Wanted to understand your views on a topic I am currently researching on – Do you think , That the European Union didnt have the foresight or lacked the vision , when it bought all the european countries under the single currency “Euro” ? Do we get a feeling that if each country was on it’s own, today it woulnt have been the case where the whole continent was looking at financial crisis because of a few countries who couldnt manage their economies in a better way?
The Euro Zone Crisis
Comments
Alok Rodinhood Kejriwal
My views:
– A Central Bank understands ONE COUNTRY. And that is it’s OWN COUNTRY.
– Sometimes, in complex Countries LIKE INDIA – even managing different STATE economies is difficult.
– The EURO was a Political Ambition – not an Economic One
– As always, when there is a ‘subsidy’, the lazy quickly stand in line. Greece, Spain etc were the lazy guys – they quickly stood in the free buffet that Germany was serving
– Finally, like all good Central Banks, no one bothered to do any course correction?! I mean if you know that there is a bomb in your house, you try and diffuse it – NOT wait for it to blow up and THEN start repairing the damage it created!?
Hemant Pulijala
Witty reply ..Yum Yum ! Cheeriosss…