EPT
Very very popular unfortunately (for me). I always hated her from the start for everything she ever did basically - but she is still at the very top when it comes to popularity and pretty much untouchable.
The European Debt Crisis and the Euro - Page 79
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zatic
Zurich15359 Posts
Very very popular unfortunately (for me). I always hated her from the start for everything she ever did basically - but she is still at the very top when it comes to popularity and pretty much untouchable. | ||
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Rassy
Netherlands2308 Posts
Idiots, i cant believe they let it come this far. Looks like we realy need a crash before something will be done. So disapointed. 3 years this has been going on now, holding the markets hostage, how much longer they need? Ya you can go short, but thats not realy without risk either. The moment they announce "printing monney" it will shoot up like crazy. Sick of this state controlled manipulation. /rant... Merkel is popular, though it looks like her position is becoming less strong. In the last federal election in germany, wich was in may 2012 in nord rhein west falen her party the cdu lost 8.4% spd (left wing) 39.1% (up 4.6) cdu (merkels party) 26.3% (down 8.3) | ||
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Gorsameth
Netherlands22063 Posts
On June 02 2012 01:32 Rassy wrote: FFFFFF EUROPE Idiots, i cant believe they let it come this far. Looks like we realy need a crash before something will be done. So disapointed. 3 years this has been going on now, holding the markets hostage, how much longer they need? Ya you can go short, but thats not realy without risk either. The moment they announce "printing monney" it will shoot up like crazy. Sick of this state controlled manipulation. /rant... Merkel is popular, though it looks like her position is becoming less strong. In the last federal election in germany, wich was in may 2012 in nord rhein west falen her party the cdu lost 8.4% spd (left wing) 39.1% (up 4.6) cdu (merkels party) 26.3% (down 8.3) I said it several times when this whole greek crisis started that the best thing to do was to cut our losses instead of throwing money at it. Tobad Germany and France got it in there head that the euro union is somehow untouchable. If a country cant pay its bills today i cant pay em tomorrow either. You dont suddenly find several billion in monthly income. The system is broken and sometimes the best thing is for something broken to just die. Yes it creates a fucked up world and we will all suffer for it but atleast then we can work on fixing it. If this crisis doesnt mean the end it just means our children will have an even bigger one in there lifetime and so on. | ||
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[RS]Fuchs
76 Posts
the majority of the posters should have watched this first The current crises is a direct result of the combination of gov failure (iceland & greece), misallocation of economic resources (spain, irland and partially italy), central banks (Fed & ECB) and the underestimation of risks in the markets. There is neither a single reason for the crises nor will there be a single aka easy solution. Imho not a single country or gov can lay back and point at other countries federal budgets like Germany, Scandinavia or some of the BRICs, they are next in line. // i don't know if these have been posted before: nice videos which explain some of the mechanics in a quite funny way The Crisis of Credit Bird and Fortune - Subprime Crises | ||
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WhiteDog
France8650 Posts
On June 02 2012 01:58 [RS]Fuchs wrote: First things first: the majority of the posters should have watched this first http://www.youtube.com/watch?v=d0nERTFo-Sk The current crises is a direct result of the combination of gov failure (iceland & greece), misallocation of economic resources (spain, irland and partially italy), central banks (Fed & ECB) and the underestimation of risks in the markets. There is neither a single reason for the crises nor will there be a single aka easy solution. Imho not a single country or gov can lay back and point at other countries federal budgets like Germany, Scandinavia or some of the BRICs, they are next in line. // i don't know if these have been posted before: nice videos which explain some of the mechanics in a quite funny way The Crisis of Credit Bird and Fortune - Subprime Crises Ridiculous. Keynes vs Hayek, funny because they are both outdated. I hate those videos. | ||
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zatic
Zurich15359 Posts
On June 02 2012 01:32 Rassy wrote: Merkel is popular, though it looks like her position is becoming less strong. In the last federal election in germany, wich was in may 2012 in nord rhein west falen her party the cdu lost 8.4% spd (left wing) 39.1% (up 4.6) cdu (merkels party) 26.3% (down 8.3) This has zero to do with Merkel. Her popularity throughout the whole state election was unchanged and she is virtually untouchable on a national level. | ||
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paralleluniverse
4065 Posts
On June 02 2012 01:58 [RS]Fuchs wrote: First things first: the majority of the posters should have watched this first http://www.youtube.com/watch?v=d0nERTFo-Sk The current crises is a direct result of the combination of gov failure (iceland & greece), misallocation of economic resources (spain, irland and partially italy), central banks (Fed & ECB) and the underestimation of risks in the markets. There is neither a single reason for the crises nor will there be a single aka easy solution. Imho not a single country or gov can lay back and point at other countries federal budgets like Germany, Scandinavia or some of the BRICs, they are next in line. // i don't know if these have been posted before: nice videos which explain some of the mechanics in a quite funny way The Crisis of Credit Bird and Fortune - Subprime Crises Not a single one of those reasons you've listed as the cause of the Eurozone crisis is correct. https://en.wikipedia.org/wiki/Eurozone_crisis#Causes | ||
