Carrol Cox wrote:
>Mark Samborski: Then costs could possibly be officially shared over a larger
population base and economy.
>
>Over a period of a decade or two several million deaths are probably hidden
in that little word "costs."
>
>Carrol
I'm in Europe at the moment. I mentioned the possibility of political union because some people here have noticed the ongoing brinkmanship of the politicians toward the well-being of the European Monetary Union (EMU). Germany questioned the value of Greek debt as collateral last year, causing all hell to break loose. Now Germany is threatening to haircut bondholders in future EMU sovereign bail-outs, with predictable response in peripheral EMU debt markets. Peripheral countries are being repeatedly clobbered by the center.
Why would the center deliberately stoke economic uncertainty within the EMU?
M.