Trouble is Arthur, Greece and the mediterranean countries have nearly broken the Eurozone. Pre War, Sterling was underpinned by the Empire, post war undermined by the Americans.But now in 2015 we do have a stable reasonably strong currency.It ain't broke etc etc.But it could not support Greece, they have no reserves and Gordon Brown sold ours off cheap hence the near same thing happening here.They would bust a sterling zone as well and quite probably near bust a dollar zone.The trouble is the fiscal bods overlook two things. Geography and culture.The Eurozone is based on a Northern European work ethic and industrial culture which is structured around it's cooler temperate climate. We had to work hard to produce to enable survival of winter. That evolved into the industrial revolution and has created the format to which we adhere. Down south where the climate is quite different, so is the culture and the work ethic. It's implied that laziness is the problem with the economy, but if it was as hot and sultry for much more of the year here, we would have the same type of work ethic and culture.They Eurozone has tried to force a different culture and work ethic on the Med countries and it has only partially worked with those whose northern regions can sustain business and industry on the same terms as Germany, Sweden or Britain. Northern Italy for example.The expectation of Greek GDP and of other countries in the Med area is unrealistic.What is realistic is for the Greeks to get serious about rooting out the long established corruption stemming from the establishment and coursing right through society which has squandered what they do have and are capable of achieving.The trouble is it is happening here too and we are unable to do much about it either.All the same, Greece should remain as part of Europe and it's people looked if this mess gets worse.
Mark Kehoe ● 3934d