EU President.. "EU Eurozone will bail out Greece"

EU President.. "EU Eurozone will bail out Greece"

euobserver.com

A bailout for Greece will be available if needed.

The announcement is designed to calm market jitters that have recently wreaked havoc on stocks and bonds in a number of weaker peripheral eurozone members.

(visit the link for the full news article)

This isn't actually even legal yet in the EU?? The will have to change legislation to suit this.. and because of the Lisbon treaty and the fact that the EU is now a federal government, the people don't get a real say.

On one hand, its good to see the solidarity and how the EU is weathering the storm, the solidarity in the creation of the EU superstate.. And that the EURO will definitely survive this..

On the other hand, we are all still our separate countries to a large extent and relying on France and Germany to bail out smaller country's is a bit unfair.

Also being from Ireland, we had to make massive massive sacrifices to get our books in order.. And now because the Greeks are unable to do so, they may be getting bailed out?? Its a bit unfair also.

Then there is the whole issue of economic regulation.. If the EU passes legislation for bailing out states, that means massive new powers for the new post Lisbon federal government in regulating the micro economies of all states inside the EUROZONE, which really means the German-ificataion and France-ification of the rest of the EUROZONE.

euobserver.com
(visit the link for the full news article)

The best thing about this is that the greedy hedge fund bosses, who banking on the euro tanking have lost millions. I dont understand why these hedge funds exist, gambling that the euro goes down and reaping the rewards. If our society is gonna operate like this there is no hope.

Originally posted by Dermo


Then there is the whole issue of economic regulation.. If the EU passes legislation for bailing out states, that means massive new powers for the new post Lisbon federal government in regulating the micro economies of all states inside the EUROZONE, which really means the German-ificataion and France-ification of the rest of the EUROZONE.

euobserver.com
(visit the link for the full news article)

Which is what the whole EU is all about anyway.
Always has been.
In the UK, we fought Napoleon, The Kaiser & then Hitler to prevent being ruled from europe & now an unelected scotsman has given it all away.

As far as what is fair goes, since when has that ever worried the left?
The EU stinks.

Way to go! Just wait till the very last second to announce the bailout while the world markets threaten to tumble.

I guess his insider buddies wanted to buy up some of the reduced price stocks before the bailout was announced.

reply to post by woodwardjnr


That is good to see actually, there has been a lot of testing of Greece and the EUROZONE by the speculative market.. Ich hasse diese sache mit Anglo Saxon Capitalism.

Speculating the markets are a devious way to make a profit, its wrong IMO..

I prefer the overall economic freedom of the Anglo Saxon Model but the more regulation in the financial markets similar to the Continental style the better IMO. If even just for the moral aspects of not making such easy money from others misfortune..

Not true, however.

EU meeting ended a little while ago without any bailout announcement, just that the EU told greece to handle their problem.

No bailout or economic support was promised according to the report on CNBC a few minutes ago.

reply to post by apacheman


Eh? This is an official EU statement made by the President of the EU..

Your source is wrong lol.

Because of Greece, the EURO has almost collapsed against the dollar in the past two months..

[atsimg]http://files.abovetopsecret.com/images/member/de5a4de13802.jpg[/atsimg]

There is a silver lining with the devaluations of both the Dollar and the EURO, the Yuan will be less competitive and EU/US exports will be cheaper which will help the rebound slightly.

reply to post by neil wilkes


You are spot on. The whole creation of the EU was to create hegemony for Germany and France. The nations of southern Europe were anxious to play with the big boys that they joined up at the earliest opportunity.

Next stop, Portugal, Spain and Ireland. These countries are going to have so much debt obligation to the larger states they will be under their thumbs for ever.

There is no way to break up the EU now, if there ever was one that was practical. Greece now = Germany and France

How do you want to bail out Greece ?

Solution 1 :
- "OK Mr Greek, so this is a Big Coin Euro Card, so do what you want to save your country from hedge funds, collapse, starvation and what you want... Our people are going to pay for all you past expenses..."
I will be very happy if I was greek but if I'm not, I'm not going to pay for their government's mistakes...

Solution 2 :
- "OK Mr Greek, so you're not part anymore of the European monetary union. So we are going to take all your euros and give you some dollars/yuan/fantasy money in exchange... I know it will be hard for you, but in the future just think that you will have to cut salary and starve your people if you want to be back in the European Monetary Union"
Very sad for greek people who had to change their currency, starve when hedge funds are going to suck their blood, until they see a new prey : Spain or Portugal...

Hard to know what's the best choice.

I guess we need a "Big ONE", just the last collapse. Reconstruction will be a great time. Or maybe governments will have the balls to say "no more central bank, we want to manage our money, go out banksters !".

Banks are usefull when it's for production and real economy, not only for financial profit use...
(I was a banker... so I know).

Here's something interesting, it's Ron Paul's comments on Greece and even the FED's possible involvement with Greece!


