• Log InLog In
  • Register
Liquid`
Team Liquid Liquipedia
EST 11:33
CET 17:33
KST 01:33
  • Home
  • Forum
  • Calendar
  • Streams
  • Liquipedia
  • Features
  • Store
  • EPT
  • TL+
  • StarCraft 2
  • Brood War
  • Smash
  • Heroes
  • Counter-Strike
  • Overwatch
  • Liquibet
  • Fantasy StarCraft
  • TLPD
  • StarCraft 2
  • Brood War
  • Blogs
Forum Sidebar
Events/Features
News
Featured News
RSL Season 3 - Playoffs Preview0RSL Season 3 - RO16 Groups C & D Preview0RSL Season 3 - RO16 Groups A & B Preview2TL.net Map Contest #21: Winners12Intel X Team Liquid Seoul event: Showmatches and Meet the Pros10
Community News
RSL Season 3: RO16 results & RO8 bracket13Weekly Cups (Nov 10-16): Reynor, Solar lead Zerg surge1[TLMC] Fall/Winter 2025 Ladder Map Rotation14Weekly Cups (Nov 3-9): Clem Conquers in Canada4SC: Evo Complete - Ranked Ladder OPEN ALPHA12
StarCraft 2
General
RSL Season 3: RO16 results & RO8 bracket SC: Evo Complete - Ranked Ladder OPEN ALPHA RSL Season 3 - Playoffs Preview Mech is the composition that needs teleportation t GM / Master map hacker and general hacking and cheating thread
Tourneys
RSL Revival: Season 3 $5,000+ WardiTV 2025 Championship StarCraft Evolution League (SC Evo Biweekly) Constellation Cup - Main Event - Stellar Fest 2025 RSL Offline Finals Dates + Ticket Sales!
Strategy
Custom Maps
Map Editor closed ?
External Content
Mutation # 500 Fright night Mutation # 499 Chilling Adaptation Mutation # 498 Wheel of Misfortune|Cradle of Death Mutation # 497 Battle Haredened
Brood War
General
A cwal.gg Extension - Easily keep track of anyone Data analysis on 70 million replays soO on: FanTaSy's Potential Return to StarCraft [ASL20] Ask the mapmakers — Drop your questions FlaSh on: Biggest Problem With SnOw's Playstyle
Tourneys
[Megathread] Daily Proleagues Small VOD Thread 2.0 [BSL21] GosuLeague T1 Ro16 - Tue & Thu 22:00 CET [BSL21] RO16 Tie Breaker - Group B - Sun 21:00 CET
Strategy
Game Theory for Starcraft Current Meta How to stay on top of macro? PvZ map balance
Other Games
General Games
Clair Obscur - Expedition 33 Stormgate/Frost Giant Megathread EVE Corporation Path of Exile [Game] Osu!
Dota 2
Official 'what is Dota anymore' discussion
League of Legends
Heroes of the Storm
Simple Questions, Simple Answers Heroes of the Storm 2.0
Hearthstone
Deck construction bug Heroes of StarCraft mini-set
TL Mafia
Mafia Game Mode Feedback/Ideas
Community
General
US Politics Mega-thread Russo-Ukrainian War Thread The Games Industry And ATVI Things Aren’t Peaceful in Palestine About SC2SEA.COM
Fan Clubs
White-Ra Fan Club The herO Fan Club!
Media & Entertainment
[Manga] One Piece Movie Discussion! Anime Discussion Thread Korean Music Discussion
Sports
2024 - 2026 Football Thread Formula 1 Discussion NBA General Discussion MLB/Baseball 2023 TeamLiquid Health and Fitness Initiative For 2023
World Cup 2022
Tech Support
TL Community
The Automated Ban List
Blogs
The Health Impact of Joining…
TrAiDoS
Dyadica Evangelium — Chapt…
Hildegard
Saturation point
Uldridge
DnB/metal remix FFO Mick Go…
ImbaTosS
Customize Sidebar...

