Alan Kohler is one of Australia’s most experienced commentators and journalists. Alan is the founder of Eureka Report, Australia’s most successful investment newsletter, and Business Spectator, a 24-hour free business news and commentary website. He also hosts Inside Business, a half-hour Sunday programme on the ABC, is the finance presenter on the ABC News - and producer of the nightly graph (or two).
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Comments on this article
Comments PolicyAn excellent article which outlines the reality well (See A euro power play that backfired, August 17). If the choice is perpetually bankrolling la dolce vita of peripheral European nations or weakening their trading status by returning to the deutschemark I think they will choose the latter. The world loves German engineering... quality always commands a premium.
The things you learn. This article is truly fascinating. Thank you (See A euro power play that backfired, August 17).
If there is one thing to learn from this, it is that the country which is producing high quality, well regarded goods (Mercedes Benz, BMW, Bosch), is going to come out much stronger that the country with the best banks (Lloyds, BNP, Citibank) (See A euro power play that backfired, August 17). Manufacturing and exporting will always win over services and money shuffling.
Great article, Oliver. Keep them coming (See A euro power play that backfired, August 17).
You are spot on Oliver (See A euro power play that backfired , August 17). Why doesn't anyone believe me when I tell them though? History is a great teacher about the future as we are starting to see played out in front of our eyes, right around the world outside of Australasia.
A first class article Oliver (See A euro power play that backfired , August 17). I think the knowledge you have shared is invaluable in understanding how the "European experiment" was established for the wrong reasons. The German people will eventually get sick of propping up the rest of profligate Europe and the whole experiment will collapse in tears, in my opinion.
I hope this drama will be finished soon and Germany is leaving the EU and Euro. We still will be the "bad Germans" whether we stay or we leave (See A euro power play that backfired , August 17).
Delightful reading, brilliantly expressed. Many thanks for sharing an entertaining lesson in history (See A euro power play that backfired, August 17).
"Excellent." "Spot on", "first class", etc. All this flattering back-slapping for Oliver is getting boring. Not one dissenting voice, picking out all the holes in his argument (See A euro power play that backfired, August 17).
For example....
Damn.
I can't see any holes either.
Nice work, Oliver.
"Euro as French insurance policy against German power." That's a weird view of how every thing had been put in place at the time (See A euro power play that backfired, August 17). It was all about building the dream and it's working pretty well. The euro works quite well, so well in fact that it is far too strong with 80% appreciation in ten years.
The Germans still yearn for their 'Deutsche Mark' and quite rightly would just prefer to be another Switzerland (as I wish Australia were the Switzerland of the Southern Hemisphere).
The irony is that the countries with the biggest jitters are also - historically - sibling countries. A case of sibling rivalry? (See A euro power play that backfired, August 17.)