December 17th, 2011
Excessive political rhetoricSyndicates live from the acceptance of their members. Politicians like to advertise for ends whose existence rather less moral than economic in nature. The European Monetary Union is by its nature an association for those EU members who see a pooling of monetary policy and thus a single currency and an override of the exchange rate as an adjustment variable to gain an advantage.Not less, but no more.
But the political rhetoric is different, she would leave with respect to the European culture of origin, would endanger the entire European project, if not destroyed. The politicians extol their own rescue activities that they had brought in emergency meetings under time pressure and in the most vehement “face of the abyss” of a failure of monetary union for Europe reached masterfully.
“A utility room -. a currency” this there is no alternative. Europe is too serious a thing as that should be the destructive nature of this venture, leaving the international speculators. Which must be demonstrated to the arsenal of “torture” of the EU to help them to put their greed-driven craft. Greece should be “fall” can not, finally, that the country's cultural cradle of Europe. And by the way the New Testament was originally written in Greek. Therefore, solidarity is a moral duty, not least from the – false – view that Germany “benefited most from the € '.
The political rhetoric makes use of the experiment, the highest moral obligation to the public for immediate political action to suggest. It is but rather – largely driven bank – strategic games of the Euro-political actors for resources, maintaining power, influence, reputation. And for the avoidance of politicians, their ignorance and their own – to reveal misconceptions about the basic rules for well-functioning monetary unions and their violations of such rules – now already historical. And of course it's also about the politically correct demonstration, in every sense, a “good” because of his solidarity with Europeans.
It would simply go to sober reflection, work conditions under which a monetary union can only permanently, to meet members able and willing, these conditions by the association and the EMU not. That was and is the sober philosophy of the convergence criteria and the Stability Pact, in which the criteria for entry into the currency club and the rules for the functional currency club-shaping behavior of the members are fixed. Convergence criteria and the Stability Pact is based on purely economic considerations, they do not contain excessive rhetoric of the above-mentioned political provenance. In this economy, some candidates are indeed initially failed or are in any case still in the waiting room outside the ERM of the EMU. But Greece made it known to be on the admission ticket of the political rhetoric and taken miles away from economic criteria in the currency club. The resulting dilemma, the policy will not be attributed crisis and devising ever new solutions that are moving ever further from the economic ratio instead of approaching them.
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One can also say this: the sober entry-economic conditions formulated for the city of EMU will be transformed by its political and repeal of the catastrophic failures generated by the economic powder keg that is matched by the economic-political rhetoric to be chloroformed. If repress emotions generated politically economically justified reason, it is expensive. The relevant bills expanding explosively build through the bailout and guarantees to already be in the amount of subsequent payment-related demands on the budget of the European tax payers to future reality.