Why the Euro cannot survive with Germany at its centre

German Economic Policy and the Euro

Contrary to prevailing opinion among the European political class the main problem that the Euro faces is not the fiscally profligate and politically incompetent and corrupt Greece or its Latin neighbours, the problem is the ruthlessly competitive Germany. They have still not understood that the problems within the Eurozone stem from the deliberate conduct of German economic policy via the ECB and the effect of the huge disparity between the German economy and those of the Mediterranean-Rim countries.

The Euro has effectively become a German currency empire which is draining the resources of the Eurozone’s smaller economies.

The harm that German policy is causing is so severe that the Mediterranean-Rim countries are caught in a debt trap where their economies are suffering, they are incurring debt and must then impose austerity measures which further weaken their economies. Yet their economies will not grow so long as the Euro helps German manufacturers dominate the Eurozone.

Germany’s success, however, is not just hurting other states in the Eurozone. Even the UK has taken on some of the costs of bailing out part of those economic problems. Only in the corrupt corridors of Brussels can this be considered right.

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The Bruges Group is determined to fight for a Britain free of the EU and to expose how Britain, as a result of EU rules which have their legal base in the EU Constitution (the Lisbon Treaty and its amendments), has also been involved in paying for some of the harm caused by the Euro favouring German economic interests.