Happy EU Day!

[Sooner5030]

What a great idea this turned out to be. Maybe it was a great idea and they just expanded too fast. I dunno. I can't really blame the germans for telling greece to eat it. Why watch your currency devalue just to support a population that works less than you, retires earlier than you, and probably wouldn't do the same in return.

Good to see europe back in the news though. Lets us see how different methods/levels of austerity worked or didn't work. So we can prepare for our own moment of truth. Not sure how soon we'll hear "contagion" and "counter-party risks" in the news again. Prolly in the next 3 months. This brit seems have a shiaty viewpoint on the EU.


http://www.youtube.com/watch?feature=player_embedded&v=hJ6_Ey_MJV4

[diverdog]

What a great idea this turned out to be. Maybe it was a great idea and they just expanded too fast. I dunno. I can't really blame the germans for telling greece to eat it. Why watch your currency devalue just to support a population that works less than you, retires earlier than you, and probably wouldn't do the same in return.

Good to see europe back in the news though. Lets us see how different methods/levels of austerity worked or didn't work. So we can prepare for our own moment of truth. Not sure how soon we'll hear "contagion" and "counter-party risks" in the news again. Prolly in the next 3 months. This brit seems have a shiaty viewpoint on the EU.


http://www.youtube.com/watch?feature=player_embedded&v=hJ6_Ey_MJV4

I hope you are not going to beat me up again because I agree with you.

The Euro was a bad idea for many reasons. The only economies that won out were the economies of the less developed European nations like Italy, Greece, Spain, Portugal, etc. Italy was a great deal and the moment the Euro went into effect it became expensive.

On a different note I found out that my company is the acting trusteee for the Greek bonds:

http://news.yahoo.com/wilmington-trust-appointed-trustee-greek-sovereign-debt-restructuring-161024239.html

[AlboSooner]

They're primed for a Moslem takeover. What a shame that such a great continent has fallen so far.

[Sooner5030]

I hope you are not going to beat me up again because I agree with you.

The Euro was a bad idea for many reasons. The only economies that won out were the economies of the less developed European nations like Italy, Greece, Spain, Portugal, etc. Italy was a great deal and the moment the Euro went into effect it became expensive.

On a different note I found out that my company is the acting trusteee for the Greek bonds:

http://news.yahoo.com/wilmington-trust-appointed-trustee-greek-sovereign-debt-restructuring-161024239.html

I'm not drunk tonight so nothing like that will happen.

I think that even if some of the countries get kicked out or if the whole union collapses that it will be currency only and the other agreements will stay in place. Greece is in a very bad place....they don't have the personal wealth or savings like the Spaniards and Italians do. If they have entered the feedback loop of "austerity leads to contraction, which leads to lower tax revenues, which leads to more austerity" then they may severe rioting and unrest in the next few years. kinda sad.....I liked the plaqa area and some of the islands.

[soonercruiser]

It did seem like (besides some Shiaty looks) that the Brit got a good reception for the speech.

But, it was the worst attendance I have seen since Obama's re-election announcement!