Is the span of post Euro summit euphoria getting smaller and smaller?
The surprise is that it really lasts even that long. The famous Merkel “defeat” may have been not much more than tactical maneuvering again. In any case it was nothing solid, nor immediate, nor something that would apply throughout the Eurozone, including the doghouse members of Greece, Portugal and Spain.
And as if that were not enough, in the absence of Eurobonds (over The Frau’s dead body those) surplus countries and political parties are beginning to get tetchy. And who can blame them? There appears to be quite a strong current of opinion in The Netherlands wanting out of the Euro and back to the Guilder and even out of the EU altogether.
The Frau’s own allies in government, the CSU, are threatening to leave the coalition if any more bail outs and so on are requested. And they are right. All of them. The way The Frau has presented this whole “bail out” business, it’s surprising why anyone agreed to it in the first place, (including the stricken states!)
When The Frau’s cheap populist approach of “dirty, slovenly, lazy, profligate Greeks and southerners in general” became the accepted truth of the day, then why should the decent, upright, hard working, surplus countries throw their money away to the undeserving? Because that is how The Frau has presented this whole crisis. And that is what is widely believed.
Since the fact that the surplus countries have a surplus because the deficit countries have a deficit was not only never made public but positively denied, then what is the argument of even keeping the Eurozone together at all, let alone under The Frau’s Nonsense logic? Why should surplus countries fund deficit countries, which will only be funded if they submit to recession inducing policies? To do so means you know damn well that you are hardly likely to be paid back. How can you be, when the very terms of your loan make it impossible for the country in question ever to be in a position to pay you back?
Not to mention the fact that these “loans” do nothing for the recipient economies, since they are all recycled to the insolvent banks. We had hoped the recent summit decision would put an end to all that nonsense, but no, it doesn’t look that way at the moment, after all.
If The Netherlands do pull out of the Euro, or the CSU withdraws its support from The Frau, they will have done all of us a great service. Particularly Greece, since our current lot of sub prime, miserable governing politicians will never pluck up the courage to do it themselves!