[t]http://imgkk.com/i/a94c.jpg[/t]
[url]http://www.bbc.co.uk/news/business-22832471[/url]
[quote]French President Francois Hollande has declared an end to the eurozone debt crisis, which has gripped the region for the past four years.
"What you need to understand here in Japan is that the crisis in Europe is over," he told Japanese business leaders on a trip to the Far East.
Much of Europe is suffering from high unemployment and recession.
As recently as April, there were fears about the future of the euro due to confusion over bailing out Cyprus.[/quote]
best picture ever
Well the markets and investment are often based on optimism so maybe his gameplan might pull a few million Euros back. I mean nice try but everybody knows things are not right.
[QUOTE=painthitler;40959614]Well the markets and investment are often based on optimism so maybe his gameplan might pull a few million Euros back. I mean nice try but everybody knows things are not right.[/QUOTE]
How are things not right?
[QUOTE=Sobotnik;40959618]How are things not right?[/QUOTE]
Debt vs GDP, financial bailouts, the taking of Cypriot savings and Spanish, Italian, Portugese economies on the brink.
[QUOTE=painthitler;40959660]Debt vs GDP, financial bailouts, the taking of Cypriot savings and Spanish, Italian, Portugese economies on the brink.[/QUOTE]
Debt vs GDP doesn't matter.
In what way are the bailouts destroying the economy?
The Cypriot savings was money put there by tax dodgers iirc.
Since when are the Spanish, Italian and Portuguese economies on the brink?
Hollande stop fucking up. It's like Socialists in France want to make sure the President is conservative 90% of the time.
The Euro zone crisis isn't over.
[QUOTE=Sobotnik;40959667]Debt vs GDP doesn't matter.
In what way are the bailouts destroying the economy?
The Cypriot savings was money put there by tax dodgers iirc.
Since when are the Spanish, Italian and Portuguese economies on the brink?[/QUOTE]
I said debt and meant spending, my mistake.
The bailouts are destroying the economies because it tells the bankers and financial institutions that theres a safety net if they screw up with risk taking. The reforms on keeping cash reserves was a good idea however.
Not all of the money in Cyprus was tax dodgers, many Brits retire there with other Europeans and they are not tax dodgers like the wealthy people who live there.
Spanish, Italian and Portugese economies are on the brink because they are slashing spending with a high unemployment. The infrastructure will suffer in time and the books won't balance. Cheap labour might tempt investors in though but the Euro existing in a 2 tier Europe will complicate things.
[QUOTE=person11;40959712]Hollande stop fucking up. It's like Socialists in France want to make sure the President is conservative 90% of the time.
The Euro zone crisis isn't over.[/QUOTE]
Holland betrayed the people of France, he's everything but a socialist.
[QUOTE=painthitler;40959713]I said debt and meant spending, my mistake.[/quote]
It's no problem as long as your country grows out of debt.
[quote]The bailouts are destroying the economies because it tells the bankers and financial institutions that theres a safety net if they screw up with risk taking. The reforms on keeping cash reserves was a good idea however.[/quote]
We learned from our mistakes, if only a little. We can make these problems less sharp in the future.
[quote]Not all of the money in Cyprus was tax dodgers, many Brits retire there with other Europeans and they are not tax dodgers like the wealthy people who live there.[/quote]
Well something had to be done to recoup the money for the state.
[quote]Spanish, Italian and Portugese economies are on the brink because they are slashing spending with a high unemployment. The infrastructure will suffer in time and the books won't balance. Cheap labour might tempt investors in though but the Euro existing in a 2 tier Europe will complicate things.[/QUOTE]
Yes, austerity. The reasoning goes that eventually it will pick up again. That's why interest rates are low and quantitative easing is being conducted, so as to encourage spending to pick up.
Smurfy, I've been meaning to ask, what the fuck happened with the Kim Kardashian shit a while ago?
[QUOTE=Sobotnik;40959817]It's no problem as long as your country grows out of debt.
We learned from our mistakes, if only a little. We can make these problems less sharp in the future.
Well something had to be done to recoup the money for the state.
Yes, austerity. The reasoning goes that eventually it will pick up again. That's why interest rates are low and quantitative easing is being conducted, so as to encourage spending to pick up.[/QUOTE]
Growing out of debt will depend on a few things, inflation devaluing the debt is one of them but to do that you have to stop the debt growing.
Stealing from savers does not help recoup things for the state, it destroys confidence and makes savers look elsewhere if their investments might be pickpocketed by the EU.
Low interest rates also have a price. 5% is a level we should be at once things start picking up, they should not be near zero.
[QUOTE=Reds;40959818]Smurfy, I've been meaning to ask, what the fuck happened with the Kim Kardashian shit a while ago?[/QUOTE]
You do know we have PM's for that sort of stuff, right?