Website Feedback

Closed Threads



Active: 1941 users

The European Debt Crisis and the Euro - Page 41

Forum Index > General Forum
Post a Reply
Prev 1 39 40 41 42 43 158 Next
Velr
Profile Blog Joined July 2008
Switzerland10811 Posts
July 13 2011 23:57 GMT
#801
Funny, a Greek guy that emigrated to switzerland had an article in the local newspaper saying that the greek people and everything in greek is to blame.
Reyis
Profile Joined August 2009
Pitcairn287 Posts
July 14 2011 00:10 GMT
#802
On July 14 2011 08:57 Velr wrote:
Funny, a Greek guy that emigrated to switzerland had an article in the local newspaper saying that the greek people and everything in greek is to blame.



well, he is right tbh.
기적의 혁명가 김택용 화이팅~!!
brokor
Profile Joined June 2011
Greece235 Posts
July 14 2011 00:22 GMT
#803
I am not telling you to disregard the above poster, it's good if more opinions are expressed.

However, not everyone in greece thinks this way.
of course, not all greeks are to blame for the crisis. state officials have always been corrupt, but people take advantage of them every step of the way if their son needs a job at the government or their father in law dies and they still want his pension. Laws are badly written with countless loopholes that propably all greeks take advantage of .
I am 21, and i pay 13k euros in taxes out of a 28k earnings. how can someone build a business or start a family like that? i surely didnt steal anyones money personally or mislead anyone into giving me money.
there ar elots of government employees who receive huge wages for nothing. there are lots of government employes who hold more than one position and thus earning numerous wages at once. also a lot of them get once-given amounts of 300k euros for getting retired on top of a ludicrous pensions. taking into account that 18% of greek work force works for the government, it is accepted when people say that the government employees are paid to vote the person that gave them their spot. these people get unlawfully rich and pay miniscule taxes.
also there are ties between the bigger industries and businessmen and the main political parties, so they can evade taxes all they want. the political parties themselves have gained millions of euros from such deals, which even show up on their yearly earnings.

the situation is as dire as it gets. most of the austerity measures are ridiculous and dont face the problem or the roots of it. greece will never be able to pay back the loans and will default. this is a certainty amongst economists.
On the other hand, rioting and violence is never the answer. i live in the center of athens and i know people who come from the providence or the suburbs to throw some marble and some molotovs. it is not their city, they have no sense of society bonds. by rioting all u do is force more response from the government, with unexpected results. others rly likked rioting in 2008 (i protested aswell back then, didnt break anything though) and just never stopped. We have a reason to complain. send a letter to your representator in the parliament and he can set the subject to the government. by rioting and sending away tourists and hampering the economy of the historic center of the city we will never achieve anything but burden the city with 2 more million of expenses for cleaning up the mess. I stay on my couch, read, get educated, get informed, thus no government or extremist radicals can use me for their own ends. all you can achieve by taking part in such a riot is kill some more people like last year. and then their blood is on your hands :/



More on the corruption/post-apocalyptic situation part:
(i consider my family to be as lawful and integral and solidary as it gets but we definetely still look over laws to find loopholes to take advantage of when building a house or applying to university. and when the IRS comes around we have to bribe the tax-man in order not to book us on the 400k violations that the law-writers have thought off just to be able to fine you no mater what. maybe we have to go with the flow and perpetuate the problem, maybe we are just as corrupt as the rest of them, who cna judge?)

sry for my english it is late and i dont like writing on the pc anyway
Winter is Coming
accela
Profile Joined February 2010
Greece314 Posts
July 14 2011 00:27 GMT
#804
On July 14 2011 08:57 Velr wrote:
Funny, a Greek guy that emigrated to switzerland had an article in the local newspaper saying that the greek people and everything in greek is to blame.


well if a greek guy said that then you better believe him, he knows best

seriously now you have to understand that politicians are always working for their reelection so they and their media puppets are going to say any kind of BS.

I would expect you people to trust more those thousands who demonstrate.
brokor
Profile Joined June 2011
Greece235 Posts
July 14 2011 00:39 GMT
#805
On July 14 2011 09:27 accela wrote:
Show nested quote +
On July 14 2011 08:57 Velr wrote:
Funny, a Greek guy that emigrated to switzerland had an article in the local newspaper saying that the greek people and everything in greek is to blame.


well if a greek guy said that then you better believe him, he knows best

seriously now you have to understand that politicians are always working for their reelection so they and their media puppets are going to say any kind of BS.

