This thread is intended as an informed sceptical discussion regarding the economy of the Eurozone and how the common currency is failing to deliver. Specifically we have the ongoing case of Greece, with its septic focuses of economical disintegration.
As an example of it, I show bellow two graphics from a report made by Jefferies regarding the real budget transfers within Eurozone members compared with fiscal transfers within the United States -the "Dollarzone" for this purpose-. It shows the myth of how costly are the poor governments for those taxpayers in rich countries, and it also shows why the whole system is creaking like a hull which is about to start leaking everywhere at the same time.
The first graphic shows how Germany divert 0.5% of its GDP to assist her partners in the Eurozone, while 3% of Greece's GDP is made of transfers by other members of the Eurozone. Prosperous Luxemburg with its communitarian bureaucracy gets more as well as the three Baltic states.
However, the "Dollarzone" show much heavier transfers. The source I read said "... wealthy states such as Minnesota and New Jersey make a much more substantial contribution..." what I think is the other way around, first because the coherency of both graphics and second because I don't see Virginia and Maryland getting much money via fiscal transfers from the rest of the country when in fact both states enjoy the taxes and expenditures of residents working and making good money in DC (anyway, I will appreciate someone taking the time to contribute with more exact information regarding internal fiscal transfers within the USA)
As an example of it, I show bellow two graphics from a report made by Jefferies regarding the real budget transfers within Eurozone members compared with fiscal transfers within the United States -the "Dollarzone" for this purpose-. It shows the myth of how costly are the poor governments for those taxpayers in rich countries, and it also shows why the whole system is creaking like a hull which is about to start leaking everywhere at the same time.
The first graphic shows how Germany divert 0.5% of its GDP to assist her partners in the Eurozone, while 3% of Greece's GDP is made of transfers by other members of the Eurozone. Prosperous Luxemburg with its communitarian bureaucracy gets more as well as the three Baltic states.
However, the "Dollarzone" show much heavier transfers. The source I read said "... wealthy states such as Minnesota and New Jersey make a much more substantial contribution..." what I think is the other way around, first because the coherency of both graphics and second because I don't see Virginia and Maryland getting much money via fiscal transfers from the rest of the country when in fact both states enjoy the taxes and expenditures of residents working and making good money in DC (anyway, I will appreciate someone taking the time to contribute with more exact information regarding internal fiscal transfers within the USA)
via International Skeptics Forum http://ift.tt/1MJcFhx
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