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[RS]Fuchs
76 Posts
On June 02 2012 02:45 paralleluniverse wrote: Not a single one of those reasons you've listed as the cause of the Eurozone crisis is correct. https://en.wikipedia.org/wiki/Eurozone_crisis#Causes and you base your theorie on wikipedia lol User was warned for this post | ||
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sekritzzz
1515 Posts
The only solution to this crisis is to: A) Make truly unified Europe with one government, one parliament, one central bank,one leader. B) Make a two European Unions. Strong Currency union with Core countries( Germany,NL, Lux, etc) and weak currency union(PIIGS). C) Break up the EU. I don't think Europeans have a will for solution A, solution B is too "politically" sensitive so I dont see that happening, and I expect a EU break up within the coming years even if they try to delay. Most Economists/finance people already know the EU is unsustainable. Also since i'm just some random forum goer, its probably more believable if someone like Ben Bernanke (head of US central bank) says what I am saying............... even if its indirectly. http://video.cnbc.com/gallery/?video=3000079797 tldr of video: - Congresswoman: asks why Germany is doing so well economically and if we can copy it in the USA? -Ben Bernanke: Germany has a "currency advantage" due to the Euro being weaker than a a deutche mark would be without the peripheral countries. I recommend the video for ANY European to watch/understand the video because it will affect your future. | ||
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DeepElemBlues
United States5079 Posts
Not a single one of those reasons you've listed as the cause of the Eurozone crisis is correct. https://en.wikipedia.org/wiki/Eurozone_crisis#Causes Well the very first paragraph in the "Causes" section includes everything he mentioned... | ||
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Rassy
Netherlands2308 Posts
Lmao that is so awesome, thx for sharing  zatic Germany. June 02 2012 02:41. Posts 10088 You could be right, i am not german. It was brought in the netherlands on the news as if merkel was loosing a bit of support. Guess will have to await the election, i do think merkel will remain in power btw. | ||
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{CC}StealthBlue
United States41117 Posts
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paralleluniverse
4065 Posts
On June 02 2012 02:56 DeepElemBlues wrote: Well the very first paragraph in the "Causes" section includes everything he mentioned... Here's what the first paragraph says: The European sovereign debt crisis resulted from a combination of complex factors, including the globalization of finance; easy credit conditions during the 2002–2008 period that encouraged high-risk lending and borrowing practices; the 2007–2012 global financial crisis; international trade imbalances; real-estate bubbles that have since burst; the 2008–2012 global recession; fiscal policy choices related to government revenues and expenses; and approaches used by nations to bailout troubled banking industries and private bondholders, assuming private debt burdens or socializing losses. Nothing he said is in this paragraph. | ||
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radiatoren
Denmark1907 Posts
On June 02 2012 02:45 paralleluniverse wrote: Not a single one of those reasons you've listed as the cause of the Eurozone crisis is correct. https://en.wikipedia.org/wiki/Eurozone_crisis#Causes That is a rather subjective reading of what he points to. Greece was a public sector problem (size and cost) which does have something to do with the government. Iceland is described as a banking-problem in the wiki, but in reality selling everything to private people including your nations underground, fishingrights to every area in the country and cutting all government influence on banks as their government did at the time probably did not help prevent the insane credit spending spree that caused the boom. Ireland is described in the Wiki as having had a huge property bubble and the boom cripling it with unexpected debt which could be called a misallocation of resources. In this particular case allocation of resources into property. "Underestimation of risks in the market" could easily be the "high-risk lending and borrowing practices" in the Wiki. Spain is described as an almost insignificant problem in the Wiki, which is probably due to Greece not bellying up yet. Deficit and the unemployment rate seems to be the biggest problem. He is probably not right in this case even though misallocation of resources is a broad cloud. Italy is mostly having the problem of far too high debt. Again that is not immediately what I would call "misallocation of resources". It is more of a bad past coming back to haunt. Overall his assessment of the problems in the individual countries is not completely off the target, but he is absolutely not completely right either. Regarding the video... Let us just say... Facepalm. On June 02 2012 02:52 sekritzzz wrote: The EU is structurally flawed but these politicians simply don't want to accept reality or are too scared to. I've said it time and again (possibly posted in this thread) anybody who knows anything about economics and is truthful knows that the EU in its current