Europe

[YMix]

Half an hour ago, a man threw himself from the balcony of the Romanian Parliament, down into the hall where the two Chambers had met to discuss the motion of censure filed by the opposition parties. The man shouted to the Prime Minister "You took our wages and pensions!" and... sort of jumped.

[Endovelico]

[Colonel Sun]

[Alexis]

As we enter a new Year, no doubt marked by new and worse Sovereign debt woes, the broad features of a solution to the European crisis now appear quite clearly. They will not fail to be implemented, no matter whether through coordinated and organized action, or more probably by the mere flow of consequences from causes (that second option admittedly far messier...)

So we should be optimistic after all.

- Banks will get haircuts. The kind of haircuts that top many a head...

- Savings will be accordingly much damaged, sadly. Fortunately, the parasitic financial upper-class will also be slaughtered in the process.

- Public debts will as a result have been axed.

- New currencies (probably national ones) will be started in place of the failed Euro system.

- Pension systems will be balanced through increase of retirement age. Increases of the "savage" variety...

Then, once the playing field has been cleansed of the corpses of all the dreams of the "Baby Boomer" generation, the way will be clear for the new generation to work & rebuild & prosper & raise (many) children !



So here's to the Cleaner, may his work be swift! Happy New Year to all!

[Hans Bulvai]

http://www.independent.co.uk/news/world ... 81131.html

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[YMix]

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[Rhapsody]

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[Alexis]

[Endovelico]

I have said this before, but let's have another go at it...

Southern countries indebtedness is due to trade deficits, not budget deficits. If those countries had a balanced trade their debt would stop growing and could start decreasing. That would imply limiting, by law, the value of imports to the value of exports. Since most those countries are not underdeveloped third world countries, this would mean less non-essential imports but no shortage of essential goods. Such a limit would, in addition to a debt stop, encourage increased local production to make up at least part of the shortfall in imports. After a sharp but short recession, those economies would start growing again.

This solution doesn't appeal to surplus countries because it would cut down on that surplus. But I don't think that we have to ask their permission to implement it. Also splitting up the euro zone in two - North, with the euro, and South with a new common currency (denario?) - allowing for a controlled devaluation of the South's currency, would foster competitiveness and speed up recovery. Once more, the North would lose something, but that's life. After all, the North has over the years gained immensely from the Union so they can afford giving something back.

The alternative is, obviously, defaulting on sovereign debt, which would be a hell of a lot more painful to Germany and others.

[Caskhades]

It's an interesting situation.

In terms of share ownership the Anglo system is dominated by institutional investors (such as your pension fund), whose ultimate owners are the American people. Still the big banks hold the USGov by the balls.

Imagine how much more fun it is in Germany, where everything is ultimately owned by a handful of large banks, who interestingly enough own each other in a weird snake eating its tail kind of way. Adding to that, Merkel is a woman.

[Hans Bulvai]

Despite the loooong dreary winter. Gotta respect that.

http://travel.yahoo.com/p-interests-37522775

[Torchwood]

[Rhapsody]

[Endovelico]

[Rhapsody]

[noddy]

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