I would expect you people to trust more those thousands who demonstrate.

demonstrate=/= rioting.
how cna u trust anyone who holds a club or throws a stone?

and anyway, thousands of people commit genocides in africa, i will never trust them though.
the argument u made is moot. pm me in greek if u think u can make smth out of it i cant see.
just because someone is using these young people to achieve their own goals doesnt mean i can trust them. its those same thousands that burned 3 people to death during a demonstration last year just because they worked for a corporate bank.

it was "thousands" that commited the wrost crimes in history of man. noone ever acted without a following. from the germans to the red khmer it was always "thousands". maybe you say it is our turn? this is a trend right now actually. all around the media, people talk of katharsis. the germans seeked katharsis during the interwar period aswell.

can't live in greece.. should have gone to university abroad. what am i doing here with these clueless people.
Winter is Coming
accela
Profile Joined February 2010
Greece314 Posts
July 14 2011 01:13 GMT
#806
On July 14 2011 09:39 brokor wrote:
Show nested quote +
On July 14 2011 09:27 accela wrote:
On July 14 2011 08:57 Velr wrote:
Funny, a Greek guy that emigrated to switzerland had an article in the local newspaper saying that the greek people and everything in greek is to blame.


well if a greek guy said that then you better believe him, he knows best

seriously now you have to understand that politicians are always working for their reelection so they and their media puppets are going to say any kind of BS.

I would expect you people to trust more those thousands who demonstrate.

demonstrate=/= rioting.
how cna u trust anyone who holds a club or throws a stone?

and anyway, thousands of people commit genocides in africa, i will never trust them though.
the argument u made is moot. pm me in greek if u think u can make smth out of it i cant see.
just because someone is using these young people to achieve their own goals doesnt mean i can trust them. its those same thousands that burned 3 people to death during a demonstration last year just because they worked for a corporate bank.

it was "thousands" that commited the wrost crimes in history of man. noone ever acted without a following. from the germans to the red khmer it was always "thousands". maybe you say it is our turn? this is a trend right now actually. all around the media, people talk of katharsis. the germans seeked katharsis during the interwar period aswell.

can't live in greece.. should have gone to university abroad. what am i doing here with these clueless people.


brokor you equalize thousands of demonstrators with those few who did the damages.

Let me remind you that the cases your mentioned had to do with brainwashed people who follow their leader and doing nothing else but support the official propaganda.

But how exactly that is true for greek demonstrators? I mean the government, the main opposition party and 2 smaller parties (the big majority of the parliament) are actually in favor of the austerity measures and neoliberal politics.. Also all major greek media actively support them.

So obviously we don't have to do with any kind of thought control here.
DeepElemBlues
Profile Blog Joined January 2011
United States5079 Posts
July 14 2011 01:26 GMT
#807
Yes the Euro is going down, in the slowest-motion crash in history.

Sooner or later one country is going to want to go back to its old currency. I think the Euro can't afford one single country leaving it; it would be a domino effect.

Those who believe in the Euro will fight tooth and nail to keep Greece, or Spain, or Italy, or Ireland, or Germany from leaving the Euro, but one day one of them will, and the Euro will go down down down. Might be five years, might be ten, might be six months who knows, but it will happen.
no place i'd rather be than the satellite of love
0mar
Profile Joined February 2010
United States567 Posts
July 14 2011 01:51 GMT
#808
Europe is so fucked and by extension, the world. Italy is the latest country to emerge as having massive debt with little hope of paying it off. Italy dwarfs the rest of the embattled countries, except for Spain. The entire Eurozone is about to collapse like a house of cards and all the hoohawing about who is responsible and who isn't isn't going to matter.
brokor
Profile Joined June 2011
Greece235 Posts
July 14 2011 02:56 GMT
#809
On July 14 2011 10:13 accela wrote:
Show nested quote +
On July 14 2011 09:39 brokor wrote:
On July 14 2011 09:27 accela wrote:
On July 14 2011 08:57 Velr wrote:
Funny, a Greek guy that emigrated to switzerland had an article in the local newspaper saying that the greek people and everything in greek is to blame.


well if a greek guy said that then you better believe him, he knows best

seriously now you have to understand that politicians are always working for their reelection so they and their media puppets are going to say any kind of BS.

