Europe’s largest economy should leave the currency union in order to save the European Union, one of Germany’s most influential corporate consultants has told Handelsblatt.
“We shouldn’t think so much about whether or not Greece can be saved,” Roland Berger, who founded the global consulting firm by the same name, said in an interview. “Instead, we should consider whether or not it’s more logical for Germany to leave the euro zone in order to preserve the E.U. as a whole.”
Mr. Berger said radical solutions are needed to save Europe from its “catastrophic condition,” which he argued has been caused primarily by the single currency.
He said Germany’s financial and economic power, demonstrated by its 9-percent balance of payments surplus, has created an imbalance within the European Union.
While the European Central Bank’s loose monetary policy is bad for Germany, it’s good for 75 percent of the euro-zone members, primarily the southern countries, Mr. Berger said.
But the influential consultant said Germany would never dare to take such a radical step and proposed an alternative solution – one equally controversial in Germany.
“The other clear solution to preserve the euro would be a transfer union like the one that has long existed between Germany’s federal states,” Mr. Berger said.
PS I vote for A). The alternative is something the EU Commission has been trying to achieve, alleging that non-elected bureaucrats and appointed politicians can manage state’s finances better than elected politicians.
Been saying Germany should leave the Euro for ages. Actually it ought to split in two – a NorEuro and a SouEuro. But for all the debtor nations it is important that the debts remain in Euros. When Germany leaves its value will drop making the debts more manageable.
Yep, a Gerxit would help the rest of Europe to become competitive again. The new D-Mark would rise against the dollar to to its true value, not the Euro value that Germany has profited from. Mind you though, investors would also flock to the D-Mark (making it rise even more).
Wishful thinking! The Euro is the result of many years of German preparation (Agenda 2000) aiming at the destruction of the industrial base of the rest of the Eurozone. They have so far succeeded in full. Why should they abandon the goose that lays the golden eggs now?
A solution to save the bastardokratia of capitalism is never called “radical”, it’s always more like a “reform”, but the term ‘reform’ these Orwellian fucks use for cuts, cuts, cuts, “austerity” and other “liberalizations” – radical solution instead means to abandon the senseless system of money and world-trade, for people who don’t have money the money-system is useless, it only serves the rich and their lackeys.