German Finance Minister Wolfgang Schaeuble ruled out Germany contributing any more money to the beefed-up EU bail-out fund than the 211 billion euros approved by parliament, in an interview published Saturday...
He also suggested the European Stability Mechanism, which is due to replace the EFSF by 2013 at the latest, would be smaller....
A majority of Germans (58%) consider it was a mistake to boost the EFSF, according to a poll to be published Sunday in the weekly Bild am Sonntag...
going to be interesting to see what form of the Euro survives all this.
Could be the end of the EU.
The US falling apart due to right vs left civil war is more likely.
Yes Pete. Of course.
You know what else is just as likely, me having anal sex with Natalie Portman while on the Hulk at Universal Studios.
Yes Pete. Of course.
You know what else is just as likely, me having anal sex with Natalie Portman while on the Hulk at Universal Studios.
Yes Pete. Of course.
You know what else is just as likely, me having anal sex with Natalie Portman while on the Hulk at Universal Studios.
truth. let your yes be yes and your no be no.
as for the EU, it will not survive in it's current form. there simply isn't a way to bail out a structural defect - someone somewhere will have to go.
I really hope the EU will survive, ideally in a better form than it used to be. Wouldn't be a bad side effect if this crisis could result in a better EU than the one we used to have.
The possibility of the EU falling apart, on the other side, worries me. Despite all its flaws, it was the best historical answer we have to centuries of bloody wars and division.
I have thought that the EU had benefitted Europe. As an outside observer, it appears the heavily indebted countries are essentially demanding more investment from their partners than is justifiable given their own efforts and contributions. Is austerity the answer or is the problem caused by the structure? I am reading that Greece has too many gov't giveaways. Maybe the same for the other PIGS. Is that true?
truth. let your yes be yes and your no be no.
as for the EU, it will not survive in it's current form. there simply isn't a way to bail out a structural defect - someone somewhere will have to go.
I have to admit economics is not my specialty and it's hard for me to estimate all the connections in this economic mess. But from what I've gathered, yes, I believe that's more or less the case: Greece and other "PIIGS" spent like drunken sailors. That was still more or less okay, until the financial crisis hit in 2008/09. This pushed them over the edge and brought Greece into a situation where they could no longer borrow cheap money and their household exploded.
My country was one of the few who strongly objected to it. Unfortunately they lost Germany's support.an agreement to not go over 3% which everyone broke.
Again the EU will not break up.
My country was one of the few who strongly objected to it. Unfortunately they lost Germany's support.
Not if we stick to the treaty and improve our regulations and regulators.
Иосиф Сталин;1059842863 said:The European Union is far stronger than the crappy USA and it will still be around after your pathetic currency finally collapses. And it will get even stronger once Russia is allowed to preside over it.
truth. let your yes be yes and your no be no.
as for the EU, it will not survive in it's current form. there simply isn't a way to bail out a structural defect - someone somewhere will have to go.
And this is your problem... the EU has NOTHING TO DO WITH DEFICITS... countries within the EU have run deficits for decades (as well as surpluses) and other than an agreement to not go over 3% which everyone broke, then the EU has no power or interest in how a country runs its business.
The problem now is uniquely to the Eurozone. Countries within the EU have had horrible deficits and it has not had any impact on their membership. The lists include the UK, Poland, Hungary, Austria, France, Italy, Denmark, and so on and so on. Now the problem comes with the Eurozone since they have the same currency and not a fully integrated economic system and yes here you could see countries leave the Euro so they can piss in their pants again.. aka devalue a new currency.
But this comes with consequences for everyone and is very expensive and frankly can be much more expensive than fixing their structural problems. Spain, Italy and others are doing so.. the problem is Greece where the population have had enough of big business, bankers and the rich ****ing up their economy for profit and letting the rest of the population pay for it
I find this development interesting on one side, but disturbing on the other. And I am disappointed by my (German) politicians. Merkel and her conservative CDU flip-flopped all the time, it was never clear whether she wants to appease the euroskeptics who don't want to spend more money, or if she takes a clear stance in favor of a European solution. That Merkel's small coalition junior partner, the libertarian FDP, is at the brink of collapse, didn't help either.
If anything, I would like to see the German government to take a clear stance, either a clear "no" to European solutions, or a clear "yes". A strict, consistent course in either way would be better, than talking a middle way, flip flopping all the time, and claiming after each new step that this was the last step, although everybody knows this isn't the case.
Agreed. Those countries that have run their business properly cannot be continuosly making bad loans to the free-loading members. Besides whatever cost-analysis one makes, it is just plain politically unviable. Liberal nanny-state fail. We always said it would fail. And now it has.
Jeez, look at the coming tsunami that is going to throw Obama so far out of office that we may never see him again. Same crap.
which does not alter the fact that Greece's debt is inherent to it's populace, not a product of poor governance (though that certainly has made matters much much worse).
you can't bail out Greece - and she's hardly the only one in her situation; merely the first. which is why I stated that at some point either the strong nations will leave the EU, or they will kick the weak ones out.
:lol: the problem is definitely Greece, but it's where the Greeks decided to vote themselves lavish entitlements, insane leisure, and then not have any kids to pay for it all.
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