Feb. 12 (Bloomberg) — At the heart of the European debt crisis is the euro, the currency that tied together 18 countries in an intimate manner. So when one …
Clickbank Market Place
Find your Favorite Products
Feb. 12 (Bloomberg) — At the heart of the European debt crisis is the euro, the currency that tied together 18 countries in an intimate manner. So when one …
united states of europe sounds great but need work on the name, USA sounds
great but… USE?…
Monetary AND Fiscal, or none of them?
I’d rather see NONE OF THEM!
Why? Because a United States of Europe would NOT achieve any better results
than United States of America.
Let the dumb idiots running one country take them selves down to
bankruptcy, and the smart idiot take them selves and the whole country to
utopias, rather than risking taking the whole continent down to bankruptcy.
He omits the one really huge thing that was creating the credit crisis, the *derivatives
market* which by far dwarfs everything else he mentioned. Then, although
the housing bubble was bad, much worse was the uncertainty created by the
*triple-A* junk bonds, or mortgage backed securities sold so eagerly by
American banks. They poisoned everything else.
But one more thing, by far the most of existing Greek debt was carried over
from the US-backed military dictatorship, and its huge defence spending
when the US co-signed Greek debt, and then naturally withdraw its backing
from democratic Greece.
Also, the European debt was also created by a housing bubble, like the
Irish example, which happened because the credit market was flooded by
Asian money that liked to invest in housing mortgages. And that had little
to do with ECB monetary policy.
So, Euro has problems, but Americans have *always* blackballed Euro,
because it’s seen as a competing currency. Which is just because they
always have to be number one. But Euro is not reversible. And all Euro
countries together owe less than the US does, as percentage of GDP. And the
fiscal, political and banking union is happening. Not on treaty level yet,
but as de facto realities in Euro area politics. The Euro contagion isn’t
happening, despite all the blackballing since its creation. Greece is on a
path to better practice and predictability, accepting standards and not
letting deficits accumulate.
And also, he speaks as though Bretton Woods still mattered. It was scuttled
in 1974. Of course you don’t want your currency to be too volatile and
risky, but a certain volatility is always expected in freely traded
currency.
(sorry for my English I’m French) nah, so much propaganda in one single
video! i did not know that a loan is ”help” for the people… the new
imperialist method to take over a country is without war, war is expensive
and hard to control situations inside the country and outside of course in
international policy. we have seen that kind of plan many times in the
past, like Argentina, Panama, Ecuador.. But in Panama and Ecuador the
governments are not bribes and the economic hitmans were thus created
scandals against them and in the end, they murdered both Prime Ministers of
those two countries. After that disaster, IMF suddenly invaded the economic
space of these countries and forced them to getting loans, Now of course
the governments were traitors and signed the condemnation of their people.
If you get a loan and you know that you cant pay back and you dont have any
power of military or banking systems then you know that you must get loan
again n again, is a vicious circle. When you get to big debt capable is
time someone to stop you, then the bankers show up and acquiring all the
country (companies, oil, national treasures.
That is happening in Greece now, traitors governments signed contracs with
bankers to get loans. The loans doesnt go to the people of the country, but
to others bankers with debts, and large companies that promise you useless
projects projects like some roads that doesnt needed and stuff like that.
Lets do an example. I am one of those 10-15 guys who control all the system
(like Rothschild) and i owed some big companies and these companies are in
control by others bigger companies and banks. ( look here what i try to say
http://prntscr.com/2sco83 ) My Bank gives a loan to my obedient government,
of course the traitor governments is in the plan, and the money from the
loan are going to other ”Greeks” banks and companies. (European Bank says
that loans went to Greece only 2% went to public system like schools,
hospitals the other 58% went to banks and the final 40% back to IMF for the
”started” debt ). But we must fine some reason for these ”bad things”.
