SamuelRSmith said:
What's going to happen? The same thing that always happens in the EU... when the EU fails, the politicians always argue that it's because there's not enough EU. And so the EU will try to extend its leverage over its member states, particularly the Eurozone. The problem is that, the only reason the Euro exists today is that Germany (and to a lesser extent, France) are anchoring it... but if Germany keeps bailing people it, it, too will be in greater financial ruin. The left really have been showing their ineptitude since the 2008 collapse. Their answer to broken debts was to create more debt, now that this debt is starting to fail, they turn around and just create even more of the stuff. The debt crisis didn't end with the banks... it just moved onto the Governments, and in this process, the inflationary pressures caused by all this debt have decimated the value of money and moved the wealth from the workers back to Wall Street. It's funny how the left's approach to dealing with the debt ended up harming the people who they're supposedly supposed to be representing. Obviously not their intention... but, that just shows how bad they are with money. |
Well yeah. I meant officially fail. I read some pretty interesting articles from a leftest person being angry at the EU. Basically because of Germany requiring these nations to put in austerity measures to make sure they dont deficit spend and that Germany actually gets it money back. That they would be "suffering" many years of little economic growth.
The interesting part was that said countries might just say "screw all" and jump out of the Euro and EU eventually.
I remember a statement i heard about Spain 4-5 months ago. "Too big to fail, and too big to save."
I can't help but wonder if the EU is about to cause another giant economic downturn.