I would expect you people to trust more those thousands who demonstrate.

demonstrate=/= rioting.
how cna u trust anyone who holds a club or throws a stone?

and anyway, thousands of people commit genocides in africa, i will never trust them though.
the argument u made is moot. pm me in greek if u think u can make smth out of it i cant see.
just because someone is using these young people to achieve their own goals doesnt mean i can trust them. its those same thousands that burned 3 people to death during a demonstration last year just because they worked for a corporate bank.

it was "thousands" that commited the wrost crimes in history of man. noone ever acted without a following. from the germans to the red khmer it was always "thousands". maybe you say it is our turn? this is a trend right now actually. all around the media, people talk of katharsis. the germans seeked katharsis during the interwar period aswell.

can't live in greece.. should have gone to university abroad. what am i doing here with these clueless people.


brokor you equalize thousands of demonstrators with those few who did the damages.

Let me remind you that the cases your mentioned had to do with brainwashed people who follow their leader and doing nothing else but support the official propaganda.

But how exactly that is true for greek demonstrators? I mean the government, the main opposition party and 2 smaller parties (the big majority of the parliament) are actually in favor of the austerity measures and neoliberal politics.. Also all major greek media actively support them.

So obviously we don't have to do with any kind of thought control here.

Obviously, you dont study in greek universities, nor do you visit any greek blogs or news sites not affiliated with major networks. you talk of propaganda as smth official.
just because in the modern world goebbels was the one to put the foundations for propaganda, it doesnt mean that there has to be an official source.(moreover propaganda doesnt only mean the negative msgs but that may be off topic)
try spending a day in greek universities. try going to a student council there. those 20y old kids speaking as if they are 50y old marxists, using pre-written phrases to every context since they dont have their own opinion but the one their political party or organisation passes on to them. i study with them, i hang ou with them i even dabbled into student political organisations for a bit when i was 18. they will all tell you the same, they will be the ones camping at the syntagma square and throwing chunks of marble on your head. the other groups that talk of abolishing democracy and everyone is just happy with that since evryone is nostalgic of a little stalin these days. we allow these currents to exist for no reason but to control the universities and a big part of the society.
in a students life this is the propaganda you hear everyday. Information and bad advice has a way to reach you. Kids that used to be my friends, when asked why they go and break stuff in the center of Athens(coincidentally they all live in the suburbs. the center is left for the immigrants and the african mob. only few brave of us remain) only come up with a counter-question: "and what do you do to react"? We have reached a point where instead of "the end justifies the means" and the macchiavelian approach to society problems, we have "the means are the same no matter the cause". no matter what happens in the greek society people have to riot.

a 15y old falls dead on the other end of a cop's gun: we riot (i understood even though i didnt encourage. my dad works 20metres from the incident i had been there 3 times a week for the past 12 years)
tax raise on fuel and VAT raise: we riot

the pope visits athens: we riot

macedonia raises a statue of alexander: we riot

austerity measures 1,2,3 and 4: we riot

when did rioting become fun? have i been left out of the loop somehow?


how is the greek nation different than the german people or the cambodhian supporters? just because its not the government but rather radical-extremist organisation that propel this propaghanda? i am telling you mate it's not long till there is butchering in athen's streets, just in order to achieve this much wanted and "well deserved" katharsis. we have images of argentina 10 years ago but how bad can it get here? i am afraid really bad :/ and i hope we are lucky enough to survive.

Don't fool yourself, 20k people dont camp outside the parliament each on his own.

