British member of the European Parliament, Nigel Farage, gave the what for to his sullen colleagues yet again in Strasbourg this June with this masterpiece on the Euro bailout for Spain. Enjoy.
Farage is good, as usual, but in this case, I'd like to know what his solution is. Many who warned the Euro was a very bad idea, because you can't run a currency among multiple sovereignties without full fiscal union, have noted that, right though they were, to abandon the Euro now may be worse than the disease. Unfortunately.
Many things, but perhaps not so many as with the Euro. That's water under the bridge. It is doubtful they could go back to the mark, franc, lira, zloty, drachma, without doing even more damage than sticking with the Euro...
Farage is good, as usual, but in this case, I'd like to know what his solution is. Many who warned the Euro was a very bad idea, because you can't run a currency among multiple sovereignties without full fiscal union, have noted that, right though they were, to abandon the Euro now may be worse than the disease. Unfortunately.
ReplyDeleteWhat was wrong with the Mark, Franc, Pound, and Lire?
ReplyDeleteMany things, but perhaps not so many as with the Euro. That's water under the bridge. It is doubtful they could go back to the mark, franc, lira, zloty, drachma, without doing even more damage than sticking with the Euro...
ReplyDelete