I don't need to add anything: most of us seem to agree... you can't trust the Greeks with borrowed money at the moment.
I like the Germans. I like Angela.
However, it is VASTLY in Germany's interest to keep the value of the Euro low. They can do this by keeping basket-cases within the Euro envelope (i.e., Portugal, Ireland, Italy, Greece and Spain). The presence of those bad-debtors keep the value of the Euro low. If the Euro lost all of those countries, then the value of the EWuro would ROCKET...... and Germany would be trying to sell the products of Merc, BMW, Bosche, AEG, Siemens (etc., etc.) at REALISTIC prices. The only reason they can sell those 'things' is because the Euro is so low.... Imagine if the DeutchMark returned, Germany would sell about 5 Porsche a year outside Germany because they'd be at REALISTIC prices!
My very rough guess is that the Euro would rise by 25% to 30% without the P.I.I.G.S countries. do you fancy a BMW for 30% more than today......?
Germany NEEDS basket cases in the Euro.... hence Angela's willingness to throw appalling money after bad money after poor money after good money!
Oh... and this is JUST my opinion!
Ian
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