EURO to crash...? Europe's Choice: Dismantle The Euro, Or Cede All National Sovereignty To Brussels

www.businessinsider.com... =twitter

hummm, to brussels huh.... well brussels is like 200% of GDP in Debt as well,
so why cede soveirgnty...?

a snipet of the article...

We said in early December that the Euro breakup would be the story of 2010, and just over a month in that prediction has shown to be right on. It's even overshadowing (by far) concerns over a China bubble, or at least a China slowdown.

A piece in Der Spiegel highlights the real problem that Europe faces. It's not just debt. It's politics.

As the early euro-skeptics warned, coordinating a single monetary authority across nations with their own political systems and economic objectives wouldn't work. The founders of the euro actually knew this, but they they thought they could cheat by imposing deficit limits on each country, which were stipulated in the Maastricht Treaty.

They appear to have 3 choices:

1. Abandon the euro .(Could their egos bear to accept they were wrong?)

2.Accept the weaker members but re-define them as tier 2 euro members.
(Sounds implausible but friends in Portugal mentioned some shops would only accept German printed euros!)

3.Re-write the Treaty to allow for bailing out of a floundering country-currently forbidden under the original terms they all signed up to.

On point 3. I would like to suggest a suitable acronym for the Eurocrats to play with : Draft Emergency Amendment Deed. also known as D.E.A.D.

Originally posted by Anti-Evil
hummm, to brussels huh.... well brussels is like 200% of GDP in Debt as well,
so why cede soveirgnty...?

Brussels? You mean Belgium, yes? They don't have a debt of 200% GDP! Where on earth did you pull that from? It's closer to 3%, well within limits set by the Maastricht treaty. It's also worth noting that same treaty allows members to exceed the 3% for a limited period, so it's not a hard and fast rule.

And the EURO fall apart? Not likely. Greece, Italy, Portugal and the like are just going to have to live within their means. Greece and italy especially need to sort out the mess in-house.

Their Governments are weak and they feel compelled to give in to Public pressure to increase public sector wages, even during a recession, for example. Plagued by strikes and a populace that seems to think it is entitled to everything but in the same vein doesn't want to pay for it.

Both countries are shining examples of places that should not have been allowed into the EURO to begin with, but now they're going to have to suck it up and sort it out.

No sympathy here, none at all. Greece won't be allowed to sink, but they may find in the future their accounts are gone over with a fine comb and they will certainly have to cut their rediculous spending.

Collapse of the euro is 'inevitable': Bailing out the Greek economy futile, says FRENCH banking chief

Read more: www.dailymail.co.uk...

I know how extra-special-turbo-smart you eruos tell anyone who will listen, but this is not the least bit surprising. Europe is a continent that spent the last 1000 years in virtually non stop war.


An actually smart American, Milton Friedman said this:

The euro is going to be a big source of problems, not a source of help. The euro has no precedent. To the best of my knowledge, there has never been a monetary union, putting out a fiat currency, composed of independent states. There have been unions based on gold or silver, but not on fiat money—money tempted to inflate—put out by politically independent entities.

- Interview with New Perspectives Quarterly Magazine, 2005

reply to post by Number23


No fan of the EU here, but the Daily Mail is a rapid, anti-Europe, right-wing trash paper who will twist any story to suit their needs. To be honest, the views of a couple of bankers hardly resonate as something one can trust, given their current reputation. I suspect he has an agenda for saying those comments. The EU won't collapse, there is no mechanism for it's dissollution.

And why is it that Yanks think Europe spent "1000 years in non-stop war". Yes, there were wars, but Europe was hardly the giant battleground it gets painted as. What about the rest of the planet too?

Oh, I forgot, it was all hippy peace, love and flowers until the nasty White man turned up.

Silly me.

Now why do I get this uneasy feeling that we are going to be looking at a war over monopoly money in the near future?

Oh sure the justification will about one EU nation mucking about in a non-EU country to prop up their economy when another EU country (or US) wants to be the sandbox bully and take too much of a slice of pie. But in the end, it's just over monopoly money and the illusion of wealth.

reply to post by Ahabstar


Agreed.
But i think "war" will be fought completely different.
What we see here is a plot of the European Central Bank to make foreign policy throughout the European Union, by bankrupting countries and dictate "terms" afterwards.

Its the same with Greece. They propably going to be told to withdraw their protection on Cyprus, if they want to be helped financially.

Its making me sick.
Because it has nothing to do with people and their needs anymore, but to set the first stage towards the NWO

reply to post by Dynamitrios


Well that tactic has worked rather well for the IMF world bank. I guess the irony of the whole affair is that Italy and Greece will end up being subjugated by what were "barbarian" nations when they were the shining examples of democratic values in the world.

Yet we speak of Middle Easterners as holding grudges about the Crusades and other past events.

What goes around comes around after all, I suppose.

reply to post by stumason


The way Europe calculates GDP debt ratios is considered.... "crafty accounting" ....

