Monday, December 5, 2016

The next country to leave the EU - and about time for the sake of Greece



Germany demands that Greece abandon democracy

"German Finance Minister Wolfgang Schaeuble told Greece to carry out unpopular reforms if it wants to stay in the Eurozone, ruling out debt relief for Athens. The warning may signal yet another emergency in the continent already beset by multiple crises."

If Greece had left the Euro in 2009, it would have already recovered since its lower valued currency would have reduced imports, spurred Greek industry exports, and made Greeks buy Greek products. Instead, Germany has profited from the lower Euro, increasing German exports and jobs while Greece, Spain, Italy, and France suffered. 

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