Euro Area

**Furunculus** · 05-31-2012, 15:48

a reason for ireland to vote "no":
http://www.davidmcwilliams.ie/2012/0...e-things-worse

**gaelic cowboy** · 05-31-2012, 16:13

Originally Posted by Furunculus

a reason for ireland to vote "no":
http://www.davidmcwilliams.ie/2012/0...e-things-worse

As it is I think the government will scrape by in the vote but it will barely do so.

**Furunculus** · 05-31-2012, 16:31

does look that way.

**Fragony** · 05-31-2012, 17:11

Originally Posted by Furunculus

a reason for ireland to vote "no":
http://www.davidmcwilliams.ie/2012/0...e-things-worse

Tne Irish will be the receivers. Here we supposed to absolutely adore giving away 40.000.000.000 to the EU, and they haven't even mentioned the worst part, that these 40.000.000.000 are just a pledge to loan 260.000.000.000 more

**gaelic cowboy** · 05-31-2012, 17:25

Originally Posted by Fragony

Tne Irish will be the receivers. Here we supposed to absolutely adore giving away 40.000.000.000 to the EU, and they haven't even mentioned the worst part, that these 40.000.000.000 are just a pledge to loan 260.000.000.000 more

Well dont let them do it then Frag we must pray Ireland rejects the treaty so it is impossible for the ESM to lend to Ireland next year.

I have said a hundred times now that merely transfering these debts to soverigns is not working.

Time for a new solution.

**Fragony** · 05-31-2012, 17:34

Originally Posted by gaelic cowboy

Well dont let them do it then Frag we must pray Ireland rejects the treaty so it is impossible for the ESM to lend to Ireland next year.

I have said a hundred times now that merely transfering these debts to soverigns is not working.

Time for a new solution.

First out, tnen forward. Keep the euro as a currency allongside our own, perfectly possible no? Let the euro fall and things will recover in th south, and here we won't even notice it

**Sarmatian** · 05-31-2012, 18:10

Originally Posted by Fragony

Let the euro fall and things will recover in th south

And here is the core of all mistakes. No, they won't. They'll become worse.

Euro's not the cause of the crisis, dismantling it is not the solution, especially not for the countries like Greece.

**Fragony** · 05-31-2012, 18:30

Originally Posted by Sarmatian

And here is the core of all mistakes. No, they won't. They'll become worse.

Euro's not the cause of the crisis, dismantling it is not the solution, especially not for the countries like Greece.

If we have our own currency then why not, we just keep the euro to pay for cocktails in the south.

**Sarmatian** · 05-31-2012, 18:47

Originally Posted by Fragony

If we have our own currency then why not, we just keep the euro to pay for cocktails in the south.

Because the Greek debt isn't in drachmas, it's in euros. They have to pay it back in euros. They can't print drachmas to pay it.

Their import is bigger than their export, tourism included, which means constant inflation. Equilibrium will be reached when they stop importing more than they export, which means lower living standards in the end.

They've been living above their means for a looong time. Tightening the belt is what awaits them, euro or drachma.

**gaelic cowboy** · 06-01-2012, 13:23

Originally Posted by Fragony

If we have our own currency then why not, we just keep the euro to pay for cocktails in the south.

They told us currency differentials in value and interest rates were a bad thing between European countries.

now we know thats total lies and in fact outright idiocy.

**gaelic cowboy** · 06-01-2012, 13:19

Originally Posted by Sarmatian

And here is the core of all mistakes. No, they won't. They'll become worse.

Euro's not the cause of the crisis, dismantling it is not the solution, especially not for the countries like Greece.

Yes it is the cause of the crisis sure Greece is only a piddliing little bit of the entire eurozone and yet it is causing pure panic.

The reason is both electorates nad these "Market People" are only waking up to the fact the entire structure of the currency is defective.

As long as the present structure is maintained then Bailouts will not work as they presently are supposed to work.