European leaders prepare for a Greek default

European leaders have admitted they are preparing for a Greek default as the eurozone debt crisis enters a pivotal week.
EU Leaders Prepare For a Greece Default

"We are doing everything we can to prevent a perilous escalation for Europe but must at the same time be prepared for the worst," Mr Schaeuble said. "If things turn out differently than everyone expects that would of course be a major breakdown.

George Soros, the hedge fund manager famous for shorting Sterling in the 1990s, added that it is "probably inevitable" that a country will quit the euro. "There are fundamental flaws that need to be corrected," he said. What Europe's leaders are saying about the bail-out.

Correction George Soros is behind the economic collapse in eupore but he isnt the only person who created the economic collapse, as for the article goes it seems that only now the EU leaders admit and are preparing for a Greek default but before it news already reported this before it became headlines

What are your thoughts on this one?

reply to post by Agent_USA_Supporter


I think what began as a trading cartel with loose borders aiding a peaceful Europe became the euro super state dream in the eyes of some (unelected) power mad individuals at the heart of Europe.

The Greeks see it happening...

-Lightrule

Well, they haven't failed YET, and it is all really, really interesting. Economic history is being made, while we watch.

If America wasn't so full of arrogant buffoons, we would be paying VERY close attention for clues as to how to shape our own future economic policy.

Originally posted by Agent_USA_Supporter
European leaders have admitted they are preparing for a Greek default as the eurozone debt crisis enters a pivotal week.
EU Leaders Prepare For a Greece Default

"We are doing everything we can to prevent a perilous escalation for Europe but must at the same time be prepared for the worst," Mr Schaeuble said. "If things turn out differently than everyone expects that would of course be a major breakdown.

George Soros, the hedge fund manager famous for shorting Sterling in the 1990s, added that it is "probably inevitable" that a country will quit the euro. "There are fundamental flaws that need to be corrected," he said. What Europe's leaders are saying about the bail-out.

Correction George Soros is behind the economic collapse in eupore but he isnt the only person who created the economic collapse, as for the article goes it seems that only now the EU leaders admit and are preparing for a Greek default but before it news already reported this before it became headlines

Yes we must to come in to Europe we will promise to you a new economy.No markets collapses. Where are those results ?Where are those merkets stability. Why there are more bubbles now more than in the last century
Euro buying power ? Inflation ? What i can see is : Hyper inflation of prices, low salaries(they doesn't icreased from 2000),less jobs(industrials common practice favouring the immigration work salary curve = more workes =low salaries sindacate workers power nada niente nothing because there is more offer of workers ) or relocating the industries Why because the labor cost in those "new european countries" is low so you will find your precious prada boots made in Italy but they aren't made in Italy but made in Romania

Who approved their balances naturallu the ECB

Let's import textiles from China we will promise to you lowest prices. Yes lowest prices for the importers but the textiles products still having the same prices Why ? More gains for the importers. Where is the concurrency ?
This is MONOPOLY like the paper you are calling money.
Next country ? Italy

What are your thoughts on this one?

Soros connections with Rotschild

Originally posted by Lightrule
reply to post by Agent_USA_Supporter

 

I think what began as a trading cartel with loose borders aiding a peaceful Europe became the euro super state dream in the eyes of some (unelected) power mad individuals at the heart of Europe.

The Greeks see it happening...

-Lightrule

The euro was an excellent idea. There's no disputing that, in practice, not sure if you used it, but living in continental Europe I've used it countless times, was a major jump over previous fiddling with national coin.

The issue was that euro criteria were the same irrespective of the country being Greece or Germany. The fact that all countries were allowed to keep tight sealed fiscal and economical policies made it not to work, as the euro would have required a more knit closed economy.

There's also the small issue that all countries (yes, including France and Germany as we saw two years ago) fudged their accountancy to comply with the convergence criteria. This created a Brussels born illusion that everything was ok when the root problems of what we are seeing today were already there.

I think it was brought up as an emergency question in the UKs parliament the other week, that it would be irresponsible and reckless to not prepare for a potential default.. but it seems to me certain media outlets (especially in the UK) are driving their own agenda in wanting to Euro to fail.

Britain should never have been involved in the first place, not because I am anti-Europe but because I can not see Britain, France and Germany playing nice for long enough to get solid foundations in place to weather the storms we now face.

Almost bound to fail is how I feel right now...

Originally posted by thoughtsfull
...
Almost bound to fail is how I feel right now...

