Euro Crisis
Ireland's government has voted to accept the financial bailout and Germany is stumping up the most to keep the Euro intact. Hardly surprising then, as the Euro faces the worst crisis in its history, that many Germans want their beloved Deutschmark back. The former head of the German industry federation has just published a book called Rescue our Money. As Die Welt puts it, German politicians 'must be aware that the solvency of their own state is finite. They must contemplate an orderly unwinding of the Euro to fewer, relatively economically solid countries.'
Yet the politicians seem ready to shore up the Euro in the short-term with taxpayers' money, no matter the cost. Though the Maastricht Treaty has no bail-out clause, the EU is getting round its own rules and rescuing countries to counter the growing belief that the Euro will fail. There is more going on here than simply honouring a contract. Lenin said, 'If you want to destroy a government, first debauch its currency'. That is the underlying fear driving the EU into its 'all for one and one for all' behaviour. Preserving the 'eurozone' is a political covenant.
The problem with this unofficial Euro covenant is that it is not based on trust, but on fear and self-interest. It is a worldly covenant and might be enough to stave off collapse for a time, but not for ever. What happens to nations is a picture of what can happen to individuals. Fear and self-interest motivate so many temporary actions and agreements.
Relationship quality is what really underpins the long-term stability of any group of people. This is why the church has lasted, despite all the schisms, speculation and persecution it has faced. Though its human relationships are flawed and can fail, the church rests ultimately on God's love and a covenant that cannot fail: 'It was not with perishable things such as silver or gold that you were redeemed from the empty way of life handed down to you from your ancestors, but with the precious blood of Christ' (1 Peter 1:18-19). The life of Jesus is a currency that can never be debased.
'One who has unreliable friends soon comes to ruin, but there is a friend who sticks closer than a brother' (Proverbs 18:24).
'I will never leave you or forsake you' (Hebrews 13:4).
Paul Valler
"The problem with this unofficial Euro covenant is that it is not based on trust, but on fear and self-interest." Haven't I heard that somewhere else this week? ie The problem with WikiLeaks is that it shows that democracy is not based on trust, but on fear and self-interest.
Date:
2010-12-10 13:46:31
Author:
Christine Standing