I hear people saying that a solution to the eurocrisis is just that the ECB (European Central Banks) starts printing money as normally any national bank does. But the problem is that the ECB cannot print money just to save a country. But it is obvious that things can be changed. The real problem is that Germany does not want the ECB to print money because it is afraid that by doing that the countries with debt won’t cut expenses and that the inflation of the Weimar Republik could become alive again. Eurobonds are also a possible solution but Germany does not want them either.
So, the situation is very strange. German taxpayers have been paying for decades to other states in Europe (Spain, for example, has received a lot of money from German taxpayers) Angela Merkel says that if the euro falls Europe falls. So here we have a problem!
Angela Merkel and people in Southern Europe want the survival of the euro. But both are putting the euro in great danger! The southern countries are putting the euro in danger because markets are afraid they won’t pay its debt. Germany is putting the euro in danger because Germany could say that the rules of the ECB should be changed so that it can print money to rescue countries!
If we want to solve the eurocrisis I hear voices that say that the only solution is for the ECB to print more money. On the other hand you cannot make Germans pay for the wrongdoing of southerners (some of them)
For the things I read the only solution I can imagine is to let the ECB TO PRINT AS MUCH MONEY AS NEEDED! In this way the markets cannot attack anymore any eurozone state.
So, because Germany will be hurt by this (now it is the opposite! the markets do not want bonds of other countries but they love to buy German bonds. Is this what Angela Merkel means when she says MEHR EUROPA?) well, Germany should be compensated in some way! Maybe Germany should be excluded during five years to pay to Europe. Well, maybe that is not possible but what I mean is that Germany should be compensated in some way.
The current situation is not fair because Germany tells us what we should do but the rest of us cannot say anything! This is not MEHR EUROPA!
I think that the eurozone should reach an agreement: all the eurozone countries commit themselves to act with responsability (German style) and Germany commits itself to lose a bit: WE NEED A EUROZONE THAT IT IS MORE GERMAN BUT ALSO A GERMANY THAT IT IS MORE EUROZONE!
Germany must realise that the euro cannot be the deutsche mark! It must be s weaker currency because the people of the eurozone we are not all Germans! This is a very hard thing to do for Germany but I think this is the only solution. But Germany should ONLY DO THAT if AT THE SAME TIME, THE REST OF THE EUROZONE, becomes more German! And becoming for me more German does not mean to learn German … but to act in a responsible way. I admire Germany because the people I know from Germany were responsible and nice people.
If we want to build a common house, the EUROZONE, it is obvious that the example must be countries like Germany. But at the same time, Germany must realise that Germany should also adapt! The less Germany adapts to the rest of the eurozone and the more the eurozone adapts to Germany the best for the eurozone because it would mean that the euro is closer to the prestige of the old deutsche mark. But that said it is obvious that Germany has to choose between returning to its deutsche mark or remain in the eurozone. You cannot have both ways. Sacrifices should be made by all!
Well, maybe I am wrong. I wish I knew more about economy but I was nver interested in economy until the eurocrisis surfaced.
- Germany faces crunch time over eurozone crisis (guardian.co.uk)
- The Next Step Towards The End Of The Euro (zerohedge.com)
- European Union debt crisis: Britain must help rescue eurozone, say Germans (telegraph.co.uk)
- Germany is Already Printing Money… Deutsche Marks!!! (zerohedge.com)
- Germany’s Merkel: Closer union to fix euro crisis (marketwatch.com)
- Eurozone crisis stokes tension between Britain and Germany (guardian.co.uk)
- Success and Advice Cast a Giant as a Villain, Not a Model, in Europe (nytimes.com)
- Europe in worst hour since World War II, Merkel says (thestar.com)
- Eurozone Crisis: Angela Merkel Warns Europe Facing Its Biggest Test Since WWII (jansurvivalgear.wordpress.com)