The EU and Greece economy

[JimboUK]

Papandreou has given in to pressure from other E.U states and called off the referendum, isn't democracy in the E.U wonderful, the Greeks will now have death by a thousand cuts inflicted on them. Meanwhile its emerged that the €1 Trillion bailout fund actually only has €3 Billion in it, you couldn't make it up. :facepalm:

If this wasn't so tragic it would almost be droll.... :wallbash:

 

The whole thing has descended into farce now, the sooner the markets put this zombie currency down the better.

[HeyYou]

but, the idea has taken on a life of its own, and now, its the idea the requires maintenance. Too bad all of it will be for naught, and eventually, it will all come crashing down anyway.

[lukertin]

The United States has done similar things to its States, if you recall. THe offering of money requiring certain behavior. The seat belt law for federal highway funding back in the 70-80s springs to mind. I know its not exactly the same but it isn't like we don't do it here also.

The difference is, first the States impliedly agree to this sort of arrangement, second the money isn't theirs to begin with, and third the States have the ability to refuse to comply without endangering the rest of the USA.

[Lisnpuppy]

I guess you didn't read the line that said..I KNOW IT ISN'T EXACTLY THE SAME?

[lukertin]

I guess you didn't read the line that said..I KNOW IT ISN'T EXACTLY THE SAME?

It's not even similar...why would you even bring it up in the first place?

[Lisnpuppy]

I brought it up to demonstrate that money is used to coerce decisions by governments all over. I did not bring it up to show the US and the Federal government's decisions is exactly like the EU.

 

You don't agree with that fine.

 

Now back to the topic at hand.

[JimboUK]

but, the idea has taken on a life of its own, and now, its the idea the requires maintenance. Too bad all of it will be for naught, and eventually, it will all come crashing down anyway.

 

If the BBC are correct and there is only €3 Billion in that fund then it's already doomed, maybe I'm reading it wrong but the plan seems to be to get the Chinese to fund the thing, quite what makes them think Beijing would risk that sort of money is a mystery.

[Aurielius]

but, the idea has taken on a life of its own, and now, its the idea the requires maintenance. Too bad all of it will be for naught, and eventually, it will all come crashing down anyway.

 

If the BBC are correct and there is only €3 Billion in that fund then it's already doomed, maybe I'm reading it wrong but the plan seems to be to get the Chinese to fund the thing, quite what makes them think Beijing would risk that sort of money is a mystery.

They will own you like they own us....with both blocks in hock up to their eyeballs lets guess who will be calling the shots?

[JimboUK]

but, the idea has taken on a life of its own, and now, its the idea the requires maintenance. Too bad all of it will be for naught, and eventually, it will all come crashing down anyway.

 

If the BBC are correct and there is only €3 Billion in that fund then it's already doomed, maybe I'm reading it wrong but the plan seems to be to get the Chinese to fund the thing, quite what makes them think Beijing would risk that sort of money is a mystery.

They will own you like they own us....with both blocks in hock up to their eyeballs lets guess who will be calling the shots?

 

I'm not sure who owns us, we owe a lot of money.... http://www.economicshelp.org/blog/334/uk-economy/uk-national-debt/

[lukertin]

They will own you like they own us....with both blocks in hock up to their eyeballs lets guess who will be calling the shots?

There's a reason governments aren't set up like corporations, and treasury securities aren't stocks...China says "Do this." USA says "I don't think I want to."

 

Then what? Nothing.