EU trying to save Euro Zone

[Karma]

Euro failure is 'luxury we can't afford,' Sarkozy warns - CNN.com

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This looks very grim to me. Some of the proposals being suggested are bound to strain relations among the countries that the euro zone was supposed to unite. the idea of fostering unity is going to come apart if some of these things come to pass & w/ the way of globalization today, its obvious that a failure of the euro zone will effect the world in some ways.

meanwhile, i also notice how S&P has put 15 of european countries on notice of credit review & possible downgrade. some of these countries were the same ones who were ridiculing the U.S. following S&P's downgrade of their credit rating.

 

[Karma]

Update

Half-Baked Treaty Deal Could Lead to Collapse of Euro Zone - The Daily Beast

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Reading what's happening in Europe reminds me of a pack of lions tearing at the flesh and dismembering its kill. Many of the proposed policies seem to be in the favor of only the banks. Banks are getting nearly free money to remain solvent...and the stronger EU member states want all countries to agree to give up sovereignty of their own budgets effectively making each country submissive to the... United States of Europe. There are calls for these countries to implement austerity measures...as in - raising retirement ages....fewer benefits and social services...cutting the means for the "average person".

The worst part is...they could fix this if they were allowed to let their currency weaken by printing more Euros. The European Central Bank (ECB) will not do that even though its the single best option. Their European FED is basically holding a financial gun to the heads of politicians. This is the most f#cked up and egregious action...its unbelievable. The countries can't even manage their own monetary policy - they have to BORROW from their version of a FED. And their FED won't lend. The guy who runs the ECB - his name is Mario Draghi....former vice-chairman and managing director of Goldman Sachs.


This is looking REAL bad!

Europe implodes in 5...4...3

United States explodes shortly thereafter....Any observations here on Europe?

 

[SiD]

Well i really do hope it won't explode here in europe, even though norway isn't a part of the European Union, we are still linked through the EØS agreement.
And if the s**t is hitting the fan it will certainly hit norway too.

Im not really in any position to tell how bad it will become, i fear the worst but hope for the best.

Atleast with Papanderou and Berlusconi replaced with hopefully more compentent leaders, we can see gradual improvement.

I don't think norway would struggle as much as alot of other nations but i would be kidding myself if i thought it wouldn't have an impact here as well.

 

[Black King]

The World can't really take a second finical collapse, EU takes another hitter then we'll definitely feel here in the US too.