We must find the ”black sheep” to blame for all this. Ah yes the Greek
people! We must show by the media that the laziness of Greek people is
responsible for the collapse of fck system! BUT that isnt the true.. The
table shows the actual hours worked per country. France and Finland have
fewer hours worked while Romania and Luxembourg most. -> here
http://prntscr.com/2scuqc
The map shows leave days per country. France and Italy are among the
countries that have most days leave of 25 days, while Greece and Finland
are among the countries that have fewer days off. -> here
http://prntscr.com/2scunr
Here you can see
http://www.eurofound.europa.eu/eiro/studies/tn1305017s/index.htm
And they have other excuses, like ”The military of Greece is very
expensive”
yes it is.. while they have 1300+ tanks in active, they are the first in
EE. (the second one is Italy and they have 600 tanks) Tanks like Leopard
2a6 (2HEL) leo 2a4 , 1a5 and others, F-16, Mirage, (now they are talking
for T-50 PAK FA)
Apaches, chinooks, and a lot of navy power while they have Active
Military 197,600 Active Reserve 380,000 and they have 11 million people in
whole Greece.. While USA with 370million people has only Active Military
1,400,000 Active Reserve 850,000. Yeap its pretty big military… but like
Nigel Farage say, Greece has a lot of work in south east europe, Greece has
many neighbors in Balkans you cant say that is the same to have Albania and
Belgium or Turkey with Holland.Greece and Turkey is like North and South
Korea.. while an attacking policy like Turkey (who kill their own people,
look taxim) clearly indicate their intentions about Cyprus, they try to
snick to Armenia and know to Syria. Cyprus is under the protection of
Greece (and Israel now) because of Turkey… Thats why the military is so
big and expensive. When NATO and EE cant handle a peace to the area.
Oh i forget one thing… I remember George Papandreou says that Greece
doesnt has oil gas and other coal. But after the signatures that selling
off the Greece suddenly they find oil and gas uranium and osmium!
http://www.forbes.com/sites/christophercoats/2013/12/12/how-real-is-greeces-oil-and-gas-future/
http://youngpetro.org/2013/11/03/greece-a-new-european-oil-and-gas-zone/
Τhe source in southern Crete is the world’s largest source of gas.
In between Castelorizo and South Rhodes is the second largest oil deposit
in the world.
Lignite: As mineral to produce energy by burning with scarce environmental
contamination. Greece has so much coal, that if you operated early on,
would save many billions of oil imports.
Aluminium: For some years France decreased its production of aluminum and
now Greece is first in Europe in the production of aluminum, with thousands
of applications.
Bauxite: Greece is the largest producer in the European Union. Bauxite is
used in aircraft, electrical equipment, steel structures and elsewhere.
Manganese: Greece is the only country in the European Union containing
subsoil deposits of manganese. The main deposits have been identified in
the prefecture of Drama.
Nickel: And this strategic mineral as Mr Papageorgiou, Greece is the only
country in the European Union with significant nickel deposits in the
subsoil. There is a nickel plant, the largest in the European Union, but is
exported abroad like almost all the rest you mined.
Smectites: Greece is the second country in the world after the United
States mining smectites, which have a wide range of applications, such as
waste disposal, medicines, cosmetics and others.
Magnesium: The magnesite exported by our country, covering 46% of total
production in Western Europe.
Chromite: The Greece is the only EU country that contains the subsoil
significantly exploitable deposits of chromite. The most important deposits
are located on Mt Kozani and used mainly for the production of stainless
steel.
Uranium: As already mentioned, the minerals have been identified in
Central Macedonia and Thrace. The issue of April 28, 1999 the newspaper
“Athenian” was entitled “Treasury Northern Greece” and refers to this very
subject.
So many sources to ”pay the debt” (
http://www.economist.com/content/global_debt_clock) why the government of
Greece doesnt use the loans to utilize those sources? When they do (haha)
will not only pay off the debt but we will talking about new superpower in
the world…
Why they dont want to leave Greece to pay the loans? I think you know the
answer
Man. Euros are as stupid as they are homosexual.
surely that greece has its own version of events: GIVE US MORE MONEY YOU
GREEDY NAZIS, ANGELA MERKEL IS A NAZI HITLER AND SHE WONT GIVE US MORE
MONEY, GOLDEN DAWN ROCKS, FUCK YEAH!!!!!!
