Sunday, May 13, 2012
The Eurozone, created on January 1, 1999 and doomed to fail from the beginning, is comprised of seventeen independent nations. These nations have their own President or Prime Minister along with their own Congress or Parliament. The elected officials are responsible for looking out for the best interest of their nation and its citizens. This responsibility takes precedent over any agreement made with the Eurozone and its members..
Unlike the United States, each member of the Eurozone is not governed by the constitution of a "central government". The Eurozone does not have a central bank and each country does not have power to print its own money.
It is the responsibility of the German Chancellor to look out for the best interest of the Germans, while the Greek politicians have a fiduciary responsibility to the Greek citizens. These cannot be reconciled. The Germans used the Eurozone to help absorb East Germany. More: http://bit.ly/FFM201202GG