Gold sacrifice

Unless otherwise defined, this refers to the request that, within EMU, countries with high gold holdings in their currency reserves use them in some way for the benefit of highly indebted members. This has repeatedly been described as an act of solidarity and a just demand by the deficit countries. – What is overlooked, however, is that it is against the spirit of community for EMU member countries to borrow far beyond the limits set by the Stability and Growth Pact in the tacit expectation that other members will pay for the accumulated debt. – See bail-out, European Monetary Union, fundamental error, Friedman thesis, gold backing, gold reserves, German, gold sale, Greek crisis, moral hazard, neuro, solidarity, financial, return ideology, special drawing right, TARGET abuse, transfer union, contract compliance, Monetary Union 2.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/