Of course Greece must leave the European Union.
In fact, so should every other member country if it means returning to a country-by-country currency.
Imagine, if you will, the Green Bay Packers playing the Denver Broncos in the Super Bowl. (I know, I know, all you Tebow fans are already dreaming of that matchup.)
Also imagine the NFL implementing a new rule stating the Packers could only run the ball and were prohibited from passing.
Do you believe the odds of the game would change in favor of the Broncos? Yes, they definitely would.
Why? That’s because one of the primary offensive weapons in football, passing, would be eliminated from usage by one team.
This change in balance brings tremendous advantages, which is exactly what happened when 27 countries formed a singular currency, the euro.
Over the past decade, Germany’s export strength has been unmatched. Their bonds are second to none, including the United States.
However, Germany’s currency, the euro, has been diluted by combining their strength with the weaknesses of countries such as Portugal, Italy, Ireland, Greece, and Spain (the PIIGS).
As Germany exports their way to success, the real strength is masked and consequently the currency rise is not experienced.
We will send Treasury Secretary Little Timmy Geithner to China to request a de-pegging of the yuan from the dollar so we can gain an advantage. However, we would never think of demanding Germany to drop out of the European Union so their currency would stand on its own.
If we did, and Germany complied (fat chance) the other EU members would find better competitiveness and the real possibility of survival.
Yet, until Greece and the other countries return to their own printing press, which means their own currency, they will continue to be at the mercy of the German manufacturing juggernaut.
It’s no wonder that Angela Merkel continues to say “Greece leaving the euro is not on the table.”
Political self interest always supersedes collective think.
Until we move back to the gold standard, the power of the printing press cannot be denied.
The chances of this happening anytime soon are slim and none, therefore it’s back to the printing press and the conventional historic weapon of currency devaluation.
Therefore, ultimately, Greece will return to the drachma.
They’re no fools, they want to be able to run and pass.
However, I do like the rule change of no passing for any of Tebow’s opponents.
Advantages are hard to come by, and Tebow needs all the help he can get. Oh well, it’s only wishful thinking.Go Greece and go Tebow!