Greek protests as France, Spain face squeeze

Comments (21)
irisbrock wrote:

These guys are talking for months to take a decision. Germany is ridiculous. They took advantage of the EU now they do not want to take responsibilities. Cmon Miss Angela!!!!

Nov 17, 2011 7:14am EST  --  Report as abuse
Intriped wrote:

The euro fell on the foreign exchanges in response.

And it should come down to earth with the rest of the broke world. Over valued and artificial currency.

Nov 17, 2011 8:19am EST  --  Report as abuse
Intriped wrote:

The euro fell on the foreign exchanges in response.

And it should come down to earth with the rest of the broke world. Over valued and artificial currency.

Nov 17, 2011 8:23am EST  --  Report as abuse
madaboutthis wrote:

@irisbrock

No, the Germans are correct. There is no central government only a bunch of them looking after themselves, no United States of Europe. Every country has the right to look after themselves and the USA should do the same and there is nothing wrong with it. This WTO and so-called global economy is for the birds.

Nov 17, 2011 8:34am EST  --  Report as abuse
IntoTheTardis wrote:

I’d love to take up Lord Wolfson’s offer of £250000 to come up with the least disruptive euro breakup plan, but the more I study it and think about it the more problems one sees. The biggest one is that people holding a bag full of euros will pull their cash out of say, Greece, and run to the nearest euro country rather than take a big loss. Such a scheme would have to be done very quickly. A local currency would have to be put into circulation overnight, an exchange rate declared, banks temporarily shuttered, and a currency exchange program put in place to sop up the euros. It would be absolute chaos if it were to happen to three or four countries at once. And people and businesses would be smuggling their euros into Germany. The euro’s value would crash. What a mess. But, the dollar would be king. Cheap Med vacations for all!

Nov 17, 2011 8:56am EST  --  Report as abuse
irisbrock wrote:

I have no doubt the situation in Europe and manageable. Far from what we had in 2008. However the lack of leadership and union is costing much more than the real cost for their debt. It is a shame that these guys cannot get along and take a decision. The question is Why these guys created EU? It is really a Union or just for things we get benefits? This is a question to you, Mss. Angela!

Nov 17, 2011 9:47am EST  --  Report as abuse
sbwitte wrote:

EU leaders would be better off assuming that widespread defaults have already happened and make them more palatable. Example: pay off any short term bonds with 10 year bonds @ 4% across all countries whose interest rates have already exceeded 4%. If those bond holders are unwilling to accept payment in the form of an IOU (4% 10 year bond), then pay them 25% of what is owed. Force all countries in EU to have an immediate balanced budget, something that should be easier to do with 4% interest instead of 7% interest. Start with this approach, and keep people working to avoid the next recession (depression).

Nov 17, 2011 10:03am EST  --  Report as abuse
Intriped wrote:

The Union was a long term financial set up from what I visually see at this moment to benefit the haves not the have not. Because it seems to take care of the financial family of speculators instead of the broader Union of trade and commerce. At the end of the day it will have to be broken down and re calibrated to the abilities and wealth of each current member state if it is to last into the future. At the moment this does not seem possible because of the artificial gains touted by the stronger nations and they’re inability to part with supposed profits.

Nov 17, 2011 10:52am EST  --  Report as abuse
MickeyMoe wrote:

We are heading for a German Europe. Germany will rise again out of this mess.

Nov 17, 2011 11:21am EST  --  Report as abuse

A bloody mess of piss-poor country management pretty much sums it up. Pathetic excuses for governments, over-inflated unions, and pure laziness sucking the lifeblood out of the economy. If you’re cash strapped and out of business as a country, it’s not the responsibility of anyone to bail you out. Best thing that could happen to these countries is to crash and burn as a serious wake up call they needed.

Nov 17, 2011 12:00pm EST  --  Report as abuse

“Germany will rise again out of this mess…”

Likely because they deserve to.

Nov 17, 2011 12:02pm EST  --  Report as abuse
JohnGavras wrote:

The protests that happened today in Athens and Thessaloniki were for an annual tribute to the Greeks that died at 17/11/1973 fighting against the dictatorship of George Papadopoulos . The people today weren’t protesting against the crisis.
I am Greek by the way and proud of it.

Nov 17, 2011 12:51pm EST  --  Report as abuse
duet wrote:

A novel idea would be for a populace vote to ban their country from borrowing money in the form of bonds or other means and to spend only what you earn or collect in taxes. Borrowing and servicing the debt is a downward spiral that only leads to ruin. A completely balanced budget would be tough in the beginning but maybe if you toughed it out you could actually build a surplus for emergencies and the future. Hahaha.

Nov 17, 2011 2:14pm EST  --  Report as abuse
OmarMinyawi wrote:

These protest will grow, spread and become ugly as long as the old capitalism thinking and interventions are the same. Time to change and try something new.

Nov 17, 2011 2:36pm EST  --  Report as abuse
DrJJJJ wrote:

Captialism is broken folks-it’s imporove the quality of life for millions for decades all over the planet! People are broken, it’s called sin and poor morals & ethics are behind most of our problems! Secularization of church and state has ruined most of these countries!

Nov 17, 2011 2:56pm EST  --  Report as abuse

Greeks must pay their taxes to end the fiscal crisis because revenues pay for governmental programs. Italy, Spain, and France have different problems with banks not lending enough to small businesses that create the jobs with paychecks to generate taxes and, more importantly, new spending with other entities that expand hiring, paychecks, and taxes until recovery occurs. Stacking cash in vaults will not produce the economic growth that Europe needs to emerge from the crisis. European governments should consider using small business administrations to compete against banks and bring the needed investments in small firms. Free enterprise purists may not like this option, but a depression in the EU that engulfs the US will let the Chinese Communists sweep the capitalist countries into the ash heap if history.

Nov 17, 2011 3:07pm EST  --  Report as abuse
NedStark wrote:

Time for “Super Mario” Draghi to take a break from speeches and exhortations for “austerity” and start stocking up on ink supplies for his printing presses. I’d suggest buying in bulk, to save a few bucks. Maybe call Ben Bernanke…he can tell him where to find the best prices.

Nov 17, 2011 3:52pm EST  --  Report as abuse
Adam_S wrote:

Greek police fired tear gas against black-clad youths as protest marchers beat drums, waved red flags and shouted: “EU, IMF out!”

…You’d think the culture that introduced logic to the Western world would themselves know when to employ some now and then. I love you, Greece, I really do, but it’s getting harder and harder to keep loving you when you act like this. Grow up, swallow the 100 bitter pills you’ve been hiding in the cupboard over the past decade or so.

Nov 17, 2011 4:47pm EST  --  Report as abuse
nixonfan wrote:

Even if Merkel were to relent, there is no sign that the Bundesbank would sign onto an Italian bailout, given Jens Weidman’s recent public statements.

Nov 17, 2011 5:35pm EST  --  Report as abuse
miumiuoo wrote:

I believe that the EU will collapse

Nov 18, 2011 3:32am EST  --  Report as abuse
eadn wrote:

Some here have said that capitalism is broken. To it’s current unvarnished form, I’d have to say yes, but any idea run out to extremes will eventual destroy itself just like any person living only to excess. What is needed is regulation at the top and bottom of capitalism such as banning hedge funds and short sales and instead directing the elements of capitalism towards prosperity for all, not just the ones betting against success. Unregulated capitalism has had its sway, socialism has had its time, now the two should be married together towards the prosperity of nations and individuals.

Nov 18, 2011 11:50am EST  --  Report as abuse
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