Message boards :
Politics :
6: Setting Europe Ablaze.....
Message board moderation
Author | Message |
---|---|
Sirius B Send message Joined: 26 Dec 00 Posts: 24879 Credit: 3,081,182 RAC: 7 |
1: The End is Near 2: The End of the Beginning 3: What Next 4: "is missing in cyberspace" 5: Big Bang Looming The torch has been lit.... Well done Cyprus! ECB may cut emergency funding "Germany's opposition Social Democrats, who have long begrudgingly backed Merkel's euro-crisis course, have blasted the chancellor for bungling the Cyprus bailout." "SPD head Sigmar Gabriel told SPIEGEL ONLINE on Tuesday evening. "Angela Merkel has made it possible that a country with fewer inhabitants than (the small German state of) Saarland has plunged the entire euro zone into chaos."" "Gabriel said. "Restoring trust in Europe will be difficult."" "SPD parliamentarian floor leader Frank-Walter Steinmeier joined in on Wednesday morning, although he shied away from frontal attacks on Merkel. "Yesterday evening, the euro crisis returned," he said on public television station ARD. "The chaos is complete."" |
Sirius B Send message Joined: 26 Dec 00 Posts: 24879 Credit: 3,081,182 RAC: 7 |
A banker who gets it..... ..are you listening EU? EU begins its soul searching on Cyprus euronews: “What role will Moscow play from now on?†Athanasios Orphanides: “Russia has a near monopoly, to a large extent, of gas supply to continental Europe and there are significant gas finds in the territorial waters off Cyprus. From an economic perspective the blackmail that European governments have forced on Cyprus is essentially pushing Cyprus to work with Russia and this is going to lead to higher gas prices and tremendous economic cost for Europe. I hope that European leaders can actually meet their responsibilities and find a European solution to this problem before it gets worse.†euronews: “Is this the beginning of the end of eurozone?†Athanasios Orphanides: “I believe that unless European governments reverse the course that was outlined over the weekend, yes it is.†|
Nick Send message Joined: 11 Oct 11 Posts: 4344 Credit: 3,313,107 RAC: 0 |
It's all becoming very interesting in deed. With a rescue package coming from Russia then Cyprus can pack up it's bags and leave the Euro if it wishes too. This currency is most probably too over priced for Cyprus to be competative.... Cyprus, take Russia's money and run; you may not get a second chance. So just you listen to Sirius and me...we have our fingers on the pulse and this pulse is slowly fading away for the ECM with it's misfit Euro. The Kite Fliers -------------------- Kite fliers: An imaginary club of solo members, those who don't yet belong to a formal team so "fly their own kites" - as the saying goes. |
Sirius B Send message Joined: 26 Dec 00 Posts: 24879 Credit: 3,081,182 RAC: 7 |
Merkel angry with Cyprus "We want Cyprus to remain in the euro zone," Merkel emphasized during her meeting with FDP parliamentarians. WHY? "The German government has since admitted that communication was suboptimal at the European level. Had it been better, it is possible that the entire Cypriot drama could have been avoided altogether." So, not Brussels then? End of an Era? Draft deal reached "A source close to the negotiations earlier told the BBC's Mark Lowen in Cyprus that the rescue plans - as they stand - involve splitting Laiki Bank into "good" and "bad" banks. Good assets would be merged with Bank of Cyprus and the toxic assets will stay in Laiki. Administrators will then be appointed to liquidate those assets. The bank will not be closed but will be hugely reduced in size. " So this is being forced on the Cypriot Banks? Tell me Merkel, WHY wasn't this done to the banks that caused this financial mess in the first place? Too big a nation were they for you to dictate to? Germany Exposed "What shocked everyone, not just Cypriots, was the sudden, tactical and coercive manner in which both the IMF and the ECB attacked the incoming Cyprus government. It was the equivalent of the cops breaking down your door at 6am: perfectly legitimate if you have the legal right to do so, but it can seem excessive." "In the end the crisis has exposed two weaknesses of modern German politics: first on economics, they don't seem able to move away from principle-driven action to outcome-driven action. On the bigger geo-diplomacy - driving an EU member state into the arms of the Russians and sending a big sub-textual signal to other states close to Russia - it just begins to look like the Germans cannot do geo-politics." Welcome to the Fourth Reich! |
Nick Send message Joined: 11 Oct 11 Posts: 4344 Credit: 3,313,107 RAC: 0 |
