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This is a topic from the Current Politics and Religious Topics forum on inthe00s.
Subject: European Union Finances out of Control ?
Written By: LyricBoy on 05/10/10 at 8:54 am
Just read where the boys across the pond have approved a $750 billion bailout fund, basically to prop up insolvent government debt.
http://news.yahoo.com/s/ap/20100510/ap_on_bi_ge/eu_europe_financial_crisis
One has to wonder... A week ago we were talking about a mere $140 billion to prop up the Greeks. Now they are putting up a $750 billion fund? ???
I am suspecting that problems over there are worse than they have been revealing to the public. An EU Commissioner said that "We shall defend the euro whatever it takes". However, if in fact the entire $750B package is executed, the massive increase in the money supply will push inflation up and lead to a relative DROP in the Euro currency.
Additionally, if any borrowing country under this program defaults against their loan, tremendous resentment is going to build up in the lending countries.
Subject: Re: European Union Finances out of Control ?
Written By: MaxwellSmart on 05/10/10 at 11:07 am
...And it took a wheelbarrow full of Euros to buy a loaf of bread.
:o
Subject: Re: European Union Finances out of Control ?
Written By: Macphisto on 05/10/10 at 7:45 pm
Well, it's like this. As bad as things might get here economically...
...at least we're not in the EU.
Norway and Switzerland were the smart ones.
Subject: Re: European Union Finances out of Control ?
Written By: MaxwellSmart on 05/10/10 at 10:26 pm
Well, it's like this. As bad as things might get here economically...
...at least we're not in the EU.
Norway and Switzerland were the smart ones.
It's easier to govern ten million people all sharing a common ancestry than 310 million people and a whole patchwork of ancestries.
Subject: Re: European Union Finances out of Control ?
Written By: Macphisto on 05/10/10 at 10:44 pm
It's easier to govern ten million people all sharing a common ancestry than 310 million people and a whole patchwork of ancestries.
Indeed, which is why sovereignty is a good thing. Europe should end the EU.
As for America... Well, we might split up eventually anyway.