giovedì 6 settembre 2012

The Eurozone towards 'Laissez-faire'...

(English version of... Eurozona verso il 'Laissez-faire'...)
Those in the Eurozone, caught between the internal disagreements about what to do and the ineffectiveness of remedies put in place (past, present and perhaps future), willingly and/or unwillingly, might just end up being a 'let it run its course' situation...
The Laissez-faire economic policy, in practice...
Native English speakers don't even attempt to find an equivalent term in their language.
"Here it is, at last!"  One of them might say... And one could also sarcastically add, 'Better late than never'...
Which, in a climate like the current one, can mean nothing other than putting into practice the "every man for himself" principle" or even the more dramatic "run for your life!".
After all, that's what happens over the course of many tragic events, when feasible common remedies either do not exist or cannot be reached, and it seems compelling to just throw in the towel. These are classic moments where elbowing, bullying and abuse are the norm, when it's survival of the fittest as a rule.
For many it's the more or less passive wait of what follows and the worst-case scenario... what will happen will happen.
After all, for stronger countries it may also be seen as a kind of way out (though certainly not painless). For countries already on the path to failure it may be nothing short of a total meltdown.
It's an extreme hypothesis, some might say. Well, who knows...
If nothing else it would be a good basis for developing an accurate long-term preventive analysis on the Euro's fate, as well as implications and consequences - since as of today no one (officially) seems to know where it is expected to end up. With regard to the fate of the single currency, everything could be "easily" solved in terms other than its final destruction. It's good for virtuous countries that have money because they were able to save money at the right time, but it's unfortunate for countries that overspent, who have mountains of debt and empty pockets. [And who should pay the final bill for the disaster in these countries is another matter]
In this perspective, the Euro would really be "irreversible", as the ECB's number one man, Mario Draghi has stated (that would be the "wizard of high finance" who foresees and declares: "growth will get better near the end of this year").
(A provocative post... and not only!)

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