View Poll Results: Does the Greek Bailout Mean an End to the Federal Model of the EU ?

Voters
136. You may not vote on this poll
  • Yes

    98 72.06%
  • No

    29 21.32%
  • It will have no long term effect

    9 6.62%
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Thread: Domino Effect at Work with Euro - Last Days of the Eurozone ? - UPDATE: S & P put EU on Negative Watch

  1. #2896
    Join Date
    Feb 2010
    Location
    Rockall
    Posts
    78,400

    Default Re: Domino Effect at Work with Euro - Last Days of the Eurozone ? - UPDATE: S & P put EU on Negative Watch

    Greek groundhog day is surely about to arrive again ?
    “ We cannot withdraw our cards from the game. Were we as silent and mute as stones, our very passivity would be an act. ”
    — Jean-Paul Sartre

  2. #2897
    Join Date
    Oct 2010
    Posts
    1,832

    Default Re: Domino Effect at Work with Euro - Last Days of the Eurozone ? - UPDATE: S & P put EU on Negative Watch

    Yes, but for what?

    More interesting, Draghi indicates interest rate rises possible '17

  3. #2898
    Join Date
    Mar 2010
    Location
    heart of Europe
    Posts
    22,715

    Default Re: Domino Effect at Work with Euro - Last Days of the Eurozone ? - UPDATE: S & P put EU on Negative Watch

    Draghi

    The global recovery is firming up. In some countries like the United States, this process has been visible for some years, in others like Europe and Japan, the consolidation of the recovery is at an earlier stage. So it is fitting that our discussions are now focusing not only on how to stabilise the economy, but also on how to make it more dynamic – while at the same time improving people’s welfare. At the centre of this debate is the question of how to raise potential output growth, which has slowed from around 2% in OECD countries in 2000 to around 1% today

    Without stronger potential growth, the cyclical recovery we are now seeing globally will ultimately converge downwards to those slower growth rates. Slower growth will in turn make it harder to work through the debt and demographic challenges facing many advanced economies.
    So a central element of efforts to raise productivity growth – and build a dynamic global economy – must involve responding to these concerns about openness. And this is a feat countries cannot accomplish by themselves. Although domestic welfare policies are, of course, essential to the task, a commitment to working together through multilateral institutions is just as important.


    Old-age dependency ratios are rising, putting more pressure on public finances. By 2025 there will be 35 people aged 65 and over for every 100 persons of working age in OECD countries, compared with 14 in 1950.[10] At the same time, public debt levels have surged in those countries from 56% of GDP in 2007 to around 87% today.[11] Only higher potential growth can provide a lasting solution.

    The European experience provides some insights into the opportunities and challenges involved. It also shows the importance of ensuring that, at all times, openness remains under democratic control. Multilateral institutions are necessarily staffed by experts. But it is essential that they always remain accountable to elected representatives who set the parameters and have the final say.

    https://www.ecb.europa.eu/press/key/...170825.en.html
    Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

  4. #2899
    Join Date
    Oct 2010
    Posts
    1,832

    Default Re: Domino Effect at Work with Euro - Last Days of the Eurozone ? - UPDATE: S & P put EU on Negative Watch

    Yesterdays FT -

    "Th[ere] is something to think about as you watch the world’s central bankers grandstanding at their gathering in Wyoming this weekend. They helped get us into this. They aren’t having much luck getting us out. But our elected governments have still ceded such enormous power over our financial system to them that we have no choice but to listen to their every word — if we want to have a chance of figuring out how the next (inevitable) crisis will play out, that is. Of all the things that have happened since 2007 that, I think, is the one that makes the least sense of all."

    Even the FT thinks they are a crowd of messers. They even agree that they have too much power, ceded by the governments. It will be interesting to see who replaces the boss of the Fed, and what that will lead to.

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