There is a great article over at the Financial Times today....over how the Euro might just collapse and come to an end...because of Germany.
It's an interesting scenario. Germany has put up with lots of controls over the past decade. So here are the Germans in a perfect world....they saved to meet the bad days...and some other neighbors who never saved...are knocking at the German door for money. If it had just been the Greeks...things might have been ok.....but frankly, with Portugal, Spain and Ireland in this shadows for money...this just isn't a simple case.
It would be curious to know if some alternate German plan existed for D-Marks to be issued. My guess is that a small group of German economists have studied the idea and know the entire schedule to switch back over.
The shock will be for the Spanish, Irish and Portuguese. They need someone to rescue them other than the banks....because they can't afford the massive changes that banks would demand for their loans.
No comments:
Post a Comment