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[mmh8]

http://www.telegraph.co.uk/finance/comment/rogerbootle/10439859/Reports-of-the-survival-of-the-eurozone-may-have-been-greatly-exaggerated.html

Reports of the survival of the eurozone may have been greatly exaggerated Last week’s surprise interest rate cut by the European Central Bank (ECB) was largely a response to the looming danger of deflation in the eurozone

Any one out there know much about this. Basically its just Germany as far as I can work out, Germany carries on with its plan to takeover Europe, or Germany decides to carry out financial experiment on rest of Europe, Vat vould happen eeef ve leave the Euro and let ze Frenchies hold it up

[Naam]

reports of the eurozone's unavoidable death byBritish newspapers have always been greatly exaggerated. keep up the good job and "work out" more concerning the alleged take-over of Europe by Germany.

you might be awarded the economic Gobble prize.

[i claudius]

The Eurozone is a failed experiment ,but it will not be allowed to die ,to many people at the top have their noses to firmly in the trough.

[i claudius]

reports of the eurozone's unavoidable death byBritish newspapers have always been greatly exaggerated. keep up the good job and "work out" more concerning the alleged take-over of Europe by Germany.

you might be awarded the economic Gobble prize.

Bur then you would say that wouldnt you Herr Naam?

[Naam]

The Eurozone is a failed experiment ,but it will not be allowed to die ,to many people at the top have their noses to firmly in the trough.

i'd rather say that the €urozone is an experiment that partly failed (as do many experiments). initially all participants benefitted immensely and the part failure is due that individual countries, respectively their governments did not have the foresight to suppress the excesses which led to the current problems.

only time will tell whether the €urozone will survive in its present form without any major amendments.

[i claudius]

The Eurozone is a failed experiment ,but it will not be allowed to die ,to many people at the top have their noses to firmly in the trough.

i'd rather say that the €urozone is an experiment that partly failed (as do many experiments). initially all participants benefitted immensely and the part failure is due that individual countries, respectively their governments did not have the foresight to suppress the excesses which led to the current problems.

only time will tell whether the €urozone will survive in its present form without any major amendments.

The major amendment would be that ,most of the countrys left , to be honest only Germany keeps it all afloat

dont know why you bother.

[davejones]

No major currency union has ever survived more than a few decades. They always fall apart sooner or later because they're always structurally flawed. The Euro is very flawed indeed with no plans to fix the problems. They only thing they're doing is stealing from honest people to prop it up. That will work for while, but eventually it will fail. It's a certainty.

[rgs2001uk]

The Eurozone is a failed experiment ,but it will not be allowed to die ,to many people at the top have their noses to firmly in the trough.

i'd rather say that the €urozone is an experiment that partly failed (as do many experiments). initially all participants benefitted immensely and the part failure is due that individual countries, respectively their governments did not have the foresight to suppress the excesses which led to the current problems.

only time will tell whether the €urozone will survive in its present form without any major amendments.

Oh come Herr Dr, you can do better than that.

It failed because the figures were fudged (QE some may call it, creative accounting may be another term).

Until there is a single bank monitoring the lot it will fail.

The sooner the better, cant wait for the return of the mighty DM, then I can get out of my my pommie pesos and actually invest in a worthwhile currency.

As for major ammendments, lets jettison the freeloaders, if I had gangrene in my fingers, how far do I let it spread before I undergo a surgical procedure?

Tell the PIGS, these are the entry requirements, if you dont meet them, piss off.

[Naam]

The Eurozone is a failed experiment ,but it will not be allowed to die ,to many people at the top have their noses to firmly in the trough.

i'd rather say that the €urozone is an experiment that partly failed (as do many experiments). initially all participants benefitted immensely and the part failure is due that individual countries, respectively their governments did not have the foresight to suppress the excesses which led to the current problems.

only time will tell whether the €urozone will survive in its present form without any major amendments.

Oh come Herr Dr, you can do better than that.

It failed because the figures were fudged (QE some may call it, creative accounting may be another term).

Until there is a single bank monitoring the lot it will fail.

The sooner the better, cant wait for the return of the mighty DM, then I can get out of my my pommie pesos and actually invest in a worthwhile currency.

As for major ammendments, lets jettison the freeloaders, if I had gangrene in my fingers, how far do I let it spread before I undergo a surgical procedure?

Tell the PIGS, these are the entry requirements, if you dont meet them, piss off.

there was only one country with "fudged" figures, namely Greece. but none of the (PIGS) figures did lead to partial failure. the excesses after joining the €UR and having access to cheap money caused the problems.

no surgery unless the patient demands it. that's the sad truth. and as far as "failure" is concerned look at the exchange rate Pommie Pound vs. EURofudge since the inception of the latter and then tell me which currency "fudged" more

talk is cheap, only facts count! and that applies to all of the usual rubbish resident eggsburts and (most of ) the British media publishes when it concerns the "doomed" €UR or the European Union.