Over many years Britain has been promoting a stronger unified Europe namely because it feels this will keep the peace there. Germany being the stronger and possessing the stronger economy too feels it should therefore be the figure head of this stronger union, so lays down the rules and standards that all member countries should abide by. Unfortunately most if not all other member countries can not function under these rules or even attain the standards that Germany can and the ECM system is not flexible enough to accommodate these mismatches. To survive then the ECM will need to operate under a two tier system of fiscal policy, one for the richer countries and one for the poorer. This naturally would lead to a split ECM and not a unified one, a situation Germany could not accept as this would mean an end to the European super state dream. Where does Europe go from here now that Cyprus is ruined? An ideal hot-bed for antagonist's to flourish within...will Cyprus now become our WWI Serbia? Both Germany and Brussels owe a duty of care to all ECM member countries who were allowed to join even though both knew some of these countries were not fit to be members. The joining just appealed to their super state dream. But rather that shoulder the full responsibility of their actions on taking these lesser countries on board they have cracked a whip across these misfit countries backs. They have said, "I knew you were a naughty boy before I let you in to my sweet shop but now that you have done what I knew you would do and steal some sweets....I'm going to cut off some of your fingers as punishment"!! If the ECM dream is ever going to work then unfortunately for Germany she is going to have to dramatically change her mind-set. Can she do it? dread to think of the outcome if she does not. Will Britain end up regretting ever having promoted this unified Europe in the first place?? Will Britain finally recognise that a unified Europe under the banner of a super state is both foolish and unworkable. To this end will she start the unwinding of this super state by doing the one thing that would start this ball rolling...namely leave the ECM and hope all others shortly follow. The Kite Fliers -------------------- Kite fliers: An imaginary club of solo members, those who don't yet belong to a formal team so "fly their own kites" - as the saying goes. |
Sirius B Send message Joined: 26 Dec 00 Posts: 24879 Credit: 3,081,182 RAC: 7 |
Well we'll find out in September. If the Mekon gets re-elected, she won't give in, which is why I tagged her "The German Maggie". Unfortunately, even though I meant it as a compliment, she just does not have the acumen to achieve what Maggie did. She's too set in her ways & unless she softens up, the EU superstate is dead! |
Sirius B Send message Joined: 26 Dec 00 Posts: 24879 Credit: 3,081,182 RAC: 7 |
Deal reached in eurogroup talks hmmmnnnnn....Yamamoto springs to mind here with his supposed quote: "I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve."...... ...Well the Eurogroup & the rest of the "troika" have upset the Russian Bear.....& for wakening him, its going to cost you plenty! "IMF head Christine Lagarde said the bailout deal agreed was "a comprehensive and credible plan" to help restore trust in the banking system." You think Christine? Are you quite sure? The big investors might trust you, but you've trodden on all the citizens of Europe, you think they'll let this slide? |
Sirius B Send message Joined: 26 Dec 00 Posts: 24879 Credit: 3,081,182 RAC: 7 |
Well they were looking for an excuse & amid all the hulabaloo, they've got it! Well done all the Sir Humphries thoroughout the Eurozone....... Cyprus Bailout: Dijsselbloem remarks alarms markets "The falls came after the head of the Eurogroup of eurozone finance ministers suggested that the Cyprus model, which involves a tax on bank deposits, could form a template in any future bailout." That's number 1 "The new deal for Cyprus, unlike previous agreements, does not require the approval of the Cypriot parliament." That's number 2 Say good bye to your savings & sovereignty...... What next? A one size fits all tax bill for everyone? A future raid on pension funds when all other avenues exhausted? Any objections if all these do come into force, expect a 2am knock on your door! |
Sirius B Send message Joined: 26 Dec 00 Posts: 24879 Credit: 3,081,182 RAC: 7 |