Perhaps Greece is a picture of what is to come.

Things are really complicated for Greece right now

The EU feels very similar to the old USSR. Personally I think it sucks that some person in Country A's tax dollars are being used to rectify the economic mismanagement of Country B's. When a person pays taxes and rates, they do so to improve their own community... not prop up a welfare state. It's a slippery slope and It's all rather unsettling!

However, if the bail-out money was used as a loan only, which must be payed back, then I have no problem with it.

IRM

I live in Greece since childhood, i love this country and the latest developments here make me very worried and angry.

Read the following article in relation to this:
Greece is NWO Test Ground, Says Greek Reader

Ko3

reply to post by InfaRedMan


This is why the European union will never work. You have the hard working countries and you have lazy countries. It is a recipe for disaster on a epic scale. I think they actually did it to collapse the strong counties and make way for something new. I may be wrong but why else would you let immigrants flood into your country and then let them call the shots?

Originally posted by Subjective Truth
reply to post by InfaRedMan

 

This is why the European union will never work. You have the hard working countries and you have lazy countries. It is a recipe for disaster on a epic scale. I think they actually did it to collapse the strong counties and make way for something new. I may be wrong but why else would you let immigrants flood into your country and then let them call the shots?

What an utter ignorance again. As if all American states are equally productive. California and Texas could also call Dakota and Wyoming ''lazy''. A chain is only as strong as its weakest link. That doesn't apply only for the EU. You continue spewing ignorant rhetoric, aren't you? As if the US doesn't have an immigration problem, you better be worried about the flood waves of Spanish speaking immigrants.

Although Greece should pay the cost for this economic issue themselves, we should be there to support them if necessary. That's how you prevent wars from happening and how you build a constructive partnership that minimizes the chance of (civil) wars.

[edit on 12-2-2010 by Mdv2]

Now this is where I get confused.. who is actually paying for this?? Are France and Germany increasing their payments to cover this bailout??

If not, is the funds being raised against the net contributors to the European Union??

If this is so, then the UK along with other Net contributing countries will be paying for this bailout alongside France and Germany..

(not that I have a problem with bailing out Greece, however if it is our money, and that of other net contributors we should be part of the process)

It would be good if someone could explain to me how these bailout funds are being raised because I find it confusing to say the least?

I dislike the direction the EU has taken over the past 15 years.

It was a 'bad day for democracy' as William Hauge put it when the Lisbon Treaty got through.

For the past 400 years Britain has played a watchdog role in monitoring and fighting against unbalanced power in Europe. Spain, France and Germany, they wanted empire like we eventually achieved. People often forget we started out as a poor, broke underdog when the Spanish Armada was sent to England.

Now it seems like the schemers across the channel have succeeded in conquering Europe with precise and deadly pen attacks on innocently blank pieces of paper.

I'm not blind though. Like I said I dislike the EU but Europe has a tendency to randomly explode in to a War. History always repeats itself and when the EU goes ahead and creates an EU army, well European inter-conflict is one area I won't have to worry about as much.

The EU's economical model is really wobbly at the moment as you can see in Greece but it is a fairly new model of system. This catastrophe in Greece will be studied by those deadly pen pushers in Brussels and some draft legislation will be penned up and put in to effect to try and prevent a future
re-occurrence. Trial and error, only with billions of Euro's, thousands of jobs and families.

So at the end, yes the EU pisses me off sometimes but it does have some benefits. Then to top it all of, I don't feel completely conquered since English is the international language of the world and the folks over the channel have to engage in speaking my language once in a while

reply to post by thoughtsfull


France is not much of a net contributor. The Netherlands, Denmark, Sweden, Germany and Austria make up the top five net contributors per capita. However, to answer your question, the EU has unanimously decided not to bear the financial burden of Greece unless they are at the verge of collapsing. Its their problem, they deemed it necessary to lie to EU and should also take responsibility for their actions. If the EU would literally bail them out, other countries with similar problems wouldn't worry much either. After all, they could count on the EU to bail them out of their problems. That's not a wishful tendency and should be prevented from arising. The Greek people are going to experience the consequences from their corrupt and ineffective leadership, which is not nice but inevitable. I personally feel that this crisis will make Greece stronger as there is now an urgent need to bolster its economy from which they cannot walk away any longer.

Originally posted by RWM88
So at the end, yes the EU pisses me off sometimes but it does have some benefits. Then to top it all of, I don't feel completely conquered since English is the international language of the world and the folks over the channel have to engage in speaking my language once in a while

I pretty much agree with everything you are saying. The EU does have its benefits - political stability remaining the most important in my opinion - but I have the impression that there is a sinister group of individuals who want to take the EU to another level - one of world domination so that the rich elite can benefit at our expensive.

The EU army that has been talked about for years is an important indicator. It would mean an evolution from an economic power to a superpower. We all know how that ends up. Look at the US or any other past superpower for that matter. Sooner or later they all collapsed.