El rosarino escribió:The Eurozone Disaster Will Happen in Three Waves
http://seekingalpha.com/article/202318- ... urce=yahoo
I'm married to a German – I understand stubbornness. But this time, being stubborn is just going to get the Germans in trouble.
The GIIPS are 34% of Eurozone GDP – try to export your way out of that one when 1/3 of the “Zone” is reducing costs and cutting wages. It’s a fallacy of composition to assume that the GIIPS are cutting spending while the aggregate remains intact. Furthermore, each EU country exports an average of 68.6% within Europe, so Germany’s clearly going to feel this, too - at least if the "Zone" gets past the immediate liquidity crisis.
Nobody talks about this – but Greece can secede from the EU as per the Lisbon Treaty.

