Credit: The Local
The Constitutional Court has rejected attempts to stop the country’s participation in the euro rescue fund ESM, meaning it can be ratified – but said Germany’s contribution must be limited to the agreed €190 billion.
Credit: The Local
The Constitutional Court has rejected attempts to stop the country’s participation in the euro rescue fund ESM, meaning it can be ratified – but said Germany’s contribution must be limited to the agreed €190 billion.
In current scenario a logical decision by the court. Will inject new blood to the sick body of euro zone countries. May also prove savior for the crippling Greece. Merkel Government must be relieved of immediate threat of Euro collapse.As a stop gap arrangement might be decision is OK and great but in the long run economists have to re examine their monetary and fiscal policies which are totally interest and capitalism oriented. These policies are not helping fair distribution of wealth and resources amongst needy human beings. Gap between haves and haves not is constantly widening. With such policies now danger can not be avoided for indefinite time.
In spite of the fact that I had a long career as Director of Finance most of my life I must admit that I do not fully understand what could be a solution to the Euro crises. My gut feeling is that it might be better to let all of it collapse and start again from scratch … Allah knows best.
Hadhur (atba) said in the students meeting in Germany, that if (!) European want a financal unity and same currency in all Europe they should establish then a poltical unity also. The problem is that they want the same currency but the laws and the governments are to different in each country.
In my opinion politcal unity for all europe is not good for the sovereignty of the countries. A solution would be to suspend Greece from Eurozone give them their one currency. This is also what the german minister of finance once mentioned.
May Allah help us…Ameen.
and Spain, and Portugal, and … ???
@A. Tschannen
You´re right this wont help, if much more countries are in crises. so in the end of day there are two dierection:
1: all countries with problems are suspended and the Euriozone is gone and new system should be built. that is what you said in your first comment “My gut feeling is that it might be better to let all of it collapse and start again from scratch…”
or
2: estabish a European government or authority which controls the budget of all countries like USA.
so as i said a European government would cause a ddecrease of sovereignty of each nation, it might be the best to go a new way… But building up a new system would mean that our authorities and politican admit that Euro was a mistake. And this wont happen ever.