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cbasu





Joined: 03 Sep 2006
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PostPosted: Sat Oct 22, 2011 7:21 am    Post subject: European Debt Crisis Reply with quote

A few of the relevant EU debt stats are in this New York Times summary sheet (link) and this Telegraph graphic (link).

The key player -- or holdout, depending on how you look at it -- is Germany. Chancellor Merkel appears to be reluctant to the kind of comprehensive strategy that the G-20 is advocating, including the U.S. and Canada.

For a (surreal) behind-the-scenes look at EU governance, let me recommend this Telegraph article (link).


Last edited by cbasu on Wed Oct 26, 2011 5:17 pm; edited 1 time in total
cosmostein





Joined: 04 Oct 2006
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PostPosted: Mon Oct 24, 2011 10:20 am    Post subject: Reply with quote

Sarkozy certainly comes off as a bit of an ass in that article.

Germany and now slowly the United Kingdom seem to be the nations within the EU who are "doing it right" in terms of understanding the importance of a healthy economy.

The Greek government seems to understand that the rest of Europe will not finance their lifestyles and seem to be moving toward necessary cuts.

It should be interesting to see what the final deal amounts the European nations looks like.
cbasu





Joined: 03 Sep 2006
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votes: 2

PostPosted: Tue Oct 25, 2011 4:07 pm    Post subject: Reply with quote

The expectations for a resolution at Wednesday's EU summit meeting appear bleak. As this Oct. 25/2011 Telegraph article points out, a Greek default -- combined with the increasing uncertainty in Italy -- could trigger the same type of derivative-related chain-reaction that brought down Lehman and Bear Stearns in 2008 and led to the financial crisis.

I think what we may be seeing is the beginning of a fundamental restructuring of both the EU and the euro. We may end up with a smaller EU, or at least a smaller Eurozone, with one central treasury department setting fiscal policy for all the member nations and more independence for the ECB in setting monetary policy.

In short, a sustained period of uncertainty lies ahead.
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European Debt Crisis

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