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Thread: Economic crisis: France: 1 - Rest of the world: 0

  1. #31
    TexMec Senior Member Louis VI the Fat's Avatar
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    Default Re : Re: Economic crisis: France: 1 - Rest of the world: 0

    Quote Originally Posted by Furunculu5 View Post
    it may just take longer for things to get ugly in europe, with no way to fix it:
    http://blogs.telegraph.co.uk/angela_...ke_a_tea_party
    Bah. The Telegraph is at it again. What a rag that paper has turned into. Desperately anti-EU. To sum up the article: 'Europe (Telegraph parlance, i.e. Europe without the UK) does not have the financial crisis that the ultra-liberal model created in the UK. However, if Europe would get a crisis like this, even though it appears they're not, then they would be less likely to withstand it. Which proves the superiority of the UK model.'

    Or: 'even though 150000 Bangladeshi drowned because their infrastructure is ill-equipped to deal with floods, if Australia was flooded, they would have even more casualties since the Australia infrastructure is even less equipped to deal with months of heavy rainfall.
    This proves the superiority of the Bangladeshi model.'


    ~~~


    Meanwhile on the continent. The financial crisis is trickling down. Supersarko is at it though, trying to get the EU in line.

    PARIS (AFP) - President Nicolas Sarkozy on Monday battled to contain fallout from the global financial crisis, moving ahead with plans for a world summit and calling a meeting of French banking and insurance chiefs.


    France will host a meeting of European officials to prepare a summit "in the coming weeks to establish the basis of a new international financial system," said Sarkozy, whose country holds the presidency of the European Union.

    Officials from Britain, France, Germany and Italy -- the EU members of the G8 -- will meet in Paris in the coming days to lay the groundwork, he said on the sidelines of an EU-India summit in the southern city of Marseille. On Tuesday, the president is to meet at the Elysee presidential palace with banking and insurance company chiefs to take a close look at the health of French banks and review the credit level of French households and businesses.

    The announcements came as the Franco-Belgian bank Dexia announced an emergency board meeting after liquidity concerns sent its shares into freefall. Dexia's shares closed Monday down 30 percent on the Paris exchange, at seven euros worth less than a third of their value this time last year.

    Belgium's federal government announced late Monday that it had tentatively agreed, along with its three main regions and shareholders, to help prop up the embattled bank -- less than 24 hours after stepping in to rescue Belgian-Netherlands banking and insurance giant Fortis. "During consultations between the federal government and the three regional governments (Wallonia, Flanders and Brussels) this afternoon, they confirmed their in-principle agreement to take part in a joint effort to boost Dexia group's funds," a statement said. The statement, distributed by the office of Prime Minister Yves Leterme, made no mention of financial details but Belgian media said the support could amount to seven billion euros (10 billion dollars). On Sunday, the Benelux countries stepped in to partially nationalise Fortis, increasing fears the crisis that has wiped out several US and British banks was spreading across Europe.

    Sarkozy warned in a major address last week that France would not be spared from the turmoil unleashed by the US banking crisis.

    In Paris, the CAC 40 index plunged 5.04 percent to 3,953.48 points Monday in line with other European stock markets.
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  2. #32
    Enlightened Despot Member Vladimir's Avatar
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    Default Re: Economic crisis: France: 1 - Rest of the world: 0

    Wow, a whole 5% huh? Has anyone else noticed that the Dow is up almost 300 points? Anybody?


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  3. #33
    Standing Up For Rationality Senior Member Ronin's Avatar
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    Default Re: Economic crisis: France: 1 - Rest of the world: 0

    didn´t really notice....on other news...the PSI-20 gained 1,87% today
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  4. #34
    The Black Senior Member Papewaio's Avatar
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    Cool Re: Re : Re: Economic crisis: France: 1 - Rest of the world: 0

    Quote Originally Posted by Louis VI the Fat View Post
    Or: 'even though 150000 Bangladeshi drowned because their infrastructure is ill-equipped to deal with floods, if Australia was flooded, they would have even more casualties since the Australia infrastructure is even less equipped to deal with months of heavy rainfall.
    This proves the superiority of the Bangladeshi model.'
    I agree with what you are saying.

    But you picked a bad analogy. Australia is subject to flash floods. That is why in the middle of a flat dry plane you will find buildings on stilts, they are there for the next big flood. You will find tinnies out in the middle of the outback.
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