Sunday, May 02, 2010
Thinking about the Crisis of the Euro
The Greek Government is calling loudly for Germany to bail out Greece ... but what he won't say is that France has the largest exposure to Greek debt. That tells you many things you need to know about EU integration. There is no way Greece can pay its debtsm it has not enough working people for that. The Communist-led unions are demonstrating against sacrifices. Now Portugal and Spain are falling. Others will, too. This will end badly. The Euro itself has to be devalued to save the EU. But Germany will not allow it, rather will step out of the union. I would like to know what Soros, who knows European finances better than anyone, is doing.