dteowner
Shoegazer
It's the second time you've included it in your gameplans. That's a trend. Seems pretty serious to me.Er, I wasn't entirely serious about the German administration.
It's the second time you've included it in your gameplans. That's a trend. Seems pretty serious to me.Er, I wasn't entirely serious about the German administration.
Seriously, folks, I'm not being obnoxious here (at least no more than usual ). With the combined economies of the EU, 8 billion Euro is chump change.
It's the second time you've included it in your gameplans. That's a trend. Seems pretty serious to me.
From here, Gorath. I missed the "another". My error.Banks and politics are heavily connected in Germany. So this means politics sneaked another 8B€ to Greece and the banking sector will have their accountants handle this in the legally correct way, which means including a "risk" worth 8B€ in their books and making preparations for the worst case. Ergo: a tax write-off.
100bil is a much bigger number, but still not untouchable. Our bank bailout was $700bil, so it would seem 100bil is still something the EU should be able to come up with by lunchtime or so.
None of this even matters. The whole concept of a unified currency for Europe went boom, IMO. They tried it but it was a bad idea from the start.
That's a bit premature, methinks. I'd be very surprised if the euro unravels completely, although it's pretty much even money whether some or all of the PIIGS will leave it.
As to whether it's a bad idea, that's another story. There's a good case to be made that the idea is good, but the execution was deeply flawed; specifically, we never set up the institutional support a currency really needs, and we admitted countries that should not have been admitted.
It's also worth pointing out that the currency alone isn't behind the crisis — the SE Asian crisis that started with Thailand was very similar, and also caused massive global contagion, without a currency union among the countries where it begun.
Why? The IMF is there to help countries that get financial problems which they can't solve on their own. If that package is used, the country is in dire straits. So why shouldn't the IMF pay, too?
It's a matter of responsibility. The EU should be smart and rich enough to be able to handle this sort of thing on its own.
Bailing out businesses is bad enough, and enough of a drain on nations, now we are going to bail out countries? Lol. What a horrible idea that should be dead on arrival, IMO.
It's a matter of responsibility. The EU should be smart and rich enough to be able to handle this sort of thing on its own.
I thought it was a bad idea at the time, nevermind the issue of national sovereignty getting tossed out the window for most of Europe that bought into this cooked up bank scam. Nothing that's happened since the introduction of the Euro has changed my opinion on this issue.
Why? If other countries stumble, we have to put our money in via IMF, if one of us stumbles, we have to handle it on our own? What kind of fairness is that?
And as for "nations," the sooner we see the last of them, the better. If there are two political structures I'd like to see disappear, they're the nation-state and the state religion.