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The Euro crisis
Comments
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so the banks will take a haircut and central banks will help banks rebuid the bank's balance sheets- sounds like the tax payer is in the barber's chair!mfw'11 No68- 55k mortgage İO--little to nothing saved! i must do better.0
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The banks will get another bail out and so the insolvency will reach wider once again.
So, for short term reprieve we are likely to have an ever greater problem further down the line. Who pays for these bailouts - the taxpayer? If so, surely the taxpayer is going to revolt at some point?0 -
the tax payer's will revolt as they 'vote-out the current leaderships of their respective countries BUT the new encumbents will just shrug their shoulders and say the mess the EU is in wasnt of their making!--it wont pay the sovereign debt!mfw'11 No68- 55k mortgage İO--little to nothing saved! i must do better.0
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MK said earlier in the week that anything that was sorted out at this summit would only buy the EU more time, possibly up to 2 years but it would not solve the underlying problems. Looks like he was right.[FONT="]“I've learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.” ~ Maya Angelou[/FONT][FONT="][/FONT]0
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The banks will get another bail out and so the insolvency will reach wider once again.
Have I got this right then?
In simple terms, is sounds as if..
Greece gets a bailout. It's not enough, so they have to invent a bigger bailout. This bailout has the possibility of taking out the banks, so the banks get a bailout.
All the time, none of the problems are actually solved, so we will need further money, in say 6-12 months, and possibly further bailouts?
Who is actually picking up the tab? All this money seems to seemingly arrive from nowhere. We could have eradicated poverty in Africa ten times over by now.0 -
Graham_Devon wrote: »Who is actually picking up the tab? All this money seems to seemingly arrive from nowhere. We could have eradicated poverty in Africa ten times over by now.
The taxpayer will be the ultimate backstop, as always! You, me, your children, their children...........There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...0 -
The only real answer is for armies of blond blue-eyed Germans to head south and impregnate all those Mediterranean women with good German children. Because until the Germans convert all of Europe into Greater Germany, the rest of it will never cope with German ideas on how to run the euro."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0
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worldtraveller wrote: »The taxpayer will be the ultimate backstop, as always! You, me, your children, their children...........
So literally, the minions get poorer to protect the wealthy? As in quite literally, this is a fantastic display of such a scenario?0 -
The only real answer is for armies of blond blue-eyed Germans to head south and impregnate all those Mediterranean women with good German children. Because until the Germans convert all of Europe into Greater Germany, the rest of it will never cope with German ideas on how to run the euro.
Actually, that's not such a bad idea. The Germans have a good quality of life and work hard. They seem to have the right balance of a capitalist/socialist society (from what I have seen being a regular visitor to Germany with many relatives there).0 -
i think in the breathing time this bailout has bought there will be tighter fiscal 'bonding' in the EU which will mean the Germans will run the eurozone and the euro on its terms!mfw'11 No68- 55k mortgage İO--little to nothing saved! i must do better.0
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