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Euro-PIGS In Deep Trouble, And So Is The EU
#21
mv Wrote:Stratfor -- sees ascendant Germany and saved Euro
Daily Mail -- predicts breakup of Euro.

X-roads.

After all that, I've changed my mind. Hopefully Germany Will decide to bail out Greece, Spain, Italy, Portugal, Ireland, France, Holland, Denmark, and everyone else needing a hand out.

That should keep Germany at home, and out of the bars, where she can remain barefoot and pregnant. Wink1
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#22
I'm sure that these anti-euros in London (who BTW have nothing to gloat about their economy) and have skewed the translation of the french banker's comment to the point where their own dreams created hallucinations.

The break up of the euro is not at the agenda. Poeple should stop propagating absurd rumors.

In the meantime, the euro is finaly getting cheaper. European exports have long suffered from an overpriced euro.
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#23
The euro is a net benefit to Europe I would think. Wonder if it will replace the dollar as the global reserve currency?

I think maybe the Chinese remnimbi will someday.
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#24
It seems that Merkel is not in a rush toward poorer Germany.

FT update -- blame game begins
Sodomia delenda est

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#25
mv Wrote:It seems that Merkel is not in a rush toward poorer Germany.

FT update -- blame game begins

Quote:Mr Papandreou blamed the European Commission for failing to crack down on the previous conservative government’s “criminal record” in falsifying statistics. “This has undermined the responsibility of the European institutions with international markets,” he said.

I love this typical Leftest excuse for,.....for,......for everything. he and Obama should get together and study each other's notes.

Is it 'violen' time yet? :-({|=
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#26
Yes, this was funny.....

What is more important is that we are now seeing badmouthing between the Greeks and the EU institutions -- I think this is the first of its kind in the EU.

And another observation: it is beginning to look that Stratfor was wrong about Germans rushing to help... Even if Stratfor turns out right at the end, I think I see a general problem with them: they are modeling their predictions from a rational world that believes in the same geopolitics as they do. In this Stratforian simplified world, dominating Europe is the overwhelming goal of the Germans.... but in reality, their internal economic issues put strong breaks on any giveaways, no matter how strategically tasty.
Same problem with their predictions of a deal between Iran and the US.... in 2003-2008 Stratfor was adamant that such a deal will take place ... soon ... because it makes geopolitical sense.
I suspect that their analysis of the US is now inherently faulty too.. they try to explain O'bama in terms of geopolitics, whereas the appropriate discipline is psychiatry.
Sodomia delenda est

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#27
Stingy Euros?

Germany growls as Greece balks at immolation

Quote:The EU has issued a political pledge to rescue Greece – and by precedent, all Club Med – without first securing a mandate from the parliaments of creditor nations.

Holland's Tweede Kamer has passed a motion backed by all parties prohibiting the use of Dutch taxpayer money to bail out Greece, either through bilateral aid or EU bodies. "Not one cent for Greece," was the headline in Trouw. The right-wing PVV proposed "chucking Greece out of EU altogether".

Germany's Bundestag has drafted an opinion deeming aid to Greece illegal. State bodies may not purchase the debt of another state, in whatever guise.
.....
German Chancellor Angela Merkel did not look happy as reporters reminded her of the Bundestag's injunction when she announced that Greece would be saved from the wolves.

.....

Europe's leaders still refuse to face the awful truth: that monetary union is unworkable as constructed.

Are they actually going to sell the Geeks down the river? LMAO...
Sodomia delenda est

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#28
Whatever happens, it will indeed be interesting.

I like Prichard's description of the "original sin" when talking about monetary unions. Wink1
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#29
It may get interesting tomorrow.

Germany says No.

This kind of announcement may cause a run on Greek debt.
Sodomia delenda est

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#30
mv Wrote:It may get interesting tomorrow.

Germany says No.

This kind of announcement may cause a run on Greek debt.

Quote:Germany rejects the idea of setting up a special fund to bail out eurozone countries, like Greece, that run into fiscal trouble because budgetary problems must be solved at the root, the Finance Ministry said Monday.

Clone a dozen Margaret Thatchers, pass them around to the EU countries, place her in charge, and you will quickly have your problem(S) solved.
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#31
I must say I realy enjoy reading (for entertainment) these euroskeptic britons.
You don't find so much and not so absurd non-sens in the US press.
Just a few quotes:

Ambrose Evans-Pritchard Wrote:The last two weeks have cruelly exposed the Original Sin of monetary union: that EMU was launched without an EU treasury
[Sure, how unambitious of the EU not to call their central bank "The Treasury".]
...
or debt union.
[- LOL - S2]
...
The US Federal Reserve averted a mortgage bloodbath by purchasing $1.5 trillion of housing debt. Who will do this for the Greek state, or for Italy?
[Geeeez...! Shock ]

...
Europe's leaders still refuse to face the awful truth: that monetary union is unworkable as constructed.
[Huh? Since when? 10 years with the euro, and we had to wait non-euro based crisis in UK and Iceland to read that. LOL]

....That different labour markets, different sensitivities to interest rates, different economic structures, have caused the gap between North and South to grow ever wider.
[The last sentence may not sound as funny as the others, but is soooo contrary to reality!
If one thing happened it's the reduced gap between the north and south.]
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#32
Debt Union
I love this one...
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#33
I think the media is blowing this out of proportion. I believe this was all more planned and controlled than we are supposed to think.

