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Author Discussion

slinky

Original Poster:

15,368 posts

132 months

[news] 
Thursday 2nd February 2012 quote quote all

Irish

3,935 posts

122 months

[news] 
Thursday 2nd February 2012 quote quote all
...are we there yet?

Driller

5,734 posts

161 months

[news] 
Thursday 2nd February 2012 quote quote all
Can we not just say " no" and end the discussion? biggrin

slinky

Original Poster:

15,368 posts

132 months

[news] 
Thursday 2nd February 2012 quote quote all
I can lock it now if you want.. wink

Steffan

8,928 posts

111 months

[news] 
Thursday 2nd February 2012 quote quote all
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

5,734 posts

161 months

[news] 
Thursday 2nd February 2012 quote quote all
slinky said:
I can lock it now if you want.. wink

Globs

13,131 posts

114 months

[news] 
Thursday 2nd February 2012 quote quote all
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...

Steffan

8,928 posts

111 months

[news] 
Thursday 2nd February 2012 quote quote all
Driller said:
slinky said:
I can lock it now if you want.. wink
I anticipate this ending when the circus of the EU denials come to an end. Please.

Wombat3

6,812 posts

89 months

[news] 
Thursday 2nd February 2012 quote quote all
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.


Driller

5,734 posts

161 months

[news] 
Thursday 2nd February 2012 quote quote all
Steffan said:
I anticipate this ending when the circus of the EU denials come to an end. Please.
headache

Mermaid

16,982 posts

54 months

[news] 
Thursday 2nd February 2012 quote quote all
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.

MG-FIDO

222 posts

120 months

[news] 
Thursday 2nd February 2012 quote quote all
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! wink

Here's to another few hundred pages of (sometimes) intellectual debate in the meantime!

Norfolkit

896 posts

73 months

[news] 
Thursday 2nd February 2012 quote quote all
Driller said:
slinky said:
I can lock it now if you want.. wink
Noooooooo.I want to be on here when a load of eggy faced Euro politicians appear on camera saying 'sorrrreeeee'

Mermaid

16,982 posts

54 months

[news] 
Thursday 2nd February 2012 quote quote all
MG-FIDO said:
Don't say that Mermaid, I'm sure it'll all be over by Autumn! wink

!
No reference to Autumn in the thread title - the Mods know this could run and run and run. wink

AndrewW-G

11,968 posts

100 months

[news] 
Thursday 2nd February 2012 quote quote all
Driller said:
Can we not just say " no" and end the discussion? biggrin
As they found out in Ireland, if you say no, you'll just be asked again and again until you say yes!

0a

12,677 posts

77 months

[news] 
Friday 3rd February 2012 quote quote all
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. smile here's to volume 2!

Steffan

8,928 posts

111 months

[news] 
Friday 3rd February 2012 quote quote all
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.



VPower

3,501 posts

77 months

[news] 
Friday 3rd February 2012 quote quote all
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.

Driller

5,734 posts

161 months

[news] 
Friday 3rd February 2012 quote quote all
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!
hehe

sussexjob

1,004 posts

114 months

[news] 
Friday 3rd February 2012 quote quote all
Driller said:
They would have brought the heavyweight Mrs Doyle in if they had said no the second time.

http://www.youtube.com/watch?v=7w0ZyfkukUs
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