Euro Area

[Fragony]

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]

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]

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]

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]

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]

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.

[Fragony]

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.

Kthbye these debts, we take our loss, we move on.

[gaelic cowboy]

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.

The you just have to draw a line under a bad investment in Greek private or public debt.

If you try to force Greec to attempt to pay these debts back you end up endangering the whole dam thing.

[Philippus Flavius Homovallumus]

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.

Greece may still be stuck paying debt in Euros but it will be able to sell it in Drachmas, that's the point.

Anyway, as Galic said, this isn't just about Greece - it's about the whole structure, Greece is just where the pus is nearest the surface.

[gaelic cowboy]

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.

[Fragony]

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.

You agree with a splitup, i will take your advice over an eurocat's dream of unicorns and rainbows every time.

Time to get serious imho, no matter how nasty it will be for some, we have no obligation whatsoever don't count on me. France lowers the pension age to 60, I say we go for 70 just to get out of the Great Suffocation. It is worth it imho.

[gaelic cowboy]

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.