[CaptHaddock]

To be clear, the "excesses" that Naam refers to were the excessive trade surpluses of the German economy beginning about 1999 that, coupled with the repression of labor costs, lead to excess capital reserves in Germany which led to excessive capital outflows from Germany to the the Euro zone periphery under the direction of the incompetent banks in overbanked Germany. The result was a housing bubble in countries like Spain and Ireland, which had been running budget surpluses, but trade deficits. The housing bubbles burst as all housing bubbles do leaving the banks insolvent and the labor overpriced in those countries. The only way to reset the wage rates to make Spanish and Irish labor competitive is "internal devaluation" or reduction of nominal wages within those countries or for Germany to permit inflation in its own labor market. Since workers are notoriously resistant to reductions of nominal wage rates and Germans are notoriously resistant to inflation in any degree, there is no solution but for a generational labor depression in the Southern tier of the Eurozone where unemployment rates among the young, for instance, are already at Great Depression levels.

The odd thing is that the German man-in-the-street takes all this as a demonstration of Teutonic virtue, rather than the successful economic victimization of the EU by Germany.

[Naam]

The odd thing is that the German man-in-the-street takes all this as a demonstration of Teutonic virtue, rather than the successful economic victimization of the EU by Germany.

when things go wrong you can't go wrong blaming Germany!

[Naam]

To be clear, the "excesses" that Naam refers to were the excessive trade surpluses of the German economy beginning about 1999 that, coupled with the repression of labor costs, lead to excess capital reserves in Germany which led to excessive capital outflows from Germany to the the Euro zone periphery under the direction of the incompetent banks in overbanked Germany.

BINGO! it is a well known fact that "incompetent" German bankers forced their "excess capital reserves" on various "dolce vita / ClubMed country" citizens south of the Alps by threatening them with Kalashnikovs to accept cheap cash in order to speculate in real estate or just waste it.

[chiang mai]

To be clear, the "excesses" that Naam refers to were the excessive trade surpluses of the German economy beginning about 1999 that, coupled with the repression of labor costs, lead to excess capital reserves in Germany which led to excessive capital outflows from Germany to the the Euro zone periphery under the direction of the incompetent banks in overbanked Germany.

BINGO! it is a well known fact that "incompetent" German bankers forced their "excess capital reserves" on various "dolce vita / ClubMed country" citizens south of the Alps by threatening them with Kalashnikovs to accept cheap cash in order to speculate in real estate or just waste it.

So, it was really Germany who created "sub-prime lending"!

[Naam]

To be clear, the "excesses" that Naam refers to were the excessive trade surpluses of the German economy beginning about 1999 that, coupled with the repression of labor costs, lead to excess capital reserves in Germany which led to excessive capital outflows from Germany to the the Euro zone periphery under the direction of the incompetent banks in overbanked Germany.

BINGO! it is a well known fact that "incompetent" German bankers forced their "excess capital reserves" on various "dolce vita / ClubMed country" citizens south of the Alps by threatening them with Kalashnikovs to accept cheap cash in order to speculate in real estate or just waste it.

So, it was really Germany who created "sub-prime lending"!

of kourse! ze inkompetent Tchermans sekretly inwaded zome big Amerikun bunks und vorked out ze soobprime scheme to konker ze finantchal globahl markets. unfortunately zey failed as zey failed before.

that Germany is also responsible for the tsunami which effed up the Fückushima nuclear power plant and typhoon Haiyan goes without saying.

Edited November 16, 2013 by Naam

[chiang mai]

of kourse! ze inkompetent Tchermans sekretly inwaded zome big Amerikun bunks und vorked out ze soobprime scheme to konker ze finantchal globahl markets. unfortunately zey failed as zey failed before.

BINGO! it is a well known fact that "incompetent" German bankers forced their "excess capital reserves" on various "dolce vita / ClubMed country" citizens south of the Alps by threatening them with Kalashnikovs to accept cheap cash in order to speculate in real estate or just waste it. To be clear, the "excesses" that Naam refers to were the excessive trade surpluses of the German economy beginning about 1999 that, coupled with the repression of labor costs, lead to excess capital reserves in Germany which led to excessive capital outflows from Germany to the the Euro zone periphery under the direction of the incompetent banks in overbanked Germany.

So, it was really Germany who created "sub-prime lending"!

that Germany is also responsible for the tsunami which effed up the Fückushima nuclear power plant and typhoon Haiyan goes without saying.

Good, I'm glad we got that sorted, just make sure you don't do it again, we have talked about this previously. Now, about inflation!

[Naam]

Good, I'm glad we got that sorted, just make sure you don't do it again, we have talked about this previously. Now, about inflation!

vee Tchermans haff also inwented inflashon!

[i claudius]

So its all the Germans fault ,even Naam says so .

[mmh8]

reports of the eurozone's unavoidable death byBritish newspapers have always been greatly exaggerated. keep up the good job and "work out" more concerning the alleged take-over of Europe by Germany.

you might be awarded the economic Gobble prize.

I was under the impression that it 'was' a foregone conclusion Mr Naam, the take over, not sure what is left now ?

Edited November 18, 2013 by mmh8