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should they ditch the euro?

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  • #16
    good article, read it allat the source,

    better than my bits, (as always)

    as my 1st gf used to say

    http://www.economist.com/node/17674011

    The EU urges all to protect themselves by cutting budget deficits
    ...............................
    Angela Merkel, Germany’s chancellor, has taken to denouncing fleeing investors, threatening to make them pay. Her menaces only make them run faster. Their panic is caused not just by fear that some countries cannot repay their debts, but also by scepticism about politicians’ ability to do very much to help.

    ...............................
    the Germans, Dutch and Austrians sent the authors a clear message to shut up. The most creditworthy countries in Europe do not want to muddle their debt up with that of the biggest credit risks.
    ...............................
    Some say that in the end a radical step may be needed: to restructure the debt of banks and governments alike. This would be like the garrison in the Tower of London bringing out gunpowder in 1666 to blow up nearby houses so as to create a true firebreak. That action, Pepys notes, “at first did frighten people more than anything, but it stopped the fire where it was done”.
    have you defeated them?
    your demons

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