The Euro itself is going to fall apart, it's going to go anyway it's just a matter of time. That aspidistra has to stop flying eventually, and when that goes and the individual currencies come back with a bang, it's going to be a mess. There will be winners and losers and once one goes, it'll be a rush to get out the door. The regulation at the centre falls apart as some of the treaties governing the Euro itself become.... surplus to requirements and the EU has to re-organise itself to account for all the mess (And its much reduced budget). It still calls itself the EU, still has a president... but is closer to the 1980's EEC and declining in influence over individual states.
Some poor bastard gets left with the economic legacy of it all. A few banks fail after Greece Bankrupts..... several banks follow since they're owed very large Euro amounts, and the Euro rapidly devalues as it collapses. Anybody owed Euros is going to be rather annoyed......
It'd still be a wild ride but what comes out at the end would be better than the car crash that's left now. The PIGS can probably do well out of it if they play their cards right. The succinct argument for abandoning the Euro that's does the rounds in newspapers here is that it would allow us to print money and devalue out of a recession and either get people spending or get money/investment coming in rather than grind the economy down.
But I don't know anything about economics.....
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--m(^0^)m-- Wot, no sig?
Some poor bastard gets left with the economic legacy of it all. A few banks fail after Greece Bankrupts..... several banks follow since they're owed very large Euro amounts, and the Euro rapidly devalues as it collapses. Anybody owed Euros is going to be rather annoyed......
It'd still be a wild ride but what comes out at the end would be better than the car crash that's left now. The PIGS can probably do well out of it if they play their cards right. The succinct argument for abandoning the Euro that's does the rounds in newspapers here is that it would allow us to print money and devalue out of a recession and either get people spending or get money/investment coming in rather than grind the economy down.
But I don't know anything about economics.....
________________________________
--m(^0^)m-- Wot, no sig?