Re: The continuing battle against the inevitable Euro area default
Which is what I said in the first place.Originally Posted by gaelic cowboy
Seems Mr Draghi disagrees with you about printing money and without being rude I think he has somewhat more say than either of us (which of course may not be a good thing).
It also seems that Germany, now facing a credit downgrade, may force Greece out. As it is they have said that no further installment of the loans will be payed to Greece until September when Greece has a bond renewal due in August.
Re: The continuing battle against the inevitable Euro area default
Long overdue.
"And if the people raise a great howl against my barbarity and cruelty, I will answer that war is war and not popularity seeking. If they want peace, they and their relatives must stop the war." - William Tecumseh Sherman
“The market, like the Lord, helps those who help themselves. But unlike the Lord, the market does not forgive those who know not what they do.” - Warren Buffett
Re: The continuing battle against the inevitable Euro area default
Forget Greece, now it's Spain. And as the Spanish government surprisingly put it, Germany should give them money and shouldn't forget, guess what
Re: The continuing battle against the inevitable Euro area default
To put their towels on the sunbeds before anyone else does.
There are times I wish they’d just ban everything- baccy and beer, burgers and bangers, and all the rest- once and for all. Instead, they creep forward one apparently tiny step at a time. It’s like being executed with a bacon slicer.
“Politics is the art of looking for trouble, finding it whether it exists or not, diagnosing it incorrectly, and applying the wrong remedy.”
To learn who rules over you, simply find out who you are not allowed to criticise.
"The purpose of a university education for Left / Liberals is to attain all the politically correct attitudes towards minorties, and the financial means to live as far away from them as possible."
Re: The continuing battle against the inevitable Euro area default
Well that as well, although they tend do dig their own holes. Your metaphor is better then you think
On a more serious note, godwins from South Europeans and Eurocrats are starting to really annoy me, there are only so many left before the Germans will stop nodding out of politeness and will just give the finger instead. That plumb eastblock workhorse and ex stasi-informer Merkel isn't going to be forever in charge to appease the international-socialism, they (the Germans) have seriously had it being bullied and morally blackmailed by these garlic-slackers. Same goes for us, the europhiles have little popular support to go on, we already said no to all of this.
Last edited by Fragony; 07-29-2012 at 14:01.
Re: The continuing battle against the inevitable Euro area default
You assume Germany does it out of altruism or some euro dream, but the fact is that a lot of debt of those countries are in fact to German banks. If they default, German banks lose a lot of money. Then those banks need to be helped out or they'll go bust.
So, Germany writes off some debt, give additional credits and aid and in the end comes in good shape. In the other case, Germany does nothing and watch Spanish and Greek deficits suddenly become German deficits.
Re: The continuing battle against the inevitable Euro area default
Excellent summation. The spending spree was clearly not sustainable; even Germany does not have the money to keep the balloon fully inflated. The political question is how much deflation and austerity can be imposed w/o someone opting for default? Of course, how much is Germany willing to bet on the answer.
Ja-mata TosaInu
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