Comment: Re:leave the EU (Score 1) 124
The EU can't keep pouring money into a leaky barrel. Eurobonds would have to go hand in hand with relieving a country of its sovereign control if it wants federal money.
I dont really care about the specific approach. The point is someone should show some leadership in the EU and do something, anything else than pushing austerity.
And don't even think about threatening Germany with the notion that exports will crash if export markets will leave the Eurozone or the EU, making Germany's currency more valuable and exports more expensive.
It's not a threat, since after all it's not like I have the power to make it happen. Currently austerity seems to be on this path:
1. Greek finances are ever more strained and closer to collapse
2. Confidence in Spain and Italy weakens as a result (60+ billion capital flight from Spain in March reported today)
If Spain falls further it will affect confidence in Italy and either country will strain France which is a big lender. If France, Italy and Spain get into serious economic trouble Germany will take a hit that will dwarf any amount of money the Greek elite could waste. It's not a threat, but rather a serious risk of the dominoes falling.