My Advice to Italy and France: Don’t Poke Germany, They Might Leave

Varoufakis has said this in the past, that if maintaining the illusion of an artificial fiat monetary union becomes too expensive for those who have to support it (Germany), then Germany will simply exist. There is no problem with Germany going back to the Deutschemark. Or Mark. Or whatever it is. (Or GOLD or God’s sake.) It would cause a minor disruption but nothing catastrophic.

Then again, even Germany is sporting 80% debt to GDP. Back in the 19th century governments never ran more than 10%. Germany may well just leave because they cannot afford to finance the debts of even more indebted countries. France is at 93%. Italy, well, you know, they’re the second highest debt in the Eurozone.

France and Italy are now ganging up on Germany. This hasn’t gone well in the past. Those two should shut up, or they might push Germany out, simply because it doesn’t want to fund all this nonsense anymore.

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Mussolini’s Children Are Trying to Boss Around the 4th Reich

Or is it the Fifth one? I lose count. Some Italian zhlub Prime Minister is set to tell Merkel, apparently, that “enough is enough” and Germany cannot “humiliate” Greece any longer. From The Guardian:

“Now common sense must prevail and an agreement must be reached. Italy does not want Greece to exit the euro and to Germany I say: enough is enough.

Now that Tsipras has made proposals in line with the European demands, we must absolutely sign a deal. Humiliating a European partner after Greece has given up on just about everything is unthinkable.”

HA! You know why Italy with a 132% debt to GDP ratio is trying to bully Merkel around, when German citizens are the ones paying for this crap? Because Italy knows very, very well that it is next in line. If Greece goes, Italy is next.

Greece doesn’t have to be “humiliated”. The Greek government has to be humiliated. Humiliate it. Bring it down. Crush it and starve it so they cannot restrict the Greek people any longer. If I were Merkel, I would say to Greece, simply, “Do whatever you want. Print drachmas, don’t print drachmas, we don’t care. Just, you’re not getting any more money from my taxpayers. And whatever happens happens. Have a nice day.”