[Richard Hakluyt]

Wouldn't like to be the Greek PM right now; getting told-off like a naughty schoolboy by a bunch of Germans 

[jimmy olsen]

What a ridiculously alarmist headline. 

The more alarmist the headline, the more replies one gets. The internet is very simple that way.

[Martinus]

Wouldn't like to be the Greek PM right now; getting told-off like a naughty schoolboy by a bunch of Germans 

The Germans should have never left. 

[Zanza]

Anyway, there's an important lesson for Germans and French here too, though I doubt they are interested in listening.

If they keep managing the ECB as if it were their own, these things are bound to happen. If many countries are heavily indebted now is precisely because the two giants kept interest rates artificially low for the last decade when it was their economies that needed to make sacrifices (remember who broke the stability pact first). It is only natural that people borrowed like crazy.

You are right, we are not interested in listening. Any other monetary policy is not really acceptable for Germany.

[DGuller]

In hindsight, wasn't it kind of dumb to institute one currency over a bunch of economies whose needs may be in conflict with each other?

How's that? Don't US states have their own economies that often are in conflict with each other too?

Yes, to some extent.  However, people can freely move from depressed states to booming states, and do so, which lessens the need for distinct monetary policies.  I don't think moving from Greece to Germany is as easy as moving from Michigan to Texas, for many reasons.