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Szołucha, Marian

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Nasz Dziennik - Poland | 21/08/2013

Germany can't afford euro exit

In an interview on the weekend, the chief advisor to the German Finance Minister, Kai A. Konrad, recommended that Germany leave the Eurozone, arguing that that's the only way Europe can be saved if the euro fails. The Polish economist Marian Szołucha disagrees in a commentary for the national Catholic daily Nasz Dziennik: "Konrad is right when he says that the situation in the Eurozone will get worse, and that the economic differences between the European states will grow. ... Nevertheless I can't go along with the statement that Germany should abandon the euro, because the Germans are the ones who benefit from it most. If our neighbours were to go back to their national currency, the value of the mark would be very high. The competitiveness of German exports would sink. For that reason the Germans stand to lose far more with such a step than they're losing now by paying into bailout and aid funds."

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