Where the Kaiser and Adolf failed.......

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Where the Kaiser and Adolf failed....... - 2/9/2010 4:28:02 PM

LadyEllen

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EU Finance Ministers are meeting later this week, and apparently a possible bail out for Greece is on the cards in order to save the Euro. The Euro is strengthening on the news and supposition.

The whole episode, prompted by the discovery by an incoming Socialist administration in Greece in November that the previous government had manipulated the statistics to show the deficit to be half what it is, has shown clearly that the potential problem of the Euro that was debated at its introduction - its vulnerability without a common economic and fiscal administration in the Eurozone -is very real.

And if there is a bail out - which will come from Germany - as now seems likely, this vulnerability will remain, unless common administration throughout the Eurozone is brought in, and there will be only one party that shall insist on operating that (the Germans) and it wont be by way of committee. In short, Germany will achieve by economic strength what the Kaiser and Adolf failed to do - to rule Europe.

Naturally this wont go down well with many, perhaps any, elsewhere in Europe, especially the UK. On the other hand, this is the hand of the market and the victor amongst EU economies has emerged - and we all love the market, dont we?

E

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RE: Where the Kaiser and Adolf failed....... - 2/9/2010 4:46:20 PM

Politesub53

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Germany and France have contrived all along to be the two main powers. But my feeling is Germany wont bail out Greece, so what next ? The only way to run a cohesive Euro is to have a single treasury. That wont wash anywhere, Germany and France would insist on control. Sooner or later the wheels will fall off.

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RE: Where the Kaiser and Adolf failed....... - 2/9/2010 4:47:53 PM

Politesub53

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LadyE, take a read of this, it is rather interesting.

http://www.bbc.co.uk/blogs/thereporters/gavinhewitt/2010/02/fear_that_shadows_the_euro.html

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RE: Where the Kaiser and Adolf failed....... - 2/9/2010 4:52:31 PM

SL4V3M4YB3

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I don't care about the Euro so much, what I care about is legislators and the policy they set getting more distant to the individual voter. Our laws are shaped mainly by those in Europe and MEP’s cover greater regions than MP’s and there are far more MEP’s so the vote they do have is further diluted.

In some ways I love Europe and the ways all of our laws are converging but in other ways I wonder what actual say we get in them anymore? This is how they will take over, not through economic policy.

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RE: Where the Kaiser and Adolf failed....... - 2/9/2010 4:55:27 PM

LadyEllen

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Joined: 6/30/2006
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Indeed PS - much of my thoughts.

There is another interesting proposition I heard of - that Germany returns to the DM and leaves the Euro to the remaining economies - it would fall in value without German participation, but it will fall anyway as such crises recur.

And of course the other problem here - if Greece is bailed out - will we see the same again as happened to the Pound in the ERM fiasco as the market runs the Euro to drain every last cent they can?

E

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