The future of Europe

The rich countries of the northern euro zone are bearing the brunt of bailing out their debt-stricken fellow members. Resentment is growing among their populations, helping euroskeptic right-wing populists to win support. But there is little awareness of how much the European Union has done for their own countries.

Many in Chancellor Angela Merkel's conservative Christian Democratic Union party are unhappy about Germany's growing commitment to euro bailout packages and fear that the nation is being locked into a "transfer union" in which German taxpayers will end up bankrolling high-debt nations that got themselves into trouble through their own profligacy. (Source: Der Spiegel

The news from northern European countries is bad. It looks like the rich countries do not want to support the laziness of the olive countries.

I always maintained the Euro was a bad idea. I still do.

George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
2009 Market Timer of the Year by Timer Digest

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