Quote:
Originally Posted by Margaret Pilkington
Steve, there are some politicians who even now would still take us into the Euro.
The single curency has proved to be a shackle....it has tied those with strong economies to those with weak economies...and this was done not for economic reasons, but for political ones. It didn't lift those with a weak economy, but it dragged down those whose econonies were stronger
A huge experiment....and one which was doomed from the outset.
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Ok, Milton Friedman I aint, but I never really understood the single currency ... or, more precisely, why it was deemed necessary
The US and Canada seem to do ok by accepting each other's currency ... I can go down to Syracuse, NY and spend my $CAD with no problem. And it was no problem even before NAFTA. But part of what you say I don't completely agree with. The strogest economy in Europe is that of Germany ... (looks like the sonsabitches finally won
). It doesn't seem to have been "dragged down." I read somewhere the other day (can't remember exactly where; so, can't put in a link ... gettin' old the memory is going
) that the German will be one of only two major economies in the welt that will grow by over 2%. I suspect that the Naz ... oops, sorry, "Germans" will help bail out Greece; but, I don't believe they are being altruistic. I have a feeling they will make a buck out of it. And if Greece defaults, the Germans will no doubt send in the duns ... a little more civilized than sending in the Wehrmacht, but then, we live in a more politically correct age