Euro Collapse actually good for US?


Will Europe problems help the US?

In a fascinating article over at Pajamas Media entitled “What Would a Euro Collapse Mean for the United States?”, Soeren Kern quotes three heads-of-state:

But European officialdom is now reeling from an outbreak of apostasy within its own ranks. The chief heretic is German Chancellor Angela Merkel, who in recent weeks has said publicly what many have been speculating about privately: “The euro is in danger. … If we don’t deal with this danger, then the consequences for us in Europe are incalculable,” Merkel recently told Germany’s Süddeutsche Zeitung. She repeated the warning in a speech to the German Bundestag: “The current crisis facing the euro is the biggest test Europe has faced in decades. It is an existential test and it must be overcome … if the euro fails, then Europe fails,” she said

Merkel’s fears have been echoed by European Central Bank President Jean-Claude Trichet, who told the German newsmagazine Der Spiegel that these are “dramatic times” for the euro and “the most difficult situation since the Second World War, perhaps even since the First World War.”

Italian Prime Minister Silvio Berlusconi told fellow European leaders in Brussels that the euro is in a “state of emergency.” (Berlusconi once said that the euro “screwed everybody.”)

Meanwhile, French President Nicolas Sarkozy is said to have threatened to pull out of the euro altogether unless Merkel agreed to back the EU’s giant €750 billion bailout. The threat was reported by Spain’s El País newspaper, which attributed the information to Spanish Prime Minister José Luis Rodríguez Zapatero. El País reported that Sarkozy “banged his fist on the table and threatened to leave the euro, which obliged Angela Merkel to bend and reach an agreement.”

Why do I get a vision of The Three Little Pigs here?

The entire article is very informative.

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