Germany will eventually help out but it is in their interests to lower the Euro a little. Plus currently Gold is still strong while the dollar falls meaning any gold now gives you greater purchasing power in Europe. Add in the Goldman Sachs entered a $1 billion swap with the greeks and I think in the end we will see at least one more financial institution fall, greater EU control of the PIGS, a lower Euro and Goldman will end up making a billion dollars profit off of derivatives with the PIGS (they already admit to 300 million off of the Greeks).
"And down through the centuries the robes have never failed to keep the public at a respectful distance, inspire a decent awe for the professions, and impart an air of solemnity and mystery that has been as good as money in the bank. The four faculties of theology, philosophy, medicine, and law have been the perennial seedbeds, not only of professional wisdom, but of the quackery and venality so generously exposed to public view by Plato, Rabelais, Molière, Swift, Gibbon, A. E. Housman, H. L. Mencken, and others. What took place in the Greco-Roman as in the Christian world was that fatal shift from leadership to management that marks the decline and fall of civilizations." - taken from a speech by Hugh Nibley
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#34
Oh yes, Goldman....

Greece Paid Goldman $300 Million To Help It Hide Its Ballooning Debts :lol:

about to be blacklisted and possibly banned in Europe. :?: 8)
Sodomia delenda est

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#35
To be honest, european economists see almost with relief the relative devaluation of the euro.
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#36
NYT -- not a bad analysis, considering the trashy source Wink1

Quote:....
European leaders want to extract guarantees from the Greeks to put their finances in order before offering any kind of rescue, but their reticence also stems from the fact that any price tag will have to be defended at home.

Here in Germany, opinion surveys show that two-thirds of the people oppose financial assistance for Greece. More ominously, a survey released Sunday by the newspaper Bild showed that a slight majority of Germans, 53 percent, said they favored expelling Greece from the euro group entirely if its mountain of debt threatened the stability of the currency union.

“Every country has its own debts,” said Kristin Lautenschläger, 70, a retiree in Berlin who said she opposed spending German money to save Greece. “Germany is no longer such a rich country anymore, and has its own problems to deal with before it can take care of Greece’s.”
....

and then it goes into the typical lunacy:

Quote:...The crisis could not have come at a worse moment for Chancellor Angela Merkel. At the outset of the financial crisis, Mrs. Merkel confidently called it an American problem, and resisted as much as possible calls from across the Atlantic for even more government spending to kick-start economic growth.

Now with the American economy in the midst of a more robust, if still fragile, recovery, the Germany economy has stalled, with no growth in the fourth quarter, according to an announcement Friday by the government statistics office....

Hello? Germany may or may not bail out Greece, US may or may not need Chinese bailout, after a Greek-style spending spree...

Idiots.
Sodomia delenda est

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#37
mv Wrote:and then it goes into the typical lunacy:

Quote:...The crisis could not have come at a worse moment for Chancellor Angela Merkel. At the outset of the financial crisis, Mrs. Merkel confidently called it an American problem, and resisted as much as possible calls from across the Atlantic for even more government spending to kick-start economic growth.

Now with the American economy in the midst of a more robust, if still fragile, recovery, the Germany economy has stalled, with no growth in the fourth quarter, according to an announcement Friday by the government statistics office....

Hello? Germany may or may not bail out Greece, US may or may not need Chinese bailout, after a Greek-style spending spree...

Idiots.

These people are so into Collectivist ideology, and wedded to Keynesian Bullshit, that they are totally unable to think clearly. Just as the basic education system is in need of complete overhaul, so to is the science of economics. Until the Keynesian Heresy is exorcised from the field, there is little to no hope of cleansing the system.

the utter vacuousness of their thinking is exemplified on a daily basis, when they would not even think of doing such idiocy to their own personal life, yet think it needs to be done on a grand scale. Perhaps they should try practicing what they preach, so we can finally foreclose on them.
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#38
[Image: mrz021210dAPR20100212020233.jpg]
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#39
It definetly costs less to reduce Greek public spendings, than bailing it out.
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#40
Look at this,has the USA gone too far too far on creating new debt?

HERE
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