An emergency currency regime for Greece

The question is, is this crisis made in Germany or made in Europe – as long as we can talk about it – the solution will not find by Made in Germany.


With the agreement of the Eurogroup to accept the Greek reform proposals the latest crisis in the euro area seems averted – for the moment. Apparently, Greece had no other option than to give in and prolong its current bailout program as requested or leave the monetary union. The latter would have been a complete surrender to the challenges of a common currency – not of Greece but of its European “partners”. All can-kicking in recent years, all refusals to face the needs of a functioning monetary system, all costly bank bailouts to prevent a destabilization of national financial markets and policy structures, and all sacrifices made by individual countries under harsh austerity constraints in order to “save the euro” might have been fruitless as a Grexit inevitably would have triggered a chain reaction among other member countries and possibly the union’s breakup.

DrachmeThe danger is not banned yet: Gabriele…

Ursprünglichen Post anzeigen 3.094 weitere Wörter


Kommentar verfassen

Trage deine Daten unten ein oder klicke ein Icon um dich einzuloggen:

Du kommentierst mit Deinem Abmelden /  Ändern )

Google+ Foto

Du kommentierst mit Deinem Google+-Konto. Abmelden /  Ändern )


Du kommentierst mit Deinem Twitter-Konto. Abmelden /  Ändern )


Du kommentierst mit Deinem Facebook-Konto. Abmelden /  Ändern )


Verbinde mit %s