Point is that the EU is no more 'democratic' than it was when Hitler planned the same thing.
Re: The continuing battle against the inevitable Euro area default
Point is that the EU is no more 'democratic' than it was when Hitler planned the same thing.
Re: The continuing battle against the inevitable Euro area default
Not actually true.Originally Posted by SoFarSoGood
But never mind.
"If it wears trousers generally I don't pay attention."
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Re: The continuing battle against the inevitable Euro area default
Show me the democracy of the troika.
Re: The continuing battle against the inevitable Euro area default
Greece play's the Godwin...
Obviously, they are now trying to determine if Germany really doesn't owe them a pile of money for having been evil Nazis...
Questionable timing, one might think... And I'm not at all sure that is the right card to play to a Germany with a wallet already open... Stupid stupid stupid. Only have swedish sources, will investigate later for english ones.
Re: The continuing battle against the inevitable Euro area default
Probably less stupidity and more desperation, to say greece is in the gutter is being optomistic at this point.
Being better than the worst does not inherently make you good. But being better than the rest lets you brag.
Spoiler Alert, click show to read:
Re: The continuing battle against the inevitable Euro area default
ECB agrees to unlimited government bond purchases
Let the raiding of the taxpayers commence!The European Central Bank on Thursday moved forcefully to ensure the survival of the euro, agreeing to unlimited purchases of government bonds and a series of other steps meant to restore the world’s confidence in the struggling currency union.
With fresh evidence that a regional recession was undermining even Germany’s industrial might, ECB President Mario Draghi said government bond and other markets had become so dysfunctional that the central bank had to create “a fully effective backstop” for its 17 members.
The broad aims of the new bond-buying program were couched carefully in the language of the bank’s legal mandate to control inflation and not directly finance the region’s governments. But the aim was clear: After nearly three years of a crisis in which the threat of a euro breakup fueled a self-fulfilling slide, Draghi said the bank needed to break the region’s corrosive cycle.
“We want this to be perceived as a fully effective backstop,” Draghi said. “We are in a situation where a large part of the euro area is in a bad equilibrium, where you have self-fulfilling expectations that feed upon themselves and generate very adverse scenarios. There is a case for intervening to break these expectations.”
The new program answers what has been a long-standing call by many from within and outside the euro zone — including the Obama administration and the International Monetary Fund — for the ECB to be more aggressive in trying to resolve the euro zone’s crisis. The ability of the currency union’s governments to act has often been constrained by national politics, the difficulties of coaxing agreement from 17 sets of leaders and their parliaments, and the reluctance of wealthier countries to use their tax dollars to help support others.
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If I werent playing games Id be killing small animals at a higher rate than I am now - SFTS
Si je n'étais pas jouer à des jeux que je serais mort de petits animaux à un taux plus élevé que je suis maintenant - Louis VI The Fat
"Why do you hate the extremely limited Spartan version of freedom?" - Lemur
Re: The continuing battle against the inevitable Euro area default
Actually it's the other way round this eases taxpayers in countries where bond yields have risen very high.
They slew him with poison afaid to meet him with the steel
a gallant son of eireann was Owen Roe o'Neill.
Internet is a bad place for info Gaelic Cowboy
Re: The continuing battle against the inevitable Euro area default
Those taxpayers don't have much left to give. The ones in Germany, Holland, etc. are now up for their fleecing.
The .Org's MTW Reference Guide Wiki - now taking comments, corrections, suggestions, and submissions
If I werent playing games Id be killing small animals at a higher rate than I am now - SFTS
Si je n'étais pas jouer à des jeux que je serais mort de petits animaux à un taux plus élevé que je suis maintenant - Louis VI The Fat
"Why do you hate the extremely limited Spartan version of freedom?" - Lemur
Re: The continuing battle against the inevitable Euro area default
Buy gold or Swiss fancs. Euro devaluation on it's way and probably Germany and Finland out.
I laughed when he said “Action in the primary market would be a violation, not secondary market”... Lisbon Treaty in flames.
Last edited by SoFarSoGood; 09-06-2012 at 16:55.
Re: The continuing battle against the inevitable Euro area default
to be honest Gold is that last thing you want to buy now, the stuff is clearly in a bubble.
A currency devaluation pretty unlikely in a monetary system as big as the Euro, far more likely it floats up or down depending on who is buying or selling.
Also the Lisbon Treaty doesn't really have much to do with ECB governance.
Last edited by gaelic cowboy; 09-06-2012 at 17:05.
They slew him with poison afaid to meet him with the steel
a gallant son of eireann was Owen Roe o'Neill.
Internet is a bad place for info Gaelic Cowboy
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