Total Posts:3|Showing Posts:1-3
Jump to topic:

Euro at risk of collapse?

Indophile
Posts: 1,414
Add as Friend
Challenge to a Debate
Send a Message
9/12/2011 10:54:23 AM
Posted: 5 years ago
"In response to a question about whether the E.C.B. is becoming a "bad bank" thanks to its purchases of troubled nations' debt, Mr. Trichet, his voice rising, insisted that his institution has performed "impeccably, impeccably!" as a guardian of price stability.

Indeed it has. And that's why the euro is now at risk of collapse."

.....

"What Mr. Trichet and his colleagues should be doing right now is buying up Spanish and Italian debt — that is, doing what these countries would be doing for themselves if they still had their own currencies. In fact, the E.C.B. started doing just that a few weeks ago, and produced a temporary respite for those nations. But the E.C.B. immediately found itself under severe pressure from the moralizers, who hate the idea of letting countries off the hook for their alleged fiscal sins. And the perception that the moralizers will block any further rescue actions has set off a renewed market panic. "

http://www.nytimes.com...
You will say that I don't really know you
And it will be true.
Wnope
Posts: 6,924
Add as Friend
Challenge to a Debate
Send a Message
9/12/2011 5:32:58 PM
Posted: 5 years ago
At 9/12/2011 10:54:23 AM, Indophile wrote:
"In response to a question about whether the E.C.B. is becoming a "bad bank" thanks to its purchases of troubled nations' debt, Mr. Trichet, his voice rising, insisted that his institution has performed "impeccably, impeccably!" as a guardian of price stability.

Indeed it has. And that's why the euro is now at risk of collapse."

.....

"What Mr. Trichet and his colleagues should be doing right now is buying up Spanish and Italian debt — that is, doing what these countries would be doing for themselves if they still had their own currencies. In fact, the E.C.B. started doing just that a few weeks ago, and produced a temporary respite for those nations. But the E.C.B. immediately found itself under severe pressure from the moralizers, who hate the idea of letting countries off the hook for their alleged fiscal sins. And the perception that the moralizers will block any further rescue actions has set off a renewed market panic. "

http://www.nytimes.com...

Funny thing is that when the economic shockwave hits us, people will blame Obama.
000ike
Posts: 11,196
Add as Friend
Challenge to a Debate
Send a Message
9/12/2011 5:35:23 PM
Posted: 5 years ago
At 9/12/2011 5:32:58 PM, Wnope wrote:
At 9/12/2011 10:54:23 AM, Indophile wrote:
"In response to a question about whether the E.C.B. is becoming a "bad bank" thanks to its purchases of troubled nations' debt, Mr. Trichet, his voice rising, insisted that his institution has performed "impeccably, impeccably!" as a guardian of price stability.

Indeed it has. And that's why the euro is now at risk of collapse."

.....

"What Mr. Trichet and his colleagues should be doing right now is buying up Spanish and Italian debt — that is, doing what these countries would be doing for themselves if they still had their own currencies. In fact, the E.C.B. started doing just that a few weeks ago, and produced a temporary respite for those nations. But the E.C.B. immediately found itself under severe pressure from the moralizers, who hate the idea of letting countries off the hook for their alleged fiscal sins. And the perception that the moralizers will block any further rescue actions has set off a renewed market panic. "

http://www.nytimes.com...

Funny thing is that when the economic shockwave hits us, people will blame Obama.

This.
"A stupid despot may constrain his slaves with iron chains; but a true politician binds them even more strongly with the chain of their own ideas" - Michel Foucault