The Euro Crisis: Should Germany and Other Common Currency Members Bail Out Greece?

[Inglenda2]

Looking around at Europe today, we may well remember the dreams of a young Austrian with partially Jewish ancestors. Despite being of small stature, he volunteered for service in the German army and during the so-called Great War and served as a front line soldier – under the command of a Jewish lieutenant – and obtained a medal for bravery.

His dream was a powerful and wealthy Germany, which could dominate continental Europe, while allowing the nearly bankrupt Great Britain, with its many colonies, to take on the rest of the world.

What that man - after changing his nationality – first peacefully, but later with force was denied, has now taken place through the so-called democratic powers within the European Union. The EU could hardly exist without the basis of German financing. No other state within that organisation would be prepared to place itself in such deep debt, in order to rescue the incompetent fellow members.

It is therefore no wonder, that a series of British governments lose no opportunity criticise European policies and structures. The near bankruptcy of Britain, its continuous interference in overseas affairs and the therewith related loss of life for its young soldiers, has changed little in the last ninety years. Quite the opposite is to be seen on the European continent, but is this a cause for envy?

The price for Germany's peaceful dominance of European policies is being – and for many years will be – paid for by the German taxpayer. No other country wastes such a large percentage of its earned financial gain, by trying to buy the friendship of foreign nations. The futility of such methods has been known for thousands of years – even referred to in the bible - but has obviously not yet reached the ears of those responsible in Berlin.

The moment cash stops flowing, the friends will be gone and Germany's name once more be dragged down to the level of the aforesaid Austrian.

[thomasruss4]

It is so simple a solution.

As of now at least six nations are threatened with a domino banking default - from Greece, Portugal, Ireland, Cyprus, Spain, Belgium, Italy ... maybe even France. As each of these go down it will trigger chaos and uncertainty for investors and extend the severity of the global economic depression.

German and American banks will bear almost all of the cost of the defaults totalling in excess of 1 trillion Euros.

If Germany were to revert to the D-Mark

1. It would be no worse off than the domino defaults scenario and would recover quickly, perhaps 15 months.
2. In the future it could manage the national currency to optimise export performance.
3. China and Japan might join in with Britain, USA and Germany to create a viable global reserve currency

[jmeyer10]

Originally Posted by daryl_lindsey

The Greek budget and national deficits have created enormous pressure on Europe's common currency, the euro. If worse comes to worst, should Germany and other euro zone member countries step up and provide assistance to Athens or must the Greeks solve their own problems?

Only the Greeks can solve their problems themselves. As part of a Union, European or otherwise, they will always be Greeks, a good people with a proud history, but in a union or out of a union what will change ? The other union member states or whatever " entities " exist will have to help. The German people will not survive and therefore nor will Germany. Is it worth it ?