Watch the full 40-minute video at http://www.goldmoney.com/kerber-turk-interview
. Prof. Markus C. Kerber, Professor at TU Berlin, and James Turk, Director of the GoldMoney Foundation, talk about the split among German politicians over the bailouts. He talks about the very strong discussions over whether to let Greece exit the euro. The position that no country would be allowed to fail set the stage for all the further bailouts. Despite being an exporting nation, monetary stability helped Germany and helped competitiveness.
The strength of the D-Mark encouraged exporters to improve their efficiency and invest in capital and deal with other countries’ devaluations. James explains that devaluation only helps exporters in the short term.
This interview was recorded on September 30th 2011 in Vienna.