Lessons from Cyprus Part 1 Lessons from Cyprus Part 2 Interesting comment at the end..... "German Chancellor Merkel has likewise not emerged unscathed. In much of Europe, her image is that of an overbearing, heartless know-it-all who cares little for the suffering of average people. And at home, voters were likewise less than impressed. In the most recent public opinion polls, her Christian Democrats have lost two percentage points of support." Over the next 6 months, watch the banks deposits to'ing & fro'ing...... ...which at the end of that period Germany will have a new chancellor! Edit: - I should've done what I usually do when reading Der Spiegel - read it all then note what articles to use.... forgot to do it this time... Europe is right to doubt German Euro leadership I know all about "Godwin's Law", however, I'm not the one invoking it - that privledge is down to a German citizen employed as a journalist on a German news magazine - a magazine famed for its expose's of political scandals & corruption.... "But this means nothing for the present. Just like twice before in our recent history, the Germans are falling deeper and deeper into conflict with their neighbors -- regardless of the cost. It's a path that could easily lead to fear of German political hegemony on the Continent. Indeed, Merkel's idea of European integration is simply that Europe should bend to Germany's political will." Note The color ink is as printed in the article, but had it not been highlighted, I would have done so! |
Sirius B Send message Joined: 26 Dec 00 Posts: 24879 Credit: 3,081,182 RAC: 7 |
We've taken your money & grown fat off the proceeds..... ...we messed up & you're going to save us.... .....you got richer than us, so we're going to hit you with a 40% tax - a one-off atm, but we'll bear it in mind for the future..... ...we don't wanna run out of dosh so.... .....Cyprus to bring in weekly withdrawal curbs What next? Telling us how to spend it? |
James Sotherden Send message Joined: 16 May 99 Posts: 10436 Credit: 110,373,059 RAC: 54 |
I would say the next country wanting a bailout will think twice. Seems the condition of terms is raising rather abruptly. @Chris thanks for the Euro lesson. And nice post at Last Gasp. [/quote] Old James |
Sirius B Send message Joined: 26 Dec 00 Posts: 24879 Credit: 3,081,182 RAC: 7 |
|
betreger Send message Joined: 29 Jun 99 Posts: 11361 Credit: 29,581,041 RAC: 66 |
On the surface of it, this makes economic sense. |
Terror Australis Send message Joined: 14 Feb 04 Posts: 1817 Credit: 262,693,308 RAC: 44 |
|
Gary Charpentier Send message Joined: 25 Dec 00 Posts: 30673 Credit: 53,134,872 RAC: 32 |
The rot isn't stopping yet Why would you expect it to stop? Is there an effective government in Brussels that regulates banks? |
Nick Send message Joined: 11 Oct 11 Posts: 4344 Credit: 3,313,107 RAC: 0 |
Something for the Eurozone to think about? Brussels and the ECB won't like the UK's currency swaps deal with China nor us also becoming the major western hub for the Renminbi. I bet Brussels is going to break it's back in getting full control of the City of London....Cameron is most probably dumb enough to let them take control, he still fails to show any recognition yet that the game for the ECM is coming to and end. He should be taking protective measure for this eventuality.....but he's not. I feel that if the Euro M.P. elections go bad for the three main parties next year then we will surely see some desperate actions coming from the Cons. I have an idea as to what they will be mustering come the elections in 2015 for I suspect they will be forced into it come what may. The Kite Fliers -------------------- Kite fliers: An imaginary club of solo members, those who don't yet belong to a formal team so "fly their own kites" - as the saying goes. |
Nick Send message Joined: 11 Oct 11 Posts: 4344 Credit: 3,313,107 RAC: 0 |
The rot isn't stopping yet This is all because we are in a depression and have been since 2008. Governments have managed to cover this up with QE but they can't keep covering it for ever. The cracks are beginning to show, first the minnows fall then too be followed by the majors. The Kite Fliers -------------------- Kite fliers: An imaginary club of solo members, those who don't yet belong to a formal team so "fly their own kites" - as the saying goes. |
Nick Send message Joined: 11 Oct 11 Posts: 4344 Credit: 3,313,107 RAC: 0 |
The rot isn't stopping yet No there is no effective government in Brussels for if there was they would have cancelled the Euro and put everyone back onto their old currencies again. The Kite Fliers -------------------- Kite fliers: An imaginary club of solo members, those who don't yet belong to a formal team so "fly their own kites" - as the saying goes. |
Terror Australis Send message Joined: 14 Feb 04 Posts: 1817 Credit: 262,693,308 RAC: 44 |
Alan Kohler, one of Australia's most respected financial commentators asks, Is the cat out of the bag on euro debt solutions? @Gary. No expectations at all, just listing the next possible domino. T.A. |
Gary Charpentier Send message Joined: 25 Dec 00 Posts: 30673 Credit: 53,134,872 RAC: 32 |
Something for the Eurozone to think about? But it can and there is an example, however it appears as if Europeans don't want it to. |
©2024 University of California
SETI@home and Astropulse are funded by grants from the National Science Foundation, NASA, and donations from SETI@home volunteers. AstroPulse is funded in part by the NSF through grant AST-0307956.