TheBigShort
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Italy was a basket case when it had it's own currency and will be a basket case again with it's own currency. The Italian Lira is not Sterling or the Swiss Franc. Unfortunately, it is easier for people to blame the Euro for every economic problem in places like Italy than facing up to the reality.
The Euro and it's associated rules and oversight may be the only thing saving the Italians from themselves!
Thats a fair point. The economic woes of the Italian economy are not necessarily of the euro's doing. But it only goes to underline how unsuited the euro is to the Italian economy.
The aim of the euro was to create one economic and financial unit operating under the same rules. This does not suit all of the economies within it and is creating political instability. The greater the instability, the less likely the euro will be to survive.
The €uro is failed experiment. It is a one-currency-fits-all-economies.
Just nonsense. The dollar is in exactly the same state, given the mixed type of economies in each state. It is not the currency that is the problem it is the economies themselves. They could use monopoly money for all the difference it would make.
Thats somewhat an oxymoron in itself. It is the associated oversight and rules that appear to moving voters to poitical parties prepared to abandon those rules.
Exactly, we'd never do that, no our populist left wingers want to do all that but pay for it by taxing "the rich".The parties getting the votes now are just pushing populist policies that would bankrupt the country if followed through on. The prudent response to an aging population and plummeting birth rates (to the point where they introduces a 'Fertility Day') isn't to promise universal incomes, slash income taxes while increasing the state pension along with lowering the retirement age.
The parties getting the votes now are just pushing populist policies that would bankrupt the country if followed through on
Exactly, we'd never do that, no our populist left wingers want to do all that but pay for it by taxing "the rich".
If that doesn't work then blame the Euro.
Exactly, we'd never do that, no our populist left wingers want to do all that but pay for it by taxing "the rich".
Its not about 'blaming the euro'! It is about acknowledging how the euro, as a currency, is a failed construct. It is not a suitable currency for all eurozone economies.
I think Italy has shown itself to be not only not suitable to its own currency but also to the Euro. Ditto for Greece. It's not that the euro is not suitable to some countries, rather, some countries are not suitable to the euro.
So the countries that are 'not suitable' should leave? Or be cut loose?
Probably. Like most clubs really.
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