tag:blogger.com,1999:blog-8764541874043694159.post5203577633708498893..comments2024-03-28T12:23:39.665+00:00Comments on Coppola Comment: Magical thinking in Euro WonderlandFrances Coppolahttp://www.blogger.com/profile/09399390283774592713noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-8764541874043694159.post-80635960792230645822011-10-30T19:49:37.111+00:002011-10-30T19:49:37.111+00:00Greece should never have been part of the Euro Zon...Greece should never have been part of the Euro Zone in the first place. This will hopefully make the EU think twice about taking new countries into the Euro Zone and potential entrants as well. Greece and the EU have both suffered fromt this unionBlindfolded Monkeyhttp://www.blindfoldedmonkey.netnoreply@blogger.comtag:blogger.com,1999:blog-8764541874043694159.post-22634516796336446502011-10-30T16:20:49.546+00:002011-10-30T16:20:49.546+00:00This is not so much economic integration as imperi...This is not so much economic integration as imperialism. With money as the army instead of german tanks or Napoleonic infantry.Keithhttps://www.blogger.com/profile/00769952853595228563noreply@blogger.comtag:blogger.com,1999:blog-8764541874043694159.post-53167141617453855662011-10-30T14:08:49.917+00:002011-10-30T14:08:49.917+00:00What is in it for the Chinese?
European nations w...What is in it for the Chinese?<br /><br />European nations with more than 100 million tonnes of goods inwards via maritime shipping*: Belgium. Germany, Spain, France, Italy Holland, UK. One third of that goes to Spain and Italy. Not all of that inward shipping is from China, of course. But it is one example of why maintaining stability in European countries, perhaps for a short period, might be important to China. Nobody wants their distribution channel to break.<br /><br />BE 111.7 6.6%<br />DE 160.6 9.5%<br />ES 248.8 14.7%<br />FR 216.9 12.8%<br />IT 319.5 18.9%<br />NL 333.5 19.7%<br />UK 303.6 17.9%<br />Total 1694.6 <br />Spain/Italy 33.5%<br /><br />http://epp.eurostat.ec.europa.eu/statistics_explained/images/0/0f/Gross_weight_of_seaborne_goods_handled_in_all_ports_%28im_million_tonnes%29%2C_1997-2009_%28table%29.PNGCharliemanhttps://www.blogger.com/profile/13964488383299624526noreply@blogger.comtag:blogger.com,1999:blog-8764541874043694159.post-44902995461535273912011-10-29T21:51:17.403+01:002011-10-29T21:51:17.403+01:00I totally agree, I'll just add comments as an ...I totally agree, I'll just add comments as an appendix. <br /><br />The Stupidity Pact (Stability and Growth Pact or SGP) version 2.0 is not very user-friendly. The motive is hidden in this quote: <br /><br />"There is no example in history of a lasting monetary union that was not linked to ONE state." Otmar Issuing, Chief Economist of the German Bundesbank Council,1991(!)<br /><br />When the SGP affected the core (Germany and France) the budget limit rules were changed (2005). They are not changed for small members.<br /><br />The transfer of power away from elected governments began with the loss of monetary and exchange policies. <br /><br />Independent and elected governments automatically generated deficits and sovereign debts during recessions. Tax revenues fall and unemployment benefits rise. A choice is then presented: accept financial discipline (and Central authority) or face financial terror and chaos. An economic terms of surrender. The dogmatic fixation on austerity enforces it. Democracy is secondary .. something to deal with later. <br /><br />The European Semester completes the transfer of power. It is done without electoral consent to unaccountable un-elected officials and institutions, while each country's electorate either blames each other or gasps at the latest display of financial wizardry.<br /><br />I remember this quote in July. by Jean-Claude Trichet: <br /><br />"Would it go too far if we envisaged ..giving euro area authorities a much deeper and authoritative say in the formation of the country's economic policies if these go harmfully astray?" (http://www.bbc.co.uk/news/business-13641063)<br /><br />Which means, in a ('fixed-exchange' rate) Euro Zone with a permanent North-South trade imbalance, some countries are always more likely to go 'harmfully astray' Does this imply that some countries will be permanently under EC administration?<br /><br />The whole process of EC integration has been very undemocratic. The French and Dutch in 2005 voted against a European Constitution and, when Ireland voted no, it was made to vote a second time to get it 'right'. <br /><br />Greece has taken its medicine. It is now in the European funny farm. Nobody listens to a crazy person. They ought.The Cheshire Cathttps://www.blogger.com/profile/08619547396220504593noreply@blogger.comtag:blogger.com,1999:blog-8764541874043694159.post-50775981612594546502011-10-29T21:49:47.753+01:002011-10-29T21:49:47.753+01:00This comment has been removed by the author.The Cheshire Cathttps://www.blogger.com/profile/08619547396220504593noreply@blogger.comtag:blogger.com,1999:blog-8764541874043694159.post-46413611436500935542011-10-29T12:04:42.905+01:002011-10-29T12:04:42.905+01:00Euro bailout - an animated explanation
Are you con...Euro bailout - an animated explanation<br />Are you confused about what the Euro bailout actually is? So were we! Tom Meltzer tries to explain with the help of his animated friends … <br /><br />http://www.guardian.co.uk/business/blog/2011/oct/28/euro-debt-crisis-animated-explanationpolit2khttps://www.blogger.com/profile/08184279620350984044noreply@blogger.com