tag:blogger.com,1999:blog-36227136.post3660768047840406022..comments2024-01-16T08:40:53.682+00:00Comments on <a href="http://www.openeurope.org.uk">Open Europe</a>: Will this make countries keener on joining the euro?OEhttp://www.blogger.com/profile/00556463374230498875noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-36227136.post-75455688663194599752011-03-17T14:14:10.180+00:002011-03-17T14:14:10.180+00:00Open Europe team:
Thanks for answering. Of course...Open Europe team:<br /><br />Thanks for answering. Of course I agree that an orderly unwinding of the eurozone would be preferable, but could it ever happen peacefully? From what I've seen, the establishment seems to be determined to prop up the euro no matter what -- even if it means one out of every five of my countrymen are going to remain unemployed for the foreseeable future, or that entire swathes of our industry, including the sector I work in, will continue to atrophy and shrink in the face of unstoppable German competition.<br /><br />A meltdown would be painful, but sometimes it seems politicians will only see reality if it hits them in the face, don't you think?J.E.noreply@blogger.comtag:blogger.com,1999:blog-36227136.post-29261474271236667272011-03-17T12:19:14.854+00:002011-03-17T12:19:14.854+00:00Thanks J.E. - but the worst case scenario must sur...Thanks J.E. - but the worst case scenario must surely be a chaotic meltdown, possibly leading to a break-up, following multi-billion euro bail-outs, leaving taxpayers which huge losses (in addition to again forcing taxpayers to prop up banks)...?<br /><br />Orderly wind-downs or restructering (for banks, countries and even the euro itself if a break-up ever becomes a real possibility)is far better. This is what contries, including the UK, should design their euro contingency plans around.Open Europe blog teamhttps://www.blogger.com/profile/13298566546867244328noreply@blogger.comtag:blogger.com,1999:blog-36227136.post-23126867240720976202011-03-17T12:08:48.287+00:002011-03-17T12:08:48.287+00:00A meltdown followed by a break-up of the eurozone ...A meltdown followed by a break-up of the eurozone is precisely what we need -- at least, for my country, one of those which has suffered the most from the euro. If we manage to "muddle along" with bail-outs, anti-democratic rules and "economic governance," we'll be condemned to eternal austerity, a chronically slow economy, and the destruction of our social system -- all of which could be avoided by having our own currency, floating at its appropriate level. The UK, or, indeed, any other nation, would do us a great favour by NOT propping up the euro.J.E.noreply@blogger.com