Is the end nigh for the Euro? [vol. 2]

[smack]

fbrs said:

if i had a french car i'd probably want to burn it too

[Mermaid]

Reuters
9:40 a.m. CDT, May 16, 2013


PARIS (Reuters) - French President Francois Hollande called on Thursday for an economic government for the euro zone that would have its own budgetary capacity, a harmonized tax system and a president.

Speaking at a news conference marking his first year in power, he said France wanted to create a full political European Union within two years.
http://www.chicagotribune.com/news/sns-rt-us-franc...


Surrendered.

[CDP]

Mermaid said:

Reuters
9:40 a.m. CDT, May 16, 2013


PARIS (Reuters) - French President Francois Hollande called on Thursday for an economic government for the euro zone that would have its own budgetary capacity, a harmonized tax system and a president.

Speaking at a news conference marking his first year in power, he said France wanted to create a full political European Union within two years.
http://www.chicagotribune.com/news/sns-rt-us-franc...


Surrendered.

Why do the French always seem to elect such awful leaders? I mean we've had some duffers and so have the Americans but France is just in a different league.

What do you reckon comes next? Traditional revolution and guillotine?

[turbobloke]

CDP said:

Mermaid said:

Reuters
9:40 a.m. CDT, May 16, 2013


PARIS (Reuters) - French President Francois Hollande called on Thursday for an economic government for the euro zone that would have its own budgetary capacity, a harmonized tax system and a president.

Speaking at a news conference marking his first year in power, he said France wanted to create a full political European Union within two years.
http://www.chicagotribune.com/news/sns-rt-us-franc...


Surrendered.

Why do the French always seem to elect such awful leaders? I mean we've had some duffers and so have the Americans but France is just in a different league.

What do you reckon comes next?

Tony Bliar submitting his application?

He may want to expand his property portfolio (Malta?) first.

[Andy Zarse]

CDP said:

Mermaid said:

Reuters
9:40 a.m. CDT, May 16, 2013


PARIS (Reuters) - French President Francois Hollande called on Thursday for an economic government for the euro zone that would have its own budgetary capacity, a harmonized tax system and a president.

Speaking at a news conference marking his first year in power, he said France wanted to create a full political European Union within two years.
http://www.chicagotribune.com/news/sns-rt-us-franc...


Surrendered.

Why do the French always seem to elect such awful leaders? I mean we've had some duffers and so have the Americans but France is just in a different league.

What do you reckon comes next? Traditional revolution and guillotine?

Plus ca change. Not so much as a shot fired in self-defence. All we need is for President Hollande to dress up in a monkey suit gnorring on a nice ripe slice of Camembert.

[Digga]

smack said:

fbrs said:

if i had a french car i'd probably want to burn it too

If I had a French car, I'd suspect arson less than a government-sponsored campaign to deflect attention from electrical-fault related fires.

One of the lads I was out biking with last night has a Renault Megane snotter which he says will regularly drop a window, at random, after it has been locked. He no longer bothers locking it.

[CDP]

Andy Zarse said:

CDP said:

Mermaid said:

Reuters
9:40 a.m. CDT, May 16, 2013


PARIS (Reuters) - French President Francois Hollande called on Thursday for an economic government for the euro zone that would have its own budgetary capacity, a harmonized tax system and a president.

Speaking at a news conference marking his first year in power, he said France wanted to create a full political European Union within two years.
http://www.chicagotribune.com/news/sns-rt-us-franc...


Surrendered.

Why do the French always seem to elect such awful leaders? I mean we've had some duffers and so have the Americans but France is just in a different league.

What do you reckon comes next? Traditional revolution and guillotine?

Plus ca change. Not so much as a shot fired in self-defence. All we need is for President Hollande to dress up in a monkey suit gnorring on a nice ripe slice of Camembert.

If I were Angela Merkel I'd be trying to work out how to avoid this at almost any cost but she probably won't need to as Hollande looks pretty finished.

[CDP]

Mermaid said:

Reuters
9:40 a.m. CDT, May 16, 2013


PARIS (Reuters) - French President Francois Hollande called on Thursday for an economic government for the euro zone that would have its own budgetary capacity, a harmonized tax system and a president.

Speaking at a news conference marking his first year in power, he said France wanted to create a full political European Union within two years.
http://www.chicagotribune.com/news/sns-rt-us-franc...


Surrendered.

Or is he stoking up debate and dissent in the Tory backbenches to cause Cameron as much pain as possible? If so it's a pretty extreme way of achieving it.

