Flooding The Market

George Friedman of Stratfor takes a view that others have promoted in whole or part that Germany set up the euro in large part to protect German creditors from its customer countries inflating their way out of debt. With this in mind Friedman goes on to propound that Merkel's actions are predictable because they will all be taken to ensure the euro continues to perform that function. Thus logically Germany cannot allow even Greece to leave the free trade zone. Friedman also believes that the euro crisis was caused by Germany flooding the eurozone market with its goods and by the imposition of regulations by the EU Germany had insisted on. Friedman goes on to say that Mrs Merkel knows that eventually Germany will have to agree to pay for the cost of the crisis but in the meantime she will do all she can to ensure that the new structure is suitable to Germany above all others. If this alone is not a reason for us to say goodbye to the EU it is certainly one of the weightiest ones. There is not time for us to try and beat Germany at this game as we do not currently have enough muscle nor at the end of the day would it profit us to do so even if it is always a pleasure to get the best of the Germans. Better by far that we concentrate on getting our finances sorted out and achieve the export and other rankings in the world that are rightfully ours or would be if we worked as hard at these issues as we did at winning medals at this year's Olympics. Despite what Friedman says I do not accept that Germany specifically set out to flood the EU market with its goods as to do so would inevitably lead to a reaction. The result though of Germany's action compounded by other idiocies going on in the world like the sub-prime market bubble and the dysfunctional euro led to the euro crisis that is likely to affect us all. This year is the  twentieth anniversary of our crashing out of the ERM which released us from the strait jacket ruining our economy. Leaving the euro will have the same affect on the economy of each country that does so  despite the initial pain they will suffer and whatever the eurocrats may say.