How the euro destroyed the economies of Southern Europe with the complacency of their ruling classes

What exactly happened?
>The euro is a currency based on the weighted average of the national ones. With its introduction, Southern Europeans saw their purchasing power inflate due to the fact that the euro had a stronger value than their national currencies; the illusion of purchasing power created by the euro led Southern Europeans to import more, but also made their goods more expensive, hence while their economies kept growing, the imports grew significantly faster than the exports.

>On the other hand, the price of German goods was weighted down by the weaker (in comparison to the Deutsche Mark) euro, making them more competitive and boosting Germany’s trade surplus.

>From 2007 onward the financial crisis and the subsequent austerity policies crippled the purchasing power of Southern Europeans, leading them to import less and thus reducing the deficits, while the exports failed to recover.

Germany’s trade surplus quadrupled;
France and Italy went from an approximately €25-bn surplus to a deficit that was slightly bigger than in the case of the former, and slightly smaller in the case of the latter than the surplus.
Spain’s trade deficit grew 5 times.
Portuguese and Greek deficits doubled.


gefira.org/en/2016/11/19/high-treason-how-the-euro-destroyed-the-economies-of-southern-europe-with-the-complacency-of-their-ruling-classes/

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youtube.com/watch?v=4ztOV2wrrkY
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The South Euro countries are back to a neutral trade balance by now. So what's your problem?

source

The Eternal German strikes yet again
mamma mia it's like teutoberg all over again

You have to look up the South Euro countries individually.

Italy has a positive trade balance by now, but still all of its problems.

We can turn this into a German hate thread too.
youtube.com/watch?v=4ztOV2wrrkY

source

SOURCE

Slovenia is often classed as a southern european country.
We had this same problem, but managed to fix it

BUMP

Southern Euro countries have shitty economies, nothing to do with the Euro

>source requested
>tells you to "look it up"

Straight from the faglord bible.

So if germany is more competitive than other countries (i.e. in the eyes of the consumers, it produces better goods for a lower price than other countries): what signal should that be for the other countries? Should they make reforms to enhance their competitiveness or should they go full retard and try to bring down germany's competitiveness?

So you went on a shopping spree instead of adapting, while at the same time Germans went to work and had to endure raising prices of commodities? Yeah, fucking krauts
Consider me not swayed

We can talk about other kraut hate, the actual instances when their two-faced hypocritical nature came to light (like the all fuss with Spanish infected cucumbers, well it turned out to be he German ones that were full of bacteria later)

It wasn't just southern european countries who had weaker currencies relative to the euro. NL was fl 2.2something to 1 EUR.

If anyone has a list of the values of all national currencies the moment the EUR was introduced I wouldn't be suprised if it was pretty much just germany who actually benefited.

Like a reversal of the ww2 reparations.

in the case of spain, that graphic shows our brutal housing bubble, that was our main problem

Germany is more competitive because it brought down other countries before
It'd be fair to cannibalize Germany from the inside
Or possibly split it up again, united Germany has historically been a disaster for Europe

>The South Euro countries are back to a neutral trade balance by now

>t. the parasitic jew

The only reason our economy is good is because we are cannibalizing the South of Europe.

>cannibalizing the South of Europe.

no you are cannibalizing everyone in Europe

Also fair

Please tell me how you are cannibalizing the south. By selling them cheaper/better goods?

>if germany is more competitive than other countries
The premise here is ridiculous. Free trade has nothing to do with "competitiveness" and even the presumption ignores economic reality in its entirety.

Forcing the Euro on them

you are still fucked, the bubble was bad, but the long term trend is downwards

Ok, then pls tell me which word you prefer for selling better/cheaper goods than others. I am flexible here.

>cheaper/better
cheaper/better is relative to the value of your currrency
as OP said:
Southern Europeans saw their purchasing power inflate due to the fact that the euro had a stronger value than their national currencie, On the other hand, the price of German goods was weighted down by the weaker (in comparison to the Deutsche Mark) euro, making them more competitive

WOW , France is really fucked

Haha...the french wanted the euro to get rid of the german atom bomb which was the dm for them :)

>The South Euro countries are back to a neutral trade balance
A bankrupt country with no international trade also has a neutral trade balance.

lel, spain is growing at 3%, and our export are growing at 3,5%

It has nothing to do with that
It's Imagine what would happen if the USA forced Japan to use the USD instead of the Yen, and multiply that by 20
1 euro is about 2000 liras
Do you understand what a mess that caused?

