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VodkaPundit

Now Even the Left Hates the Euro

May 6th, 2013 - 11:40 am

How bad a shape is the eurozone in? Read:

“The economic situation is worsening from month to month, and unemployment has reached a level that puts democratic structures ever more in doubt,” he said.

“The Germans have not yet realised that southern Europe, including France, will be forced by their current misery to fight back against German hegemony sooner or later,” he said, blaming much of the crisis on Germany’s wage squeeze to gain export share.

Those are the words of Oskar Lafontaine, the former German finance minister (and lefty) who helped create the euro. But as I’ve written before, the euro was doomed from its inception, as Lafontaine and many others should have known. The rest is just details.

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All Comments   (8)
All Comments   (8)
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It's interesting that he thought the Euro would force the Greeks, French and others to give up their lazy habits and become productive like the Germans. It didn't work, in tragic proportions. It's a lesson for other social do-gooders.
1 year ago
1 year ago Link To Comment
This is obviously an implementation problem. Give them a couple of years to rework* it and it'll be spectacular.

*Rework may include efforts like engineered famines, reeducation camps, and industrial scale crematoria.
1 year ago
1 year ago Link To Comment
The worm turns.
1 year ago
1 year ago Link To Comment
The Euro was supposed to replace the greenback as the reserve currency in 2011.

Prediction: the RMB is going to crash in 2014.

We are deplorably bad, but we are the one left standing. Go figure.
1 year ago
1 year ago Link To Comment
May I ask, why are they so very certain that flipping currencies at the borders will bring on war? Or why regulating the snot out of everything from one city is a good idea? I'm still angry- the first mill that spun wool for the beginning of the Industrial Revolution was obliged to quit making certain colors because the colors, from peat or moss or lichen, was not standardized. It's a color that's in the painting of the abdicated Prince. Knitters know how to work around that- but regulators in Belgium banned a desirable product because they didn't understand a market, and didn't trust that buyers in the market would want something they, themselves, banned.

That's all I know about the EU, and I think it's damning.

and, Ms Hoyt, your anecdote about the mouse and typing was completely chilling.
1 year ago
1 year ago Link To Comment
Ari, among the original purposes of EU was to prevent war (the other was to build an economic powerhouse to rival the United States ... rofl). The theory was that more closely integrated economies would result in people too closely connected to go to war with each other. Don't forget that war historically is Europe's most popular participation sport.

But in a way, its a silly idea. Historically lots of closely integrated economies still went to war with each other. However, the EU may have succeeded in something never done before =n making everyone hate Belgium.
1 year ago
1 year ago Link To Comment
I'm still furious about their stopping the production (original way of making) of Portuguese Red Clay bake ware because of ALMOST UNDETECTABLE amounts of lead. Food cooked in the original red ware had a different taste. (And I'm fairly sure it wasn't the lead.)

As for war -- I doubt war. Europe doesn't have enough young people.
1 year ago
1 year ago Link To Comment
Bad enough to scare my mom. And my mom is never scared.
1 year ago
1 year ago Link To Comment
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