mr president so the european council will adopt the decision to amend the treaty with regard to the european stability mechanism but will allegedly help countries stay inside the eurozone
of course it will fail not for want of money being thrown at the problem but because the problem is endemic
this is a mechanism that will try to make water flow uphill the external value of a country's currency should reflect the demand for and supply of its currency which of course should then reflect the demand for its exports visible and invisible and the demand for its imports visible and invisible as well as capital movements
the same currency value cannot possibly reflect the economic conditions in seventeen different countries
far from needing a mechanism to keep failing countries inside the eurozone we need a mechanism to rescue them from it
even those countries that have seen successes in the eurozone will be better off outside with revalued currencies
