Major editorial: how and why the Euro became a ticking bomb

Skybird · 10-07-11, 01:59 PM

Der Spiegel has published a major editorial on the Euro crisis, which got translated for the international online edition, and was released in three parts over the past three days. It is a good overview and reminder of single events which all linked up to form one big disaster - a home-made disaster.

Part 1

Part 2

Part 3

What will happen, how will it turn out? Some say, a transfer union. Others say a splitting-up of the Euro zone, into regions with comparable economic conditions, and one Euroe from Northern, solid countries, and at least one Euro fomred by the weak, diverse economies in the south.

While I would prefer a "North-Euro" formed by Germany, Holland, Austria, Finland, I think it will not happen, becasue politically it cannot be installed. A tranfer union also is politically not achievable at home. Whjat wiull most likely happoen is that the whole issue constantly degenrates due to stagnation and doing npthing, becasue nobody dares to make and enforce decisions. Paralysis will render all ambitions for solving the Euro issue as useless and as hopeless - and after that, render the EU a paralysed hopeless case, too.

Which means Europe will die a slow death, and ultimately end up in utter unimportance, and a going back to regional, local, individual fight for survival. An essay I read some days ago compoared it to a status worse than the dead-locked WTO which also is paralysed since severla years, since the failed talks at Doha.

the fincial bill will be payed by ordinary people, old people, pensioneerrs, private people who get expropriated of their financial savings by which they hoped to secure their future when they had become old.

10-07-11, 01:59 PM	#1
Skybird Soaring Join Date: Sep 2001 Location: the mental asylum named Germany Posts: 42,637 Downloads: 10 Uploads: 0	Major editorial: how and why the Euro became a ticking bomb Der Spiegel has published a major editorial on the Euro crisis, which got translated for the international online edition, and was released in three parts over the past three days. It is a good overview and reminder of single events which all linked up to form one big disaster - a home-made disaster. Part 1 Part 2 Part 3 What will happen, how will it turn out? Some say, a transfer union. Others say a splitting-up of the Euro zone, into regions with comparable economic conditions, and one Euroe from Northern, solid countries, and at least one Euro fomred by the weak, diverse economies in the south. While I would prefer a "North-Euro" formed by Germany, Holland, Austria, Finland, I think it will not happen, becasue politically it cannot be installed. A tranfer union also is politically not achievable at home. Whjat wiull most likely happoen is that the whole issue constantly degenrates due to stagnation and doing npthing, becasue nobody dares to make and enforce decisions. Paralysis will render all ambitions for solving the Euro issue as useless and as hopeless - and after that, render the EU a paralysed hopeless case, too. Which means Europe will die a slow death, and ultimately end up in utter unimportance, and a going back to regional, local, individual fight for survival. An essay I read some days ago compoared it to a status worse than the dead-locked WTO which also is paralysed since severla years, since the failed talks at Doha. the fincial bill will be payed by ordinary people, old people, pensioneerrs, private people who get expropriated of their financial savings by which they hoped to secure their future when they had become old. __________________ If you feel nuts, consult an expert.