ARmy Rumour SErvice

Originally Posted by ugly

People who stay up till 2 am for election results often are the sort of person who holds a eurovision party in their house and dresses up for the occaision.

Huh..!!..do we have a new 'Mod'..??

Originally Posted by Wordsmith

I plead guilty to the charge m'lud - the euro is unsustainable over time and all my 'wisdom' has been is pointing out the obvious.

Yet the thing that worries me most about the whole situation is that the penalties of the euro failing are steadily increasing. With each national bailout, with each bank bailout, with each injection of LTRO, with each intervention in the bond market by the ECB, the liabilities for the taxpayers of the 17 eurozone countries are steadily building up.

I have talked before about the 'socialisation of debt' and that's exactly what's happening. More and more euro related debt is being removed from private hands and becoming the collective responsibility of the governments in the euro. I don't think the attempts to save the euro are anything near their end yet. I expect further large injections of cash to try and stave off the inevitable. Taxes in the euro countries are eventually going to go up massively to plug the resulting losses. And that'll wreck their economies for a generation to come.

Wordsmith

Not if the bankers become 'strange fruit' first...

Unfortunately, quantity of posting on here is not going win anyone a Nobel economics prize, especially as the core theory has not, and will not happen.
The Euro is here to stay, and so is the EU, people should start getting over those simple facts, and deal with it.

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Originally Posted by Alsacien

Unfortunately, quantity of posting on here is not going win anyone a Nobel economics prize, especially as the core theory has not, and will not happen.
The Euro is here to stay, and so is the EU, people should start getting over those simple facts, and deal with it.

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True...in terms of 'Bulls eyes' your goodself would appear to be on the outer peripheries and your 'brush stroke' statments get broader as time passes...

Originally Posted by Alsacien

Unfortunately, quantity of posting on here is not going win anyone a Nobel economics prize, especially as the core theory has not, and will not happen.
The Euro is here to stay, and so is the EU, people should start getting over those simple facts, and deal with it.

Sent from my Blackberry 9860 using Tapatalk

Dysfunctional political systems are capable of surviving for considerable lengths of time - the USSR is a good example.

However that does not change the fact that they are dysfunctional!

Originally Posted by Alsacien

Unfortunately, quantity of posting on here is not going win anyone a Nobel economics prize, especially as the core theory has not, and will not happen.
The Euro is here to stay, and so is the EU, people should start getting over those simple facts, and deal with it.

Sent from my Blackberry 9860 using Tapatalk

You subscribe to the view then that some sort of closer fiscal union will be forged before Sovereigns go under?

Originally Posted by Pyianno

Dysfunctional political systems are capable of surviving for considerable lengths of time - the USSR is a good example.

However that does not change the fact that they are dysfunctional!

You will never hear me singing the praises of the EU, but that does not mean it is going to go away in any of our lifetimes...so I'd rather deal with it than pretend its not there.

Originally Posted by geezer466

You subscribe to the view then that some sort of closer fiscal union will be forged before Sovereigns go under?

There is already closer fiscal agreement, and there will be more. But I don't subscribe to the ideal of full fiscal union as it is not needed.