DislikedIt's a 750bn. package from which austria carries the guarantee of 13bn €. The austrian annual budget as of 2009 in numbers:
- revenues: $181.2 billion
- expenditures: $194.4 billion (2009 est.)
From what should we answer this guarantee ?
Do we see the beginning of the end from the EURO and the EU ?
In fact I would both not miss, coz counting the pros and cons from EU it's a clear short !
Anyway, I don't think the Euro was a bad idea in theory. But you have to get around 2,000 years or more of history. The French and Germans are two different animals.
Austrians are different from Germans, a fact that most Americans wouldn't know. When the World Cup was here, there were packs of Austrians wearing shirts that had a swastika crossed out on it that said: "Proud not to be a Kraut." They had the red and white of Austria displayed proudly.
I prefer the idea that seems to be floating around at the moment: Busting up the Euro, and going to several different "blocks". Think of a scenario like this: The Northerners leave the EUR, and form their own thing. It would make them competitive, but would also make sense. I imagine something like these countries in the mix:
France (would join this one, because they won't want to be in the southern group...)
Denmark might be enticed to join.
I think a group like this would be a strong one. The other countries are in a different league quite frankly.
You Europeans like relegation in your football leagues.....why not currencies?
Monaco (it pays to be that cool.)
Vatican City (when you have God on your side, you get automatic promotion.)
Italy (which being painfully Italian, refers to this as "Serie B".)
Finland (you can only sell so many cell phones.)
Montenegro (there's bonus points for an Americans that know where this is.)
Greece (is currently applying to join a rec league as we speak.)
San Marino (A race track shouldn't be a country.)