[editline]9th June 2013[/editline]
Sorry, but until we end austerity, the crisis ain't over. 0.2% growth is not over.
Is the joke with the photo that he can't see how fucked up things still are?
Demagogy is such a great new trend in the European Political Scene.
Somehow I think the 25% of Spain and Greece that are unemployed might have something to say about that.
[QUOTE=Used Car Salesman;40967417]Somehow I think the 25% of Spain and Greece that are unemployed might have something to say about that.[/QUOTE]
Hence some moves to boost aggregate demand might be in order.
Spain begs to differ.
I hope the EU commission's recommendations to Belgium some weeks ago were the beginning of a less neoliberal course, because they told Belgium to keep doing structural reforms (understandable because this country's administration is bloated as fuck) and focus on long-term investments.
As someone who lives in southern Europe (Portugal) i can very much say Fuck you hollande this shit is worse than ever
I can't imagine how a Frenchy socialist feels:
"Hey, this guy seems so COOL compared to all those other assholes! Let's vote him! Yay"
Hollande gets elected and then....
FRANCE SENDS TROOPS TO MALI
"Well, but wha-"
HOLLANDE STATES EVERYTHING IS BACK TO NORMAL ON THE EUROZONE
"Fuck you"
everything's back to the new normal gosh keep up guys
[QUOTE=Cutthecrap;40969855]I can't imagine how a Frenchy socialist feels:
"Hey, this guy seems so COOL compared to all those other assholes! Let's vote him! Yay"
Hollande gets elected and then....
FRANCE SENDS TROOPS TO MALI
"Well, but wha-"
HOLLANDE STATES EVERYTHING IS BACK TO NORMAL ON THE EUROZONE
"Fuck you"[/QUOTE]
Pretty much this, but more fucked up and violent :suicide:
[QUOTE=Sobotnik;40959667]Debt vs GDP doesn't matter. [/quote]
no
[quote]In what way are the bailouts destroying the economy?[/quote]
implicit guarantees of bailouts cause economic fragility
[quote]The Cypriot savings was money put there by tax dodgers iirc.[/quote]
no, they weren't
[quote]Since when are the Spanish, Italian and Portuguese economies on the brink?[/QUOTE]
have you seen their unemployment rates, trade deficits and GDP growth forecasts?
It's not gone but not as bad as it was a couple of years ago.
[QUOTE=Cutthecrap;40969855]I can't imagine how a Frenchy socialist feels:
"Hey, this guy seems so COOL compared to all those other assholes! Let's vote him! Yay"
Hollande gets elected and then....
FRANCE SENDS TROOPS TO MALI
"Well, but wha-"
HOLLANDE STATES EVERYTHING IS BACK TO NORMAL ON THE EUROZONE
"Fuck you"[/QUOTE]
Mali was pretty much the only good decision he has made besides gay marriage.
Meanwhile* Central banks keep printing more & more money.
The crisis haven't even begun yet. just wait, we're in for a big suprise...
[QUOTE=DainBramageStudios;40971013]no[/quote]
yes
well, maybe not if you don't have your own currency
if Spain had their own currency, they could probably get out of their debt problem more easily
[quote]implicit guarantees of bailouts cause economic fragility[/quote]
no, they weren't, the role of market failure in the recent financial crisis is underestimated and yet it is also believed that we can somehow commit to a policy of no future bailouts. promoting that will make future bailouts more likely
[quote]have you seen their unemployment rates, trade deficits and GDP growth forecasts?[/QUOTE]
yes, that's mostly because of austerity at the moment (a policy which (supposedly) causes unemployment to skyrocket and the economy to contract in the short term, before recovery can take place)
[editline]10th June 2013[/editline]
[QUOTE=Tengil;40971188]Meanwhile* Central banks keep printing more & more money.
The crisis haven't even begun yet. just wait, we're in for a big suprise...[/QUOTE]
what crisis this going to cause?
hyperinflation? because the economy isn't fucked
[QUOTE=bubbagamer;40959717]Holland betrayed the people of France, he's everything but a socialist.[/QUOTE]
Can't tell if you're using phrase right or wrong.
Do you mean he is a socialist or that he isn't?
God damn the uneducated peoples rape of language.
[QUOTE=Tengil;40971188]Meanwhile* Central banks keep printing more & more money.
The crisis haven't even begun yet. just wait, we're in for a big suprise...[/QUOTE]
I can guarantee with 99,9% certainty the inflation will be neglegible.
[editline]10th June 2013[/editline]
[QUOTE=Bomimo;40971227]Can't tell if you're using phrase right or wrong.
Do you mean he is a socialist or that he isn't?
God damn the uneducated peoples rape of language.[/QUOTE]
He is in name only
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