No, not Swiss, Austrian. Headquarters are in Fuschl am See.
Something Has Snapped in Italy’s Stormy Relationship With Europe
- Thread starter themickey
- Start date
No, not Swiss, Austrian. Headquarters are in Fuschl am See.
Without a Eurobond the EU monetary union is incomplete. The EU bond is sorely needed. The Germans have been the stumbling block. In reality the ECB could print Euros and give them to Italy. That is what they should actually do in this crisis. Few will understand that, or the consequences of doing it, or not doing it. Every euro spent in deficit does not have to be tied to a bond. In some respects however it is best to tie deficits to bonds.
The euro countries should never have agreed to join a monetary union without also agreeing to a common bond. But that is retrospective thinking. What's done is done.
The euro countries should never have agreed to join a monetary union without also agreeing to a common bond. But that is retrospective thinking. What's done is done.
The strong EU economies don't need Eurobonds at all. They have no financial advantage of that. Germany can attract money at a much lower interest rate than Italy. Only weak economies like Italy have an advantage. They have to pay a lot higher interest rate if they want to finance their budget deficit (deficit that is much higher than allowed by the EU). Eurobonds would make it easier for Italy to continue to dig a bigger budget deficit hole. Eurobonds should only exist for members that apply the EU rules correctly, not for members that show their middle finger to the EU.
Eurobonds is a kind of financial solidarity. But solidarity does not mean that some members abuse that system to let others pay the bill. Only in socialistic systems others should pay the bills in "solidarity".
Logical that Germany is not for the Eurobonds as they will be one of members who will pay the bill. Italy should be at least be forced to follow the EU rules before any Eurobonds can be created.
And who raised China out of its misery when some 20 million of its people were dying left and right from their failed cultural revolution? Uncle Sam. Well, who would have thought the bastards would bite the hands that fed them.
It was created by politicians for politicians.
A big number of well paid jobs in politics where created and takene by friends of...
And who raised China out of its misery when some 20 million of its people were dying left and right from their failed cultural revolution? Uncle Sam. Well, who would have thought the bastards would bite the hands that fed them.
Your friends from today can be your enemies from tomorrow.
%%And who raised China out of its misery when some 20 million of its people were dying left and right from their failed cultural revolution? Uncle Sam. Well, who would have thought the bastards would bite the hands that fed them.
LOL Who would have thought the chicoms would be chicoms LOL??
I disagree with, obviously.
I think that's what you really meant. However Germany is being myoptic in their view. They haven't yet realized that it is not in their long range interest if their neighbors economies struggle. They have to sell their products, and Portugal, Spain, and Italy are all close by. I don't think they want the PIGs buying from China in preference to Germany. You can't expect cooperation if you don't cooperate.