Wednesday, December 01, 2010
Germany cannot be blamed for not wanting to bail out all of Europe. They had a stable and strong currency, and now the Euro may not be so stable and they have to bail other countries within the European Union out. While we cannot know for sure what would have happened if Germany did not change to the Euro, their frustration is certainly warranted. While I was reading the article all I could think was that this was just an extension of everything that Olson was talking about. The European Union is simply a large group, and they are increasing the regulations on all of the countries involved, and slowing down all processes. It will be interesting how this will end up playing out. It is hard to think that it will follow the same pattern as a country, however it could be possible. I think it mostly depends on how far the European Union goes in regulating the countries involved, however it is certainly something to keep your eye on.