state is unsustainable because of currency discrepancy. The only solution to this crisis is to: A) Make truly unified Europe with one government, one parliament, one central bank,one leader. B) Make a two European Unions. Strong Currency union with Core countries( Germany,NL, Lux, etc) and weak currency union(PIIGS). C) Break up the EU. I don't think Europeans have a will for solution A, solution B is too "politically" sensitive so I dont see that happening, and I expect a EU break up within the coming years even if they try to delay. Most Economists/finance people already know the EU is unsustainable. Also since i'm just some random forum goer, its probably more believable if someone like Ben Bernanke (head of US central bank) says what I am saying............... even if its indirectly. http://video.cnbc.com/gallery/?video=3000079797 tldr of video: - Congresswoman: asks why Germany is doing so well economically and if we can copy it in the USA? -Ben Bernanke: Germany has a "currency advantage" due to the Euro being weaker than a a deutche mark would be without the peripheral countries. I recommend the video for ANY European to watch/understand the video because it will affect your future. You are confusing two fundamentally different things: EU and the EURO. EU is a loose 3 chamber cooperation on politics. EURO is a monetary union betwen some, but not all, EU countries. solution A makes absolutely no sense in relation to economy since these are proposals towards EU and not the EURO... solution B is possible. Since Ireland does not really have a bad economy, but a too large debt at the wrong time, they are probably a strong economy contender if you want to look at it that way. However, nobody can see into the future and telll which economies are strong in 2040. Therefore it is not really a solution but a push the problem to the future and pray. solution C is a true solution if you replace EU with the EURO... solution D would be EURO-bonds and significantly more economic standardisation inside the EURO-zone. That seems to be the road they have chosen in Germany and therefore in the EURO-group. It can work, but it will demand huge enough sacrifices that I do not think any independent democracy can take it. | ||
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Rassy
Netherlands2308 Posts
Spain is a huge problem,the realestate boom in spain was the biggest of all the booms in the eurozone. Now that their real estate boom has busted, the banks are left over with mortgages without sufficient collateral. With the economy in a slump, more and more people default on their mortgage. Spain banking crisis is next, wich effects banks all over europe cause they all helped finance the boom with mortgages. | ||
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lOvOlUNiMEDiA
United States643 Posts
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{CC}StealthBlue
United States41117 Posts
TORONTO/BERLIN, June 4 (Reuters) - Finance chiefs of the Group of Seven leading industrialized powers will hold emergency talks on the euro zone debt crisis on Tuesday in a sign of heightened global alarm about strains in the 17-nation European currency area. With Greece, Ireland and Portugal all under international bailout programmes, financial markets are anxious about the risks from a seething Spanish banking crisis and a June 17 Greek election that may lead to Athens leaving the euro zone. "Markets remain skeptical that the measures taken thus far are sufficient to secure the recovery in Europe and remove the risk that the crisis will deepen. So we obviously believe that more steps need to be taken," White House press secretary Jay Carney told reporters. Canadian Finance Minister Jim Flaherty said ministers and central bankers of the United States, Canada, Japan, Britain, Germany, France and Italy would hold a special conference call, raising pressure on the Europeans to act. "The real concern right now is Europe of course - the weakness in some of the banks in Europe, the fact they're undercapitalised, the fact the other European countries in the euro zone have not taken sufficient action yet to address those issues of undercapitalisation of banks and building an adequate firewall," Flaherty told reporters. Source | ||
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Epocalypse
Canada319 Posts
Article describing Estonia's status. http://bit.ly/KKPbeA Right now countries in Europe who are smart have a huge chance of becoming the next big power of Europe. If they would embrace Capitalism then people would flood into that country to fill jobs. Estonia is complaining that it does not have enough people to fill the available positions. | ||
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Karakaxe
Sweden585 Posts
They usually get it right in scandinavia... | ||
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DeepElemBlues
United States5079 Posts
On June 03 2012 03:39 paralleluniverse wrote: Here's what the first paragraph says: The European sovereign debt crisis resulted from a combination of complex factors, including the globalization of finance; easy credit conditions during the 2002–2008 period that encouraged high-risk lending and borrowing practices; the 2007–2012 global financial crisis; international trade imbalances; real-estate bubbles that have since burst; the 2008–2012 global recession; fiscal policy choices related to government revenues and expenses; and approaches used by nations to bailout troubled banking industries and private bondholders, assuming private debt burdens or socializing losses. Nothing he said is in this paragraph. Everything he said is listed there, you're just being pigheaded because he disagreed with you. | ||
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