The German Economy and the Euro: Can a Good Swimmer Rescue 3 Drowning People?

Germans want their old currency back: The Deutschmark. And why wouldn’t they? With Italy joining the league of Euro nations wanting a bailout, Germany is realizing more and more that their membership in the European Union has turned them into a cash cow for every other nation which cannot manage its own economy. Who will win? The bankers or the German people?

 

 

Another Eurozone country – another threat of an imminent bailout. Italy is the third largest economy that uses the Euro – and there are fears it may start plunging in the same direction as Greece and Ireland. With the Euro falling, the amount of money it costs Rome to lend to debt-ridden countries is rising dramatically. Spain, Portugal and Belgium are also at risk of being pulled into the crisis. Doubts about the future of the single currency and the EU itself have been intensified by fresh protests sweeping across Europe – with people angry at facing savage cuts to pay for it all. To break some of this down RT talks to Michael Mross, a market analyst and author.

 

 

Could it be that the European Union will manage to cause the best swimmer in the league to drown with the others? It all depends on whether or not the people in Germany will stop relying on their productivity alone and focus on the real enemy: A unified banking system deciding how their money is being spent.

 

 

~ Mike Dammann

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This entry was posted on Wednesday, December 28th, 2011 and is filed under World Economy. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.
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