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by Ashraf Laidi
Posted: Feb 20, 2010 5:00
Comments: 30765
Posted: Feb 20, 2010 5:00
Comments: 30765
Forum Topic:
EUR
Discuss EUR in this thread
http://www.telegraph.co.uk/finance/financialcrisis/8901038/The-euro-is-a-macro-economic-weapon-of-mass-destruction-it-simply-must-be-defused..html
We need to start again planned by Germany and UK :-)
Imo the present state of EZone is only and only due to Germany's power politics.
Those highly indebeted members were given no chance in terms of productivity to compete with the economical power. That is the true reason for being indebted. It is not that they spent too much it is that they earned to little. Consequently domestic credit bubbles were popping up
such as construction in Spain or public services in Greece. These were indeed fostered by low Eur lending rates. That alone - a credit financed GDP - should have red lights flashing. But didn't. The Germany expanded eastward ( again) exporting workload to easter Europe, taking advantage of lower cost of labor, higher productivity. None of the PIIGS could compete.
Consequently then many lower paid industry jobs got lost in east Germany and the less educated joined Nazi groups. It is all a chain of consequences, with mathematical precision, foreseeable. Now after EFSF is a failure its all on ECB to print as hell. Backstop QE ...
It amases me reading so much venom directed from germany to uk when we always told you the common currency could never work. You should be asking for our help and advice to resolve the problems amicably. Instead you wish for economic war and I read about neo nazi influences. So that tells me the last 66 yrs has been in vain, we are almost back to square one.
I actually think there are many similarities between our two countries, we should be working together to form a N.European alliance with or without a new currency. We dont need France as it is now F-Pigs. Ireland can remain and the entry criteria will be very strict.
cat should learn one thing from lehman collapse, if you didnt help one in past, never expect help form others at present or in the future.
beariton will rule catopean!
Here we go:
EU bans claim that water can prevent dehydration
Brussels bureaucrats were ridiculed yesterday after banning drink manufacturers from claiming that water can prevent dehydration.
EU officials concluded that, following a three-year investigation, there was no evidence to prove the previously undisputed fact.
NHS health guidelines state clearly that drinking water helps avoid dehydration, and that Britons should drink at least 1.2 litres per day
Over and out! First we take their water next we take their pound!
Here is what a Briton lamented on this crown of clear stratigic reasoning: ( obviously a boozer addicted to british mineral water) : This is stupidity writ large.
The euro is burning, the EU is falling apart and yet here they are: highly-paid, highly-pensioned officials worrying about the obvious qualities of water and trying to deny us the right to say what is patently true.
If ever there were an episode which demonstrates the folly of the great European project then this is it.