Central Scrutinizer Posted November 22, 2011 Report Share Posted November 22, 2011 I just want this crap to be sorted, once and for all. The same banks that don't want to accept defaults on 50% of Greek debt wont be any happier if this drags on for another 12 months and that figure is closer to 100%. I'd say the west (US, UK and Europe) need to do whatever the Thais are doing to the baht. Their fucking currency seems unsinkable of late, no matter what happens in the country or the world the baht just stays strong and stable. Link to comment Share on other sites More sharing options...
Steve Posted November 22, 2011 Report Share Posted November 22, 2011 The banter between the Brits and German on this thread is funny...sorry. To be fair to the Germans, they are essentially being asked to be the guarantor of the EU and its the Germans that will bore the majority of the weight of any bailout plan. Kamui or others may be able to confirm or correct what I've 'heard' but the German government wants to help but the German people don't, is that so? Not that the German government is keen about it but they are facing the economic realities of the euro and know something drastic has to be done but the people know it will be on their backs and are not comfortable with paying the price for another country's failures. Is that right? Or is it wrong? My guess and this may step on toes, but Germany and France wants the UK in the Euro to make it stronger for one. With the UK on board its a super currency. Second, it will take some of the burden of their economies when there is a Greece, Italy or Spain economic issue. Just my guess. I can understand Brits avoiding joining. Reminds me a bit of Americans, Fiercely independent and clinging on to a history of pride and accomplishment. Lots of similarities between the two respective countries. Also, I will say that the Germans that came after the wars have had to suffer for the 'sins of their fathers' so to speak. Very nice people whenever I've met them. They have a pacifist nature but still see the orderly, prussian like efficiency in them as well. I'm sure they must tire of having their history thrown at them. Similarly possibly with southern Americans with regards to the Civl War. Link to comment Share on other sites More sharing options...
gobbledonk Posted November 22, 2011 Report Share Posted November 22, 2011 I thought it was the French banks who held most of the 'toxic debt' ? Still, the collapse of the French banking system wouldn't be much fun either. Not sure how this has happened - didn't France and Germany both come out of WWII battered and bruised and in need of massive rebuilding efforts ? And when did they become Islamist states ? Link to comment Share on other sites More sharing options...
Steve Posted November 22, 2011 Report Share Posted November 22, 2011 The French hold the debt? However, are the Germans the ones that have to do most of the 'heavy lifting' and bail everyone out? Not by themselves but a very good portion of it. Link to comment Share on other sites More sharing options...
kamui Posted November 22, 2011 Report Share Posted November 22, 2011 The banter between the Brits and German on this thread is funny...sorry. To be fair to the Germans, they are essentially being asked to be the guarantor of the EU and its the Germans that will bore the majority of the weight of any bailout plan. Kamui or others may be able to confirm or correct what I've 'heard' but the German government wants to help but the German people don't, is that so? Not that the German government is keen about it but they are facing the economic realities of the euro and know something drastic has to be done but the people know it will be on their backs and are not comfortable with paying the price for another country's failures. Is that right? Or is it wrong? My guess and this may step on toes, but Germany and France wants the UK in the Euro to make it stronger for one. With the UK on board its a super currency. Second, it will take some of the burden of their economies when there is a Greece, Italy or Spain economic issue. Just my guess. I can understand Brits avoiding joining. Reminds me a bit of Americans, Fiercely independent and clinging on to a history of pride and accomplishment. Lots of similarities between the two respective countries. Also, I will say that the Germans that came after the wars have had to suffer for the 'sins of their fathers' so to speak. Very nice people whenever I've met them. They have a pacifist nature but still see the orderly, prussian like efficiency in them as well. I'm sure they must tire of having their history thrown at them. Similarly possibly with southern Americans with regards to the Civl War. The Germans population of course is not happy that our hard earned money is going to spend to bail out the Greek government and Greek banks. This summer German media published a lot of stories about the "lazy" Greeks (did you know that a Greek government workers receive a bonus when they arrive at work on time?). But since Germany is doing well at the moment there aren't real protests against it. This might change, when German workers will have less money in their pockets. Very much contrary to the USA where ideology trumps at elections - US voter: "it doesn't matter that I am becoming more poor every year, as long as the government is against abortions", German voter: "I appreciate that that you (the current government) are against abortions, but this year I have less money in my pocket, therefore you are out". Link to comment Share on other sites More sharing options...
kamui Posted November 22, 2011 Report Share Posted November 22, 2011 The French hold the debt? However, are the Germans the ones that have to do most of the 'heavy lifting' and bail everyone out? Not by themselves but a very good portion of it. French banks did some really bad investments and some of them are in big trouble now. Some of the German banks are in trouble as well, but they seem to be more stable and better financed. Anyway France is on the brink of being downgrades by S&P and others, which of course would worsen the situation in Europe. It seems that now Hedge fonds are betting against any EU country which shows the slightest sign of weakness, they are even betting against absolutely stable countries like Austria. The sharks are tasting blood. By the way, in the recent negotiations about the bailout of Greece and other countries, the other countries tried to sneak in some rules which would force Germany to pay an even larger share, if the situation in Europe becomes worse. Since the foundation of the EU Germany always paid the largest share anyway. But not that the Germans complained, since the other EU countries, including Greece, were and are all buyers of German products. Link to comment Share on other sites More sharing options...
Steve Posted November 24, 2011 Report Share Posted November 24, 2011 I didn't want to start a new thread and at the risk of hiacking this one (my apologies if it apears so), this map says that western europe has become 'blue states', more consevative. Which is a relative term. http://www.guardian.co.uk/world/interactive/2011/jul/28/europe-politics-interactive-map-left-right Link to comment Share on other sites More sharing options...
kamui Posted November 25, 2011 Report Share Posted November 25, 2011 I didn't want to start a new thread and at the risk of hiacking this one (my apologies if it apears so), this map says that western europe has become 'blue states', more consevative. Which is a relative term. http://www.guardian....-map-left-right Conservative in Europe is like the conservative Dems in the USA. Conserviative in the USA is like right wing fringe groups in Europe (christian fundamentalist crazies, e.g.) Link to comment Share on other sites More sharing options...
Dexi Posted November 25, 2011 Report Share Posted November 25, 2011 With bond yields for Italy, Spain and now even Germany rising and stock markets falling,it will be interesting to see how long the euro leaders will continue to argue and do nothing constructive to solve the problem. Link to comment Share on other sites More sharing options...
cavanami Posted November 26, 2011 Report Share Posted November 26, 2011 Germans Try To Kill Off Pound...the Brits are doing a good job on their own Link to comment Share on other sites More sharing options...
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