European leaders and pundits must always have someone to blame in this long-running game of monetary illusion based on fallacy and debt; for two years it has been Greece, but today, despite the self-inflicted and globally damaging problems of several other EU member states (and more to come) it is the person who spearheaded the plan to rescue Europe who is the focus of criticism. The grand statements from world leaders about doing what is needed, being flexible and thinking of the greater good are saying, in effect, “You are the only country with the means to salvage a dire situation, and if you won’t give us what we want we will make your life as difficult as possible.” There is some irony in the apparent shift in the politics of power, but Mrs Merkel, still, holds the power because she holds the money.
Being a simple soul I see two factors starkly: one is that Germans worked very hard through their own intense period of austerity and their belief in saving not indebtedness to be in their strong solvent position, and deserve to use it as they choose; the other is that if Germany rescues failing Spanish banks now, there will be many other calls on her coffers and even she does not have enough money to cover all the debt that exists. The solution would be temporary.
In the end, maintaining the Eurozone as it has been is impossible, and it may be that an orderly dismantling of the single currency is the next step, enabling more self-sufficiency and personal responsibility as well as sovereignty in every European country. For some it would be painful more than others, but it might, at least, be fair. How fair is Angela Merkel, I wonder?]]>
