Friday, December 02, 2011

Germany's dilemma & Euro crisis properly explained.

A E-P's latest, here, concludes as follows:

But this is where Germany now is. It must either immolate itself and dismantle the Bismarckian state for the cause of EMU, or prepare to finance an orderly withdrawal from monetary union (with the Finns, Dutch, and Austrians) so that the South can breathe again and hope to recover.

That is the choice. All else is can-kicking, denial, obfuscation, muddle, and self-delusion. As is now becoming obvious, the failure to resolve the matter one way or the other is becoming a danger to the global financial system. It threatens to uncork a global depression. Germany must at last decide.

It is a horrible choice. My sympathies go to the German people who were never given a vote on this ensnarement and infeudation of their peaceful country, and who were egregiously deceived by their own leaders, and who cannot now begin to understand why they suddenly are target of such furious and venomous global criticism.

The Germans too are victims of this ruinous project, the greatest victims of all. Their elites have led them into a diplomatic and economic Stalingrad.

The whole tone of the column assumes this all arrived by accident, which is the exact opposite of what this blogger believes and of what he has been writing about and trying to get across for years.

This blog's view of the present arrangements in Europe is that they are not accidental and they are best summed up by the illustration sent around by email this afternoon by Roger Helmer MEP, titled Euro Crisis Explained, as pasted below:

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