Could recent problems in Greece and other periphery countries such a
Spain, Ireland and Portugal signal the beginning of the end for th Eurozone?
Will Germany be happy to bail other countries out
End of the Eurozone?
Feb 02, 2010
1 Replies
Why would a default by Greece of Euro-denominated bonds harm the currency? And why would Germany need to bail out any other country? Germany didn't bail out Iceland, a state within the European Economic Area and a member of the EU's Single Market, and they didn't bail out GM with Euro-denominated debt, so under what principle would they need to rescue Greece or Ireland?
ISTM that a rescue by Germany of some profligate European Country would do more harm to the strength of the Euro than leaving Greece to sink or swim under its own (and perhaps IMF) resources.
Tony
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