To be honest, I don't really understand the whole EURO thing
Because money is printed out of nothing, how could Portugal give up this right to ECB?
For a normal citizen, he might not have any choice but obey the government rules, but for a government of the country, how could they give up this biggest right of the country to someone else?
I think none of the government officials understand how money creation works
Because money is printed out of nothing, how could Portugal give up this right to ECB?
For a normal citizen, he might not have any choice but obey the government rules, but for a government of the country, how could they give up this biggest right of the country to someone else?
I think none of the government officials understand how money creation works
Because when times were good it meant they could get access to money at lower rates then they ever could have if they stayed out of the Euro.
We've gone past the point of silly with the Euro now. It's no longer of any benefit to 90% of its users and for the people of Greece and Cyprus it's almost unbearable. The latest demands of the IMF/EU/ECB on Greece are to close hospitals in order to get its deficit down
I always thought Greece would be the first place to have a coup but maybe now it will be Portugal.