Joseph Stiglitz: Italy to lead mass walk out of eurozone so we must scrap the Euro

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[h=3]NOBEL Prize-winning economist Joseph Stiglitz predicts Italy will be the first of a slew of countries leaving the eurozone in the next few years as he blames the financial crisis on the EU, the euro and Germany.[/h]The European Union (EU) lacks the decisiveness to undertake needed reforms such as the creation of a banking union involving joint bank deposit guarantees, he told Die Welt newspaper. Mr Stiglitz, the World Bank's former chief economist, accused the bloc of lacking solidarity across national boundaries. He said: "There will still be a euro zone in 10 years, but the question is, what will it look like? It's very unlikely that it will still have 19 members. It's difficult to say who will still belong.

http://www.express.co.uk/news/world/718218/Joseph-Stiglitz-Italy-out-eurozone-scrap-euro
 
i will never figure out how putting greece and germany in the same currency is a good idea. This is why I dont trust economists. They all say its great but its dumb.
 
Milagro said:
[h=3]NOBEL Prize-winning economist Joseph Stiglitz predicts Italy will be the first of a slew of countries leaving the eurozone in the next few years as he blames the financial crisis on the EU, the euro and Germany.[/h]The European Union (EU) lacks the decisiveness to undertake needed reforms such as the creation of a banking union involving joint bank deposit guarantees, he told Die Welt newspaper. Mr Stiglitz, the World Bank's former chief economist, accused the bloc of lacking solidarity across national boundaries. He said: "There will still be a euro zone in 10 years, but the question is, what will it look like? It's very unlikely that it will still have 19 members. It's difficult to say who will still belong.

http://www.express.co.uk/news/world/718218/Joseph-Stiglitz-Italy-out-eurozone-scrap-euro
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to survive i would imagine you would need the storonger currencies on the euro and the weaker ones on something else.

BUT germany will not agree to this as it removes the main benefit of the euro to them which is having a weaker currency (currency manipulation) since greece and the others are there to weigh it down.
 
tsuke said:
i will never figure out how putting greece and germany in the same currency is a good idea. This is why I dont trust economists. They all say its great but its dumb.
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Well you can blame Goldman Sachs for that, they cooked the books to make it look like Greece complied with the stability criteria.

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Milagro said:
Well you can Goldman Sachs for that, they cooked the books to make it look like Greece complied with the stability criteria.

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its not just greece. I named them cuz they are the worst off. Italy Spain Portugal Ireland Poland and the other eastern european countries they have no business having a currency as strong as the Euro. There is literally no benefit to them.
 
None of the Eastern European countries are in the Eurozone, which is incredibly lucky for them.



https://en.m.wikipedia.org/wiki/Eurozone
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Rana prattles on about the effects of Brexit yet you'll never hear a peep from her on the huge crisis looming in Germany, Italy, Spain and Greece which threatens to be every bit as bad as the 2008 financial crisis. I haven't seen one mention on here about the effect that the proposed $14 billion fine on Deutsche Bank will have on the world economy. You all seem more concerned about the hurt feelings of some fat arsed South American ex-beauty queen.

http://www.express.co.uk/finance/ci...l-EU-economic-stability-US-fine-Deutsche-Bank

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