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Loans to save euro called inevitable
Posted By F. Michael Maloof On 09/03/2012 @ 8:18 pm In Front Page,Money,World | No Comments
Editor’s Note: The following report is excerpted from Joseph Farah’s G2 Bulletin, the premium online newsletter published by the founder of WND. Subscriptions are $99 a year or, for monthly trials, just $9.95 per month for credit card users, and provide instant access for the complete reports.
WASHINGTON – Germany is embarking on a new campaign in the midst of the region’s deepest economic crisis in years to save the European Union and the Eurozone – with the goal of maintaining an integrated Europe, according to a report in Joseph Farah’s G2 Bulletin.
While continuing to oppose bailout money and advocating austerity for the E.U.’s southern members – Italy, Greece, Portugal and Spain – Germany is coming to realize that it will have no choice but to continue extending the needed loans to maintain the Eurozone.
These economically strained countries, however, have learned of Germany’s dilemma and may not implement all of the measures needed to bring their economies back from severe recession.
Now even Germany is experiencing problems economically, but realizes that it must continue to help other E.U. members because its own economy is founded on its exports – to those other troubled nations.
For Germany, continued preservation of the Eurozone and indeed the European Union will be essential since countries that belong to the E.U. have lowered their trade barriers and allow for the free flow of capital and goods across the E.U. region.
To Germany, maintaining the euro and the integrity of the European common market will be critical for its prosperity.
However, Germany is speaking from a weakened position in pressing for austerity measures for the southern European countries, and they know it.
For that reason, they will continue to challenge German conditions for financial help and in the end realize that the Germans will come around to extending the much-needed loans if the preservation of the Eurozone is to continue.
The new German campaign, Ich will Europa, takes into account that it will have to continue providing the needed financial assistance to the weaker Eurozone countries.
For Germans, however, this approach is aggravating due to their country’s own economic problems.
If Germany is to preserve the Eurozone in the face of its own economic difficulties, German voters will need to be convinced that the idea of preserving the European Union is worth making economic sacrifices to accomplish.
And while that happens, they will have to allow the power of the E.U. to continue being dictated from Brussels, the headquarters for the E.U., and not from Berlin.
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