5k people dont get into battle formation without some guidance and/or support. Just because you can;t spot it doesn't mean it's not there.
i am by no means an analyst of the society, just a young student worried about his future, of which i see none in Greece. i am a citizen of Athens, born and raised, and i am tired of seeing my city turn to shreds just so someone can pass a message. i dont want those guys out of the parliament. it is their right to demonstrate according to the constitution, but i dont want them anyway. they are there everyday instead of working/doing smth productive just so people get scared/desperate and turn to those radicals for guidance. it is all a scheme and i am caught in it, so are those out on the streets for the most part.
i am not condoning conspiracy theories (turkish agents, americans blahblahblah) but you cant deny there is something rotten in the state of greece these days.
Winter is Coming
Tzeval
Profile Joined July 2011
44 Posts
July 14 2011 04:43 GMT
#810

no matter what happens in the greek society people have to riot.

a 15y old falls dead on the other end of a cop's gun: we riot (i understood even though i didnt encourage. my dad works 20metres from the incident i had been there 3 times a week for the past 12 years)
tax raise on fuel and VAT raise: we riot

the pope visits athens: we riot

macedonia raises a statue of alexander: we riot

austerity measures 1,2,3 and 4: we riot

when did rioting become fun? have i been left out of the loop somehow?

People do pretty stupid things, when they think they are in a situation where they can't get out. I don't know anything about the greek population, but i assume it is the same things that gets the french to do such things on a far more regular basis. They feel cheated by those who gover them (if they are actually cheated doesn't matter) and because they don't see who to get out of this situation they want to show their dissatisfaction by rioting. As people get more informed about the way they are governt this is likely to happen more often. We've seen it in spain, in italy and even in germany. When we're lucky this may get us more democracy some day, when that's not the case we just get a few more policestates.


I personaly think that the debt crisis will reach a new peak in the next few month and this will solve it. Sounds a little bit contradictory but one has to realize that when a state like spain or italy isn't able to pay it's debt that's a huge loss for the banks which lend the money. And such a big payment short fall is more than enough to trigger another global finance crisis. The banks know that and they won't let it happen. Therefore they will start lending to the states that are on the brink of bankruptcy to better conditions so they can recover with the money of the EU-packet. It will hurt for all the countries that have to undergo this changes because germany and france will push through hard conditions for the money. I hope that states will start to realize that investing in an balanced budget is worth more than money, because it buys .independence.
lOvOlUNiMEDiA
Profile Blog Joined October 2007
United States643 Posts
July 14 2011 04:53 GMT
#811
Bloggingheads.tv clip on the EURO
To say that I'm missing the point, you would first have to show that such work can have a point.
Ganondorf
Profile Joined April 2010
Italy600 Posts
Last Edited: 2011-07-14 18:14:27
July 14 2011 16:35 GMT
#812
On July 13 2011 15:39 Flyingdutchman wrote:
Show nested quote +
On July 13 2011 08:26 Ganondorf wrote:
Italy seems to be responding to the speculation attempts and both the stock market and the bond market are slowly recovering. Italy will default on its own, it's too big to be lead to default by speculation.

The current new financial law is missing 15bilion€, which are financed by a yet-to-be-defined fiscal reform in 2014, after the next elections :D I guess that made the markets rage a bit, who didn't understand that's just the way italian polticians work, trying to force the next government to make impopular austerity measures so it will be short lived.

Italy can easily be saved by improving the way the EU works, which should aim at making the euro lose some of its value and reduce the spread between bonds, maybe even take a step further, after the monetary union, make a bond union, which would also give more control over local governments spending. That would get rid of the spread problem and give speculators and rating agencies nothing to work on. Failing that, yeah the euro will go down, and possibly even the financial system as we know it (because of the domino effect in this case, most sovereign states will default, including germany and the us), paving the way for a new and hopefully better one.


There is no way the healthier Eurostates will go with a bond union just because Italy doesn't want (or can't because of politics) to reduce spending. Instead of taking measures to ensure healthy fiscal policy you want the easy/short sighted option of just shifting the burden of risk on to other nations. Your idea can't even work since no nation I can think of will give up its fiscal autonomy to some central agency that would determine the amount of money one can borrow. I'm sorry but this just comes across as a spoiled brat that doesn't want to clean his room.


