here in slow motion...
to understand why I have repeatedly claimed: the Euro is dead:
The industrial output of Germany, France, Spain, Italy, Portugal and Greece - month by month since January 2000; a lot of growth in this gap with great potential.
Pure coincidence? It started slowly with the € coming in and it will only be stopped with the € going out. Any other result would see us witness Germany give away permanently e.g. Volkswagen to Greece, BMW plus a couple of its suppliers to Spain, a number of globally leading industrial members and Mercedes to Italy and even a pretty heavy load of successful German exporters to France - all for free just to even out the gap you see on the chart and rescue that marvelous European Single Currency. A really veritable European act of German heroism; the circle closes where Europa was an important and heroic gestalt in Greek mythology.
Now, what would we need to drink to believe in something like that? That's pure phantasy! Fellow Germans will think I am nuts; well, I won't dispute that, calm down. But, we all are watching the patient's mortal agony which the above chart suggests will end in a harsh finale of what was pure bloody nonsense in the first place.
While the € came in putatively friendly and smooth its explosion will rather feel rough and hostile. It will trigger protectionism and isolationism, it will toss Europe far back and make it totally depending on the rest of the world with the only exception being the USA; it will loose the fight to make its green paper the weakest currency. Welcome in the dark ages, boys and girls.
More debts and exchanging the figures in Italy, Greece or anywhere else will not alter the outcome.
And then: what about our beloved Pound?
Carpe diem!
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