EU deal announced

[TarJak]

http://m.smh.com.au/business/world-b...027-1ml87.html

Market reactions have been positive but I think this still has some way to go to play out. This losses by institutional investors may have significant negative impacts.

[Skybird]

They announced nothing, really. Not a single detail and condition. It all needs to be hammered out in coming weeks. And it will be without approval by the people in many countries, but will be against the people, and at the cost of the people (=tax payers).

They also want to bring in China. China will not do it for free.

Anyhow, the German Constitutional High Court, which some weeks ago already had ruled that the parliament must be asked about any intention of the government to accept even higher risks and payments to Brussel or the bailing-out of foreign nations, has stopped today the idea of the government that it must not ask the parliament (Merkel has carefully avoided to explain the leverage mechinaism to parliament in re3cent days, and wants to leave the parlimanet in darkness over the bailin-out as much as possible), but can explain and talk to only a secret gremium of just nine people, behind locked doors. The court'S decision is not the final verdict, but a temporary order for stopping until a regular court case has followed and decided the issue. Several members of the parliament have filed that case I think yesterday.

The government demonstrates since months a very high interest in keeping the whole issues hidden from public awareness and preventing the parliament to fully understand the extremely dangerous implications. It seems lacking insight is the only way now to make the Bundestag approving the gambling the government is doing. If you know the full details, you would not approve it.

The whole leveraging of the credit limit is a new highlight, a spiking of the Casino attitude that politicians until one day before the summit have criticised bankers and speculants for. The governments in Europe now are probably the biggest casino gamblers of all.

Oh, and in the past months of this year there have been three opportunities when short-legged decisions have made the market to applaud - for some days, and one week later they already declined again.

It all smells foul and rotten, and shows a deliberate criminal basic attitude by the actors.

On a side-note, a split in the EU is forming up as well, a split between EU-members with and EUJ-members withoiut the Euro. The latter, especially Britain and Poland (both not having the Euro), demand to have a word in the currency decisions, but this week got the door slammed in their faces and shown the way out whenever Euro-relevant decisions were to be made (for example Sarkozy balking at Cameron that Britain has no word to say on it as long as it does not have the Euro itself). It is becoming a two-faced Europe at least, with the Euro-member states lead by Germany ad - from a weaker psoition - France. Howqever, this will last only for as long as Germany already waning financial power can last, and the German population still does not realise that there future poensions and livbing basis when they have becomign old alreadey have been gambled away by handing away the securities the system would need to support them in the future. Two days ago I read that even the gold reserve of the Bundestag is at risk and may already be part of the "deal" for the bailouts.

[Jimbuna]

I've been watching some of the political meandering on the news.....wouldn't it be simpler to let Greece default and opt out of the Euro?

Better to cut your losses now than build up even larger ones with no end in sight.

[Dread Knot]

What started out as a 'haircut' looks more like a beheading now.

[TarJak]

Originally Posted by jimbuna

I've been watching some of the political meandering on the news.....wouldn't it be simpler to let Greece default and opt out of the Euro?

Better to cut your losses now than build up even larger ones with no end in sight.

But the fear that default generates across global markets is what this deal is about. I don't think they are taking the right action either though. Some things are better left to fail than to be propped up by rotten deals that end up hurting the people they are meant to protect.

I think the global economy is in for more rough weather to come.

[Jimbuna]

Originally Posted by TarJak

But the fear that default generates across global markets is what this deal is about. I don't think they are taking the right action either though. Some things are better left to fail than to be propped up by rotten deals that end up hurting the people they are meant to protect.

I think the global economy is in for more rough weather to come.

Yes...I agree

[Osmium Steele]

Evidently, Greece is too big to fail...

[Skybird]

Originally Posted by jimbuna

I've been watching some of the political meandering on the news.....wouldn't it be simpler to let Greece default and opt out of the Euro?

Better to cut your losses now than build up even larger ones with no end in sight.

What do you think of us...??? We Germans are good people now, we are very very kind and wellmeaning and no longer threaten anyone anymore! And isn't it like our chancellor and her mouthpieces keep telling us: that it was the EU securing freedom and safety during the cold war and keeping the red guys away, and isn't it that without the Euro currency we immediately would fall back into the era when European states waged war after war against each other! A single currency means peace, our governmen tells us so, time and again, it is true! Merkel says time and again that her policy is without alternative! Democratic processing is not needed, we just need to hear and follow! You crazy Anglosaxon island squatters better start to listen to her!

