- 16-06-2012, 16:18 #291
- Join Date
- Jan 2010
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.
- 16-06-2012, 17:03 #292
- 16-06-2012, 17:46 #293
- 16-06-2012, 18:52 #294
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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- 16-06-2012, 19:13 #295
- 16-06-2012, 20:18 #296"If a terrorist organisation wanted to knock out the moral compass of Britain, all they'd have to do is to kill 100 celebrities at random. The entire country would have an instant nervous breakdown."
- 16-06-2012, 20:45 #297
- 16-06-2012, 21:21 #298
- 16-06-2012, 21:22 #299
- 16-06-2012, 22:34 #300
Merkel really knows how to wind the Greeks up before a crucial election.....
Depending on the result's tomorrow Germany could end up playing Greece (who are already through) in the Euro's Qtr finals...... If it plays out it should be an interesting match......
BBC News - Germany's Merkel urges Greek commitment to austerityQuis custodiet ipsos custodes!