You do realize that the excessive value of the euro has put those states on the road to default in the first place ? I'm not saying the stronger states should give out money, i'm just saying, if germany, france, the netherlands and the other "healthy" states like the euro as it is, they will have to pay for it, nothing comes for free. Without those politcal advances, the monetary union makes absolutely no sense and should be reversed. Italy would be fine if it still had its own currency and could just devalue it, and the same stands for most countries in trouble. The euro was only a first step to a full economic union of europe, if that's not happening, then get rid of it and try again in 50 years.
accela
Profile Joined February 2010
Greece314 Posts
July 14 2011 19:16 GMT
#813
http://www.guardian.co.uk/business/video/2011/jul/14/euro-crisis-song-video

"P-I-G-S" ;D
DND_Enkil
Profile Joined September 2010
Sweden598 Posts
July 14 2011 19:43 GMT
#814
On July 14 2011 09:22 brokor wrote:
I am 21, and i pay 13k euros in taxes out of a 28k earnings. how can someone build a business or start a family like that? i surely didnt steal anyones money personally or mislead anyone into giving me money.


Just want to point out that from a swedish perspective that sounds about right. I am 28, earn 30k/year and pay ~12k taxes.

You cant start a buisness really, but we have a working goverment that gives help to people wanting to start thier own buisness. Or you loan for it.

And as for a family, you either live cheap or much more common in sweden your wife works aswell and pulls in equal salary herself.
"If you write about a sewing needle there is always some one-eyed bastard that gets offended" - Fritiof The Pirate Nilsson
Flyingdutchman
Profile Joined March 2009
Netherlands858 Posts
July 15 2011 07:47 GMT
#815
On July 15 2011 01:35 Ganondorf wrote:
Show nested quote +
On July 13 2011 15:39 Flyingdutchman wrote:
On July 13 2011 08:26 Ganondorf wrote:
Italy seems to be responding to the speculation attempts and both the stock market and the bond market are slowly recovering. Italy will default on its own, it's too big to be lead to default by speculation.

The current new financial law is missing 15bilion€, which are financed by a yet-to-be-defined fiscal reform in 2014, after the next elections :D I guess that made the markets rage a bit, who didn't understand that's just the way italian polticians work, trying to force the next government to make impopular austerity measures so it will be short lived.

Italy can easily be saved by improving the way the EU works, which should aim at making the euro lose some of its value and reduce the spread between bonds, maybe even take a step further, after the monetary union, make a bond union, which would also give more control over local governments spending. That would get rid of the spread problem and give speculators and rating agencies nothing to work on. Failing that, yeah the euro will go down, and possibly even the financial system as we know it (because of the domino effect in this case, most sovereign states will default, including germany and the us), paving the way for a new and hopefully better one.


There is no way the healthier Eurostates will go with a bond union just because Italy doesn't want (or can't because of politics) to reduce spending. Instead of taking measures to ensure healthy fiscal policy you want the easy/short sighted option of just shifting the burden of risk on to other nations. Your idea can't even work since no nation I can think of will give up its fiscal autonomy to some central agency that would determine the amount of money one can borrow. I'm sorry but this just comes across as a spoiled brat that doesn't want to clean his room.


You do realize that the excessive value of the euro has put those states on the road to default in the first place ? I'm not saying the stronger states should give out money, i'm just saying, if germany, france, the netherlands and the other "healthy" states like the euro as it is, they will have to pay for it, nothing comes for free. Without those politcal advances, the monetary union makes absolutely no sense and should be reversed. Italy would be fine if it still had its own currency and could just devalue it, and the same stands for most countries in trouble. The euro was only a first step to a full economic union of europe, if that's not happening, then get rid of it and try again in 50 years.


I'm sorry but I don't see how unfunded liabilities on government balance sheet has much to do with the value of the euro. Claiming that 'removing monetary policy options is what put these states on the road to default' is just a cop out if they didn't have prudent fiscal policy to begin with.
Perscienter
Profile Joined June 2010
957 Posts
July 15 2011 08:31 GMT
#816
They?

What about the individual? I hate most parts of our politics, but can't do anything non-negligible against it.
NeonFox
Profile Joined January 2011
2373 Posts
July 15 2011 08:50 GMT
#817
On July 14 2011 09:22 brokor wrote:

And as for a family, you either live cheap or much more common in sweden your wife works aswell and pulls in equal salary herself.


