The current euro crisis has frayed nerves so much that Europeans have become more aggressive and even nationalistic again.Related thoughts by Mark Steyn here.
The polite tone cultivated for decades by E.U. partners has disintegrated into a tirade of insults. Germans have called the Greeks lazy, corrupt and just plain stupid. The news media in Germany gleefully point out Greek billionaires who pay no taxes, workers who retire at 50and harbors filled with the yachts of the idle rich. German politicians have suggested that Greece sell some islands to repay its debt. In return, Greeks have pulled out the Nazi card, claiming that the Germans owe them billions in wartime reparations.
This is perhaps the most important implication of the way the euro was set up. Rather than being kept free of politics, as was originally intended, management of the currency has become a political football knocked back and forth by the growing resentments between richer and poorer Europeans. The poorer countries reject the austerity measures necessary to meet German standards. The Germans refuse to take the steps necessary to build a true economic community. The result is a standoff.
Sunday, September 25, 2011
The Lights Are Going Out...
What hath the Euro wrought?