a) print ?The political committment to the Euro is sufficiently strong that I can't see (c) being allowed to happen as it would unravel the whole thing.
b) bail out Southern Europe ?
c) neither - at which point defaults start, absent
d) Euro-area fiscal union - with Germany running the show hands-on, because while they may trust the Irish, Dutch and Finns, they can't trust the Greeks or the Italians, and maybe even the French ?
In the short run I'd say (b) leading to (d) in the long term.
5 comments:
Do you mean (b) leading to (d) ?
Er yes. I'll correct it now.
We need Bomber Harris.
I'm just not sure the Germans actually WANT to run Europe - they'd just like the other Europeans to be more like the Germans - which is not very likely.
No I don't think Germany wants to rule Europe. They have invested so much money and emotion into the EU as a means of NOT dominating the continent.
It's an accident that the opposite has happened.
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