Greece agrees €24bn austerity package

[bl33p]

It's an interesting concept that they would default, but not lose the Euro. Nothing wrong with it, in the future risk would be priced in to each nation's Euro bonds very very individually.

Will you take 1% on surefire German bonds, or 7% on Spanish ones?

Not impossible at all, there is only default risk, but no currency risk.

 

[Debaser82]

What's funny is people calling for Greece to be expelled from the Euro because they didnt follow the rules....

If only countries who followed the ground rules agreed upon when the Euro was born were to be allowed to stay inside the monetary union only Luxemburg would apply.

 

[Martinghoul]

I believe that the Euro is a noble idea and I honestly hope that the European community figures out a way to deal with the crisis. To be fair, the issues and problems the crisis had exposed are extremely challenging.

 

[zdreg]

Quote from Martinghoul:

I believe that the Euro is a noble idea and I honestly hope that the European community figures out a way to deal with the crisis. To be fair, the issues and problems the crisis had exposed are extremely challenging.

what does noble have to do with Euro? what does fairness have to do with the reality that Europe has lived beyond its means for decades and it is difficult to finally pay the piper?

 

[Martinghoul]

Quote from zdreg:\
what does noble have to do with Euro? what does fairness have to do with the reality that Europe has lived beyond its means for decades and it is difficult to finally pay the piper?

What, all of Europe has lived beyond its means? The fact that the union has failed to enforce fiscal discipline among some of its members is one of the challenges that will need to be dealt with. As I said, I hope they figure out the solutions to the various practical issues, because, as a concept, the Eurozone is a good and noble one.

 

[morganist]

Quote from Martinghoul:

What, all of Europe has lived beyond its means? The fact that the union has failed to enforce fiscal discipline among some of its members is one of the challenges that will need to be dealt with. As I said, I hope they figure out the solutions to the various practical issues, because, as a concept, the Eurozone is a good and noble one.

It's not viable. I have written a paper on it.

What you are talking about is the SGP. This has failed.

 

[zdreg]

Quote from Martinghoul:

What, all of Europe has lived beyond its means? The fact that the union has failed to enforce fiscal discipline among some of its members is one of the challenges that will need to be dealt with. As I said, I hope they figure out the solutions to the various practical issues, because, as a concept, the Eurozone is a good and noble one.

what does being noble have to do with the euro? Europe has lived beyond its means inc. to some degree Germany.

 

[morganist]

Quote from zdreg:

what does being noble have to do with the euro? Europe has lived beyond its means inc. to some degree Germany.

i agree. but i think he means the unity in relations to politics. unfortuantely the corruption and bad management prevented this.

 

[Ghost of Cutten]

Quote from Ivanovich:

LOL!

Rofl, best front cover in years

 

[ronblack]

Quote from Ghost of Cutten:

Rofl, best front cover in years

What is good about it? I see nothing good but trouble ahead. Americans will go an austerity too soon. Out of this globalization joke, only the Chinese and the Germans have gained. I hate silly arguments about free trade and hypothetical win-win. Just look at who has gotten the surpluses. The Germans setup a little (big) game for them with the odds in their favor called EU and the Chinese took advantage of a political game to rip off Americans and the rest of the world. Rip them off their jobs I mean.

This situation either reverses or will lead to disaster for America.