[turbobloke]

CDP said:

Mermaid said:

Reuters
9:40 a.m. CDT, May 16, 2013


PARIS (Reuters) - French President Francois Hollande called on Thursday for an economic government for the euro zone that would have its own budgetary capacity, a harmonized tax system and a president.

Speaking at a news conference marking his first year in power, he said France wanted to create a full political European Union within two years.
http://www.chicagotribune.com/news/sns-rt-us-franc...


Surrendered.

Or is he stoking up debate and dissent in the Tory backbenches to cause Cameron as much pain as possible? If so it's a pretty extreme way of achieving it.

TBH it's a clear case of looking for befuddlement and panic from FH as opposed to strategy.

[Andy Zarse]

CDP said:

Or is he stoking up debate and dissent in the Tory backbenches to cause Cameron as much pain as possible? If so it's a pretty extreme way of achieving it.

More likely to expose the vacuous policies of Milipede and the halfwit Clegg.

[Mermaid]

turbobloke said:

TBH it's a clear case of looking for befuddlement and panic from FH as opposed to strategy.

We should colonise the French.

[Blib]

Mermaid said:

turbobloke said:

TBH it's a clear case of looking for befuddlement and panic from FH as opposed to strategy.

We should colonise the French.

Hmmmm.

Back when I was in school, our Geography teacher informed us that our nuclear arsenal is to defend ourselves from the French. So, I say nuke 'em from orbit. It's the only way to be certain.



eta:

One of the four proposals was this:

Hollande said:

- a European energy community to coordinate the transition to renewable energy sources;

So, he's still tied to the idea of wasting trillions of Euros on unworkable initiatives. Terrific.

Edited by Blib on Thursday 16th May 17:09

[anonymous-user]

befuddlement - oh how true!

[LongQ]

completetangent said:

Steffan said:

I only invest in Canadian currency and assets because I trust that relatively stable massively naturally resourced currency

But doesn't Canada have the same property bubble as anywhere other place where there has been low interest rates and easy mortgages? If I understand it right, the CMHC (i.e. taxpayers) underwite all of the mortgage loans, so it won't be pleasant if/when the shoe drops.

Here's one report: http://www.economist.com/news/finance-and-economic...

And it's not clear that the natural resource potential is yet significant: "According to the Conference Board of Canada, the resource sector (energy, forestry, mining, agriculture) accounted for a mere seven per cent of GDP in 2012 while housing (finance, real estate, construction) accounted for 27 per cent." Source: http://thetyee.ca/Opinion/2013/03/11/Canadian-Hous...

Some time back (I posted a link back then) I read an opinion piece that suggested all was until about 5 years ago around the time a Mr. Carney was appointed to head up the Bank of Canada.

[London424]

Rejoice! European car sales rise for the first time in 18 months.

http://www.bbc.co.uk/news/business-22566394

Shhh...but keep quiet that if you strip out the UK (up 15%) then it's not so rosy

[Tartan Pixie]

RE Monsieur Hollande's call for an EU government and president, I'm not sure why everyone's shouting surrender as it looks to me like a pretty solid grab at Germany's piggy bank. Surely this call is one for France and the southern states to win and Germany's to lose?

An economic government would probably be able to issue eurobonds and if it was coupled with the ECB being turned in to a proper central bank it would massively undermine Germany's dominant position. Whether Germany will allow this to happen is another question, however I suspect than when faced with unpalatable alternatives it will be comrade Merkel who does the surrendering (or whoever wins in September).

IMO the federal project won't be decided until the German political elite climb in to a bunker in Berlin and decide which way to economically shoot themselves in the head:

1 - Leave the euro and destroy their manufacturing base with an appreciating deutschmark, potentially risking a collapse of the euro which would wipe trillions off the balance sheets of northern banks as southern countries devalue and repatriate debt. (While simultaneously becoming the most hated nation in Europe for being unwilling to make sacrifices after every one else has suffered.)

or

2 - Surrender their sovereignty and bank account on the alter of Europe, even if that means a bit more French style socialism.

My money's on option 2 as the most likely outcome. After all we've been here twice before and after the initial invasion it's the Jerries who end up in the monkey suit with a chunk of camembert in their gob.

Edited by Tartan Pixie on Friday 17th May 12:42

[LongQ]

Tartan Pixie said:

My money's on option 2 as the most likely outcome. After all we've been here twice before and after the initial invasion it's the Jerries who end up in the monkey suit with a chunk of camembert in their gob.

Would that be a solution or a huge can kick?

[NomduJour]

The latter.

[PhillipM]

I'm surprised there's any cans left to kick.

[Mermaid]

PhillipM said:

I'm surprised there's any cans left to kick.

Eurobonds seems favourite.