I agree with Branson's conclusion, but disagree with his proselytising. It's not up to Branson to judge Germany and France. In fact, I think it is increasingly clear that the European Union was poorly conceived, horribly implemented idea from the get go.
Europe is *NOT* the U.S. Its people are not even close to united. They think differently. They look different. They speak differently. They have totally different cultures. And, historically, they've been at each others' throats.
That's a lot to try to just hope away.
Then introduce the massive debts of the various nations, the wildly different work ethics, the amount of forgiveness being foisted onto the backs of a relative few . . . and the fact that the whole thing was conceived by bankers for the benefit of bankers.
Nope. I don't see how bailing out the PIIGS is going to help Germany or France. And I don't see how it is the "right" thing to do - any more than a taxpayer-funded rebuild of JOPLIN MO is "right."
This isn't Germany's or France's problem. Greece has no business expecting these other people to take on their debt.
May 31, 2011, 12:38 PM ET
Branson ‘wouldn’t bet on the euro’
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In a blog post Tuesday, the serial entrepenuer says his chief execuvite has warned him of a sharp weakening of the U.S. dollar.
But Branson, while not denying the dollar’s problems, doesn’t see that as a boon to the euro.
I wouldn’t bet on the Euro unless Germany/France do the right thing, stop dithering and take decisive action once and for all to secure the long term future of Greece, Ireland and Portugal.
Full article: http://blogs.marketwatch.com/thetell/2011/05/31/branson-wouldnt-bet-on-the-euro/
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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