That's common in most EU countries, a family where only the husband works is rare.
The biggest problem in EU and that prevails to a lot of modern "western countries" is that the system
is not efficient, the government keeps spending more money then it gains, the bureaucratic system is long and expensive.
Measures are taken to modernize it but everything is still to slow, and how can you expect people to work harder and do more sacrifices when they see chairmans of big companies get salaries of over 500k per year and get paid 2M when they are fired for management errors. Recently in France the chairman of one of the biggest hypermarket chains got nailed because he didn't want to pay the 15mn of pause that are obligatory per day, and at the same time his company raked in more money the the year before that and he got a pretty hefty raise. It's just an exemple but we see stuff like this every day.
Maenander
Profile Joined November 2002
Germany4926 Posts
July 15 2011 08:55 GMT
#818
On July 15 2011 01:35 Ganondorf wrote:
Show nested quote +
On July 13 2011 15:39 Flyingdutchman wrote:
On July 13 2011 08:26 Ganondorf wrote:
Italy seems to be responding to the speculation attempts and both the stock market and the bond market are slowly recovering. Italy will default on its own, it's too big to be lead to default by speculation.

The current new financial law is missing 15bilion€, which are financed by a yet-to-be-defined fiscal reform in 2014, after the next elections :D I guess that made the markets rage a bit, who didn't understand that's just the way italian polticians work, trying to force the next government to make impopular austerity measures so it will be short lived.

Italy can easily be saved by improving the way the EU works, which should aim at making the euro lose some of its value and reduce the spread between bonds, maybe even take a step further, after the monetary union, make a bond union, which would also give more control over local governments spending. That would get rid of the spread problem and give speculators and rating agencies nothing to work on. Failing that, yeah the euro will go down, and possibly even the financial system as we know it (because of the domino effect in this case, most sovereign states will default, including germany and the us), paving the way for a new and hopefully better one.


There is no way the healthier Eurostates will go with a bond union just because Italy doesn't want (or can't because of politics) to reduce spending. Instead of taking measures to ensure healthy fiscal policy you want the easy/short sighted option of just shifting the burden of risk on to other nations. Your idea can't even work since no nation I can think of will give up its fiscal autonomy to some central agency that would determine the amount of money one can borrow. I'm sorry but this just comes across as a spoiled brat that doesn't want to clean his room.


You do realize that the excessive value of the euro has put those states on the road to default in the first place ? I'm not saying the stronger states should give out money, i'm just saying, if germany, france, the netherlands and the other "healthy" states like the euro as it is, they will have to pay for it, nothing comes for free. Without those politcal advances, the monetary union makes absolutely no sense and should be reversed. Italy would be fine if it still had its own currency and could just devalue it, and the same stands for most countries in trouble. The euro was only a first step to a full economic union of europe, if that's not happening, then get rid of it and try again in 50 years.

The more I read about it, the more I realize, that the Euro is not the reason for the current crisis, it's just a catalyst.

The western world's borrowing scheme as a whole breaks down, the US only has top ratings because of the western bias. A chinese rating agency stripped western nations of their top ratings a year ago. (link). Note that China is the largest creditor of the US, it is their opinion that actually counts.

A common Eurobond system would only delay the austerity measures Italy can not avoid in the end.
Maenander
Profile Joined November 2002
Germany4926 Posts
July 15 2011 09:05 GMT
#819
On July 15 2011 17:31 Perscienter wrote:
They?

What about the individual? I hate most parts of our politics, but can't do anything non-negligible against it.

