Germany might "Abandon" the Euro - Merkel

Bobert

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Angela Merkel warned that Germany could abandon the euro | World news | The Guardian

At the Brussels dinner on 28 October attended by 27 EU heads of government or state, the presidents of the European commission and council, and the head of the European Central Bank, witnesses said Papandreou accused Merkel of tabling proposals that were "undemocratic".

"If this is the sort of club the euro is becoming, perhaps Germany should leave," Merkel replied, according to non-German government figures at the dinner. It was the first time in the 10 months since the euro was plunged into a fight for its survival that Germany, the EU's economic powerhouse and the lynchpin of the euro's viability, had suggested that quitting the currency is an option, however unlikely.
Admittedly, her spokesman said afterwards

the threat, he said, was "not plausible. The chancellor sees the euro as the central European project, wants to secure and defend it and the government is not at all thinking of leaving it," he said. "Germany is unconditionally and resolutely committed to the euro."
Why would Merkel threaten something so serious, so lightly?
 


Ulster-Lad

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mcdonald douglas

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I am 100 per cent convinced that Ireland will eventually abandon the Euro currency.This will be done as a last ditch effort to lift the economy off the floor.
 

darkknight

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According to the same article, Merkel also proposed that bailed out countries should lose voting rights on EU councils.

That sparked a big row with Greek Premier Papandreou, at which point she threatened to take Germany out of the Euro club.
 

Padraigin

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According to the same article, Merkel also proposed that bailed out countries should lose voting rights on EU councils.

That sparked a big row with Greek Premier Papandreou, at which point she threatened to take Germany out of the Euro club.


The metamorphosis of the EU into a traditional empire is becoming crystal clear.

No more pretense that it is a fellowship of member states.

It has become is an empire, and it is reverting to true imperial thinking and heavy-handed subjugation of weaker nations.

Time to leave. Now.
 

asset test

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According to the same article, Merkel also proposed that bailed out countries should lose voting rights on EU councils.

That sparked a big row with Greek Premier Papandreou, at which point she threatened to take Germany out of the Euro club.
God I wish some of our lot had the cojones to stand up to Merkel. She is trying to protect the whole euro project from collapse by protecting the stupid German banks who loaned to us in the first place.

That type of lending has led us to where we are today. And years ago, David McWilliams in his book (can't remember name), said our Celtic Tiger Decklanders could do all that borrowing for "things" because Germans were savers. Therefore their banks had loadsa dough, and they gave it to us. So much for Germans being prudent.

If Germany leaves the euro, I have no doubt that Holland, Austria and Finland will follow toute suite. France will be left with the rest of us. Euro will be all over.

Armageddon is right.
 

newell666

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The metamorphosis of the EU into a traditional empire is becoming crystal clear.

No more pretense that it is a fellowship of member states.

It has become is an empire, and it is reverting to true imperial thinking and heavy-handed subjugation of weaker nations.

Time to leave. Now.
As they might say in Connemara - partnership , how do.
We should never have joined.
Let's get the fvck out.
 

Ramon21

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No matter what she says, like I said before germany is one of the last countries that would leave the euro.
 

thegreyfox

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I am 100 per cent convinced that Ireland will eventually abandon the Euro currency.This will be done as a last ditch effort to lift the economy off the floor.
They would probably pay us to get out.The 2 Brian wrecking ball policy shook the Eu to their socks.Its like standing on the tip of the titanic and Cowan telling us its only a bath.
 

Ulster-Lad

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No matter what she says, like I said before germany is one of the last countries that would leave the euro.
So you think they will continue to support the rest of us in Europe?
 

newell666

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So you think they will continue to support the rest of us in Europe?
They created the mess. Now let's watch them fix it, at their peril.
When they leave the euro, they will leave a plethora of states with greatlly devalued currencies and who will be their direct compettitors?
Try to sell a BMW when it's 30% dearer than a Lexus.
This is the hidden beauty of the destruction of The EU and Europe.
There's mutual destruction but the ultimate perpetrators, the Germans and the French will ultimately suffer most.
That's what's great about efficiency.
WE can watch from the sidelines, eating spuds and enjoying the spectacle of europe destroying itself again.
 

Ramon21

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They will probably set up new rules or something like that.
The euro-zone will only grow, 1 more country next year.
 

newell666

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They will probably set up new rules or something like that.
They've been setting up new rules for the last 40 years. europe is a failed entity and setting up a currency was folly. the eu is fvcked. the euro is fvcked.
Most importantly, Ireland is fvcked, through our involvement with them.
 

dent

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No matter what she says, like I said before germany is one of the last countries that would leave the euro.
I wonder is it a "laying the groundwork" statement ?

The logical resolution to this crisis, IF the euro is to survive, is for all countries to surrender fiscal freedoms, in tax policy etc. Not something where I want us to go but now the EU have us by the balls financially since we have a FF and FG who are unwilling to press the nuclear button of a default (structured or otherwise).
 

vid

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No there is no chance of Germany leaving the Euro. Though if they did, it would dramatically improve competitiveness in the periphery as there would be a significant depreciation in the Euro. Also no objectors to the ECB launching serious QE and getting rid of a huge amount of those debts. It is close to a optimal solution to this present crisis.As this article shows it will not happen unfortunately
PRAGMATIC CAPITALISM » » GERMANY WON’T ABANDON THE EURO
 

Lord Wellington

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""If this is the sort of club the euro is becoming, perhaps Germany should leave," Merkel replied,"

Well just get on with it then.

Stop f*cking everybody over just because you can't make a decision.
 

supermonkey

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The best thing imaginable is for germany, austria, france and holland to leave the Euro. The Euro will halve in value and our debts with it but we will still be in a common market.
 

newell666

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I wonder is it a "laying the groundwork" statement ?

The logical resolution to this crisis, IF the euro is to survive, is for all countries to surrender fiscal freedoms, in tax policy etc. Not something where I want us to go but now the EU have us by the balls financially since we have a FF and FG who are unwilling to press the nuclear button of a default (structured or otherwise).
Time to face up to it. The eurozone will fail. It will happen by democratic means, if that is allowed, or by civil rebellion. either way, it's dead.
 

Ramon21

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Time to face up to it. The eurozone will fail. It will happen by democratic means, if that is allowed, or by civil rebellion. either way, it's dead.
You do know that alot of countries the majority are pro euro, right?
Atleast in the netherlands and belgium.
 


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