MD Forman & Son Lance Forman wants an end to the single currency row
- Credit: Archant
Since it was first mooted that there should be in single currency in Europe back in the ’90s I have always believed this to be dangerous step, where an economic policy misadventure would ultimately end in political peril for the people of Europe.
Very simply, by failing to allow countries, which need the flexibility of their own currency, to develop at the pace appropriate to their economy one creates an unhealthy dependency culture where weaker nations become dependent on the strongest and the strongest feed off the weak.
Without being able to devalue a currency countries become dependent on hand-outs, bail-outs and what’s worse, those bailing them out, ie Germany, start to set ever stricter terms in exchange for such support.
Those countries who are stuck in the middle find themselves having to bail out others when frankly they cannot afford to give. Resentment and extremism grows.
One can only hope that the Greek people will realise that being in the single currency is the cause of their woes. Once they pull out and revalue their new Drachmas (which incidentally is an anagram of “mad crash”) to a level in tune with their economy they will undoubtedly bounce back.
When they do, one has to hope that the Portuguese, followed by the Spanish, then Italians will see how having one’s own currency is beneficial and will pull out too and we will eventually see the end of this disastrous Euro experiment.
Let Greece lead the way.
Most Read
- 1 West Ham United reveal Thames Ironworks-inspired third kit
- 2 West Ham United tie is big deal for Danes warns Reid
- 3 Product sold at Tesco recalled due to risk of disease-causing bacteria
- 4 Thousands attend UK Black Pride event in Queen Elizabeth Olympic Park
- 5 Newham refuse workers vote to strike over pay dispute
- 6 Met Office: Thunderstorm warning issued for London
- 7 Reward offered to trace Maryland fatal stabbing 'suspect'
- 8 We want everyone to contribute says Leyton Orient boss Wellens
- 9 Jailed: Eight east London offenders locked up in July
- 10 Man suffers leg wound in Beckton stabbing
Grexit, Pexit, Sexit.