Whatever Germany does, the euro as we know it is dead

Whatever Germany does, the euro as we know it is dead

[url=http://www.telegraph.co.uk/finance/comment/jeffrandall/7746806/Whatever-Germany-does-the-euro-as-we-know-it-is-dead.html]www.telegraph.co.uk[/url ]

This is why the euro, in its current form, is finished. The game is up for a monetary union that was meant to bolt together work-and-save citizens in northern Europe with the party animals of Club Med. No amount of pit props from Berlin can save the euro Mk I from collapsing under the weight of its structural dysfunctionality. You cannot run indefinitely a single currency with one interest rate for 16 economies, when there are such huge fiscal disparities.

(visit the link for the full news article)

As enamored as U.S. liberals seem to be with Euro-style socialism, this is great evidence for why we don't need to try it here.

Especially telling is the explanation of why the euro is not working - the disparity between work and save people and people in countries without that ethic. So, please don't try and force the "amero" on us here, since the same thing would end up happening between the U.S. and Canada on one hand and mexico on the other as is happening in Europe between the northern Europeans and the southern Europeans.


[url=http://www.telegraph.co.uk/finance/comment/jeffrandall/7746806/Whatever-Germany-does-the-euro-as-we-know-it-is-dead.html]www.telegraph.co.uk[/url ]
(visit the link for the full news article)

Originally posted by centurion1211
As enamored as U.S. liberals seem to be with Euro-style socialism, this is great evidence for why we don't need to try it here.

"The EURO As we know it is dead"

ie.. There is a new system being created.. A fiscal system of governance.. A two speed EURO..

Absolutely nothing about Socialism.. And Socialism didn't damage the EURO..

The Global collapse did.. France is by far the most Socialist EURO state.. Are they in trouble? Sweden as well.. Eh? NOOOO! lol

Why does everything with ye Yanks have to revert back to Socialism or Obama?

I doubt we're on the way to the Amero, as it was "outed" a little early.

Nah, I think they'll probably skip all that medium money altogether, and just go with Special Drawing Right's (SDR's) as the new World Currency (like how they used the word "Rights"... ).

I believe it's a huge mistake to think the European crash (indeed it seems to be spreading like a virus) will not affect the U.S. Economy (or any other for that matter).

Personally, I think Incorporating should be illegal to begin with (along with all mergers and Stock Exchanges as well), besides just boycotting everything they're being rewarded by with their "profit above all else" mentalities.

reply to post by centurion1211


What the hell does socialism have to do with the Euro, or even it's collapse for that matter? Did you not know that economic liberalism/liassez-faire economics is the one that supports a single currency? The Liberal Parties in Europe are Classical liberal/Libertarian and they are the ones which supported a single currency. NOT THE SOCIALISTS

And if you look at the true Socialist countries in the Euro, they are doing very well compared to the small government - libertarian countries in the east. Sweden, Finland, Denmark, Netherlands, France; they aren't in a bad situation, but they are being forced into one due to the bankers, elite, and small government/economic liberals which have hijacked all western countries and are driving them into the ground.

[edit on 5/21/10 by Misoir]

reply to post by lagnar


The SDRs are going to be the new "Gold Standard" by which all currencies will be valued.

So even though it may be a Euro, Dollar, Yuan or Yen in name, its real value will be determined by the IMF's SDRs.

By next month during the G-20 summit in Toronto, we will know more. The ground work for an IMF financial transaction tax will be laid then and the road to Bretton Woods II will be open.

reply to post by MikeboydUS


I could be mistaken but, didn't the Bretton Woods System give us the golden age(economics) which led to the baby boom and a huge boom in the global economy?

reply to post by Misoir


It was a decent idea at the time but Nixon ruined it and we have been on an unstable and unofficial petrodollar since.

The IMF and the G-20 are trying to regain the economic and financial stability that we once had under Bretton Woods. I personally don't know if it will fix things, but what it will do is make the IMF into the "Federal Reserve" of the planet and the G-20 is emerging as its "High Council".

For some reason that bothers me.

reply to post by MikeboydUS


That would bother me too. 20 countries acting like a Global Parliament, and the IMF acting as the global central bank.

Not only is that the absolute worst possible model of an undemocratic system of global governance, and excludes the other 172 countries, but basically creates a global dictatorship of the wealthy/powerful.

The IMF is basically privatized and is run by bankers and other former politicians and economists. It is like taking the whole world's economy and running it by unelected Senators and the capital controlled by private bankers.

Actually this could only be a new beginning for the euro .

At the meeting that will take place that most probably will result in helping the greek economy a new era may be born , an era in which smaller and less powerful countries in the EU will be the puppets of bigger european powers ( france , germany ) an era in which local governments will have no word to say and will only execute the decisions taken by the big countries.

States withing a higher state controlled by germany and france , a state that will became more and more powerful
In this case , this is just the begining for the euro and the end for small democracies within the european continent

This entire situation may be just a step forward in their agenda that they are struggling since a decade already to materialize .
Now with the Lisbon treaty in action maybe this is the next step

reply to post by Dermo

Absolutely nothing about Socialism.. And Socialism didn't damage the EURO..

Call it what you wish. The fact is that one of the big reasons for the financial collapse in Greece is the ridiculously generous retirement benefits of government workers, and the numerous welfare state benefits. The country has a debt of 115% of its entire GDP. Greece did what Obama is trying to do in this country, namely spending the way out of debt. Even a freshmen in ECON101 understands that such an approach is doomed to failure.

I take no comfort in Greece's problems, because it soon will be the problem of the United States.

Originally posted by Dermo
Why does everything with ye Yanks have to revert back to Socialism or Obama?

Not all Yanks, Dermo, just right-wing ones like Centurion who obviously don't even know what Socialism is, yet throw around the word like some sort of insult. I can never understand this rabid hatred they have for Governments that take care of their people.

You and others are quite right, the countries in Europe which haven't started to buckle under this "global economic downturn" are the one's who would be called "socialist", ie; Germany, France et al.

It is precisely because they have weathered the storm that they are having to bail out the PIIGS. Had the "socialist" countries "collapsed" then there would be no bail-out at all.

And another nail in the coffin for Centurions crusade against the EU/Socialism is that the UK is as much in debt, relatively speaking, as these Med countries and we are certainly not "socialist".

EDIT: The main reason Greece, Portugal etc are buckling is because their systems are corrupt, whereas the Northern countries have much more robust systems in place with lotys opf checks and balances.

For a long time, politicans in Greece have either "bribed" the population with cushy jobs and pensions, or have been held to ransom by the far-left communists etc until they give them cushy jobs and pensions. That sort of nonsense would not be tolerated in the North.

[edit on 21/5/10 by stumason]

reply to post by centurion1211


I think this is a test, a test to see who will fall back and leave European Union at hard times.

The countries who will fall back will be allowed to fall back, the countries which stay will probably unite in to one nation.

That will give them a huge advantage over other European nations.

This has already been predicted, the talk in regards to "EuroLand".