Did Europe Forget the Exit Clause?

It’s the early to mid ’90s. Reunification is getting set in Germany. Europe is slowly moving towards the Euro. Meanwhile, Yugoslavia disintegrates into smaller states.

My friend Jerome prepares his tuna salad to take to work. This pround Frenchman from Lyon then passes a remark that causes me to reflect. He says something to the tune of “Look at them, falling apart like this, while the rest of Europe comes closer.”

Europe, on the whole, is excited about the upcoming Euro. It adds to their identity on the world stage. The economic implications of the Euro look promising on paper. Europe goes ahead with the Euro soon after the turn of the millenium.

The “All for one, one for all” idea is an ideal. It’s utopic. Unfortunately, we live in the real world. The real human being is a selfish animal. In this real world, ideals have a tough time existing.

In its excitement, Europe probably forgets to add an exit clause. If there is an exit clause, we are not hearing about, and now would be the time to hear about it.

A decision taken while one is excited causes one to overlook the flip-side. This flip-side is emerging now. Certain nationals are more industrious and believe in paying their taxes. Others are lazy, corrupt and believe in cutting corners. Certain Euro nations are more economically astute and clued in. Others are perhaps not so intelligent or don’t want to be, and have made disastrous economic and financial choices.

The lack of an exit clause allows parasite nations (the truth is harsh) to stooge off the diligent ones till infinity, or till time does them apart.

Though it’s very late to say these words, one doesn’t see enough people saying them already. Not treating the financial disease at its root is causing it to spread. Unfortunately, everyone’s affected, at least for now. Whenever decoupling sets in, decoupled nations won’t be affected, but decoupling doesn’t seem to be happening anytime soon.

Would you like it if someone took your hard-earned cheese away? No, right? Well, nor do the Germans, or the French. Why would one expect them to like it, or pretend to keep lilking it?

Thus, why would one expect the Euro to remain intact till infinity?

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2 thoughts on “Did Europe Forget the Exit Clause?

  1. I hope in the wake of the recent events they reevaluate the concept of one currency – Euro. After all one bad apple spoils the bunch!

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