> Berlin's plan for eurozone member-states to overcome the crisis relies on a combination of net exports and balanced budgets.
> What this means, in simple numbers, is that to escape its crisis in this manner the eurozone must reach a current account surplus, in relation to the rest of the world, no less than 9% of total European income.
> Since one economy's trade surplus is another's deficit, growing net exports of a large economy means that it also exports deflation to the rest of the world.
> A 9% eurozone trade surplus would destroy the rest of the world's hopes for stability and growth. It would mean massive unemployment in the rest of the world, political instability and calls to erect protectionist trade barriers that would reduce incomes everywhere, including in Germany.
> The US Treasury Department looks at Berlin's and Brussels' plans with a mixture of incomprehension and revulsion
> Personal encounters with American officials have led me to the following realization
> They know America no longer has the power to stabilize the world economy by itself > They understand that Europe's policies are detrimental to America's future > And they are frustrated that their European interlocutors are not only ignorant of simple macroeconomic laws but, curiously, that they are not even ashamed of their ignorance
even if it's bad for the US, why should we care? the US has been dumping their problems on the rest of the world for a century now
>petrodollar >dollar world reserve currency >let's just print out way to prosperity and export our inflation by forcing everyone else to stockpile dollars can't wait until people lose confidence in that piece of shit currency and everything starts flowing back to the US, their inflation will be glorious
Jacob Rodriguez
The us will ser IRS poder and influence decline In the next decades. Ashuming a tragedy doesn't happen like Hillary winning, With Trump they will for the first time since ww1 lay low, be protectionist and all those variables you mention and specially the petrodollar will become almost a no issue.
The future belongs to east Asia and russia. We will see what comes of Europe. My bet is a chasm from South to north
Oliver Walker
Guess what country will be culturally and ethnically eradicated by the end of this century due to the influx of third world trash its leaders have allowed to come in?
William Myers
Every western country?
Sebastian White
Admit it, it would have been better under the DM. Don't fall for the "EU is good for Germany" meme.
Isaiah Rogers
Have another drink French cousin.
Aiden Rivera
The DM was sacrificed to buy the unification of Germany from France. It was worthwhile, and turned out to be a bargain.
Isaac Rodriguez
>The us will ser IRS poder Can someone translate this failed spanglish?
Alexander Morales
>It was worthwhile, and turned out to be a bargain. It was a shitty deal in the first place by the looks of things, if this is what it led to.
Jaxson Bell
Thanks Turdmany.
Feels bad man.
Grayson Bell
I think he meant "the US will use the IRS power".
Isaac Adams
Yes, that sums up Europeans pretty well. Complacent, ignorant and a danger to themselves. Like a bunch of fucking children.
Daniel Wood
Varoufakis did nothing wrong. He was fought hard by eurocrats because he dared question their methods. He was betrayed by syriza fags when they got cucked by the eurocrats. Ok, so he's a little bit crazy sometimes but for the most part, what he says, makes sense. Varufuck the EU.
Oliver Wilson
Ruined Greece for good and running away when things started crumbling down
Jose Bell
Yeah, Germany became the most rich country in the EU thanks to the Eurozone crisis created by your country
Easton Martin
That's true
That's not true
Dylan Foster
>That's not true Greece ended with bigger debts after his disastrous negociations with the EU.
Owen Turner
Greece was already ruined and beyond any hope for recovery, if Varoufakis worsened this situation somehow, that's piss in the ocean.
Luis Nelson
>us >dumping OUR problems on EUROPE
What a joke of a post, from a joke of a country
Matthew Peterson
>if Varoufakis worsened this situation somehow, that's piss in the ocean. The corralito could have been avoided and your country wouldn't have needed to sell half the country to Germany
Jaxson Rivera
>only 9%
Nathaniel Sullivan
He rode a bike like Che Guevara did and stuff... I think he did a Tedx talk too... Cool huh?
Samuel Fisher
The selling out to foreigners, was a part of the deal even since the first Memorandum. The previous governments merely stalled that, but they have signed it anyway and eventually it was going to be done anyway. This was not a new term in the third Memorandum that was given to syriza, it was there since the first.
