Europe is in trouble because you, THE UNION MEMBERS ( amusing thought - union- what union?) borrowed too much money. If your politicians had not spent so much of your money, and borrow more to boot, to buy the votes of various constituencies, you would not have these problems now. You continue to blame everyone but yourselves. The EU will collapse because European society is a welfare state that could never be sustained. There is no way to fix it without pain (i.e., spending cuts). The reason every plan your "leaders" dream up fails is because they try to fix debt by more borrowing. You're finished. Your society is a failure. I hope the US does not follow you, but our current leadership seem bent on doing just that. You're spoiled just like Americans are spoiled. Don't take my word for it. Rather, listen to the head of the Chinese Sovereign Wealth Fund, to whom your leader went begging last week? “I think if you look at the troubles which happened in European countries, this is purely because of the accumulated troubles of their worn out welfare societies,” Jin Liqun said in an interview with Al Jazeera television. “I think the labour laws are outdated – the labour laws induce sloth, indolence rather than hard working. The incentive system is totally out of whack.”
I'm quite impressed with Mr. Pappandreou's performance. As I thought earlier, this pantomime seems to be designed entirely to allow him a somewhat dignified exit.He 'negotiated' (i.e., 'had imposed on him') the EU debt relief package and then, when the conservatives railed against him for the terms of that package, floated the idea of a referendum (although I doubt he ever intended there to be one). That caused sufficient panic among his opponents that he proposed a 'government of national unity' (i.e. 'a government not led by him') to do the dirty work of actually implementing the requirements of the EU package. Now he can place the leader of the conservatives squarely in the gunsights for the duration of the worst of the cuts that must hit Greece, walk away and say, "But I wanted the people to choose!"
They shouldn't clean out his office as he or his successor will be back within two years.
6 comments:
One of the options of a debtor has to be bankruptcy, this is fundemental in true capitalism. It forces lenders to not expose themselves to debts which cannot be repaid. Moreover this isnt about money, its about democracy!
There is a great documentary about this very subject - "Inside Job".
The people behind the global economic failure knowingly sold bad debt as triple AAA safe investments while betting that these products would fail. A wholesale fraud and it goes right to the top, those that made millions are still in power and still connected to the US government as advisers etc.
The credit ratings agencies were also complicit and the whole financial system continues to be rigged in favour of the corporate elite, the bankers and the politicians - normal hard working people are simply expected to pick up the tab and pay through their taxes.
"The middle class has — at least
two-thirds of it — crashed into penury. Americans' store of value and
savings — the house — is worthless; social safety nets have eroded;
students emerge from higher education crushed by debt. Thirty million
Americans are without work or are working part-time. Nearly 6 million
manufacturing jobs in the United States have disappeared since 2000, and
more than 40,000 factories have closed. African-Americans have endured
the greatest loss in collective assets in their history. Hispanics have
seen their net worth drop by two-thirds. Millions of whites have been
pitchforked into poverty and desperation."
So what are we going to do about these Fascist Psychopaths in control?Sit down in front of St Paul's Cathedral?
'long-suffering Greek population'? What are you talking about? Is democracy about freely choosing a mendacious government? About a government that deceives about it's accountancy? The Greeks have been living beyond their means, now they pay. We all marvel at how close to the wind other European governments sail when it comes to integrity, but Greek governments are corrupt. Greek people, decent the majority may be, have to pay for their past good life. They may wish to hang some of their leaders till dead, which is good. They have lived a life for years financed by other people's money and the day of reckoning has arrived. Should others make sacrifices for them? No, because the hard lesson must be learned, and it will not be learned if other mugs throw them the money they beg. They must go without. They must impose taxes. They must collect taxes. We have already seen evidence of them trying to wheedle their way out by bargaining with their creditors, but it must not be permitted. They must take responsibility for their past failings, and act responsibly. Any parent knows that if you put cash in the kid's pocket they'll spend it. So stop doing it to Greece. They'll love you for it in the end.
Greek prime minister George Papandreou to resign once coalition deal is struck"
What, again? He must have gone to the Gordon Brown school of politics. They teach you to keep saying the same thing over and over while giving the impression it's all new.
Euribor ha bajado seis centésimas en su cotización diaria hasta situarse en el 2,044%. Esta es su tasa más baja desde principios de abril, después de que el Banco Central Europeo (BCE) decidiera este jueves 3 de noviembre de 2011 rebajar los tipos de interés del 1,5 al 1,25%.
De esta forma, el indicador más utilizado para el cálculo de las hipotecas en España se abarata para acercarse un poco más al precio oficial del dinero en la zona del euro.
El Euribor, que refleja el tipo de interés al que los bancos se prestan dinero en la zona del euro, cerró octubre con una media del 2,11%, su tasa más alta desde julio de este año.
Si el indicador continúa con esta dinámica situaría su tasa mensual en el 2,092%. Eso supondría que una hipoteca media a la que le toque revisión en noviembre se encarecería en torno a los 45 euros mensuales, unos 540 anuales.
Los analistas consultados creen que el Euribor podría seguir bajando ligeramente en las próximas semanas, a la espera de que el nuevo presidente del BCE, el italiano Mario Draghi, se anime a bajar otro cuarto de puntos los tipos de interés en diciembre.
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