It's just numbers, sort of. People are suffering to, but...
Quote:
Interesting snippet in the report on Monday’s events by Greek newspaper Kathimerini:
According to sources in Brussels, 16 of the other 18 countries in the eurozone are in favor of letting Greece leave the eurozone and they will have to weigh up the cost of any agreement to keep Athens in the single currency.
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My take on this, the concept of the one currency for all idea.
If, Australia and it's 7 states was once a currency for each state, it be a form of independence respectively.
If one state did well in trade, it's currency may do better than the other states in value.
When it needed to sell more production outside of it's state, in may lower the value of it's currency, or compete.
But Australia is not Europe.
In Europe, the value of the currency as Euro is the same for all member sovereign states.
If one state manufactured and sold quality cars, people buy them, but only one state does so, so that state reaps more money than the others who mainly produce high quality agriculture.
Let's say the agricultural state in Europe had a slump in sales due to international competition, another nation started to produce the same agricultural product, only cheaper, or cheaper to buy due to it's lower currency value.
What option has does the European agricultural state have to compete ?
It can't lower is currency value, while stocks of agriculture remain stored in abundance, except perhaps sell at a loss maybe or it past a use-by date.
Yet the cars are selling rather well in the mean time outside of Europe.
That I think is the, or one of the problems with the current structure of a one currency for all scenario.
One sovereign state can't trade out of it's tough times by lowering the value of the Euro currency for it's own solvency when times are tough.
It's the same value for all members states no matter where one is in the trade balance of things.
There is no flexibility between the European states to increase or decrease their own currency value to suit there current requirements.
Exit may be the only option out of this structural/mathematical catch 22/spanner in the works.
maybe, idk...,