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Thread: Obama: Solving Euro Crisis of ‘Huge Importance’

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    Re: Obama: Solving Euro Crisis of ‘Huge Importance’

    Quote Originally Posted by Rhapsody1447 View Post
    Can you link to some of these? I am not as well versed in the specifics as I should be. All I know is that the Germans are opposed to balance sheet expansion by the ECB which is quite justified given their history with inflation and statutes that were written when the ECB was setup to prevent this very type of thing from happening.
    You are correct on Germany's position and the reason why the ECB is acting the way it is. However, the ECB's recent actions have been at the heart of the problem. The economist has done a very good job covering the euro crisis in my opinion.

    There are some good links on this page. Europe | The Economist

    Also, its a blog, but this blog has done a pretty good job following the euro crisis:

    The euro crisis: Who killed the euro zone? | The Economist

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    Re: Obama: Solving Euro Crisis of ‘Huge Importance’

    Quote Originally Posted by AdamT View Post
    Germany is saddled with much responsibility to resolve the problems of the less successful European states, but let's not forget that much of Germany's prosperity is also attributable to its export economy and the benefits it received from the Euro and Eurozone free trade policies.
    So you're a fan of free trade? I'm surprised.
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    Re: Obama: Solving Euro Crisis of ‘Huge Importance’

    Quote Originally Posted by 1Perry View Post
    Germany does not have the ability to solve Europe's problems.
    Yes it does... Europe can solve its so called problems very easily, but Germany is against the method because of their historical issues with the method.
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    Re: Obama: Solving Euro Crisis of ‘Huge Importance’

    Quote Originally Posted by 1Perry View Post
    And I thought Europe solved this problem many times over already. They were all patting themselves on the back not long ago.
    No, because those that CAUSED the problems are still in control over the economy, and those money junkies won't be happy until they've got ALL the money.

    Quote Originally Posted by apdst View Post
    The Europeans shouldn't one read dime, unless they pass drastic austerity measures.

    Wanna raise my taxes, just so they don't have to cut their out of control spending? Not with my mother****ing money, they won't.
    Austerity CANNOT work. It's not meant to work.

    Oh, and it's only a matter of time before they start talking about American austerity.

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    Re: Obama: Solving Euro Crisis of ‘Huge Importance’

    Quote Originally Posted by PeteEU View Post
    Yes it does... Europe can solve its so called problems very easily, but Germany is against the method because of their historical issues with the method.
    Uh huh. It has nothing to do with the fact the EU is imploding in on itself, it's all those damn dirty KRAUTS!

    Here's a hint folks, THERE IS NOTHING WE CAN DO TO SAVE EUROPE.
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: Obama: Solving Euro Crisis of ‘Huge Importance’

    Quote Originally Posted by AdamT View Post
    So you're a fan of Germany's social democracy? I'm surprised.
    i'm certainly a fan of their decision to balance their budget, limiting deficits to less than a single percentage point of GDP.

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    Re: Obama: Solving Euro Crisis of ‘Huge Importance’

    Quote Originally Posted by Rhapsody1447 View Post
    Can you link to some of these? I am not as well versed in the specifics as I should be. All I know is that the Germans are opposed to balance sheet expansion by the ECB which is quite justified given their history with inflation and statutes that were written when the ECB was setup to prevent this very type of thing from happening.
    Printing Euros and buying up countries debt from the banks with these Euros ... up to a point.

    The big secret is that the EU economy is 15 trillion euros, but our overall debt is only 9 trillion. Even the Eurozone generates more GDP than it has in debt.. so the idea to fix the whole thing would be too pool resources and have the ECB assume the debt as a real national bank and relive the debt via the printing presses. Now that would of course cause inflation but considering the inflation rate in most Eurozone countries is low, then most economists state that the inflation created via the printing presses would not be a problem.

    Now the problem is that the ECB is not allowed atm to assume "national bank" like powers according to the treaty, so it would take a treaty change. But there is a legal way of doing it, but it would require the involvement of the IMF and that is not a road that people want to go down just yet.
    PeteEU

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    Re: Obama: Solving Euro Crisis of ‘Huge Importance’

    Quote Originally Posted by PeteEU View Post
    Printing Euros and buying up countries debt from the banks with these Euros ... up to a point.

    The big secret is that the EU economy is 15 trillion euros, but our overall debt is only 9 trillion. Even the Eurozone generates more GDP than it has in debt.. so the idea to fix the whole thing would be too pool resources and have the ECB assume the debt as a real national bank and relive the debt via the printing presses. Now that would of course cause inflation but considering the inflation rate in most Eurozone countries is low, then most economists state that the inflation created via the printing presses would not be a problem.

    Now the problem is that the ECB is not allowed atm to assume "national bank" like powers according to the treaty, so it would take a treaty change. But there is a legal way of doing it, but it would require the involvement of the IMF and that is not a road that people want to go down just yet.
    You mean intentionally cause inflation to prices and deflation in value of the Euro. I understand the concept, it SOUNDS great on paper, never really works in practice.
    Climate, changes. It takes a particularly uneducated population to buy into the idea that it's their fault climate is changing and further political solutions can fix it.



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    Re: Obama: Solving Euro Crisis of ‘Huge Importance’

    Quote Originally Posted by cpwill View Post
    i'm certainly a fan of their decision to balance their budget, limiting deficits to less than a single percentage point of GDP.
    Most European governments have on paper this. In fact Spain is looking to implement it in their constitution.. and to half a percentage. But there is a huge difference between a piece of paper with ideals on and reality. The German deficit is quite large... but then again everyone has large deficits because we are in a recession.... funny how people and the markets constantly forget that little fact.
    PeteEU

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    Re: Obama: Solving Euro Crisis of ‘Huge Importance’

    Quote Originally Posted by MrVicchio View Post
    You mean intentionally cause inflation to prices and deflation in value of the Euro. I understand the concept, it SOUNDS great on paper, never really works in practice.
    LOL what the **** do you think the US and UK have been doing since 2008? Ever heard of Quantitative easing?

    Difference with the US and UK situation and an eventual European one, is that the Eurozone is already cutting big time in their budgets, where as the US and UK are doing jack****. It would most likely work in Europe simply because the issue in Europe according to the markets and so called experts is the banks and the supposed toxic government assets and if you take that equation out of the whole problem then suddenly things change rather dramatically.
    Last edited by PeteEU; 11-29-11 at 02:16 PM.
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