I have a great idea for solving the Euro Crisis!
Instead of Greece dropping out the Eurozone, followed in due course bty Italy, then Portugal, Spain and Ireland, why don't France and Germany form a new currency, the "FrancMatk" and leave the Eurozone themselves?
The Euro could then be allowed to fall in value, just as the Drachma and the Lira did in the good old days, allowing the countries' debts to decrease in value as they did in the past, solving all their problems and at the same time providing cheap holidays for us British.
Better for Germany and France to leave in a planned orderly manner, than the others to leave one by one in chaos.
Stable countries like Holland and Sweden would be able to decide which group to stay with, or even perhaps join the Sterling Zone.
Just a (late night) thought!
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Not a bad thought but I doubt very much that the other countries will stand for it. There would likely be quite a bit of unrest that form riots and such.
ReplyDeleteI think that what they should do, and it's unlikely because they don't collectively have enough of a quantity, is link the euro to the price of gold.