“America should bail out the Euro”, say europhilesPosted on January 1, 2011
In 1972, German Chancellor Willi Brandt announced a gesture of thanks from the German people to the USA for the Marshall Plan reconstruction funds provided over the previous 25 years. He gave 150 million Deutschmarks to establish the German Marshall Fund of the United States, a think tank and grant-giving body to encourage discussion and understanding between Europe and the US.
The tone of the Fund was set from its birth – in effect, Brandt was giving the US bak some of their own money to be used on his terms. Since then it’s been a voice for Eurofederalism for the last 38 years.
Now, though, the German Marshall Fund has perhaps pushed things too far.They are too smart to pretend that the Euro is safe and solid, and their proposed solution is that the USA should bail the single currency out.
If German taxpayers are furious about bailing out Ireland and Greece, can you imagine how their American equivalents would respond to the idea of bailing out this failed project? It will go down like a lead balloon.
The Americans are getting a taste of a classic EU approach: they will take your money hand over fist, sweeten you up with a generous “gift” of a slice of your own cash, and only later will you find out that this money has in fact been given to try to get more cash out of you. I somehow doubt they will put up with as patiently (and foolishly) as we have.