New Euro Agreement Less Than Meets the Eye
show comments
  • Jacksonian Libertarian

    Germany would be wise to withdraw from the Euro. As long as the possibility remains that the fiscally irresponsible nations can get at Germany’s money, the crisis will continue to drag on. But if Germany leaves, the irresponsible will be forced to make the changes they now resist, and put their houses in order.

  • cheato

    “Axis of Gimme”

    I love it. Did you read that somewhere or did you make it up?

  • Kris

    [email protected]: If you enjoyed that, then how about this one, given Germany’s position of telling other countries that they must shape up: Germany Cricket.

  • Snorri Godhi

    As I understand it, Munchau suggests that the ESM should be given power to print money … by Germany. Good luck with that!

    But there is a more fundamental problem: realists such as Monti surely realize that Italy and Spain cannot be bailed out without bankrupting Germany, and a temporary relief is all what they can hope for. So, contrary to Munchau, I conclude that this is the best deal that Monti could hope and was hoping for.

    Jacksonian: Germany is not going to be the first country to leave the eurozone. Nor is it going to be any country in the Axis of Gimme. (Except, just possibly, Italy, which has not actually got anything yet.)
    I said this before, and I’ll repeat it until I can say: I told you so.

    Think about incentives.
    Also, see this:
    http://www.bbc.co.uk/news/world-europe-18675496

© The American Interest LLC 2005-2017 About Us Masthead Submissions Advertise Customer Service
We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for us to earn fees by linking to Amazon.com and affiliated sites.