Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
So, while the above is a very quick and easy summation, the Germans and their economy have HUGELY benefitted from being in the euro- largely at the expense of the other poorer EZ countries. The euro has allowed their exports to become far more competitive than they otherwise would be, at the expense of making the weaker EZ countries' exports far less competitive.
Precisely. The Euro agreements benefited several countries which were able to expand their production of exports, while others due to higher trade deficits could only expand (unsustainably) by issuing debt.
Doesn't that mean that Germany's profits are less also?
No. High productivity.
Even though Germans make more money than workers in Italy, Greece, or Spain, they have a very efficient capital base that allows them to produce more with less labor.
Argentina and several Latin countries still owe us money, and we'll never get repaid. The Euro should just kick them out as bailing them out time and time again only to not be repaid is never going to help anyone. Let them leave the EU and then have the remaining nations learn a lesson and be careful about interest rates, perhaps still pegging interest rates to individual countries' financial status even if they're EU members
Whatever their situation I really enjoyed being in Greece, it's not only a fantastically beautiful country but the people are super friendly and nice. Greeks are very laid back in nature and their culture itself is such that they don't stress stuff too much. I hope they can get their country back in shape in the long term.
Argentina and several Latin countries still owe us money, and we'll never get repaid. The Euro should just kick them out as bailing them out time and time again only to not be repaid is never going to help anyone. Let them leave the EU and then have the remaining nations learn a lesson and be careful about interest rates, perhaps still pegging interest rates to individual countries' financial status even if they're EU members
Easy to say. What if someone owed you tons of money would you just let it pass and say oh well next time manage your own affairs better. The countries that are owed money should just keep hammering away until they get it all back. May take a century but so what.
Whatever their situation I really enjoyed being in Greece, it's not only a fantastically beautiful country but the people are super friendly and nice. Greeks are very laid back in nature and their culture itself is such that they don't stress stuff too much. I hope they can get their country back in shape in the long term.
I have been to Greece and I like Greece also. But when it comes to money all that doesn't matter. Just imagine if a nice friend of yours owes you money. May be the nicest guy in the world but if he doesn't pay it back he isn't a friend anymore. Right. O.K. I am being a bit hard nosed about this I know.
Exit the euro, let Germany deal with it. Stop paying any euro dominated debt. Establish their own currency, which can be printed to cover pension payments. Cost of agricultural goods goes down, stimulating exports. Tourism takes off due to low prices, as well as historic sites.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
