Archive for May 15th, 2012

Tired in Munich

“Goodbye Euro, why Greece must now leave the Euro zone” – a very interesting analysis.

A very short post today.  Our flights last night were good, we got in today, found our way into the city and our hostel, and then went for a walk tonight at the English Gardens, though rain came at the end.    Most of us had Doner Kepabs for dinner and now we’re trying to stay up until 9:00 to avoid jet lag.

Three thoughts occur to me as I read through really solid articles about the current crisis in Greece:

1)  Germany benefits from this in a very real way.    The Euro is weak due to weaknesses in Greece, Spain and Italy.    Germany has a strong, productive export economy and it’s growing.   If the D-Mark was the currency of record for Germany, it would be much stronger than a Euro pulled down by Greece.   That would make Germany relatively more expensive and weaken its growth.

2) There is a real wall of separation between concern for the future of the Euro and concern for the EU.   The EU is safe and still something Germans and Europeans prize.   The Euro is safe among a core set of countries.   Germany will never go back to the D-Mark again, the Euro is the German currency now.

3)  Students note how much less run down German cities are than American ones, and how the infrastructure is strong here.    That’s right – America is in decline.   You notice it when you travel.

Too tired to write more.  Good students, a fun day, and its nearing bed time!

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