The European Debt Crisis and the Euro - Page 19

On May 21 2010 21:13 Heimatloser wrote:
dollar and euro both had crisis recently.
us (united states) could deal with it easily - washington tells what to do and itll be done, no matter what.
eu (european union) cannot - their leadership is only show, all countries decide what to do for their own.

i btw. think the german way is the wrong way, and so think 80% of the germans, problem is only germans dont go on the streets. if the same would have been done by france or sweden or whatever country there would be riots.

On May 21 2010 07:04 PaD wrote:

Almost all EU countries pay 18-25% of their salary, its simple math the higher the salary the higher the tax contribution.
The bad thing for Greece is that even when they get out of the crysis they will be in debt for at least 10 years. Protesting is kinda pointless, they NEED a huge loan and if they dont get it it's gg for Greece; average salary will go down, unemployement, lower foreign investments.
They already lost a lot tourists due to the bad image they have atm, I mean when the tourism agencies tells us to stay in the resorts and not wander in the cities you know its not safe.

Total tax on income
-Part of the income from EUR 0 to EUR 17,878: 33.5 % of EUR 17,878 is EUR 5,989
-Part of the income from EUR 17,878 to EUR 32,127: 42 % of EUR 14,249 is EUR 5,984
-Part of the income from EUR 32,127 to EUR 54,776: 42% of EUR 22,649 is EUR 9,512
-Above that: 52 %.

Almost all EU countries pay 18-25% of their salary, its simple math the higher the salary the higher the tax contribution.
The bad thing for Greece is that even when they get out of the crysis they will be in debt for at least 10 years. Protesting is kinda pointless, they NEED a huge loan and if they dont get it it's gg for Greece; average salary will go down, unemployement, lower foreign investments.
They already lost a lot tourists due to the bad image they have atm, I mean when the tourism agencies tells us to stay in the resorts and not wander in the cities you know its not safe.

On May 21 2010 22:48 L0n3W0olf wrote:
There is only one way out for them right now, unless they want embargo (that's how the IMF plays). So protesting is kinda useless, it won't contribute to anything. The only smart thing for them to do would be to sit down and think of how to modernize and bolster their industry and pay off the debt in minimum amount of time, because currently they're waaaay behind EU in terms of overall development.

modernize and bolster their industry and pay off the debt in minimum amount of time

On May 21 2010 21:06 Happy.fairytail wrote:
US banks are fine ... due to recent regulation, our banks were forced to accumulate a pretty sizeable amount of reserve capital. European banks on the other hand... who the heck knows what's on their balance sheets, what's actually good or bad loans.

My feel is that yeah everyone's gonna get whacked as everyone's just running for the doors, but when risk starts coming back into the markets, commodity driven economies like Canada, Australia and South America will outperform; so will emerging economies like India and China. Europe will lag significantly; US will be mediocre.

NEW YORK – The Dow Jones industrials plunged below 10,000 Tuesday after traders dumped stocks on expectations that the world economy will weaken in the coming months.

Still, uncertainty over the impact that Europe's debt problems could have on the rest of the world in the coming months remains the biggest driver of investor pessimism, said Jonathan Corpina, president of Meridian Equity Partners. The largest concern is that painful austerity measures that European governments are being forced to take could lead to a prolonged economic slump in the region and cause another global recession. And investors fear that even those measures won't contain the crisis, Corpina said.

"It seems like the Europeans are playing 'tag, you're it ' — first it was Greece and now it's maybe Spain or Portugal," said Corpina, a New York Stock Exchange floor trader. "We know someone else is next. The problem is that it seems like every plan in place isn't going to satisfy the needs."

In response to the bankers and governments’ global rape, pillaging and plundering of people’s assets and freedoms, we are starting a series of essays that we call “The Liberation Essays” in an attempt to educate the masses about the true nature of the global financial system. We will continue to write our essays until we feel we have achieved our goal of education and eventually liberation from the racketeering firms that call themselves Wall Street and Central Banks.

In honor, courage and liberty,

Solon, Lindbergh, and Don Killimunati

On May 26 2010 23:20 nard wrote:


Source
Might be interesting for those who think its an "EU or greek problem" and everything will be fine again someday.

On May 27 2010 00:11 coltrane wrote:
The actual monetary system is artificially sustented, and it will break eventually, at global level. I hope it does soon, and I work for that everyday.

On May :31 {CC}StealthBlue wrote:
Ugh -.-





Source

On May 27 2010 07:47 Ganondorf wrote:
Our current system is based on paper-money connected to debt.. with an interest rate that makes no sense, because it's just paper money. So it's more fragile and more costly than the old one. We should just go back to what money really means, and stop this nonsense. Or get rid of money altogehter, current technology would allow it.

NEW YORK (AP) -- Stocks are extending their slide after the Labor Department said hiring remains weak and Hungary became the latest European country to report its economy is in crisis.

Meanwhile, a spokesman for Hungary's prime minister described the country's economy as being in a "grave" situation. That is pushing the euro lower.