dagblog - Comments for "George Soros Explains It All For You"

My bad. Sorry, seems I was a

cmaukonen — Tue, 05 Jun 2012 17:53:06 +0000

My bad. Sorry, seems I was a might hasty here.

Nein! Nein! Nein! Again

No, Germany has not agreed to a "banking union".

It has not agreed to mutualise the costs of bank bail-outs, knowing perfectly well that this means 'Eurobonds lite' and the start of a slippery slope towards debt pooling.

It has not cleared the way for use of the EU rescue machinery (EFSF and ESM) for direct recapitalisation of banks – which is what Spain wants to avoid having to bear the contingent liabilities of its crumbling lenders on sovereign shoulders.

Germany has not moved one inch towards fiscal union of any kind. It may do so (I make no prediction). It has not done so yet. Europe faces exactly the same problem it has had since the start of the crisis.

There is no breakthrough on the Spanish banking crisis. Quite why the Madrid and Milan bourses have been rallying is beyond me.

Germany has agreed to explore extra supervisory powers for a European banking authority, in the "medium-term" once umpteen other conditions have been fulfilled.

This has no relevance to today's crisis.

This interview is interesting

PeraclesPlease — Tue, 05 Jun 2012 07:15:20 +0000

In reply to George Soros Explains It All For You

This interview is interesting as well:

http://www.georgesoros.com/articles-essays/entry/interview_with_george_soros_angela_merkel_is_leading_europe_in_the_wrong_di/

Except on Star Trek,

EmmaZahn — Tue, 05 Jun 2012 03:38:05 +0000

In reply to Such things have historically

Except on Star Trek, right?

Seriously. I don't think the geography or demography is right or it would have federated a long time ago. Even or maybe especially when all of it was ruled by the same inbred bunch of aristocrats. BTW, they are still there and still influential.

Such things have historically

cmaukonen — Tue, 05 Jun 2012 01:59:13 +0000

In reply to Thanks for the link update.

Such things have historically become dictatorships and empires benefiting only a few of the very, very rich and powerful.. Humanity in my opinion has not grow nearly enough for this not to happen.

Thanks for the link update.

EmmaZahn — Tue, 05 Jun 2012 01:42:44 +0000

In reply to This I don't like at

Thanks for the link update. It was destor's link that did not work for me. I put my request at the wrong place.

Not sure why you do not like the idea of a federalized Europe. It was inevitable wasn't it? Their articles of confederation proved as insufficient for economic cooperation as our own. From something Soros wrote, that was the plan all along.

Thanks. Interesting read.

EmmaZahn — Tue, 05 Jun 2012 01:36:02 +0000

In reply to http://www.georgesoros.com/in

Thanks.

Interesting read. Really more econometric and financial than economic but then it is George Soros.

http://www.georgesoros.com/in

Michael Maiello — Tue, 05 Jun 2012 01:00:25 +0000

In reply to Link does not work for me.

http://www.georgesoros.com/interviews-speeches/entry/george_soros_remark...

http://www.guardian.co.uk/wor

cmaukonen — Tue, 05 Jun 2012 00:56:20 +0000

In reply to Link does not work for me.

http://www.guardian.co.uk/world/2012/jun/04/eu-weighs-federal-europe-plan

Link does not work for me.

EmmaZahn — Tue, 05 Jun 2012 00:21:35 +0000

In reply to George Soros Explains It All For You

Link does not work for me. Tried unsuccessfully to find another. You got one? Anyone?

This I don't like at

cmaukonen — Tue, 05 Jun 2012 00:12:52 +0000

In reply to George Soros Explains It All For You

This I don't like at all.

Europe's leaders appear to be edging towards an ambitious and controversial new blueprint for a federalised eurozone after Paris and Brussels threw their weight behind Spain's pleas for an EU rescue of its beleaguered banks.

At the start of three weeks likely to be crucial to the survival of the euro, the new French government and the European commission voiced strong backing for a new eurozone "banking union" to save the single currency.