>lel, spain is growing at 3%, and our export are growing at 3,5%
And? check the currency rates, Euro is fucking Spain and tons of debt

How about monopolistic competition and anti-competitive behavior? Your premise is thus entirely debunked by that sentence alone.

Free trade is about stomping out foreign competition and industry by any means (including a virtual ocean of anti-competitive, monopolistic behavior), then absorbing their market share. Free trade is just the prescription to sit on your hands while this happens.

I begin to wonder why the gold standard worked for centuries (roman empire, 18th and 19th c,...) then. There should have been the same problems if you are right.

>And?
he said that our "long term is downwards", which is not true, just that

The mean reasons of the bubble was the introduction of the Euro together with the low interest rates, [spoiler]and the inherent corruption of crony capitalism[/spoiler].
At that time, it's known that interest rates were low because German economy needed it.

so why you dont produce anything usefull?

This.

ask the economists, what I said is what they say

>he said that our "long term is downwards", which is not true, just that
but its true

They used to until Germany flooded their markets to consolidate the market into their favor.

we are improving day by day, its not something you can do in one day, as I said, spain is growing at 3%, and our export are growing at 3,5%

Well, the economic illiteracy amongst economists is almost as bad as it is on Sup Forums. The austrian school provides some insight here.

I will never understand how we managed to do it. And why anyone would let us.

I think the problem is the people who created the Euro zone still had the experiences of WW2 and genuinely wanted a strong Eurozone because they feared more war.

The Euro is so fucking ridiculous in its concept. Us Germans are literally human drones who do nothing but work all day. Without having currency as a weapon against us other countries don't stand a chance. All they can do is try to copy us but why should they? Our lives suck dick. We do nothing but work till we're 67 years old. Then we get almost no money back from social security.

WE should emulate countries like France and Spain where people don't live to work and not the other way around. A weaker Germany would be beneficial to all.

VOTE LEAVE ITALY

Spaniards invented austrian economics

Reuniting Germany was a mistake
That was the root of all these problems

>germans are human drones, work all day
>is german, works(i assume) by posting on Sup Forums.
>his live sucks dick
kys

>With its introduction, Southern Europeans saw their purchasing power inflate due to the fact that the euro had a stronger value than their national currencies
What? The prices of everything literally doubled overnight

In the eighties, our socialist goverment (supported by the french and german industries) decided that it was better to transform Spain into a holiday resort.
Agriculture and industry were reduced to a insignificant % of out economy, every part of the Spanish state was privatized and almost every national industrial business was sold to foreign hands.
The unemployment rose, so the socialist goverment used the monet that received from the EU to retire every worker at that time with an amazingly high pension.

30 years later, Spain is a job wasteland that doesn't produce almost anything used by british and germans as a holiday resort. Mission accomplished.

To a degree, that is true.

Not genociding Germans after either world war was a mistake.

No wonder Germans gas the Jews they did not want competition.

>WE should emulate countries like France and Spain where people don't live to work and not the other way around.
what a joke!, keep lying yourself

Exactly
Stronger currency brought prices to northern European levels

You still taught you could afford it. Did you halve your consumption because of that?

You didn't. Noone did. Data shows we started importing like crazy because ''lel euro so good''.

thought*

Can some goy explain to me why Jesús Huerta de Soto said Spain is better off with the Euro?

German pls.
Everyone know Euro is forced onto you to make your economy fuck up by jealous frogs who want to push you down since they are too lazy to swim across the channel.

The fact that your country manage to turn the tables tell a lot about the different of ability between your politicians and other countries, especially France.

and called that "industrial reestructuration", but it was simply a destruction, cause "spanish industry was not compatible with european rules of competition"

Maybe the Euro was originally a plan which backfired from the Frogs
But it doesn't matter.
Ask any European who profits the most from the Euro and who they blame for their problems.

Because he's a liar.

Any Southern European that claims that is or was at a certain point employed by banks or globalists.

Globalists want the Euro because it eliminates the exchange rate risk. That would be nice and dandy if, like Eurocrats suggest, would translate into more investments into the South. It does not, at all. Thus there's zero advantage.

