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I believe the mainstream view is that Germany is willing to do this because having weak countries like Greece and Portugal share the same country weakens the eu
by martythemaniak 15y ago
I believe the mainstream view is that Germany is willing to do this because having weak countries like Greece and Portugal share the same country weakens the euro, making Germany's exports better priced.
If Germany was to revert to the Deutsche Mark, or a Euro made up of strong European economies (for example, Scandinavia, Germany, Low Countries, Austria) their currency would appreciate and hurt exports and industry.
German politicians simply think the cost of bailing out Greece will be less than the cost of a strong currency.
- csomar 15y agoSo this is the only solution to weaken the currency? Why not spend the money on Germany instead of Greek? (things like Aerospace, Crazy Arts, Free public goodies...) Won't this make the same effect for the currency? I don't know economics, I'm really asking.
- mrich 15y agoThis would only help when it benefits external currencies (e.g. imports). Otherwise it may help the GDP and economy, but won't lower the value of the Deutsche Mark.
- coldarchon 15y agoYou know, the spectrum of human words and the syntax of sentences does not provide enough power to describe nor to solve the problems of today. But even if you call me a nazi or racist, just answer me this, do you really think Germany can hold up such a strong currency and economy if 65% of all kids here are not German?
- mrich 15y agoAlso, with all the cuts in education going on, do you think there will be enough qualified people to keep up the quality of engineering/manufacturing? Sure, you can always allow foreigners in. But who wants to come to a country with high taxes and bad outlook due to high debts and bad politics?