Non-existant promises

The Euro keeps its course:

The fun take away for me:

Weinberg believes emerging nations do not want to start paying for rich countries trying to avert economic decline.

Yeah, not to mention that the question isn’t really, for the governments, preventing economic decline; they only care about their governments.

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6 Responses to Non-existant promises

  1. Mountainbear says:

    What countries like Germany, Austria, the UK and others need to do is simple: GTFO of the Euro and EU before it drags us all down into the black hole.

  2. Xpat says:

    The other day Blogfather linked this analysis, which was one of the more informative pieces I’ve read on this. It makes me think a little better of Spain and Portugal, which the author thinks really have undertaken austerity measures and are unfairly treated the same as Greece. I don’t really know if the analysis is correct or not:

    http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/8858604/The-two-halves-of-the-eurozone-are-locked-in-a-broken-marriage.html

    • Mountainbear says:

      I don’t think it’s unfair. They’re southern countries. We in the north, we’re more, as it’s said in German “Schaffe, schaffe, Häusle baue” (lit. “work, work, build home”), while they have their siestas and similar. We have a German “Wirtschaftswunder” after the war, Austria also boomed pretty well back then, but there was never anything even remotely similar in Italy, or any other PIIG. It’s a mentality anda culture issue, again proving that there is no “Europe”/”European” thing. There are different people, different cultures and they don’t mix. Why do we have to pay for their sloppiness? Kick them all out of the Eurozone. Heck, drop the Euro, drop the EU. It’s clearly not working.

      We’re talking countries here, that have been looked down upon and laughed at long before we even had an EU. Italy, Spain, Greece, Portugal, nice vacation places (if you like roasting in the sun) but apart from that the general sentiment among Austrians, Germans, British, Dutch and others was always “lol” when looking at their economic “power” and so on.

      And their austerity measures will hold for how long? Until the moment Greece gets absolved 50% of their debt. There is already talk about doing that. The moment they see there won’t be consequences they will go back to how things were. Why? Because it’s easier.

  3. Xpat says:

    Man. To think that the Greeks, Romans and Spaniards were once the a**kickers and those uncouth Northern barbarians were the slackers.

    • MG says:

      Civilization is a temporary state; if you don’t advance it aggressively those who pick up its strongest pieces from you will, and they will defeat you with them when they advance them.

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