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Thursday, June 23, 2011

My Thoughts On How To Save The Euro & The Greek Crisis

There are two schools of thought on how to save the Euro when it comes to countries like Greece (which is the one currently most in the shit), one controversial, one very controversial.  Actually, there are three if you count the current one of keep lending to Greece but I'm not counting that as a solution as it is a temporary measure which to me is like a sticking plaster on a broken leg.

The controversial one, is let Greece default on it's debt, ie going bankrupt in the process, and therefore having to leave the Euro.  This is espoused by the UK's next Prime Minister, Boris Johnson (can you seriously see the public wanting Gideon in charge?  Though I do like him too).  He argues the case better than I can, but the Euro area countries did agree many moons ago to a Stability & Growth pact with large fines for countries that broke the rules on budget defecits.  France and Germany first broke the rules, and of course as the leading countries of the EU project, did not voluntarily fine themselves.

So, how do you then expect other countries to behave?

It should certainly make going on holiday to Greece cheaper - I remember going to Cyprus a few years back, seeing that it was a poor country with some really ramshackle infrastructure probably only marginally better than what was in Somalia (anyone else been on one of their buses?!), but yet many things were ridiculously expensive compared to the value I placed on them - taxis were more expensive than Reading!

Anyway, the very controversial one, which I prefer, is for the Euro countries to merge into one country, have the same parliament (preferably part of the existing European Union gravy-train as opposed to a whole new political structure), have the same polices on tax, and transfer money throughout the new large European country from the rich areas to the poor areas.  Just like we do in the UK, transferring money from rich London to the poorer north of England, Wales and Scotland.  Also known as expanding the public sector.

And I have come up with the perfect name for this country - Germany.  It may also make more sense if everyone spoke German too, it now being one country.

Those countries to the east not able to qualify to be part of this country, such as Poland and Czechoslovakia (wow, I spelt that correctly first time!), could also merge together, perhaps this area could be called East Germany.

To keep the rich West Germany safe from the poorer people in East Germany, perhaps a big wall could be built?

Anyone like my ideas?