All it does is shifting flexibility of the exchange rate to the flexibility of salaries. If your economy goes to shit, instead of having the exchange rate rebalance itself, salaries have to be brought down, the latter is known as austerity. Pro-Euro crowd are traitors.

>"long term is downwards", which is not true,

so stop buying stuff you cant afford!!

its that easy, really.

You're a cheap labour satellite for Germany

t. Anschluss NAO

That is a completely flawed analysis.


What really happened:
The euro (and EU laws) leveled the playing field so all euro countries were competing head to head.

Northern Europeans are very efficient so they came out on top.
Eastern Europeans are inefficient but they compensate by working very hard so they are doing alright.
South Europeans are a bunch of lazy niggers so they failed miserably and are now demanding gibs like the nigger scum they are.

it can only happen if we leave the euro

the article is right, we have the delusion of this inflated purchasing power

we keep buying shit we can't actually afford

Bump for a good redpill. Euro was made to boost german market and undermine all others.

I'm at work right now nigger

I'm part of the problem for sure

that's the past, from 1969 to 2013, long term seems in the future, now our exports are growing since some years ago

>There should have been the same problems if you are right
There were.
Learn to read.

That's the inevitability of free trade. It's either an unfettered race to the bottom in standards or you set rules and get precisely that.

Now, decades later after surrendering your industry, your populace had a deadweight loss in skills because of free trade so it's going to be extremely hard to reverse the position, you're trapped in the euro which keeps your exchange rate higher than it should otherwise be so you can't adjust, you're unemployment is predictably high, and your budget deficit and debt are predictably high.

>Austria being German's lapdog as always

why am I not surprised?

nothing wrong with that

>The euro (and EU laws) leveled the playing field so all euro countries were competing head to head.

So let me guess, exchange rates do not count at all? Depreciating or inflating a currency does not change anything?

And you even call the article a flawed analysis? LOL

Fuck you snowniggers
You're just filthy leeches who teamed up to challenged a fish to a foot race
Leveling tbe playing field between different economies means fucking somebody over

what a non-sequitur.

that graph includes 2016 and your balance dropped since 2013

So that is why germany did not want it, but was required to agree as the price for reunification. Just read what german and french leaders said on the idea if the euro. You are providing a huge bluepill.

Jesus fucking christ i hate the Euro
KILL ALL KRAUTS! WE ARE NOT YOUR SLAVES

Europe must kill the hun!

Tell it to the greeks.

>Northern Europeans are very efficient so they came out on top.
>Eastern Europeans are inefficient but they compensate by working very hard so they are doing alright.
>South Europeans are a bunch of lazy niggers so they failed miserably and are now demanding gibs like the nigger scum they are.
calling us lazies fuckers, HAHAHA come here and work with us 12 hours/day you autistic fucker.
keep believing your lies , moron

>That is a completely flawed analysis.
Ironic.

We wuz good boys, we dindu nuthin'.

All Europeans should unite and eliminate the entire German population.

since 2008 crisis the trend is rather positive

No, we're not. Your methods didn't fix shit, Kraut. They made everything worse. Fuck you.

Anyway, your country have the most to gain of all other European countries should any non-German idiots who doesn't understand finance attempt to cancel the Euro currency in order to go back to national currencies.

You have all the factories, the production, the assets, trade agreements and the skilled talents.

Should your currency value go up at that time, just do as US do and print more of the notes so your country get trillions more to spend on infrastructure and education while maintaining the balance of your currency against others.

For all other euro using countries, they will be facing a very rude awakening about most of the economic troubles stem not from Miss HIlter but rather from their own bad decisions and local cultures.

>making all the good means you;re "leeches"

>spending all day at the beach and complaining when Northern countries only send you trillions of euro's instead of quadrillions doesn't make you a leech.

- Southern European logic

This is exactly why you fail.

I know Tyrone, I know.

russians are the niggers of russia

You can't just blame these countries for decisions we forced them into.

I am fine with hating Germany but putting down the other Europeans while they suffer is just mean.

Southern Europeans are lazy and their governments are irresponsible, they borrowed too much money, nothing to do with the Euro.

I wouldn't call northern European products "good", it's just overpriced shit that gets pushed on us because of the euro

I've been on holiday to Spain.
I've working with Spanish immigrants.

You are lazy.
Also 3 hours of work, 7 hours of siesta and 2 hours of work doesn't equal working 12 hours a day.

Germans are the niggers of Europe