Mar
17th
Wed
17th
Could it be that Mr Schauble might actually want to convince the Greeks and other potential malefactors that the cost of staying in the euro-area is prohibitive? For chucked in amongst the ritual assurances that “there is no alternative to monetary union”, the German finance minister actually raises an alternative - weak countries should be forced out of the euro. He writes - “Should a eurozone member ultimately find itself unable to consolidate its budgets or restore its competiveness, the country should, as a last resort, exit the monetary union.” Not could, you note. Should.
— Great commentary to extremist proposal by German finance minister Wolfgang Schauble via Wolfgang Schauble’s torture chamber | Gideon Rachman’s Blog | FT.com