Also, if you take away the EU and the Euro and the German self-deconstruction for both, what option would the German war generation a la Helmut Schmidt have then to reassure the world and even more important: their own bad consciousness that they are so very sorry for WWII and what the Third Reich had done to everybody! Sacrificing ourselves now for the EU and the Euro is their best method to demonstrate how very very bad they still feel overt what happened 70 years ago!

Wicked Skybird says: Germany lost the war, and for that it deserves punishment! May sound ironic, but there is some grain of truth in it. You guys cannot imagine how crazy us Germans can tick. Only Germans can.

Hm. After two world wars, maybe you can as well.

[soopaman2]

Originally Posted by jimbuna

I've been watching some of the political meandering on the news.....wouldn't it be simpler to let Greece default and opt out of the Euro?

Better to cut your losses now than build up even larger ones with no end in sight.

Someone powerful is making money off the misfortunes (lazy early retiring) of the greeks, that and entrenched political interest. (EU/world wide, not just Greece)

Same reason we (USA) ignored a major rule of capitalism (let the weak fail) by bailing out our sloppy banks.

You Euros are free to blame the United States for this. We set the trend of privatizing the profits and socializing the losses.

Yes Mr. Jimbuna, let them fail.. It may hurt the elites for awhile but things will stabilize eventually.

There isn't a banking institution in this world is is not corrupt or complicit in this worldwide economic crises.

[Osmium Steele]

Originally Posted by soopaman2

Someone powerful is making money off the misfortunes (lazy early retiring) of the greeks, that and entrenched political interest. (EU/world wide, not just Greece)

Same reason we (USA) ignored a major rule of capitalism (let the weak fail) by bailing out our sloppy banks.

You Euros are free to blame the United States for this. We set the trend of privatizing the profits and socializing the losses.

Yes Mr. Jimbuna, let them fail.. It may hurt the elites for awhile but things will stabilize eventually.

There isn't a banking institution in this world is is not corrupt or complicit in this worldwide economic crises.

I'm trying to find something with which I disagree in the above statement.

Ok, maybe the last sentence as I know a couple of small, locally run banks who are still clean, but yeah...

+1

[soopaman2]

Originally Posted by Osmium Steele

I'm trying to find something with which I disagree in the above statement.

Ok, maybe the last sentence as I know a couple of small, locally run banks who are still clean, but yeah...

+1

Thank you. I am usually flamed when I post stuff like that.

[Jimbuna]

Originally Posted by Skybird

What do you think of us...??? We Germans are good people now, we are very very kind and wellmeaning and no longer threaten anyone anymore! And isn't it like our chancellor and her mouthpieces keep telling us: that it was the EU securing freedom and safety during the cold war and keeping the red guys away, and isn't it that without the Euro currency we immediately would fall back into the era when European states waged war after war against each other! A single currency means peace, our governmen tells us so, time and again, it is true! Merkel says time and again that her policy is without alternative! Democratic processing is not needed, we just need to hear and follow! You crazy Anglosaxon island squatters better start to listen to her!

Also, if you take away the EU and the Euro and the German self-deconstruction for both, what option would the German war generation a la Helmut Schmidt have then to reassure the world and even more important: their own bad consciousness that they are so very sorry for WWII and what the Third Reich had done to everybody! Sacrificing ourselves now for the EU and the Euro is their best method to demonstrate how very very bad they still feel overt what happened 70 years ago!

Wicked Skybird says: Germany lost the war, and for that it deserves punishment! May sound ironic, but there is some grain of truth in it. You guys cannot imagine how crazy us Germans can tick. Only Germans can.

Hm. After two world wars, maybe you can as well.

Originally Posted by soopaman2

Someone powerful is making money off the misfortunes (lazy early retiring) of the greeks, that and entrenched political interest. (EU/world wide, not just Greece)

Same reason we (USA) ignored a major rule of capitalism (let the weak fail) by bailing out our sloppy banks.

You Euros are free to blame the United States for this. We set the trend of privatizing the profits and socializing the losses.

Yes Mr. Jimbuna, let them fail.. It may hurt the elites for awhile but things will stabilize eventually.

There isn't a banking institution in this world is is not corrupt or complicit in this worldwide economic crises.

All I'll say to you both atm is.....I'm not a fan of the EU....the UK is an island nation and as such we have always stood alone in the past.

Yes, the EU supporters claim that pulling out of the EU will harm our economy but if you have anything of worth that is wanted by a consumer they will find the means to trade.

Take it to a referendum of the British nation...funny how neither of the big two political parties fail to do that...I wonder why?

[Dan D]

Is this the occupy subsim street thread, you "hippies"? :-)