There’s a share of responsibilities, Greece has its own, Germany too and
the ECB handled the debt crisis badly cause their policies were mostly
Germany-oriented.
Saying “all the corruption money in Greece was from German companies” does
not describe fairly the situation. If you corrupt someone it’s because on
the other hand there is someone available to be bribed..
I’m italian and i think that all this discussion about finding the real
culprit is useless, better begin trying solving the problem. Greece had to
understand how to manage and to solve theirs (pensions, internal
corruption, immigration reforms), Italy too has to do their reforms and on
the other hand Germany and chancellor Merkel have to understand the need of
fiscal movement in the eurozone and the creation of euro bond (those two
had to be bound to regulations)
If Germany keep with a political opposition on LTRO in the medium term, and
on EuroBond in the long run €uro will face strong setbacks on his path
If you show this video to kindergarten kids, I’m sure all the kids will
understand this lesson, and will certainly not make such a mistake in their
lives. It is very simple and logical. Hum!!! My grandmother was saying all
this to me.. Don’t spend what you don’t have…
I do not understand what those economists, bankers and Politicians learned
in universities and schools. Sure during lectures they where playing rosary
beads or pocket billiard. Lol
This is the bitter truth.
Hope all our countrymen watch this video and understand the urgency of it.
Yes, the European countries were relieved from the war restrictions with
the help of the EU, but what happened with the countries on the edge of
Europe (Greece) who still have huge enemies to compete with?
This video does not mention that all the corruption money in Greece was
from German companies like Siemens, Ferostaal of the MAN group, and others
that are currently being investigated for corrupting the Greek state for
army equipment sold at multiple times the real price. German banks were
giving dubious loans to the Greek state to buy German weapons.
At the same time Germany who had Greece as their best client of weapons,
never all those years took a solid stance to protect the greek vital space
against the 7 times larger Turkey, which is daily invading the airspace of
Athens flying with fighter jets over the greek islands, occupied half of
cyprus, floods Greece with illegal immigrants from africa, who, in search
for a better future, embark in ghost ships to Turkey where they are aided
to invade the “EU Greece”. Greece accounts for 90% of the illegal
immigrants volume in Europe yet covers the expenses from the greek
taxpayers’ money.All the previous years the EU showed no economical or
political support against those phenomena.
But of course bloomberg decided to cover this issue with the depiction of a
fat “Greek” person with a martini on the beach.
And lets not forget that Germany owes Greece war reparations for war
crimes, infrastructure damage, starvation victims, and nazi army forced
loans from the Bank of Greece during WW2. Those were never paid by germany
whereas they were paid by the other occupant countries Italy and Bulgaria
very well explained, presented in a simple way and very accurate:
nice job Bloomberg, didn’t know they can
Given: Greece, Cyprus, Italy, Spain, France and Portugal never enforced
this tax systems. In many of these nations not paying your taxes became a
national past time. If they enforce it, they could have paid back their
debt or it wouldn’t have been as bad. One good example is Canada, we were
Greece in 1994, the only reason we recovered is we enforced our tax system,
they did not! If they did this would had been minor event.
austerity really is simple measure. It’s just very difficult to implement
and virtually non-existent in the twenty first century.
It’s true the euro was officially introduced in ’99, but coins and notes
weren’t introduced until 2002.
nice
I love the stereotyping here. Lazy Greeks and hardworking Germans. wow!
Talk about kindergarten stuff. You forgot the sleazy Italians, dumb Irish,
snob Brits, fruity French, idiot Americans, crazy Aussies, drunk Russians,
math-wizard Asians and poor Africans… no offense… this is ridiculous.
Stop branding people like this.
One of the best videos I’ve seen on the Euro.
I was into this video until it said the solution to this problem was a
fiscal union, no, Brussels shouldn’t control more; the reason countries
such as Greece were REQUIRED to spend so much was because of Brussels and
what is needed to join the European Union..