I beg to differ. The euro cannot fail, most of all as a political project for this (appalling) generation of politicians and financial agents. They will make it last whatever it takes since the sacrifices will not come from them.

I see a profound two speed europe, but it's not a split over what coin they use, it's a split over if they are rulers or ruled.

reply to post by jmlima


Sorry, meant the EU is almost bound to fail with some much infighting and bitching... But the Euro will be kept going even if it means dragging it kicking and screaming along the street..

Fortunately it might not come to the kicking and screaming parts as Premier Wen Jiabao comments seem to me to have helped bolster a little more confidence in the Eurozone.

Seems almost too coincidental in the timing of his visit to Europe...

Originally posted by thoughtsfull
...
Seems almost too coincidental in the timing of his visit to Europe...

yeah, he is protecting his investments...

Well, looking at the history of Rome, their coin lasted 400 years, so perhaps the Euro will too, although there is now no Egyptian coinage to bring down the Roman loan rate of %12 down to %4 as what happened when Caesar took over from Cleopatra the 12th.

Originally posted by jmlima

Originally posted by thoughtsfull
...
Seems almost too coincidental in the timing of his visit to Europe...

yeah, he is protecting his investments...

Protecting his investments against who... this is the part I haven't quite got my head around, at times it seems like the bail outs fail to have any positive impact as our (our meaning our corporate government) greed keeps pulling us back into the quicksand, or we are in midst of an economic war.. or.. as I say, I've not quite got my head around this...

But it is (for me) quite striking that while Obama tried to bring American good will the Chinese Premier brings hard cash..

Originally posted by thoughtsfull

Originally posted by jmlima

Originally posted by thoughtsfull
...
Seems almost too coincidental in the timing of his visit to Europe...

yeah, he is protecting his investments...

Protecting his investments against who... this is the part I haven't quite got my head around, at times it seems like the bail outs fail to have any positive impact as our (our meaning our corporate government) greed keeps pulling us back into the quicksand, or we are in midst of an economic war.. or.. as I say, I've not quite got my head around this...

But it is (for me) quite striking that while Obama tried to bring American good will the Chinese Premier brings hard cash..

IMO, he is buying markets:

www.bbc.co.uk...

They are moving further away from the 'cheap', through their help with rescues they are ensuring cooperation in fiscal and trade agreements. It makes sense then to ensure that no other party comes and 'steals' his grab by putting more money into those 'client countries'.

China is turning onto the 'helpful' last resource bank. We are selling our soul for cheap (or not so cheap) TV's.

Originally posted by jmlima

Originally posted by Lightrule
reply to post by Agent_USA_Supporter

 

I think what began as a trading cartel with loose borders aiding a peaceful Europe became the euro super state dream in the eyes of some (unelected) power mad individuals at the heart of Europe.

The Greeks see it happening...

-Lightrule

The euro was an excellent idea. There's no disputing that, in practice, not sure if you used it, but living in continental Europe I've used it countless times, was a major jump over previous fiddling with national coin.

The issue was that euro criteria were the same irrespective of the country being Greece or Germany. The fact that all countries were allowed to keep tight sealed fiscal and economical policies made it not to work, as the euro would have required a more knit closed economy.

There's also the small issue that all countries (yes, including France and Germany as we saw two years ago) fudged their accountancy to comply with the convergence criteria. This created a Brussels born illusion that everything was ok when the root problems of what we are seeing today were already there.

edit on 27-6-2011 by jmlima because: typo

The euro was an excellent idea. There's no disputing that, in practice, not sure if you used it, but living in continental Europe I've used it countless times, was a major jump over previous fiddling with national coin.

The euro isnt and never will be an excellent idea, the EU union was forced upon the Europeans in secret, euporeans back in the 80s had no idea there will be a creation of a euporean union.

As for the dollar, the dollar is a failure, it asks of your nation to surrender your sovereign country dollar in return for the Euro and thats not all now the EU and the elites wants all former soviet ex states to join the falling empire.

If anything if you look at the map of the EU Union, you can clearly see that it looks like a huge iron wall agaisnt russia.

Originally posted by Agent_USA_Supporter
...

The euro isnt and never will be an excellent idea, the EU union was forced upon the Europeans in secret, euporeans back in the 80s had no idea there will be a creation of a euporean union.
...

Sorry but that is vastly incorrect. For the avoidance of doubt, I live in Europe, and I'm from a country that has been in the EU since the early 80's. We all knew what was coming, and the euro was well debated,including it's purposes and goals, as was the intention to create a supra-national union, with elected president et all, that never materialized.