Europe is now becoming the sick continent of the world. With a great number of countries now in recession, things are not moving in a direction European policymakers would expect. But the crisis they find themselves in is a situation they created in that they allowed it to take place through misguided policy decision. Therefore have they seen the light now? The majority of the members in my opinion now see growth as an inevitable policy option and this means slowing down this deficit cutting exercise.
Germany does not see things in such a way and as a result the whole grouping is going to suffer. What’s evident is that there is no equality among the member countries of the Euro-zone and EU at large. Germany and company have the largest say and in the current predicament facing Europe, its large sway is negatively impacting the welfare of the Euro-zone. The current Euro-zone setting is like an Animal Farm with Germany being the big bully.
I just hope those in charge of policy-making see sense for once and do what’s right and best for everyone.
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