First of all, dropping the Euro would be a huge waste of resource and time that have been invested since the mid-nineties. Second, countries with a weak economy are very likely to be victims of their weak currency, and see their living standards drop dramatically, even fall prey to speculators and see their economy spiralling down. Being within the Eurozone was a guarantee of financial stability WITH BALANCED BOOKS. The 3% deficit threshold has been set for a reason. Weak economies could not realistically recover from overendebtment, as history now shows. Lafontaine wrote about the cicada and the ant some time ago. I bet it was not available in Greek... If Sarkozy and Merkel "declare financial war" on the PIGS, it's because they do not want to follow Berlusconi as the next victims of the debt crisis. They wanted us to have our little EU paradise, but that was forgetting that in the money world, there is no mercy for the weak and only the strongest survive...
First of all , I never voted for berlusconni, ever. Second , changing 1 man will not make a difference in Italy or greece.
do, you think the measures of changing the retiring age for women from 60 to 65 and men from 65 to 67 in the year 2026, will make an impact now.
Do you think raising vat from 20 to 21 % will also
meddling in other peoples issues
http://www.english.rfi.fr/economy/20111112-italian-fury-sarkozy-meddling-berlusconi-prepares-resign
The reason the germans want greece, italy and anyone else to stay in the EU is to save their own skins because they will go backrupt due to following the less prudent banking systems the same as the USA. They are up to their head in loans,
Italy should pull out of the currency, it will level the playing field in the EU
Balanced books - what do you mean, they allowed Greece in the EU , when the first president of the EU , Prodi fought hard against Germany and France to keep them out.
Italy only issue is the political system is wrong, will always be wrong and historical was always wrong. you cannot have a centralised government in politics today.
A nation can float its own currency and survive , it cannot do it in the EU, even if you are germany