“To Save the Euro, Germany has to Quit the Euro Zone”
“When the euro was launched, leading German politicians used to argue, with evident relish (and much to the chagrin of the British in particular), that monetary union would eventually require political union. The Greek crisis was precisely the sort of event that was expected to force the pace. But, faced with a defining crisis, Ms Merkel’s government is avoiding airy talk of political union – preferring instead to force harsh economic medicine down the throats of the reluctant Greeks, Irish, Portuguese and Spanish electorates. This is becoming both economically and politically unsustainable. If the objective is to save the currency union, perhaps policy makers are looking at this from the wrong end. In the end, paradoxically, to save the European Monetary Union, the least disruptive way forward would be for the Germans, not the periphery countries, to leave.”
And in a related story…
Everything must go! The Greek government is selling everything it still has its debt-ridden little fingers on so guess who is now interested in buying Athens International Airport? Fraport AG (Frankfurt Airport).