Global Financial Economics

[chatterbox]

Do you think Greece will survive their economic hardship? If that happens what will happen to the rest of the world?

[chatterbox]

If it does not happen*

[Flyingheart]

They say Greece will come out of it and better then before, its à stress test is what they are going through but its the hardest for the people i think the riots there are taking scare proportions.. When its over, there will be less corruption hopefully and when those people return the EU will try and make sure it will be harder for them to return back to Greece to steel from their people.. and a new form of goods needs to be created so Greece has a trademark like every other country has been granted and can make money and maintain their growth in years to come.

[alexsm]

The problem is the UE is wrong about nearly everything relating this crisis. They - mostly Germany and France -are pushing everyone into insane and useless economical politics that may lead to its total rupture. What "we" are forcing Greek people (and Portuguese people, and Italians, and...) to do is insane, they are right and "we" are wrong.

We should be applying a "new new deal" in the whole continent, and instead we are just caring about the debt, the deficit, and the health of banks, and leaving behind people, industries, production, innovation or anything that demands investments.

I see a whole decade of depression coming to Europe, and maybe the end of the EU and the euro.

And that's without talking about having a prime minister (president) explicitly chosen by foreign organizations. Mario Monti in Italy, Lukas Papadimos in Greece, chosen by the European Central Bank, Angela Merkel and Sarkozy, and not by the Greeks or the Italians. That's what I call a coup d'etat.

[Flyingheart]

Yeah the largest countries always have the control.. Germany and France that is.. but the thing is that the Euro should have NEVER been introduced in the first f*ckin place, our living expense went up with f*kin 50%! we were like WTF is this sh*t?! in the beginning.. everything twice as expensive but nobody said anything.. and now those dumb*asses tell us we were living to expensively here.. no f*kin sh*t Sherlock! and from what i know is that Greece had almost or no income as a country also because the Danish were also making Feta.. but if you buy Feta you think it's from Greece, but if you take away the Feta from Denmark then they are going to get in trouble.. the system doesn't work and the super rich and those *ssholes who introduced us to the Euro did half the job at really making sure everything is in balance in Europe and create some safety nets but instead filled their pockets and screwed everybody over.. and guess what.. the same political people who introduced the Euro are still screwing with us while they work in our banks now! ppfff.. it's all f*cked up man.. i read corruption went up with 10% here..
Germany needs its precious Euro or it will collapse.. which means Europe collapses.. and France is kissing Germany's butt all the time for some sweet deals to be made between them and then you watch the news and you have some Asian dudes talk about the problem in Europe is temporary to give us some hope it'll be alright lol, it's as vague as all that vague money that has disappeared into thin air.. and i'm not talking about imaginable money..

I am really curious how this story ends.. next chapter will blend right in with the Middle-East.. and Russia with its plan to produce more weapons then ever before...

[Flyingheart]

No other comments from fellow Europeans here?

[Flyingheart]

I should stop worrying about this stuff and so should others if you do.. its totally out of my/our hands anyways..

[Mr Majestic]

That's the smartest thing I've read so far (in this thread) :borat

[Flyingheart]

Yes and no..

[Xsubs]

[Flyingheart]

Not to mention the bankers FUCKED IT UP AGAIN!!! you fuckin Goldman Sachs!!! Urgghh.. with Facebook.. they do this every fuckin time! Grab money and run, grab money and run! Bunch of fuckers..

The bankers could have stolen the idea from WWII when the Germans used jewish people to create fake money to collapse the British economy but they didn't know it was fake so they used it to finance the war, it's the same thing with this invisable money.. it's all fake and the public can pay the price and suffer for it.. the funny thing is that they are trying to make us all feel guilty that we all lived 4x above our standards and that were paying the price for it all (the normal people) and no one says the super rich have to dark less it's rediculous.. There always have to be back-up money but hey.. Money never sleeps right? Because Banks are greedy Son of a bitches who can't seem to sillence their hunger for MORE MORE MORE $$$$€€€

[Mr Majestic]

People can keep complaining but to "them" this is all a game to separate the haves from the have nots and it's the mindless masses that drive the engine that runs the game...

Let's celebrate by paying top dollar to see movies multiple times, buying all the merchandise, following all the hype and lining up to buy useless devices while wallowing in ignorance and materialism and becoming a product of the system.

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"Advertising has us chasing cars and clothes, working jobs we hate so we can buy shit we don't need. We're the middle children of history, man. No purpose or place. We have no Great War. No Great Depression. Our Great War's a spiritual war... our Great Depression is our lives. We've all been raised on television to believe that one day we'd all be millionaires, and movie gods, and rock stars. But we won't. And we're slowly learning that fact. And we're very, very pissed off."

[Satan's Camaro]

The southern European countries should never have been allowed to join the euro. When countries make 1+1=0 on a daily basis and provide bogus figures to join (and everyone knew they were made up) it shows that this is a political experiment which the politicians want to succeed. Everyone in Europe is different and has different attitudes so one currency can't cover all of them. If it does the Germans have to accept they're going to have to stump up the cash if they want their stupid united states of Europe (but they won't). And the Germans need the euro so they can keep exporting cheaply. If you don't have your own currency you can't control anything. It's like asking the whole of north and south America to come up with a currency of the Americas. It won't work.
The EU is a dictatorship pretending to be a democracy but forcing through rules. Don't follow their rules and you'll be removed (no one voted for the new leader in Italy or Greece).
As far as I'm concerned, let the euro fall and let each country go back to its own rules AMD currency (which we still have thankfully).

[alexsm]

That's not the problem.

The main problem nowadays is that the European Central Bank is not allowed to do any kind of monetary policy. It is not allowed to fund governments, as any other central bank in the world does. So Europe can't adjust the value of their currency by changing the availability of money, something that the Federal Reserve does every day. So governments are trying to devaluate people instead of currencies. Also the only way for European governments to get funds is to ask the private banks, which is insane. There's no legal way for governments to get cheap money, even if they are willing to have some inflation (who cares about 5 o 6 points of inflation in the middle of a huge recession?), or to have control over the interest rate of their bonds.

Also the European mantra is just "eliminate deficit, and then everything will be fine", so we are just cutting spending, cutting investment in everything and letting our industry die of starvation.

Also the UE has lots of structural problems. The economic differences between countries are too big. We have insanely different fiscal pressure between countries. Corporate taxes change from 10% in some countries to 35% in some others, and corporations make really complicated things to pay all their taxes in the cheaper ones. Apple, for example, doesn't pay taxes in Spain while having 11.000 stores. We have too may tax havens inside the EU. If we had some kind of Federal Government re-distributing the money it wouldn't be so big problem, be here what Apple pays in Ireland, stays in Ireland. It doesn't matter if it's the sum of their Spanish, French, Italian and German income.

We also have labor costs varying around 500€/month in some countries, compared to more than 4000€/month in some others. And the interest seems to be to lower some of the highest ones to match the lowest ones. Merkel already suggested they should change regulations so souther Europe are legally forced to have lower wages than northern ones, to turn them into the "European Asia", so their corporations can go there to get cheap workers (because European corporations had been kicked out of Asia by American and Asian ones).