♠ Posted by Emmanuel in
Credit Crisis,
Europe
at 7/17/2015 12:47:00 PM
 |
| Austerity may cause the Greek speaker of parliament to literally lose the shirt off her back according to this site. |
From
MarketWatch we receive word of the "
Random Austerity Measure Generator" that spits out additional, somewhat amusing, austerity measures for various hapless EU peripheral economies. But seriously, there is certainly a worthwhile debate to be had about the economic consequences of these Eurozone slackers being subject to austerity measures. There is even a
reasonable case for removing Germany from the Eurozone to improve the competitiveness of the ne'er-do-wells. That said, constant mediocrity inevitably has its price, which is mostly German-imposed austerity here.
Once more, if you were sensible enough to begin with, you would not put yourself in this position--at the mercy of more prosperous Eurozone economies that treat you with utter contempt. That you are also made a laughingstock only adds insult to injury.
