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Well, I was talking about contemporary Germany
Germany has made significant progress in labor market reforms, regulation, capital investments over last 15 years, while other mentioned countries (especially Greece) have been pouring "cheap" funds into their public sector and inefficient programs instead of making more smart investments, improving their economic fundamentals, regulation reforms etc. So, for now the German economy is very strong fundamentally (despite very bleak demographic balance). Germany used that time to increase its expansion and influence across the continent. It will take years if not decades for Southern countries to get as efficient and competitive as Germany now. But if they were outside the Euro, it wouldn't be so difficult for them to compete. The problem is that all these countries have different business (social, economic etc) models.
And I know how sluggish German economy was in 1990s. I also lived in Germany in mid 2000s, so I know what I'm talking about. As per your remark, I do not believe the EU in its current shape could last forever.
Can you help answer these questions from other members on NexusFi?
The biggest fear of all EU mandarins is that France doesn't make it.
Hence yesterday's fine suspension and hence all the fabric softener talk vs Greece.
imo all this is a slap in the face of all EU countries that really tried reforms and are getting
(gradually) better now like Ireland, Spain or Portugal.
For some in France, up to 75% income tax also were a great "reform"
The question is, how much time and credibility a society wastes on such nutcases
only to avoid realizing and providing their own part.
We live, at best, an illusion. Most European countries are not in the way of efficiency. Germany is the best going, and I would say on a high note. But UE is inconsistent.
IMO Spain simply has been choosed by big interests as a "good guys example about reforms", just to others worse have a reference to follow. But Spain's approach to eficiency is IMO absolutely insufficient.
Who speaks about to have superavits?
Just, in the best, about reduce the deficit, but adopting the deficit as a way of life, which is a sure path to poverty, and perhaps suffering along the way, due to bubbles.
Greece needs to leave. I've written to the Prime Minister of Greece. I said transfer all your money from your central bank and all your bank accounts to Iceland. Turn off your central bank and all your banks and have Iceland put new ATMs at all your closed banks. No, street ATMS. And use the Icelandic Currency. Iceland has paid back what they owe to the IMF. Their Prime Minister is sharp and can get Greece back to square one, e.g., pay off debt, pay back the IMF, but not pay back the EU. That EU money is reparations money for World War II. Greece needs to outsource it finances and central bank and bank accounts. The Greeks would get debit cards from their accounts in Iceland. I think it the Icelandic Kroner which is worth more than an American Dollar. Greece is not good with money. They need help. I also proposed the same thing with the Ukraine, Petro Poroshenko. When the Greeks get their kroner out of the Atms, they can convert that currency into any other currency. There are some countries that are better with money then other countries. Greece needs to be free from German manipulation and extreme greed. No way do they belong in the EU.
