Article

2010-06-24 Economy

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Posted by Frozen Al 2010-06-24 13:44|| || Front Page|| [4 views ] Top

#1 Does this mean the German Marks I neglected to exchange and stashed in some box will once again be legal tender? In that case, I'm in!

Posted by ed 2010-06-24 15:37|| 2010-06-24 15:37|| Front Page Top

#2 I don't think corruption will kill the Euro, by itself, because it is typically factored in to currencies as a cost of doing business. It can be calculated as a *reaction* to bad government policies--a way for the common man to cause economic adjustment. As such, it is like the other laws of economics that politicians hate.

For example, bribes are a two way street. Without a bribe, a person gets no or poor service. With a bribe, they get good and prompt service. The person getting the bribe does not feel rewarded enough by his boss, and the person giving the bribe thinks they are getting preferred service. Both of them think they are sticking it to "the system", which they both hold in contempt.

If widespread enough, bribes cause inflation from the ground up. This punishes the government for having too loose a fiscal policy.

Posted by Anonymoose 2010-06-24 18:44|| 2010-06-24 18:44|| Front Page Top

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