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Will Germany leave the Euro ?
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View Poll Results: Will Germany leave the Euro
Yes 8 17.02%
No 36 76.60%
Don't know 3 6.38%
Voters: 47. You may not vote on this poll

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Will Germany leave the Euro ?

  #71 (permalink)
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Europe Crisis Timeline: Maastricht to Papandreou

Europe Crisis Timeline: Maastricht to Papandreou - Bloomberg

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  #72 (permalink)
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Some interesting thoughts/articles and interviews put together here:

A True Greek Tragedy - Odyssey of The EU:

A True Greek Tragedy - Odyssey of the EU

"The cradle of democracy is under attack. The inherent anatomy of the human spirit is at stake. What was won at the Battle of Thermoplyea was lost in the banksters board rooms that control the EU. The fluidity of this definitive game of chicken, poses the beheading of the rooster and the scorching of all the hens. This journey into Land of the Lotus Eaters, not only needs to blind Polyphemus, but must destroy his New World Order father, Poseidon. The designed destruction of democratic authority is meant to eliminate any referendum on the EU despotism. The phony debt instruments caused the Greek default, that will soon spread the planetary misery, on the rest of us. Western civilizationís birth, owes homage to the Greek principle of individual autonomy. Its demise is a product of the inherent betrayal of humanity by the forces of financial exploitation, that exemplifies I Timothy For the love of money is a root of all kinds of evils."

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  #73 (permalink)
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The Eurozone is running modest budget deficits, particularly when compared to the US or the UK. The total budget deficit is about 4.2% There are just some odd countries (Ireland and Greece, followed by Spain and Portugal), who are running Ponzi schemes.

The Euro does not allow those countries to print money. This makes a default possible, which may be more a threat to the banking sector than the Euro. The UK and the US have own currencies and unlimited access to the printing press, which allows them to run higher budget deficits than the Eurozone.

Once the noise is over, the Euro might be stronger than before. The 26-week moving average of the Euro versus the USD just shows a slow cyclical movement.

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  #74 (permalink)
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So it's all about Greek corruption is it ? !

Express.co.uk - Home of the Daily and Sunday Express | UK News :: Bungling EU loses £4billion in a year

"The annual report from the European Court of Auditors found that 3.7 per cent of the European Unionís £105billion budget for 2010 was lost through fraud and error. This is equivalent to a third of Britainís annual £12billion contribution to EU coffers."

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  #75 (permalink)
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Berlusconi Resigns as Monti Prepares New Italian Government - Bloomberg

"Prime Minister Silvio Berlusconi resigned, paving the way for former European Union Competition Commissioner Mario Monti to form a government that will try to protect Italy from being engulfed by the region’s debt crisis."



Greece and Italy Seek a Solution From Technocrats:

http://www.nytimes.com/2011/11/11/world/europe/greece-and-italy-ask-technocrats-to-find-solution.html?pagewanted=1&_r=2

"In Italy, momentum was building behind Mario Monti, a former European commissioner, to replace the once-invincible Prime Minister Silvio Berlusconi as early as Monday. "
"Greece named Lucas Papademos, a former vice president of the European Central Bank,"



"Sold To You": European Banks Quietly Dumping ?300 Billion In Italian Debt | ZeroHedge

"While the market is ripping today on absolutely nothing (earlier we noted the rotation of muppet X with muppet Y - this changes nothing but who cares), BTPs are soaring, and confusion is prevalent, one thing is certain: we now know who is not buying Italian bonds. As IFR reports, "European banks are planning to dump more of the €300bn they own in Italian government debt, as they seek to pre-empt a worsening of the region’s debt crisis and avoid crippling writedowns – a move that could scupper the European Central Bank’s efforts to bring down soaring yields. "

"The German group – which considers Italy a “second home market”, according to Oliver Bšte, chief financial officer – has some of the biggest sovereign exposure to Italy of any non-Italian financial institution, with government bonds worth €25.6bn at the end of the third quarter, equal to more than 6 per cent of the company’s €413bn fixed income portfolio." Is it clear now why the EFSF as a €1 trillion vacuum cleaner idea came straight out of Allianz? And is it clear now who has the most to lose with the failure of the EFSF as a multifunctional Swiss Army bailout knife?"


So we shall see how well bankers and commissioners deal with the crisis created by the fraud of bankers and commissioners, and what this all has in stall for the Euro.

PS: is it Monti as in Python ? !!

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Last edited by zt379; November 12th, 2011 at 06:08 PM.
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  #76 (permalink)
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Just a run down of who has been democratically elected and who has not.
Along with some interesting quotes from each.

Eurozone crisis: who is pulling the strings in Europe? - Telegraph

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Last edited by zt379; November 12th, 2011 at 06:19 PM.
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  #77 (permalink)
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ECB Prints More Money

The ECB will print more money and buy the debts of the fringe countries, regardless of what those idiots Merkel and Sarkozy want, why? because there is no other alternative. Austerity Measures will not work because the price of servicing the debt will be too great. No one will leave the European Union because they have a damn sight more to lose if they do. Spain and Greece for example can not afford to leave the EU because so many of their citizens are dependant on the subsidies handed out to them year in year out, by the EU, their infrastructures would suffer and deterioate because they would lose access to the billions of euros in grants that they receive, this does not just apply to the PIIGS but also to Germany, France etc. Each country has become intrinsically interwoven and dependant on "THE SYSTEM", that in order to break away from it would cause so much mayhem it would take years if not decades to recover.

The Americans have the right idea. Print as much money as you can, pour it into the local economy to stimulate growth particularly in the accounts of the allready wealthy and then when your children are old enough they can sort out the mess that has been left for them.

Out of curiosity, has anyone been able to find out where the 13 trillion dollars went, it sure as hell has not shown up in the pockets of ordinary people.

Can anyone answer this for me in plain English.

Why is GDP used as the measure of debt. GDP is a largely fictious figure, like many produced by governments. Surely it would be more relevant to compare Expenditure against Income, basic accounting. Income being Tax Revenues + Others. Would this not reveal a different picture or would the truth be too shocking??


Last edited by dee50; November 29th, 2011 at 01:42 PM.
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