Many countries exceed 3% by an extreme amount, like Ireland for example, or Spain, or Greece.. however, it's not actually Debt to GDP Euro's count, it's "Annual Debt Obligation to GDP estimates"



There isn't a single European country with 3% DGDP ratio.

this is a great thread.
i'm a currency trader, and a bible prophecy researcher.
that Milton guy has a good point, i never thought of that.
i suppose the strongest model is prophecy....surprise....which says the euro must increase, but it could go down then be replaced, i'll be taking this thread into my trading! i called for a euro 118.xx, and it's heading there, this will be interesting! ATS is pertinent to my forex

reply to post by GBP/JPY

ATS is pertinent to my forex

....

Lol, I hope your joking.

Here we go again with BAILOUT. Ron Paul has an interesting take on Greece.



reply to post by stumason

And why is it that Yanks think Europe spent "1000 years in non-stop war". Yes, there were wars, but Europe was hardly the giant battleground it gets painted as. What about the rest of the planet too?

Oh, I forgot, it was all hippy peace, love and flowers until the nasty White man turned up.

White man speaking-American.
Oh... I don't know something like real history. Europe has been one of the most violent continents on the planet. Not to mention the global mayhem they carried out for centuries with their colonies, possessions and the slave trade. Did we also forget their participation in Korea, Vietnam. Ooops. I mean French Indochina, Gulf War 1 and Gulf War II?

reply to post by slidingdoor


How about choice #4.
End the European Union. All nations go back to their original currencies.
I think the Germans would love to have their German Mark back.
--------------------------------------
Choice #5
Create a NEW European Union.
Greece and Ireland jump out and go back to their original currencies.
That way they can print money if they want to.
The New and smaller EU tries out the Euro 2 dollars and at the same
time switches to a cashless system which allows them to harness
the underground economy.


[edit on 13-2-2010 by Eurisko2012]

Originally posted by slidingdoor
They appear to have 3 choices:

1. Abandon the euro .(Could their egos bear to accept they were wrong?)

2.Accept the weaker members but re-define them as tier 2 euro members.
(Sounds implausible but friends in Portugal mentioned some shops would only accept German printed euros!)

3.Re-write the Treaty to allow for bailing out of a floundering country-currently forbidden under the original terms they all signed up to.

On point 3. I would like to suggest a suitable acronym for the Eurocrats to play with : Draft Emergency Amendment Deed.

also known as D.E.A.D.

4. Adopt Bush/Obama policy of lending money we don't have to prop up failing buisnesses in the hopes that no one will notice and that the problem just takes care of itself in due time.

You really wanna know why Brussels wants to bully the EU into turning itself over to them for total control? It's because the beast in the Bible is a multi-edged sword like many other descriptors in the Bible but in Brussels there is a super computer 3 story's high and is called the Beast (Brussles Economic And Surveillance Terminal - notice the acronym BEAST ). If you go to this link it will tell you all about it. Seems tobe like this is a power overhaul. The BEAST (BRUSSELS ECONOMIC AND SURVEILLANCE TERMINAL)

Here is a little more on the beast and Revelations 17 and a few photos of the scarlet woman riding the beast as described in the Bible and placed directly on painting, statues, stamps etc. in the European Union.
More info on the BEAST as well as photos

Originally posted by Eurisko2012
reply to post by slidingdoor

 

How about choice #4.
End the European Union. All nations go back to their original currencies.
I think the Germans would love to have their German Mark back.

No BS!

The German economy has been the engine that has kept the EU going. Take away the EU's life support from the Germans and the backdoor deals with the Fed it would be sianara!

[edit on 13-2-2010 by SLAYER69]

Which governments will admit
www.spiegel.de...
Greece's debt managers agreed a huge deal with the savvy bankers of US investment bank Goldman Sachs at the start of 2002. The deal involved so-called cross-currency swaps in which government debt issued in dollars and yen was swapped for euro debt for a certain period -- to be exchanged back into the original currencies at a later date.
In previous years, Italy used a similar trick to mask its true debt with the help of a different US bank. In 2002 the Greek deficit amounted to 1.2 percent of GDP. After Eurostat reviewed the data in September 2004, the ratio had to be revised up to 3.7 percent. According to today's records, it stands at 5.2 percent.

How many other time bombs are hidden in other countries?

The euro has no precedent. To the best of my knowledge, there has never been a monetary union, putting out a fiat currency, composed of independent states. There have been unions based on gold or silver, but not on fiat money—money tempted to inflate—put out by politically independent entities.

- Interview with New Perspectives Quarterly Magazine, 2005

That was true up until 1913 when United States Corporation created the Federal Reserve to Create Dollars with interest for all the Union States and created a fiat currency by removing the gold standard in 1971.

Wont happen, they'll do an accounting adjustment and save it from the demise, the euro has to succeed in order to go to the next level, the amero or north american union money, then asia, we can only HOPE it fails.

Wow this is weird I was just writing about this in another thread and then I read this headline. I agree the EU is going to collapse and I think it is planned they knew what would happen when you put weak countries with strong ones. Dont worry I am sure they have something special planned for when it does collapse and it will seem like a great idea and I bet the leadership role will fall to Germany. A unified Europe is a bad idea it was when it started and it will be a bad idea 100 years from now.




[edit on 13-2-2010 by Subjective Truth]

[edit on 13-2-2010 by Subjective Truth]