> Sorry, you are in almost everything wrong. Deficits are not really a problem. Currently, the lack of a deficit is the main reason, why the ECB set the interes

> Sorry, you are in almost everything wrong. Deficits are not really a problem. Currently, the lack of a deficit is the main reason, why the ECB set the interest rate to zero. Almost all European governments cut spending and remove money from the economy. The results are awful is most economies, except those which can export more than import. They live on the deficit of other countries. Maybe I didn't make my self clear: I didn't say that deficit is a problem per se. I argued that given the current design and status quo in the EU, any country that has a deficit vis-a-vis Germany should stay out of the common currency because inevitably, it will end up like Greece in the long run. I agree with most of what you said. Regarding Germany and the ECB, that's true but it's only a small part of the bigger picture.