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| l3v1ck wrote: The only way the Euro could every work is if eurozone countries gave the EU all their tax money and had an EU budget deciding who got what. That would balance out the inequalites with exchange rates. Of course that will never happen. | |
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Or the corrupt and inefficient southern states could..
Stop using fake state jobs to buy votes (inflating debts without even providing any real services).
End rigid systems of public sector pay rises that lead to bell hops at the Italian parliament earning something in the region of €200,000 /annum.
End licensing the system for cabbies in cities like Milan and Athens, where selling your minicab permit to a nephew is the standard retirement plan (hundreds of other professions are likewise needlessly closed).
And, generally, switch to a modern, competitive economy that doesn't require regular devaluations.
That was the point of them joining the Euro. Exiting for the convenience of converting their sovereign debt crisis into a monetary collapse (to be followed by a new sovereign debt crisis because their bonds aren't issued under Italian law, so they can't force lenders to re-denominate without technical default anyway) is a grand admission of failure.
It's fun to blame the Germans for predicaments elsewhere, but most of the fault is their own.