Should Germany leave the Euro?
There's all this talk about Greece leaving (being "kicked out") of the Euro because of their financial difficulties. But it seems to me that Germany is being asked to make a large financial sacrifice on behalf of poorer member states (e.g., pay for them to not default on their debt).
My question is this: Is it in Germany's best interest to do this? Why is it not in Germany's best interest to simply leave the Euro and go back to the Deutsche Mark?
Germany has a strong interest in a financially-stable Europe since its exports of goods and services amount to well over 40% of its GDP. If it were to exit the Euro and leave the rest of Europe in financial distress, its exports would suffer and the German economy would be hurt. Germany would be better off teaching its neighbors how to better manage their budgets and grow their economies, which would help them buy more of Germany's products. But Germany cannot simply dictate its demands to its neighbors. Rather, it needs to respect their sovereignty and should be willing to accept compromises in the pace of the needed reforms.
What an amazingly complex question!!
I agree that a stable Europe is vital to German economic interests, but a nation that doesn't control its own currency isn't a sovereign nation.
They should have an northern Europe valuta.. Including: Germany, France, Belgium, Luxemburg, Austria and perhaps Great britain and the Scandanavians
by RighterOne 5 years ago
How do you expect the Fiscal Crisis of the Euro to end?And do you think that the US and China are doomed to follow the same fate?
by tipstoretireearly 6 years ago
Who will blink first: Greece or Germany? Or will both sides put Europe into a tailspin?
by PeterStip 3 years ago
Should Greece leave the Euro?The financial crisis is enormous and the dept is almost impossible to repay. Should Greece leave the Euro and start printing their own money again?
by CMHypno 8 years ago
Fitch has downgraded Spanish debt and Germany is panicking. Will the Euro survive much longer?http://www.guardian.co.uk/commentisfree … uro-crisis
by CheapInMadrid 7 years ago
RUMOUR OR TRUTH:IS GERMANY CONSIDERING OPTING OUT OF THE EURO ZONE?The global financial crisis has his many European countries HARD.Think,Greece and Spain.European Union members are getting nervous everyday with rumours,speculations and unpredictable movements on the markets as all countries...
by Dave McClure 6 years ago
Greek Prime Minister George Papandreou has decided that the Greek people should be asked whether or not to accept the rescue package negotiated by the Eurozone leaders. The 'rescue' package, of course, came with strings attached: further austerity measures for a people already suffering. And...
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