Euro Area

[Greyblades]

Oh I dont know, sacrificing apendages is a rather... effective way of paying debts. But then again I've been watching alot of gangster movies.

[Brenus]

“Except the problem is sacrifice does not stop the Debt Monster and they know it.”

No.
There are others solutions.

Let say the Governments wouldn’t back up the banks with taxes-payers money, take the political action to cancelled the obligation to Countries to borrow money to the private Sector (because without our money the banksters wouldn’t be able to lend it any way) and allow Countries to borrow money at the same rate than the banks to the European Central Bank (near 0%) instead to go under the yoke of the so-called independent judgment of the same banksters who ruined all economies…

I still don’t get why the banks borrow money at 0 % and lend it at a minimum of 14.5% to customers…

The banks collapsed, the money saved in not helping them could have be used as safety net for the usual customers, or/and in order to preserve the economies, could have been use in exempting the workers for paying taxes for one year.
Workers would have either pay their debts (reinforcing the surviving banks) or use it for their need, keeping the market alive and paying indirect taxes…
Then of course, the people who lost money would suit the banksters as they lied to them, claiming huge bonuses under at least false pretences but I would say frauds.
Banksters should have been trial, put in jail, and as you can’t keep the money illegally earned, the bonuses would returned to the banks to help them to pay back their debts.

To deny a debt is possible. That was done before. After the Revolution, the Soviets decided that the money borrowed by the Tsar was not USSR debts as it was a different country…
Well, harsh, but it worked. No more debts…

The problem of course is that would ruin some of the governments’ friends, families and relatives…

In term of Euro, I don’t think it will collapse. The alternative is o put back the national currencies? It took 6 years of preparation to put the Euro (printing, rating etc) on track. So, to go back is not the solution… And I do like the idea that SWIFT doesn’t take money for transfer in doing absolutely nothing….