Now with the interpretation of the euro-crisis two contrary positions are clearly identified. One is that an unit currency like the euro does not work and we would eliminate it again. The others say that the euro without common financial policy does not work and demand “more Europe“ way. A brief view in the history shows: Historically we had installed a unit currency, namely the precious metals. How did one country handled at that time with economic instability? Quite simply: One has required duty fees again. Now the maybe “indecent” proposal: Why do we not save the euro, while we permit the reintroduction of duties fees to the weak states? Continue reading Interpretation of the euro-crisis
The basis elements of financial-assistance are described in the EFSF fund and later in the ESM fund. But these rules offend against the “No-Bailout” clause of the contract. The Federal Government of Germany has tried since 2010 to limit his results by protection mechanisms. So they focused all their interest in the formula of “Ultima Ratio”: The crisis funds should be used only if it is guarenteed that the support be only granted for reform editions. However, the contract shows many open details for a financial aid. The conditions of support are hardly specified.
Continue reading The EFSF fund and the ESM fund