Monday, May 10, 2010

A $1T waste of money???

The $1 trillion dollar measure to support the Euro, and Euro-zone countries did not address the fundamental and structural issues surrounding the countries that it intended to save, and, to me, this is the one reason I think it will not resolve anything. The political maneuvering of Angela Merkel (German Chancellor) did not save her from losing control of Germany’s upper house, nor will it have saved the slide of the Euro and the remaining Club Med countries’ debt problems. The ECB will have to devalue its currency intentionally to really show that it is taking action. Throwing money at this problem is only showing to the world that the southern European nations have influenced the north, and now the whole Euro-zone is willing to destroy their fiscal responsibility.

The Euro must establish and enforce new austerity measures on EVERY country within the Euro-zone, including the usually responsible countries of Germany, France and the Benelux region. It is time the Euro-zone take responsibility, and promote productivity, deleveraging and individual responsibility.

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