Over Greece and its technical default: it should have been the following
GDP and state budget
Deficit -> soothed by ECB, also called inflation
Debt (increased or not)
----------------- line drawn
Deficit of other countries
Allowance of deificit admitted to all Euro countries
------------------ line drawn again (possibly pushed to increase state debt)
Sum is [number]
-> Result "permitted by the EU of the Euro countries"
--> Ejection from the Euro (if ever), yes or no?
---> Rolling on to next year! Goodyear? :-D 8-D (with summer too!)
Let's not forget that Greece is FAR AWAY from the collapse in Mozambique!
From under Robert Mugabe and the revolt against "white oppression" which led to drought and chaos... and the plummeting of their currency!
Note: First written to Facebook under my profile, moments ago.
Indeed, Greece may be worth more to the Euro than mere addition to the Euro and its stability by its generated economy of about 12,5 Million people. This probably adds some value, but the Euro area seems to disagree on where the floating lines should go, what is the value of summer time tourist Euro Greece and what is the acceptable line for the smile of the Greek! And while we're on it, what costs should be tolerated while the transition of Greece to German and French economical standards take place?
ReplyDeleteWhat complacency should the French and the Germans enjoy for the more poor Greeks to make their ascent to the GDP levels of Germany and France? And what is the financial benefit of this? That is, how much should the French and the Germans pay to stay this much over the Greek brothers and sisters while the Greeks struggle to achieve their levels? Are they true to one another in striving toward a common engineering standard and financial life? Has the Euro cooperation conceived the boundaries or envisioned the road ahead in terms of challenges of this engineering and financial nature?
That said, the critics can immediately drop the objections against the Euro as USA is still holding the Dollar in all its 50 states! This must be understood dead down, without reservations!