I don´t have a crystal ball…. So is difficult to speak about what could be the situation in a scenario of “NO Euro” ,…. BUT, in my opinion (and taking in account the huge amounts of money managed by the Market strong hands, and the incredible instability caused by the Global crisis ....where only a rumor can tumble the market for a country ) …. Is that most of the European countries would be in a very, very harsh position. Remember the attacks of Soros against the pound (when the Market was far away smaller tan now), look at Switzerland plummeting industries and the Swiss central bank failure to pledge the Swiss franc with the euro …. Well!!... The situation NOW could be nuclear in the absence of the Euro net. So,…. When you are bad mouthing the actual situation of Europe .... you should think in the other possible scenario. It is not in the EU's interest that any of the subject nations should be comfortable under austerity measures. The purpose is not to make their economies stronger because inevitably the Euro will come out of remission, a remission bought at great expense through QE and dodgy bond sales, and will once again burn through the EZ. Obviously the most vulnerable countries are those in southern Europe and the first to suffer but without integration (called for by Merkel in 2011 and applauded by Cameron as both inevitable and desirable for EZ countries, which is like saying amputation is inevitable desirable to save a leg when what is preferable is not to suffer the injury sustained by adopting the Euro in the first place, or joining the EU) and may even threaten Germany. The idea is that the Euro should have force integration and when it didn't that austerity measures would finish the job. When Draghi recently talked about "supervision" by Brussels, he didn't just mean Greece and he really meant "integration. The trouble is if the nations under austerity think austerity is a cure or become complacent...
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