When will the polititians realize that tying disparate countries to one exchange
rate simply makes no sense?... How can Greece share a currency and monetary
framework with Germany? A totally idiotic concept. The Euro is the PROBLEM
!!! A single currency cannot provide a solution. The eurozone was dealt a
fresh blow as Moody’s Investors Service downgraded the region’s rescue funds and
unemployment hit a new record high. The ratings agency cut its rating on the
European Stability Mechanism to AA1 from AAA and maintained a negative outlook.
It also lowered the European Financial Stability Facility’s provisional rating
to (P)AA1 from (P)AAA. Moody’s said its decision was driven by its recent
downgrade of France, because the credit risk and ratings of the rescue funds
were “closely aligned to those of its strongest supporters” ...Klaus Regling,
managing director of the ESM and chief executive of EFSF, said Moody’s decision
was “difficult to understand.” He added: “We disagree with the rating agency’s
approach which does not sufficiently acknowledge ESM’s exceptionally strong
institutional framework, political commitment and capital structure.” It came
as the EU’s statistics office said eurozone unemployment rose to 11.7pc in
October from 11.6pc in September.... Have idiotic and arrogant politicians
worldwide not realised that ideological half ars.ed constructions like the EU
and the EZ always fail ? Are we really surprised that it was Europe with its
history of fascism, communism, military dictatorship and undemocratic statist
and authoritarian governments which has given birth to two of the most appalling
and undemocratic constructions of the 20th century, the EU and the EZ ? They
will fail just like the USSR failed. "Klaus Regling, managing director of the
ESM and chief executive of EFSF said: Moody’s decision was “difficult to
understand.” They should get someone with more understanding. I wonder what he
gets paid for having so little of the stuff? 150,000€ a year?.... Well, I must
write to the EU and tell them that my 90 year-old Gran is currently available.
She used to run a market stall and so understands economics. Sadly, she is now
showing signs of senile dementia, but even so, it must be worth a go compared to
the current lot.
Access Investments-Building Awareness - European Union-ROMANIA
Tuesday, December 4, 2012
Tying disparate countries to one exchange rate simply makes no sense
When will the polititians realize that tying disparate countries to one exchange
rate simply makes no sense?... How can Greece share a currency and monetary
framework with Germany? A totally idiotic concept. The Euro is the PROBLEM
!!! A single currency cannot provide a solution. The eurozone was dealt a
fresh blow as Moody’s Investors Service downgraded the region’s rescue funds and
unemployment hit a new record high. The ratings agency cut its rating on the
European Stability Mechanism to AA1 from AAA and maintained a negative outlook.
It also lowered the European Financial Stability Facility’s provisional rating
to (P)AA1 from (P)AAA. Moody’s said its decision was driven by its recent
downgrade of France, because the credit risk and ratings of the rescue funds
were “closely aligned to those of its strongest supporters” ...Klaus Regling,
managing director of the ESM and chief executive of EFSF, said Moody’s decision
was “difficult to understand.” He added: “We disagree with the rating agency’s
approach which does not sufficiently acknowledge ESM’s exceptionally strong
institutional framework, political commitment and capital structure.” It came
as the EU’s statistics office said eurozone unemployment rose to 11.7pc in
October from 11.6pc in September.... Have idiotic and arrogant politicians
worldwide not realised that ideological half ars.ed constructions like the EU
and the EZ always fail ? Are we really surprised that it was Europe with its
history of fascism, communism, military dictatorship and undemocratic statist
and authoritarian governments which has given birth to two of the most appalling
and undemocratic constructions of the 20th century, the EU and the EZ ? They
will fail just like the USSR failed. "Klaus Regling, managing director of the
ESM and chief executive of EFSF said: Moody’s decision was “difficult to
understand.” They should get someone with more understanding. I wonder what he
gets paid for having so little of the stuff? 150,000€ a year?.... Well, I must
write to the EU and tell them that my 90 year-old Gran is currently available.
She used to run a market stall and so understands economics. Sadly, she is now
showing signs of senile dementia, but even so, it must be worth a go compared to
the current lot.
Subscribe to:
Post Comments (Atom)
5 comments:
Andy Haldane, the Bank’s executive director for financial stability, added that public anger at the banks was fully justified and that pay in the industry remained too high.
“In terms of the loss of incomes and outputs, this is as bad as a world war,” he said. “It would be astonishing if people weren’t asking big questions about where finance has gone wrong.
“If we are fortunate, the cost of the crisis will be paid for by our children. More likely it will still be being paid for by our grandchildren. There is every reason why the general public ought to be deeply upset by what has happened – and angry.”
Four years since the crisis struck, the economy is still 3pc smaller than at its peak. The scale of the problems will be exposed again on Wednesday when the Chancellor updates the country on the economic outlook and his austerity plans.
To boost “growth, job creation, exports, investment, and business confidence”, George Osborne needs to be “bold” in his mini-Budget, the British Chambers of Commerce said as it downgraded its growth forecasts for next year and 2014.
The root of the problem is the peaking of conventional (affordable) global oil production in 2006 and the sustained high price of oil now that production cannot keep pace with a growing global economy. This has led to higher energy costs and has all but stopped economic growth around the globe. The symptoms are manifest in systemic failure of financial investments reliant on growth (and increased energy consumption) to return a profit. The failure of the sub-prime market in the US, triggered by mortgage default after the increase in fuel prices was just the start. The EURO crisis is from the same family. Nations borrowed on the assumption that continuous growth would enable debt to be repaid easily. The banking industry, who thought they were masters of the universe, have come unstuck by the lack of growth which caused defaults on loans. I don't believe the banks are the cause: They were looking backwards at their profits and just didn't see peak oil and the end of economic growth based on endless cheap oil coming! Sadly we are now facing continuous decline in conventional oil production. The crisis has barely begun!
Double R&D investment in hi-tec and industry. Double transport infrastructure spending. Renationalise therailways. Embark on a massive programme of housebuilding and expansion of available council housing. Create a truly federal government with regions given tax-varying powers and control over education. Let Wales and Scotland go their own way. Create a written constitution with a proper bill of rights. Abolish the monarchy and replace with a democratically-elected head of state. Introduce a strict skills-based point system for immigration.
I just like the valuable info you provide on your articles.
I'll bookmark your weblog and check once more here frequently. I am relatively sure I will learn many new stuff proper here! Best of luck for the next!
Also visit my weblog ; teens fucking
This is really attention-grabbing, You are a very skilled blogger.
I have joined your feed and stay up for in the hunt for extra
of your magnificent post. Also, I've shared your site in my social networks
Here is my webpage :: what Is the best acne treatment over the counter
Post a Comment