The Fourth One
August 25, 2011 2 Comments
So last week, the leaders of Germany and France jointly announced intention to form an ‘economic union’ to save the Eurozone and try to put a lid on the sovereign-debt / PIGS crisis that’s been brewing for some time. This was seen as a timid but necessary first step paving the way for some sort of ‘Eurobond’ issuance, as well as a recognition that common currency without common fiscal policy has always been an unstable situation.
The reason I was moved to write this post is that I, for one, totally welcome the forthcoming unification of Germany and France. In fact I think it’s about time! Naysayers may scoff but I don’t see what can possibly go wrong. It’s not like this is new ground being broken either; it’s a little known fact that such a unification was attempted at least 3 times before, one of them coming within the last 75 years. Why the previous attempts all failed is now lost to the mists of history, but no matter, those days are gone, and I am fairly confident that the Fourth one will be a stunning success.
So to the forthcoming union to save all of Europe, all I can say is: Hail!