Oh, your on another one of your ego trips and you think comments like that make people feel bad about a country :lol:
I have high regard for your opinion, as you have a more reliable read on european opinion. I have never been very sure about France. I probably over stated my case when I suggested that France could, or would, join in. They do favor, I think, the eurobond, but whether that belief is strong enough to leave the present EU I doubt. If they did threaten to leave and join italy, spain, portugal and greece, unless Germany agrees to the eurobond, I think you would have to agree that that would put tremendous pressure on Germany to agree to the eurobond. ___________ I was in France in May. What A lovely country! I have spent a great deal of time in Austria, and less, but always enjoyable, in Germany. I love all of these countries, and only wish them the very best.
Can you document this. Is it real or just talk? This doesn't make sense to me. How could rates for Greece be lower than rates for Italian or Spanish bonds be justified? I would think Spain and Italy would have something to say about that! The only way I see Greek borrowing rates coming down, and being justified, other than through charity, is via the eurobond. And there is no eurobond!
They have introduced serious reform. Whether it is enough I don't know. I am quite certain that locking them into severe austerity will perpetuate their recession.
This is somewhat true and that is why it is such an enigma. And therein also lies Keynes brilliance. The macroeconomic experience in favor of Keynesian economics as a way forward out of recession has now achieved such a record of success that all forward looking Central Banks around the world seek to emulate it. It has been proven by the rise of the Third Reich, the final years of the great depression, and endless small and large recessions in the U.S... What remains to be seen is whether there are economies to which it is not applicable -- Japan perhaps.
since when does devaluation lead to prosperity? the euro has been weak and these latin losers + greece still can't export competively. why? do you think you are so clever to make money of devaluation and other people's misery when they cannot afford to buy imported goods?
It doesn't. But one positive is that it can lead to a stronger export growth. The Euro may have been weak lately from a historical perspective, but it is no where near as weak as the drachma would be (or has been).
it doesn't help. devaluations are offset by structural issues excessive regulations, pension and salary obligations to the public sector and corruption. e.g. Zimbabwe, Argentina etc.when populism rules devaluations are of no help.
There is a hideous restriction of national sovereignty imposed by the troika of lenders upon Greek ministers who are denied access to departments of their ministries pivotal in implementing innovative policies. When sovereignty loss, due to unsustainable official debt, yields suboptimal policies in already stressed nations, one knows that there is something rotten in the euro's kingdom.