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Author Topic: Europe  (Read 1442 times)

Matt

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Europe
« on: May 16, 2012, 07:37:29 pm »

Ezra Klein is describing a "bank jog" in Greece and Krugman has predicted a Eurodämmerung.

What does it mean?  Will Europe muddle through, or will Greece (and then others) hit the wall?  Do any of our European users have an angle we might not hear in the US?
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Matt Ashland, JRiver Media Center

JimH

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Re: Europe
« Reply #1 on: May 16, 2012, 07:49:05 pm »

It's a serious problem.  It's ironic that it's the week Facebook is supposed to make their big splash.
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InflatableMouse

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Re: Europe
« Reply #2 on: May 19, 2012, 08:08:03 am »

Literally translated dämmerung means dusk or mist, in a looming or threatening kind of way. I'm by no means an expert on the subject but I'll share my unique perspective :P

No amount of euros would have saved Greece because the Greek never really wanted that kind of help. Euro countries played hardball on Greece to reform and save but when Spain, Portugal, Germany, France and finally the Netherlands came in short on their cuts the Greek turned around calling us hypocrites and told us to practice what we preach. I think most countries didn't, the government in the Netherlands fell and their planned savings are no joke and will hit the already vulnerable the most.

What's going to happen is what should have happened right from the start: Greece will exit the EU. Whether the Euro will fall I don't know but I do know that all the billions that we pumped into Greece, Spain and Portugal are lost and are the main reason why the Euro is loosing stability. We should have kept all that money in our pockets and it would have kept the Euro and ultimately the EU more stable after Greece had left. That doesn't mean Greece should not have received any help, just in a different form.

You say Greece and possibly other countries will hit a wall; as if they haven't already. I believe many countries have hit a wall, it just takes time for the cracks to show. We are not allowed to muddle through, not this time.

The next one on the list is China and when that comes down it will be unlike anything we have ever seen before.
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