“There can be no euro (or European Union) without Italy, so exit is not an option. Instead, Italian and Portuguese growth must be raised, so these countries can service their own debts. The way to do that is for the stronger eurozone members to send money every year, for decades, to the EU in Brussels, and the EU then to spend that money in Italy and Portugal, thereby raising their wealth just enough that they can service their own debts. This is not legally problematic, as it has already happened for decades under what are called the EU “structural funds”. All we need is a eurozone-only version of these structural funds.
Increased growth for the weaker members, not debt pooling, is the way to save the euro.”
Brilliant! GOD, If only we’d realized how simple the solution was! And the EU will spend the money! Even MORE brilliant of course; the EU has a fantastic record of spending money wisely to generate wealth. Since we had the EU Europe has leapt ahead of Asia in competitivity, and people like Juncker, Van Rompo and Borroso are born entrepreneurs who will give Italy a mega-boost.
And Germany will give billions to the EU for decades so that it can “invest” in boosting Italy’s growth. Will you tell the Germans this wonderful news or shall I pass the message on?
Remind me not to give this writer a copy of “Alice in Wonderland” for Christmas.