Being beastly to the Germans.

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This topic contains 4 replies, has 4 voices, and was last updated by Profile photo of logan logan 4 years, 3 months ago.

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  • #57033
    Profile photo of logan
    logan
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    Hollande, Rajoy and Dragi are now telling the Germans where to stuff it. The ECB is planning to buy the debts of struggling EZ nations completely contrary to EU policy and treaties.

    http://www.telegraph.co.uk/finance/debt-crisis-live/9507012/Debt-crisis-live.html

    There will be trouble at ‘mill. Merkle will need to get out her very large handbag or capitulate. It’s going to be an interesting autumn. A make or break period for the Euro

  • #111921
    Profile photo of Chopera
    Chopera
    Participant

    @logan wrote:

    Hollande, Rajoy and Dragi are now telling the Germans where to stuff it. The ECB is planning to buy the debts of struggling EZ nations completely contrary to EU policy and treaties.

    http://www.telegraph.co.uk/finance/debt-crisis-live/9507012/Debt-crisis-live.html

    There will be trouble at ‘mill. Merkle will need to get out her very large handbag or capitulate. It’s going to be an interesting autumn. A make or break period for the Euro

    Kicking Germany out of the euro might be the least worst option

  • #111922
    Profile photo of Anonymous
    Anonymous
    Participant

    i am begining to think the sooner everyone reverts back to their own currency the better it will be a the sooner some countries will recover.
    A spain with the devalued currency will see a return of tourists looking for the cheap family package holiday instead of the £3000 a week trips to the holiday villages of the big tour companies.Which would be good for hotels shops bars and the all important summer job that feeds so many families.property will fall more but with that it will sell more bringing an end to the massive over supply quicker.

  • #111924
    Profile photo of Anonymous
    Anonymous
    Participant

    I agree Dartboy.

  • #111925
    Profile photo of logan
    logan
    Participant

    Quote from todays FT.
    The European Central Bank would be given sweeping authority over all 6,000 eurozone banks under a plan being drawn up by the European Commission, putting Brussels on a collision course with Germany and the ECB itself, which have urged a more decentralised first step towards “banking union”.
    The plan, agreed at a meeting this week between top aides to José Manuel Barroso, commission president, and Michel Barnier, the EU’s senior financial regulator, would strip existing national supervisors of almost all authority to shut down or restructure their countries’ failing banks, giving those powers to Frankfurt.

    Germany is opposed to such as blanket measure and wants only the top 25 banks in the Eurozone to be supervised. The reason is it has a similar system in Germany as Spain where the smaller regional savings banks are controlled by the political regional heads of government. They use them as their own private piggy bank and more importantly control who they will lend to.

    It is that system in Spain through the failed caja’s which indirectly led to the collapse of the Spanish property market.

    The ECB rightly in my view sees that as a form of corrupt practice and is seeking to end it.

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