A few days ago, the one politician in Bavaria who is probably just as famous and powerful as Horst Seehofer gave his opinion on the EURO crisis:
”For Germany, the economic damage will be a lot more in the long run if Greece remains in the Euro zone. An old rule for mountaineers can be applied: if someone is hanging at the other end of your own safety rope and just in the process of taking you with him into the abyss, then you have to cut the rope.“
My source (Quelle) for this citation was FOCUS online.
To me, this comparison sounds tasteless and macabre, but also stupid and dangerous. On top of being totally wrong.
Let us think about what would happen if Greece went back to its Drachms?
Here is my guess:
First and foremost, there would be a small state boycott. In history, we have often had it – not just in Greece, but also in many European countries, as well as on other continents. I am sure it would cause another three months of negative growth for Greece. But then there would be an end to negative growth and the Greek economy would get back to continually growing. Because the Greeks are not really as bad as they are made out to be. They would also retrieve their pride – and could (at long last) make a new (head) start.
The positive example set by Greece would motivate a number of painfully indebted countries, such as Italy, Portugal, Slovenia, Spain and some more to get stupid ideas. Why not imitate Greece? Consequently, they would quite quickly follow the Greek example and leave the EURO zone.
And then the entire picture might quickly change. All of a sudden, Germany (or a small “core Europe”) would hang over the abyss. With a huge rock of debt hanging from their necks. Held by a rope team that gets weaker and weaker. With members who – following an old rule of mountaineering – would cut the rope. Until finally core Europe would collapse.
RMD
(Translated by EG)
P.S.
If it is a consolation: this would not be too bad, either. Nobody would die from it. Except some banks. Like the entire economy, they would then be nationalized. After all, we have all seen it in the past, haven’t we? Socialism and communism have been considered dead, but would replace the imagined victor capitalism. But fear thee not! That, too, would only last until the next revolution. So, please, not to get nervous. Life goes on.
The important thing is that the European countries will then again become friends, rather than get stupid ideas like war. Life and love, the seasons and the rivers, however, would all continue on their normal way.
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