Eurozone will collapse...

[Osem]

I've heard a few commentators saying that this deal has as much to do with saving Sarkozy's job than anything else and I tend to agree. The Eurocrats in Chief just can't seem to accept that this thing cannot work in its current form and they're chucking yet more money at it in order to save face. The Greeks are in between a rock and a hard place but I tend to think the shorter term extreme pain of default would be better than the slow and painful torture they're going to suffer at the hands of the German/French led troika.

[Osem]

Greece is braced for large protests against further budget cuts, following a 130bn-euro (£110bn; $170bn) bailout deal aimed at avoiding bankruptcy.

There are fears of more violence during the rallies called by trade unions as the public mood hardens, a BBC correspondent in Athens says.

http://www.bbc.co.uk/news/world-europe-17123199

I wonder if the political and other strings attached to this financial 'assistance' are alerting the leaders of certain other member states to the notion that, if the going gets tough, they and their people could be expendable too.

[Dai]

Originally Posted by Osem

The Eurocrats in Chief just can't seem to accept that this thing cannot work in its current form and they're chucking yet more money at it in order to save face.

Another significant factor is the indecent amount of money that they personally collect while their snouts are in the EU trough.
If the EU falls apart they might lose all those lovely expenses perks, fat pensions and corporate sweeteners.

[Alan Fry]

Originally Posted by heero_yuy

Just kicking the can further down the road. Greece will never be in a position to make good on the deals "thrashed out" AKA cobbled together to save face. It cannot borrow money nor devalue its currancy to stimulate growth which are the only two realistic ways out unless Germany chooses to give them the money with no payback required.

I can't see the German electorate standing for that.

Meanwhile we're not out of it either:



Source

If the German electorate want to prevent a recession in their own nation, give the bailout without a payback!

---------- Post added at 09:31 ---------- Previous post was at 09:30 ----------

Watch this Newsnight episode about Grecce

http://www.bbc.co.uk/iplayer/episode...ht_17_02_2012/

Originally Posted by Alan Fry

If the German electorate want to prevent a recession in their own nation, give the bailout without a payback!

---------- Post added at 09:31 ---------- Previous post was at 09:30 ----------

Watch this Newsnight episode about Grecce

http://www.bbc.co.uk/iplayer/episode...ht_17_02_2012/

Perhaps they need to wait a few years until the newly planted copses of money trees are fully grown....

[Osem]

Originally Posted by Hugh

Perhaps they need to wait a few years until the newly planted copses of money trees are fully grown....

No doubt they'll qualify for EU subsidies on those and the numbers planted will mushroom miraculously overnight.....

---------- Post added at 21:05 ---------- Previous post was at 21:04 ----------

Originally Posted by heero_yuy

You vill pay ze taxes or else.

Reuters source

Yes, I can see the Greeks just loving that idea....

[Osem]

Originally Posted by heero_yuy

Source

Could be interesting as they thought the Irish were going to put this through on the nod.

Perhaps they don't fancy being next in line for the German 'medicine'....

[Osem]

Originally Posted by heero_yuy

I thought that the Irish had applied a stitch in time and managed to avoid getting into the Greek position.

I wonder how many times they'll be asked this time before they get it right.

They've borrowed themselves some time for sure (and of course the UK taxpayer has stumped up too via large bilateral loans) but sooner or later the Germans, who're calling the shots, will start wanting to dictate financial policy elsewhere in the Eurozone and countries like Ireland, Portugal, Spain and Italy are in line for their very own variation on the Greek treatment I reckon. That'll be the quid pro quo...

Sometimes people need a little help to make the 'right' decisions so, yes, it might require the question to be asked more than once.

[Derek]

I wonder how many times the EU will make them run this referendum until they give the 'right' result.

[Osem]

Originally Posted by Derek

I wonder how many times the EU will make them run this referendum until they give the 'right' result.

"You vill say yes!...."

[Alan Fry]

Originally Posted by heero_yuy

Source

Could be interesting as they thought the Irish were going to put this through on the nod.

They will have no choice, if they vote no, then they will be given the vote again (othewise the Eurozone will collapse!)

---------- Post added at 08:51 ---------- Previous post was at 08:49 ----------

All this will result in the political map of Europe being changed, whether it is for the better or worse, well that is another matter!

[denphone]

http://www.bbc.co.uk/news/world-europe-17230760

All but two of the EU's 27 leaders have signed a new treaty to enforce budget discipline within the bloc.

The "fiscal compact" aims to prevent the 17 eurozone states running up huge debts like those which sparked the Greek, Irish and Portuguese bailouts.

To take effect, the pact must be ratified by 12 eurozone states.

UK Prime Minister David Cameron, who with the Czechs refused to sign, said his proposals for cutting red tape and promoting business had been ignored.

But the newly re-appointed President of the European Council, Herman Van Rompuy, said British calls to boost the EU economy were being taken seriously and he had sought to re-draft the summit's conclusions accordingly

Well we shall see.

Originally Posted by denphone

http://www.bbc.co.uk/news/world-europe-17230760



Well we shall see.

I thought that all erozone states had to agree for it to be ratified ,i thought that was point of cameron using his veto ,or did the goal posts get shifted to allow a minimum of 12 states ?

[Alan Fry]

Originally Posted by denphone

http://www.bbc.co.uk/news/world-europe-17230760



Well we shall see.

We are now a step closer to a United States of Europe!

When (and how) will it happen, well we will wait and see!

In your dreams, Alan....