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#151
05-10-2012, 07:00 PM
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"I think it would be much better for Greece and the entire euro area if Greece were kicked out. Spain kicked out. Italy out and even France should be out. At the end you just have Germany with the euro.
The bureaucrats in Brussels and the media are brainwashing everybody that if Greece exited the euro, it would be a disaster. My view is the best would be to dissolve the whole euro zone and that the countries would go back to their own currencies and still use the euro as an international currency the way you travel through Latin America and with a [US] dollar you can pay anywhere you wish. In my view, that would be the best. These countries that have financial difficulties, you will have to write off their debts and make it difficult for them to access the capital market in the future. Just to keep bailing them out will increase the problem. It will not solve the problem." On whether there will be a race to the bottom among various countries to devalue their own currencies if the euro is dissolved: "I do not have a high opinion of the U.S. government, but the bureaucrats in Brussels make the government in the U.S. look like an organization consisting of geniuses. The bureaucrats in Brussels are completely useless functionaries and they want to maintain their power. Marc Faber from Switzerland on Bloomberg TV http://bloom.bg/IW6hX3 
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#152
05-10-2012, 07:15 PM
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I'd be interested to know who he is referring to as 'the bureaucrats'. All the top offices in Brussels are on cycles (usually four years, sometimes five), no one is clinging to power.
I'm going to repeat my earlier point though, that the 'bureaucrats in Brussels' in reality have very little power. They have as much power as the civil service does in a normal democracy. They propose legislation, that is all, they do not pass it, all of that is done by either the Council, the European Council or the Parliament, or a combination of the above depending on the topic. All of the above are either directly elected (in the case of the Parliament) or indirectly elected as they are the heads of state or ministers from the member states (in the case of the European Council and the Council) and are not the kind of 'bureaucracy' that he, or anyone else, is talking about whenever they talk about the EU. As for the Euro being a disaster if Greece is kicked out, of course it would be an economic disaster. If Greece were kicked out, what little faith there was left in the Euro would likely collapse because who would want to invest in a currency that changes its market every time something goes wrong. At the same time, if Greece were kicked out the Euro all the other Euro members would lose faith in it and the project would likely fail. A single currency is a brilliant idea in theory and shouldn't be given up on so easily because this may be the only chance we ever have at trying it.
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#153
05-10-2012, 08:43 PM
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So, in the case of Greece leaving...how would they deal with a debt still held in Euros?
So they drive back the reforms done by now to break up monopolies, nepotism and rigid labour structures, basicly the whole overblown government apperatus. Who is going to lend them the money to finance that? Who is going to back the new Drachma? What are they going to export to actually make use of a depressed currency? How are they going to finance energy and ressources imports with a massivly depressed currency? How are you going to catch up the millions already being in a dire situation when their money is worth even less? I am certainly open to arguments, just curious how you are going to solve this, short and long term.
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Cheers Last edited by Bewolf; 05-10-2012 at 08:45 PM.
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#154
05-10-2012, 08:49 PM
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That's also the other key point, that if Greece leaves the Euro then their currency will be devalued (else what's the point of leaving?), meaning they pay the same amount they owe in Drachma, but everyone else gets less Euros, Pounds, Dollars or whatever. So essentially if Greece leaves Greece 'wins' (if you can call it winning) and the rest of the world to whom it owes money loses. That includes Britain. That's why I don't understand all this celebrating over the fact that the Euro is burning. We lose a hell of a lot of money if the Euro goes, along with everyone else. It is in our interests for it to stay afloat and, to some extent, to keep it afloat.
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#156
05-10-2012, 09:23 PM
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Quote:
Yes, there is some Saxon blood in my body. And I have been to Germany many times. Your beer is a magnet... Almost as good as British beer...  Our countries were the same until 1914. Germany is the only country in Europe that I am at home in. Yes, it sounds crazy. Ok. This is where I have drunk beer in Germany: Munich.( The one way traffic system forced me to drink bier). Coburg. (A very heavy two days!) Celle. (hmmmm...heavy again). Kiel. (Nice sailing with biers). Hamburg (Crazy Ladies and Hell's Angels) Berlin (I was 15 years old and no bier). Mfg MB_Avro.
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#157
05-10-2012, 09:28 PM
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Quote:
Please send me the link to the action packed story!  And History Lite has a place at times...get my drift?
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#158
05-10-2012, 09:32 PM
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 Why was the Euro created?Best Regards, MB_Avro.
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#159
05-10-2012, 09:41 PM
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Quote:
And I can't respect a person who has not tried Alt yet.
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Cheers
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#160
05-10-2012, 10:09 PM
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[QUOTE=Bewolf;423435]Well, think of people looking back at european history, looking at the new descruction magnitudes each project brought and projecting that into the future, then looking for ways to make this never happen again, that may be a good starting point.
The perspective from Britain is that the Euro was a shallow and political attempt to unite Europe under German leadership. Angela Merkel has dictated to Greece who should be their leader. Thank the Lord that we British have NOT joined the Euro. The Euro is a sinking ship. We British are experts as regards sinking ships. Titanic anyone  Best Regards, MB_Avro.
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