Spanish Property Insight › Forums › Spanish Property Forums › Spanish Real Estate Chatter › Why did Ireland bother? Don’t they have Trojan horses? › Re: Re: Why did Ireland bother? Don’t they have Trojan horses?
Maybe Germany should be encouraged to leave the Euro.
At worst, it will generate serial depression and default among member countries. Moreover, this is also a global problem: the emphasis on deflationary adjustment in weaker countries risks turning the eurozone as a whole into a gigantic Germany, dependent on importing demand from the rest of the world. As Philip White has noted in a paper for the pro-European Centre for European Reform, the eurozone is far too large to play such a role in the world economy. Thus, the question of imbalances within the eurozone is inescapable, however much Germany may wish to resist such a discussion.
If Spain needs a bailout, something will have to give. Treaties are only a piece of paper.