This has nothing to do with the Raymond Chandler novel. It is now a week since Angela Merkel was returned to power, or was she? Little or no leadership is currently apparent from the Bundestag, after all 'back of the stairs, cobbling up', what the electorate will buy, can be significantly different from what might have been promised in the run up to the recent election in Germany. We will see.
Chancellor Merkel is certainly a crafty politician, who will no doubt arrange something that is best for the German economy. Will this also be beneficial for the other members of the Eurozone? This remains doubtful for the Mediterranean countries endeavouring to survive within the constraints of the currency.
We have written previously about the obvious differences in performance throughout the zone, the problems being constantly swept down the road; one day, however, these differences will have to be confronted. Unfortunately, as these nations will be obliged to break away, they will be unable to purchase German goods, cars in particular, and the breakaway nations will have to devalue their currencies.
THE FINAL ACT WON'T BE FOR THE SQUEAMISH.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment