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the EURO is dead

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the EURO is dead

Postby JimboPSM » July 14, 2011, 6:10 pm

The biggest vulnerability / problem with the Eurozone is that, although there is “monetary union”, there is not much of a “political union”; it is claimed by many Eurozone detractors that without “political union” that the Eurozone cannot work.

In my opinion it can work, but it requires hard work and a continual willingness to negotiate and compromise to deal with all the banana skins that a union of such disparate nationalities inevitably produces (not exactly the easiest thing in the world when you consider it has to encompass the egos of all the politicians involved).

A full “political union” is more likely to create further divides as (for it to succeed) it requires a degree of ceding of political sovereignty which will raise the nationalistic hackles of political opportunists and agitators in many of the member countries.

The problems that the lack of “political union” can bring clearly be seen when one contrasts the Eurozone with how well its main comparably sized competitor, the USA, works in facing up to its own fiscal problems.

Over the last few months as the US approaches its debt ceiling; the GOP and the Democrats (in the House and Senate) along with the White House have been striving tirelessly and selflessly to negotiate and compromise, willingly putting all their respective sacred cows on the table for the betterment of the country as a whole rather than seeking a political advantage for their own party..........


Hmmm...... actually, when you think rather more deeply about it, the problems of the Eurozone don’t really seem all that badl :-k :shock: :lol:
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the EURO is dead

Postby old-timer » July 15, 2011, 8:38 pm

JimboPSM wrote:Hmmm...... actually, when you think rather more deeply about it, the problems of the Eurozone don’t really seem all that badl :-k :shock: :lol:


What a load of rubbish. No currency in history has survived without a central government to support it. The Euro has already failed and is causing economic mayhem in Ireland and Spain, among other countries which the ERM had caused in Britain. Interest rates were too low during an economic boom, stoking up a huge property bubble - and now interest rates, and the currency rates, and the currency itself, are too high for economic conditions.
The surprising aspect of the euro is that it was an invention of what the French call "les enarques": intellectuals from great universities who presumably felt that they could invent a new type of economic system in defiance of history.

Divs in OTs opinion.

OT............ \:D/
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the EURO is dead

Postby jackspratt » July 15, 2011, 9:24 pm

old-timer wrote:
JimboPSM wrote:Hmmm...... actually, when you think rather more deeply about it, the problems of the Eurozone don’t really seem all that badl :-k :shock: :lol:


What a load of rubbish. No currency in history has survived without a central government to support it. The Euro has already failed and is causing economic mayhem in Ireland and Spain, among other countries which the ERM had caused in Britain. Interest rates were too low during an economic boom, stoking up a huge property bubble - and now interest rates, and the currency rates, and the currency itself, are too high for economic conditions.
The surprising aspect of the euro is that it was an invention of what the French call "les enarques": intellectuals from great universities who presumably felt that they could invent a new type of economic system in defiance of history.

Divs in OTs opinion.

OT............ \:D/


Hardly your opinion OT. :shock:

Perhaps some credit is due to Alfred. =D>

http://alfredtheordinary.co.uk/index.php?itemid=190
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the EURO is dead

Postby old-timer » July 15, 2011, 9:34 pm

[quote="jackspratt"]

Hardly your opinion OT. :shock:

Perhaps some credit is due to Alfred. =D>

Just agreeing JS, no need to rip apart every post. Information comes from somewhere or other, except when OT starts daydreaming, then we are in no man's land. I'll get back to daydreaming - you can't act so useless then.
OT............. \:D/
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the EURO is dead

Postby jackspratt » July 15, 2011, 9:41 pm

Dream on OT ................. hopefully your own dreams, not someone else's. \:D/
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the EURO is dead

Postby halleej » July 15, 2011, 10:45 pm

Euro Dead???
The US Dollar is dead for quite a while, US and the rest of the world is not yet aware of it.
Now they want to change the law to get in even deeper ****.
Come on guys wake up: 14.000.000.000.000 dollars in debt.
http://www.usdebtclock.org/
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the EURO is dead

Postby arjay » July 16, 2011, 9:23 am

Halleej, this thread is about the Euro.

There is a separate one about the dollar's (demise):

post268848.html#p268848
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