日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

US EUROPE AFRICA ASIA 中文
Opinion / Op-Ed Contributors

Post-Greece, Germany and EU face reality

By Erwin Grandinger/The Globalist (chinadaily.com.cn) Updated: 2015-07-06 14:20

Post-Greece, Germany and EU face reality

A man looks at newspapers showing the results of yesterday's referendum in central Athens, Greece, July 6, 2015. [Photo/Agencies]

What we are witnessing in Greece and beyond, in Europe, is an absurd but not entirely unexpected spectacle. During the past couple of decades since the fall of the Berlin Wall and the disintegration of the Soviet Union, there has never been such a powerful agglomeration of political risk. Fear reigns supreme not just among investors.

Greece is a pile of shattered illusions. The euro has been decimated. The upcoming global turnaround in interest rates is hitting the Greeks with full force.

Moreover, it threatens all Western European welfare states that have lived beyond their means for decades. After all, the steady fall in interest rates has added fuel to the fire of welfare spending in Europe over the past 40 years.

Even in Germany, supposedly a “winner” of recent developments and economic trends, life insurance and state budgets are already at the breaking point.

How can a country survive if total debt (beyond the public sector alone) is growing in real terms with the passage of every year, with no reserves accumulated for social security and pensions? All this comes against the background of daunting demographic trends.

In short, far beyond the serious problems in Athens, we are dealing with a monetary union that has a ruined reputation and lost much resilience.

The idea to create a modern and homogeneous copy of the Empire of Charles the Great — called “Maastricht” this time around — was na?ve. It has now failed, with and through Greece. This is the core message that policymakers are now starting to realize.

For some, this is extremely discomforting because it means that Europe will remain a continent of nation states.

But why else would the British government call a referendum on leaving the European Union probably next year? Why else are very EU-skeptic trends gaining strength in other countries? The underlying message seems simple: If you are riding a dead horse, you need to get off.

Previous Page 1 2 Next Page

Most Viewed Today's Top News
...
主站蜘蛛池模板: 日韩精品国产精品 | 日本一级大毛片a一 | 99精品免费观看 | 国产综合精品久久久久成人av | 日本黄色免费在线观看 | 亚洲激情在线观看 | 中文字幕一区2区3区 | 国产激情视频一区 | 日韩欧美亚洲 | 人与动物性xxxx | 亚洲第一页综合 | 成人网页在线观看 | 艳母动漫在线免费观看 | www.黄色在线| 色综合久久久久 | 久久久久女教师免费一区 | 欧美一级在线观看 | 亚洲一二三四五六区 | 久久精品99国产精 | 97福利影院 | 日日躁夜夜躁狠狠躁 | 青草国产视频 | 欧美成人女星 | 欧美性生交 | 日韩在线播放视频 | av有码在线 | 91丨九色丨黑人外教 | 午夜精品免费 | 色伊人影院 | av一区二区三 | 国产激情av | 中文字幕av在线 | 四虎视频国产精品免费 | 久久久人 | 精品国产网 | 日本免费一区二区三区 | 手机看片欧美日韩 | 亚洲天堂中文字幕在线 | 精品久久99 | 欧美激情视频在线 | 亚洲成人网在线播放 |