Greece needs to leave the EU

  1. 1,346 Posts.
    The only way Greece can get out of the mess they are in is to leave the Euro currency union.  The Euro has only benefited the northern nations, namely Germany.

    Interesting article points out some facts that are not widely published by many media organisations.  The Euro was doomed to fail from the beginning.

    Title of Article:
    Greek revolt over austerity is long overdue

    http://www.cnbc.com/id/102409446

    "When austerity began, Greece's sovereign debt was 110 percent of its GDP. Now it is 160 percent, grows larger by the day and can never be repaid."

    "If Greece and the others really straightened out their economies, Germany and other northern countries would lose a great number of jobs to the South and political clout within Europe."


    So how is Austerity helping?  Maybe Germany can forgive the additional debt that was piled onto Greece in order to keep them from leaving the currency union.  Then just maybe Greece will have a chance to pay back what it originally owned and not what was forced onto her.

    The Euro currency union has only benefited the Germans at the expense of the southern mediteranean nations. Germans enjoy the shortest working week in the industrialised world.

    The best thing for Greece and other southern nations is to leave the Currency union, go back to their respective currencies.  This will make Greek workers more competitive and would also make their exports more competitive.  

    The Euro currency has failed.
 
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