According to the following article from the Philadelphia Trumpet, the power elites of Europe knew when they conceived of the Euro, that weaker countries would not be able to remain within the economic parameters of the EU.
"After the EU single currency system was implemented, certain voices predicted the failure of the euro. A handful 
theorized that the euro may well even have been deliberately created to fail by certain German elites. The theory was that Germany would bide its time and allow the unworkable monetary union to prevail till it reached a point of collapse and then, having wrested control of the European Central Bank (ECB) out of any competitors hands (read France, in particular), move in quickly and take direct control of EMU administration. Germany could then ensure that a preferred core of EU member nations would receive ECB favor, with the disfavored reduced to vassal status or worse."
Leaders of the plan were "aware of the difficulty of convincing voters to willingly relinquish their national sovereignty. Monnet felt that the only way to achieve unification, without war, was through stealth. The people must not know that sovereignty has been surrendered until it is gone.
English conservative and author Adrian Hilton described Monnets intentions for Europe this way: Europes nations should be guided towards a superstate without their people understanding what is happening. This can be accomplished by successive steps each disguised as having an economic purpose, but which will eventually and irreversibly lead to federation ("The Principality and Power of Europe") As Monnet said on April 30, 1952 The fusion [of economic functions] would compel nations to fuse their sovereignty into that of a single European state."
When the euro was created, a chain of events was set in motion. For nations like Greece, a future debt crisis was almost inevitable.
1. By joining the eurozone, Greece traded its inflation-prone drachma for the stability of the euro. It also gained the economic borrowing clout of a superstar, even though it had the economy of a small supporting actor.
2. Initially, these two advantages vastly improved the standard of living for the people of Greece. They allowed corporations, individuals and government to borrow money at the low rates typical within large developed countries like Germany.
3. The new low interest rates were more than Greece could resist. All levels of society binged on seemingly cheap money. The government, for its part, embraced a massive welfare state, also made possible by easily obtained low-interest loans.
4. [T]here was a good reason Greece paid far higher interest rates to borrow money when it was not a member of the Union. Greece has a history of borrowing too much.
5. With a projected budget deficit of 12.7 percent of the nations gross domestic product, Greece is far out of compliance with the eurozones mandated 3 percent maximum.
So, what does Greece do, and how does it pay its bills?
1. Typically when a country takes on too much debt, it contracts Argentine-disease. Known also as quantitative easing, countries devalue their currency by turning on the money printing presses and simply creating the currency to pay the bills.
2. The economy also gets a short-term kick-start because a devalued currency makes exported goods less expensive; thus foreigners buy more domestic products.
3. Greece, however, does not have this option. Since it is locked into the euro, it does not control the printing presses. Germany does.
The Telegraphs Ambrose Evans-Pritchard wrote on January 31 that the solution to the crisis could involve a paring down of the eurozone. He noted the possibility of a bloc of nations centered on Germany leaving the eurozone and creating a new currency: the Deutsch mark 2. The rest of the eurozone countries would then be free to devalue the euro (turn on the printing presses) to pay down debts.
It is Time for the Eurozone to Grow Up, headlined the Wall Street Journal on February 8. There is a way out of this dilemma, it wrote. It would require a European federal government with substantial taxing and spending power, with the ability to redistribute resources and impose fiscal discipline across the continent. In short, it would require a far greater degree of political union . Yet the choice is now clear and inescapable.
The crisis has revealed our weaknesses, said European Union President Herman Van Rompuy in February. Recent developments in the euro area highlight the urgent need to strengthen our economic governance. Europe needs a powerful economic government, he said.
Yes, the days when the free nations of Europe charted their own destiny are indeed "
The Greek Crisis Was Planned! | theTrumpet.com by the Philadelphia Church of God
"After the EU single currency system was implemented, certain voices predicted the failure of the euro. A handful 
theorized that the euro may well even have been deliberately created to fail by certain German elites. The theory was that Germany would bide its time and allow the unworkable monetary union to prevail till it reached a point of collapse and then, having wrested control of the European Central Bank (ECB) out of any competitors hands (read France, in particular), move in quickly and take direct control of EMU administration. Germany could then ensure that a preferred core of EU member nations would receive ECB favor, with the disfavored reduced to vassal status or worse."
Leaders of the plan were "aware of the difficulty of convincing voters to willingly relinquish their national sovereignty. Monnet felt that the only way to achieve unification, without war, was through stealth. The people must not know that sovereignty has been surrendered until it is gone.
English conservative and author Adrian Hilton described Monnets intentions for Europe this way: Europes nations should be guided towards a superstate without their people understanding what is happening. This can be accomplished by successive steps each disguised as having an economic purpose, but which will eventually and irreversibly lead to federation ("The Principality and Power of Europe") As Monnet said on April 30, 1952 The fusion [of economic functions] would compel nations to fuse their sovereignty into that of a single European state."
When the euro was created, a chain of events was set in motion. For nations like Greece, a future debt crisis was almost inevitable.
1. By joining the eurozone, Greece traded its inflation-prone drachma for the stability of the euro. It also gained the economic borrowing clout of a superstar, even though it had the economy of a small supporting actor.
2. Initially, these two advantages vastly improved the standard of living for the people of Greece. They allowed corporations, individuals and government to borrow money at the low rates typical within large developed countries like Germany.
3. The new low interest rates were more than Greece could resist. All levels of society binged on seemingly cheap money. The government, for its part, embraced a massive welfare state, also made possible by easily obtained low-interest loans.
4. [T]here was a good reason Greece paid far higher interest rates to borrow money when it was not a member of the Union. Greece has a history of borrowing too much.
5. With a projected budget deficit of 12.7 percent of the nations gross domestic product, Greece is far out of compliance with the eurozones mandated 3 percent maximum.
So, what does Greece do, and how does it pay its bills?
1. Typically when a country takes on too much debt, it contracts Argentine-disease. Known also as quantitative easing, countries devalue their currency by turning on the money printing presses and simply creating the currency to pay the bills.
2. The economy also gets a short-term kick-start because a devalued currency makes exported goods less expensive; thus foreigners buy more domestic products.
3. Greece, however, does not have this option. Since it is locked into the euro, it does not control the printing presses. Germany does.
The Telegraphs Ambrose Evans-Pritchard wrote on January 31 that the solution to the crisis could involve a paring down of the eurozone. He noted the possibility of a bloc of nations centered on Germany leaving the eurozone and creating a new currency: the Deutsch mark 2. The rest of the eurozone countries would then be free to devalue the euro (turn on the printing presses) to pay down debts.
It is Time for the Eurozone to Grow Up, headlined the Wall Street Journal on February 8. There is a way out of this dilemma, it wrote. It would require a European federal government with substantial taxing and spending power, with the ability to redistribute resources and impose fiscal discipline across the continent. In short, it would require a far greater degree of political union . Yet the choice is now clear and inescapable.
The crisis has revealed our weaknesses, said European Union President Herman Van Rompuy in February. Recent developments in the euro area highlight the urgent need to strengthen our economic governance. Europe needs a powerful economic government, he said.
Yes, the days when the free nations of Europe charted their own destiny are indeed "
The Greek Crisis Was Planned! | theTrumpet.com by the Philadelphia Church of God
