European Debt Crisis

Ace Rimmer · 2012-04-26 03:18:20

Neither is the EU because its already at the broke ass nation states phrase :p

The European Union is an Economic Union not a political union

Justice4243 · 2012-04-26 03:25:16

states.
The s was kinda important. :P

Ace Rimmer · 2012-04-26 03:29:44

But the EU isn't a country though :p

Its just an organisation that represents 450 million people on the global stage

Justice4243 · 2012-04-26 03:32:32

"Nation states" is what I said in the original post.

Now stop being pedantic or I'm going to fish European coastal waters and sell whatever I catch to you guys so I can spend the money I'm given in America!

Ace Rimmer · 2012-04-26 03:36:55

I know you said nation states but I am saying the EU is already full of broke ass nation states. I'm not being pedantic, I'm saying to say that the EU is just a club for sovereign states that stay as sovereign states because its an important fact in the crisis.

Its partly the reason why we're all buggered because the Euro is one currency for 17 different economies and 17 different fiscal policies.

Justice4243 · 2012-04-26 03:55:27

But I knew all this.

You said the situation in the US and the EU was different. I agreed, stating that the US wasn't in danger of disintegrating into a bunch of broke as nation states. And then, somehow, we started analyzing exactly what I meant.

Therefore, when I retire and on medicare, I'm going to fish European Coastal waters, and spend all my earnings on African hookers in blow...in Africa.

That way I'm burdening the world economically as much as humanly possible.

Ace Rimmer · 2012-04-26 07:15:03

I wanted to be sure thats all. I wasn't saying you didn't but I was commenting on the fact that most of the EU states are already at the stage you were talking about :P

Justice4243 · 2012-04-26 13:00:01

True, but the EU is still intact, for now.

I'm guessing it won't get to the point where it "disintegrates", but shit will sure suck for first world society if it does, I'd imagine. Partially, because that means a bunch of 1st world nations are now left with no one really in a position to solve their ailing debt crisis.

The Euro is starting to look like not such a hot idea, I bet. That's got to be some comfort to Brits. :P

Ace Rimmer · 2012-04-26 13:09:21

That's got to be some comfort to Brits. :P

You'd think that but its the same for you yanks if China collapsed to be honest. The Euro collapsing would destroy the British economy.

Justice4243 · 2012-04-26 13:15:42

Interesting. Is their substantial aspects of the British economy tied up with the Euro? Or is it more that British economy is tied to members of the EU?

Ace Rimmer · 2012-04-26 13:16:48

The EU is the largest export market for British goods and 17 of those nations use the Euro

Justice4243 · 2012-04-26 13:24:48

Gotcha, so not a direct hit to the economy if the Euro fails, but a sort of domino effect.

Ace Rimmer · 2012-04-26 13:43:27

Yes, which is bad obviously and why the UK has a vested interest in keeping the Euro together or have a system of controlled exit

Ace Rimmer · 2012-05-17 14:09:44

There seems to have been fears of a bank run this week in Spain and a banking run Greece with a billion Euros taken out of a Spanish bank and upto 1.2 billion Euros taken out of Greek banks as people stuff their savings under a mattress. Tbh, its only a matter of time now before Greece leaves the Euro/gets pushed out.

Justice4243 · 2012-05-17 14:28:07

Who would that benefit exactly?

Greece for not using the Euro? Or the EU for not having to bail out Greece anymore. /legitimate question.

Ace Rimmer · 2012-05-17 14:33:59

Greece for not being apart of the Eurozone while staying in the EU because Greece can default, inflate and gain some kind of competitiveness in its Economy. It would be a horrible mess for everyone if Greece left the European Union.

Ace Rimmer · 2012-06-07 09:00:32

Well, the endgame of the European Union is about to be played out as Frau Merkel is trying to push for a political union of the European Union or the Eurozone.

Unknown · 2012-06-07 09:04:12

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Ace Rimmer · 2012-06-07 09:11:26

Squid, the final boss of the European Debt Crisis has been in plain sight since 2007 :p

Obā-san · 2012-06-07 09:30:38

^ ^

Justice4243 · 2012-06-07 13:01:46

Heard about Spain again.

Seems something will have to be done sooner rather than later at this point:

http://www.cnbc.com/id/47716389

Unknown · 2012-06-07 13:06:43

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Unknown · 2012-06-07 13:09:35

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Ace Rimmer · 2012-06-07 13:15:48

@Squid

...

Not funny...

@Justice, Well the problem with Spain is that the Spanish Federal Government can't bail out both the banks and the autonomous regions but both need a bail out

Unknown · 2012-06-07 13:21:02

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Unknown · 2012-06-07 13:21:45

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Justice4243 · 2012-06-07 13:22:11

Squid, you should probably tone down the inanity, this is a "TALK" thread, after-all.

Unknown · 2012-06-07 13:22:54

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Justice4243 · 2012-06-07 13:29:41

I found this part of the article interesting:

German officials have been privately pressing the Spaniards to take a bailout. On Tuesday, Volker Kauder, the head of Chancellor Angela Merkel’s Christian Democrats in Parliament, said that Spain “has to seek a rescue.” But as long as Brussels and Berlin believe aid is necessary, Spain retains bargaining power — the chance that it self-destructs implicitly holds the rest of Europe hostage until they agree to terms.
...
The ultimate solution will hinge on Germany and how much its leaders are willing to bend. Berlin has an incentive to get the Spanish problem under control before Greek parliamentary elections on June 17, to help contain contagion in the event of instability after the vote, said Holger Schmieding, chief economist at Berenberg Bank.

Sounds like Germany is trying to get this sorted sooner rather than later. I guess with them often having to pony up a lot of the cash to keep these countries afloat they have an interest in applying damage control.

Ace Rimmer · 2012-06-07 13:36:03

They might but Merkel is a political survivour and a weather vane so she can only manoeuvre in the direction that the German electorate will lead her

Misery · 2012-06-07 13:37:45

blah blah politics

-rolls eyes-

Justice4243 · 2012-06-07 13:39:08

Knock it off guys, if you're not interested, don't post. I'm getting a little sick of being unable to have a real discussion without people shit-posting all over it.

Unknown · 2012-06-07 13:40:42

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Ace Rimmer · 2012-10-22 09:11:42

http://www.bbc.co.uk/news/world-19976841

Greece is an effective failed state where the concept of state is an idea in some places and the Golden Dawn neo-fascists are in control.

Even the police refer you to them.

Also, there are increasing attempts by Galician, Basque and Catalan separatists to deattach themselves from Madrid

Obā-san · 2012-10-22 09:33:50

Fun stuff.

Corporal Forsythe · 2012-10-22 09:40:39

This is the first time I've seen Catalan do or be something other than a footnote

lee4hmz · 2012-10-22 10:50:41

If Greece gets any worse, they may need to send in UN peacekeepers to keep the place from getting overrun. Not that it will help much, but I doubt anyone wants a far-right military state anywhere in Europe right now...

Ace Rimmer · 2012-10-29 15:26:53

Comparisons of Greece with the Weimar Republic from the BBC

European Debt Crisis

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