Take a closer look. The German elites are only holding out on bonds until their conditions are met. Right now, that country is giving out loans, with conditions that are almost loanshark-like; they haven’t given out a single grant. The elites in that country are quite adamant about not only saving the euro (which is in the image of the Deutsche mark), but also that political and economic union happen sooner rather than later . . . and political union entails more and more centralization, not a federal union like the USA but more like the USSR (which the EU is patterned after—take a look at the structure of the government in Brussels, something that
Vladimir Bukovsky described in quite frightening terms). There’s a reason why Jose Manuel Barroso described the EU as an
empire back in 2007 . . . that’s just what it is, and not a beneficent one at that.
German workers now retire at 67, or so I am told, and Greek workers 17 years earlier. Even with the German elite holding out for their desired terms, I (were I among the greater “non-elite” German workers) would not put up with that deal.
The “elite” can control things — to a point and during stability. Beyond that point? Greece is about there already.
I don’t have all the answers, but then neither does the European Council nor Frau Merkel. She had trouble finding Berlin on a map of Europe during a recent event. I live in Texas and have no problem doing so. I doubt Hollande could find much either.