BusinessInsider reports:
George Soros made an assertion aimed at the heart of the euro crisis: Germany should either agree to introduce "Eurobonds" – which would mutualize the public debts of all of the euro zone member states – or step out of the way and leave the euro, so that the remaining member states could move forward with debt mutualization.So Soros (in order to save the Union) is going to bat for the deadbeat nations.
The U.S. went through something very similar in its early years (to save the newly formed Union). In 1790, northern states, who were the deadbeats loaded with Revolutionary War debt, wanted the new federal government to assume them. The Southern states, who largely paid their debts were naturally against the idea....much like Germany is against the Eurobond idea today.
Alas, the deadbeats were able to get their way in The Compromise of 1790 and the U.S. federal government assumed the debts. In exchange, Southern states would be appeased by having the U.S. Capitol moved from NY down to the Potomac River.
The timeless government principle of rewarding debtors at the expense of savers was well on its way in the young United States.
Odds of the same thing happening in Europe are probably pretty good. The globalists will try everything to keep their experiment going.
So what will Germany, prior to caving on the Eurobonds, ask for in return?
Perhaps a lifetime supply of Armani suits for German Climate Change Policymakers?
Or maybe a daily supply of French baguettes for all German public schoolchildren...
Germany can always go the U.S. route and demand that the capitol of the EU be moved to Berlin; but that sounds like a lot of paperwork...
Whatever they decide, the deadbeats will once again get their way, and the timeless government principle will live on.
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