The state is based on people, anyone in the west can participate and live life as one thinks is best. People who choose the simple cop-out of "I can't change anything anyway" are actually part of the problem.
Perscienter
Profile Joined June 2010
957 Posts
July 15 2011 10:31 GMT
#820
Yes, sure. I don't know where you live and work but my life is marked by conflicts just to achieve things, which I take for granted.
Prev 1 39 40 41 42 43 158 Next
Please log in or register to reply.
Live Events Refresh
PSISTORM Gaming Misc
15:00
FSL TeamLeague wk19 PTB vs IC
Freeedom26
Liquipedia
SC Evo League
12:30
#16
SteadfastSC94
LiquipediaDiscussion
WardiTV Korean Royale
12:00
Group B
WardiTV1275
TKL 407
Rex134
LiquipediaDiscussion
[ Submit Event ]
Live Streams
Refresh
StarCraft 2
TKL 407
Lowko404
Rex 134
SteadfastSC 92
Codebar 50
StarCraft: Brood War
Britney 46010
Rain 2487
firebathero 300
Noble 151
Aegong 58
soO 57
Oya187 55
Rock 55
Backho 39
zelot 27
[ Show more ]
ToSsGirL 23
HiyA 21
Movie 18
yabsab 11
Shine 11
Dota 2
Gorgc7158
qojqva3957
Dendi878
League of Legends
Trikslyr49
rGuardiaN27
Counter-Strike
ScreaM1520
Heroes of the Storm
Khaldor452
Other Games
B2W.Neo1777
FrodaN657
Mlord555
Beastyqt450
crisheroes436
Hui .249
Fuzer 129
DeMusliM99
XaKoH 82
XcaliburYe80
Organizations
Dota 2
PGL Dota 2 - Main Stream28552
Other Games
EGCTV842
StarCraft: Brood War
lovetv 9
StarCraft 2
Blizzard YouTube
StarCraft: Brood War
BSLTrovo
sctven
[ Show 14 non-featured ]
StarCraft 2
• LUISG 4
• AfreecaTV YouTube
• intothetv
• Kozan
• IndyKCrew
• LaughNgamezSOOP
• Migwel
• sooper7s
StarCraft: Brood War
• BSLYoutube
• STPLYoutube
• ZZZeroYoutube
Dota 2
• C_a_k_e 1734
• Ler68
League of Legends
• Nemesis3248
Upcoming Events
IPSL
27m
Julia vs Artosis
JDConan vs DragOn
OSC
27m
BSL 21
3h 27m
TerrOr vs Aeternum
HBO vs Kyrie
RSL Revival
14h 57m
Classic vs SHIN
Maru vs TBD
herO vs TBD
Wardi Open
21h 27m
IPSL
1d 3h
StRyKeR vs OldBoy
Sziky vs Tarson
BSL 21
1d 3h
StRyKeR vs Artosis
OyAji vs KameZerg
OSC
1d 6h
OSC
1d 16h
Monday Night Weeklies
2 days
[ Show More ]
OSC
2 days
Wardi Open
2 days
Replay Cast
3 days
Wardi Open
3 days
Tenacious Turtle Tussle
4 days
The PondCast
4 days
Replay Cast
5 days
LAN Event
6 days
Replay Cast
6 days
Replay Cast
6 days
Liquipedia Results

Completed

Proleague 2025-11-16
Stellar Fest: Constellation Cup
Eternal Conflict S1

Ongoing

C-Race Season 1
IPSL Winter 2025-26
KCM Race Survival 2025 Season 4
SOOP Univ League 2025
YSL S2
BSL Season 21
CSCL: Masked Kings S3
SLON Tour Season 2
RSL Revival: Season 3
META Madness #9
BLAST Rivals Fall 2025
IEM Chengdu 2025
PGL Masters Bucharest 2025
Thunderpick World Champ.
CS Asia Championships 2025
ESL Pro League S22
StarSeries Fall 2025
FISSURE Playground #2

Upcoming

BSL 21 Non-Korean Championship
Acropolis #4
IPSL Spring 2026
HSC XXVIII
RSL Offline Finals
WardiTV 2025
IEM Kraków 2026
BLAST Bounty Winter 2026
BLAST Bounty Winter 2026: Closed Qualifier
eXTREMESLAND 2025
ESL Impact League Season 8
SL Budapest Major 2025
TLPD

1. ByuN
2. TY
3. Dark
4. Solar
5. Stats
6. Nerchio
7. sOs
8. soO
9. INnoVation
10. Elazer
1. Rain
2. Flash
3. EffOrt
4. Last
5. Bisu
6. Soulkey
7. Mini
8. Sharp
Sidebar Settings...

Advertising | Privacy Policy | Terms Of Use | Contact Us

Original banner artwork: Jim Warren
The contents of this webpage are copyright © 2025 TLnet. All Rights Reserved.