EU Headed Towards Break Up

Discussion in 'Politics' started by Buffalo Roam, Mar 27, 2010.

  1. Buffalo Roam Registered Senior Member

    Messages:
    16,931
    We have the French admitting that the E.U. is headed for a inevitable break up over the Greek financial crisis, and are placing the blame at the feet of Germany, Europe's economic strongman.

    Collapse of the euro is 'inevitable': Bailing out the Greek economy futile, says FRENCH banking chief​



    Read more: http://www.dailymail.co.uk/news/wor...-leaders-split-euro-crisis.html#ixzz0jOUGhmmC

    The European single currency is facing an 'inevitable break-up' a leading French bank claimed yesterday.
    Strategists at Paris-based Société Générale said that any bailout of the stricken Greek economy would only provide 'sticking plasters' to cover the deep- seated flaws in the eurozone bloc.
    The stark warning came as the euro slipped further on the currency markets and dire growth figures raised the prospect of a 'double-dip' recession in the embattled zone.


    Read more: http://www.dailymail.co.uk/news/wor...-leaders-split-euro-crisis.html#ixzz0jOUap066


    The euro slid almost 1 per cent to $1.357 yesterday, meaning it has lost 10 per cent of its value since November. The pound rose to 1.14 euros.
    Earlier this week Business Secretary Lord Mandelson's claimed that the single currency had been a 'remarkable success' and that it remained in Britain's interests to join.
    David Cameron ridiculed that claim yesterday.

    He told the Tories' Scottish conference: 'Are this Government the only people in the country who still think that would be a good idea? Our deficit and debt are bad enough without the straightjacket of the euro.


    Read more: http://www.dailymail.co.uk/news/wor...-leaders-split-euro-crisis.html#ixzz0jOUxfLv7

    http://news.bbc.co.uk/2/hi/8586233.stm

    Bitter row

    It is not just innovation that has made Germany, Europe's biggest economy, a world export champion second only to China.

    Described as the sick man of Europe only a decade ago, the country has gone through painful welfare reforms and kept labour costs low.


    So when French Finance Minister Christine Lagarde publicly called on the Germans to start spending a bit more, it sparked a bitter row.

    "In a crisis situation everyone needs to make an effort," Mrs Lagarde told French RTL radio.

    "I think that Germany could take measures to reduce its taxes in order to encourage internal consumption. This could help us in France export our products to Germany, which is our biggest economic partner." ...............

    Berlin has little time for such criticism.


    'Do like us'

    Last week, the Economy Minister Rainer Bruederle proudly unveiled Germany's pavilion at the Shanghai World Expo, opening in May.

    Covered in a silvery mesh that adapts to temperature change, the large futuristic building is designed to showcase "Hi-Tech Made in Germany".


    Germany wants to showcase its hi-tech goods at the Shanghai World Expo
    So when I asked Mr Bruederle what he would tell his French colleague, he came up with a blunt metaphor about competitiveness.

    "Dear Christine, do like us," he said with a smile.

    "What we can do, our French friends can do too. So run along, it's worth it!" ..........................

    Mrs Lagarde would be reassured to see the bustling Galeries Lafayette, the Berlin branch of the French food and fashion emporium.

    Over a delicious tarte au citron in the basement cafe, I talked about the Franco-German love-hate relationship with Claire Demesmay.

    In charge of the Franco-German programme at the German Council on Foreign Relations, she is something of a French import in Germany herself.

    "The French see the Germans as a bit selfish," she said.

    "But the Germans don't understand why the French want to change the European rules. I think the euro could break up if France and Germany continue to go in very different directions."
     
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  3. Pinwheel Banned Banned

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    Unlikely. Besides the 'European Union' and the 'Euro' are different things.
     
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  5. Alien Cockroach Banned Banned

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    And you seem to be gloating about it why?

    BR, please behave more respectfully toward our neighbors. You are embarrassing me and a lot of your other countrymen.
     
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  7. superstring01 Moderator

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    12,110
    The EU will survive. The Euro will survive.

    ~String
     
  8. joepistole Deacon Blues Valued Senior Member

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    22,910
    Amen and Amen, the sky is not falling. One more thing, as the world economies things will improve. Last Friday, it was announced that the US GDP 4th quarter GDP grew at almost 6%. Things are getting better...not worse. As the US economy which is 25 percent of the world economy, so too will the fortunes of other global economies. The economies of China and India continue to expand...so the news is good.

    The bad news is that while things are gettng better much yet remains to be done. And I think we are on the right course. I like the way Obama and the Democrats have not ignored the issues with the national debt. The national debt is one of the remaining problems that must be addressed. That means higher taxes down the road. Republicans like to pretend the size of the national debt just magically appeared when Democrats took the presidency. But the truth is it was lopped onto the national credit card by the previous Republican administrations who:

    - bungled two foriegn wars and paid for it with debt (2 Trillion Dollars)
    - gave huge tax breaks, mainly to the rich, (2 Trillion dollars)
    - giveaways to the drug and insurance industries with Medicare Prescription Drug and Medicare Plus Programs >600 billion.
    - not to mention the effects of failing to enforce existing securities laws and regulations and lessening bank regulations resulting in the greatest economic disaster since the Great Depression. (untold trillions of dollars)
     
    Last edited: Mar 27, 2010
  9. ElectricFetus Sanity going, going, gone Valued Senior Member

    Messages:
    18,523
    Wait a minute the Euro and the EU are the same thing? but how is Britain part of the EU then?
     

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