The real power in the EU

[Ken L]

Interesting that Angela Merkel seems to be able to make EU policy on the fly. Not German policy, but EU policy.

http://www.bbc.co.uk/news/world-europe-31072321

[chesters1]

I think we know Hitlers unification of Europe actually came to fruition ,they call the shots we jump

The Greeks especially don't like Germany owning them

The same with NATO or is it the un?,if america says no no it is

 

Heaven knows why Churchill insisted France was included in his view of europe losers tend to lose all rights over anything

 

Of course the real power is money in brown envelopes from multinationals

Edited January 31, 2015 by chesters1

[Steve Walker]

He who pays the piper...

[Phone]

Chesters1,

 

Perhaps you could explain why the Greeks (and others) took the money in the first place with no intentions of a honest return?

 

Phone

[chesters1]

Chesters1,

 

Perhaps you could explain why the Greeks (and others) took the money in the first place with no intentions of a honest return?

 

Phone

Not sure they took rather than they were forced to take or else ,having the germans essentially running your country forcing you to do things you rather not would annoy any countries leaders its bad enough EU dictats fly about favouring everyone else but you.

Its not money its debt simply write it off ,a german lorry containing billions of euros never went near greece nor did vast sums of gold get posted anywhere

 

Its crazy even small companies can create debt no wonder the worlds full of it ,its not a physical thing so simply write it all off ,people will lose out but they played the debt game like everyone else.

 

Another thing is printing money (printing debt as notes are IOUs) giving it to the banks is pointless it makes them richer give it to the people they will use it to buy stuff helping companies and stores and it will eventually go to the banks but people and companies will get good from it

 

Ask anyone if they wanted their debt removed few would say no ,the banks would wriggle but they would just go on existing and do the exact thing again ,its easy its just a few lines on a bit of paper or presses on a keyboard nothing moves no gold goes anywhere money from air

 

Get every printers in greece printing euros then tell the eu to come and get it all it costs is material and ink ,or just create it from the air like the EU did and tell them the same

Edited February 1, 2015 by chesters1

[Phone]

Chesters1,

 

Ohh

 

Phone

[Steve Walker]

The Greeks took the money because they were flat broke and about to default on their existing debts. It came with strings attached, basically "get your house in order so you can repay your debts". Unfortunately, the level of debt is such that the second bailout was just kicking the can down the road, and the degree of austerity required such that it has further depressed the Greek economy. The Greek people weren't much liking paying their taxes and living within their means within a collapsing economy, so they voted for a party which promised to make people in other countries take the pain instead. Which leaves the EU with a bit of a problem - writing Greece's debt off is politically unacceptable to the countries which it has borrowed from. Defaulting would leave Greece unable to survive without leaving the Euro and printing its own currency, and a messy default and exit would damage the eurozone economy in general. Even a well managed exit wouldn't be great. The Greeks don't want to leave the Euro, nor to repay their debt and live within their means. The Germans don't want to pick up the tab. The EU doesn't want to lose a bit of empire, risk other struggling nations exiting or suffer the economic risks of a default.

 

This is what a currency union without fiscal and political union looks like - like sharing credit cards with your neighbours. It will be tolerated because as far as the European project is concerned, this phase is transitional.

[chesters1]

The greeks should find a big room and invite the germans over ,they should open the door to an empty room just with a bit of paper written out for the amount and say "here is your debt in full"

The germans would probably say have you the gold to back up this ,the greeks should just retort did you have when you did?

 

Debt isnt anything, its a non entity so to take it away costs nothing ,different to a pile of gold ,you cannot dream up gold so debt is an illusion of power over another ,if you dont play the game the power is gone

Simply print euros on a vast scale and send them to the germans ,its just bits of paper not gold ,so long as the paper costs less than the face value you win ,print the biggest notes

Its not bad for your country if you give it to someone else it effects them

Edited February 1, 2015 by chesters1

[Steve Walker]

Printing money would work for Greece, sort of, in that at least it could pay its civil servants - if it had its own currency to devalue. Which it doesn't. It can't print Euros, QE of the Euro is the ECB's remit (which it has just started doing, against German objections).

 

Greece could tell Germany to sod off, but like paying your slate at the local with a rubber cheque, that has consequences.

[chesters1]

http://www.polycapitalist.com/2011/12/greece-has-its-own-banknote-printing.html