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slinky
Original Poster
14,389 posts
118 months
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Irish
3,718 posts
108 months
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Driller
5,237 posts
147 months
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Can we not just say " no" and end the discussion? 
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slinky
Original Poster
14,389 posts
118 months
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I can lock it now if you want.. 
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Steffan
6,187 posts
97 months
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slinky said: Well this is certainly a new experience for me. Vol2 Eh? As I was saying in volume One the EU leaders are not facing reality at all well. They do not want the Euro/EU/Eurozone to be in any difficulty. Understandable. But unfortunately they do not seem able to grasp that the fundamental problem that the damage to the EU system has already been done. On a massive scale. The defaulters simply cannot afford to repay their grossly bloated debts and the interest on the debts. This is not a question of policy up for discussion. It cannot be spun away. Or hidden in the bowels of the EU non audited accounts that go on year after year. It cannot be done and as the economists quoted in a post earlier today all reminded us that it is simply not possible for this to be glossed over. So on we go with the merry go round. I wonder what will break first? Portugal? Possibly? Greece? Probably. Spain? Possibly? But the endemic insolvency of the majority or European Banks given their exposure to these insolvent nations is a wild card waiting to be played. One way or another this is going to break down. The longer it takes the worse the consequences in the huge losses that will emanate and reverberate throughout the EU.
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Driller
5,237 posts
147 months
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slinky said: I can lock it now if you want.. 
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Globs
11,746 posts
100 months
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http://plus.lefigaro.fr/note/rumblings-of-germanop...article said: French President Nicolas Sarkozy has used the explosive terminology “Germanophobe” to denounce French Socialists critiquing Germany’s powerful role in the Euro zone.
But this is more than a French election issue: rumblings of anti-German sentiment are popping up all over Europe. In London and in Athens, both elected officials and the media are denouncing the accession of the “Fourth Reich.” Looks like it's all going Pete Tong...
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Steffan
6,187 posts
97 months
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Driller said: slinky said: I can lock it now if you want.. I anticipate this ending when the circus of the EU denials come to an end. Please.
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Wombat3
5,180 posts
75 months
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Globs said: http://plus.lefigaro.fr/note/rumblings-of-germanop...article said: French President Nicolas Sarkozy has used the explosive terminology “Germanophobe” to denounce French Socialists critiquing Germany’s powerful role in the Euro zone.
But this is more than a French election issue: rumblings of anti-German sentiment are popping up all over Europe. In London and in Athens, both elected officials and the media are denouncing the accession of the “Fourth Reich.” Looks like it's all going Pete Tong... I have some sympathy for the Germans because I really don't think "world domination" is anywhere near their agenda. That said, they are finding out what a complete bunch of muppets they got into bed with.
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Driller
5,237 posts
147 months
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Steffan said: I anticipate this ending when the circus of the EU denials come to an end. Please. 
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Mermaid
12,492 posts
40 months
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Steffan said: I anticipate this ending when the circus of the EU denials come to an end. Please. In the electronic world, the end is impossible to predict. There may never be an end.
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MG-FIDO
210 posts
106 months
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Mermaid said: In the electronic world, the end is impossible to predict. There may never be an end. Don't say that Mermaid, I'm sure it'll all be over by Autumn! Here's to another few hundred pages of (sometimes) intellectual debate in the meantime!
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Norfolkit
773 posts
59 months
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Driller said: slinky said: I can lock it now if you want.. Noooooooo.I want to be on here when a load of eggy faced Euro politicians appear on camera saying 'sorrrreeeee'
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Mermaid
12,492 posts
40 months
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MG-FIDO said: Don't say that Mermaid, I'm sure it'll all be over by Autumn! ! No reference to Autumn in the thread title - the Mods know this could run and run and run.
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AndrewW-G
11,968 posts
86 months
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Driller said: Can we not just say " no" and end the discussion? As they found out in Ireland, if you say no, you'll just be asked again and again until you say yes!
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0a
8,434 posts
63 months
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Volume 1 predicted events far, far better than the mainstream media. Thankyou Steffan for starting the topic! I predict volume 2 will see several exits, survival of the Euro in a pathetic desperate form (death will come in volume 3), and, as the thread has now become widespread required reading, the registration of PH user "amerkel" to argue the pro Euro side.  here's to volume 2!
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Steffan
6,187 posts
97 months
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Is there, in fact, anyone who seriously thinks that the EU can actually resolve the issues without default? It seems impossible to me.
The EU may be able to flood the money markets with funny money and hide the Insolvency of the defaulters and the EU Banks who have lent to the defaulters.
The EU may be able to buy more time with even more funny money supporting the defaulters short term.
But as the collection of Economists quoted in the I paper in an earlier post yesterday there are a number of wholly insolvent, collapsing economies within the euro who are sovereign states and unable to improve their basic economic wherewithal. These sovereign states cannot repay their debts or the interest on the debts.
IMO there is no realistic method or option to be followed to correct the impending insolvencies. If someone has a serious belief that this could be done I would be interested to see the method proposed.
The EU can huff and puff all they like: they are many months away from getting agreement to the serious fiscal and financial changes that have been proposed by Merkozy. Even if they can, which I very much doubt, the defaulters will pull out as soon as the lovely gravy train drys up.
There is no alternative.
The Insolvent countries cannot remain within the Euro.
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VPower
3,098 posts
63 months
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Just to say thanks to Slinky for vol.2
I have never been a news (sic) paper buyer, so this thread is enlightening.
In fact a lot of PH threads are similarly informative.
And also a big thanks to the contributers who are in the know sharing your insights.
I'm still fearing a mass movement of unemployed to Germany and the UK when the cuts bite.
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Driller
5,237 posts
147 months
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AndrewW-G said: As they found out in Ireland, if you say no, you'll just be asked again and again until you say yes! 
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sussexjob
835 posts
100 months
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