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  1. #1551
    Malbekh Malbekh is offline
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    Quote Originally Posted by sport02 View Post
    Regarding the EFSF, the obvious countries that may have an issue with the expansion are Holland and Finland, but today the Slovak finance minister again today said he opposes it enlargement.
    I'd say it'll begin and end with the Germans, there's no point in getting permissions from the other countries unless Germany says yes, if they do say yes, then it puts pressure on the lesser minions as it were. Ofc, there's no point in going the Germans looking for a few hundred billion and the a few trillion in November. There's no point, but then again, there are some excellent can kickers in the Eurozone these days.

    Don't forget plan B please.
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  2. #1552
    sport02 sport02 is offline
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    Quote Originally Posted by Malbekh View Post
    I'd say it'll begin and end with the Germans, there's no point in getting permissions from the other countries unless Germany says yes, if they do say yes, then it puts pressure on the lesser minions as it were. Ofc, there's no point in going the Germans looking for a few hundred billion and the a few trillion in November. There's no point, but then again, there are some excellent can kickers in the Eurozone these days.

    Don't forget plan B please.
    Of course there is always a plan B.
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  3. #1553
    Dublin 4 Dublin 4 is offline
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  4. #1554
    Malbekh Malbekh is offline
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    Quote Originally Posted by CookieMonster View Post
    But there is. The countries forced to use these mechanisms thus far are inconsequential peripheral countries. If the likes of Italy or France need to avail of them then if ruled need to be bent, rules will be bent. We have seen how blind eyes are turned when it's the big economies already. Germany and France have repeatedly broken the SGP rules and were never penalised.
    Now Cookie, you're showing your particular skills and knowledge here to a poor layman of little consequence. After all, I am merely addressing the argument on how the Eurozone stabilises. I can't take responsibility if they start a huge chocolate fudge cake with coffee filling.
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  5. #1555
    Dublin 4 Dublin 4 is offline
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    Will this be discussed at Sarko & Merko's meeting on Tuesday? @zerohedge"ECB Isn’t Doing Enough to Stabilize Region, Pimco’s Balls Says. Yes, Pimco's Balls"
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  6. #1556
    CookieMonster CookieMonster is offline
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    Quote Originally Posted by Malbekh View Post
    Now Cookie, you're showing your particular skills and knowledge here to a poor layman of little consequence. After all, I am merely addressing the argument on how the Eurozone stabilises. I can't take responsibility if they start a huge chocolate fudge cake with coffee filling.
    But that's the point. They set up the Growth and Stability Pact to maintain growth and stability in the Euro zone and France and Germany routinely broke he rules of the previous pact and were never penalised and installed so much fudge in the current agreement as to render it almost unapplicable to them at all.
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  7. #1557
    Dublin 4 Dublin 4 is offline
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    Is McD really a Neo-Nero??? @Fabrizio Goria"***Borsa Italiana: IDEM Market - FTSE MIB index instruments are not tradable due to a technical issue. Further communication will follow***"


    @zerohedge"Aaaaaand... Italy Breaks" http://www.zerohedge.com/news/aaaaaand-italy-breaks
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  8. #1558
    CookieMonster CookieMonster is offline
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    Quote Originally Posted by sport02 View Post
    Of course there is always a plan B.
    Is Plan B the same as Plan A except with more money, a high-profile meeting in Brussels and a press conference with associated soothing statements?
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  9. #1559
    Malbekh Malbekh is offline
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    Quote Originally Posted by CookieMonster View Post
    But that's the point. They set up the Growth and Stability Pact to maintain growth and stability in the Euro zone and France and Germany routinely broke he rules of the previous pact and were never penalised and installed so much fudge in the current agreement as to render it almost unapplicable to them at all.
    But as the Eurozone revolves around the Franco-Prussian axis nothing is done. In the meantime, the German economy continues to plough its blitzkrieg way through the export market thanks to a weakened Euro and low interest rates, whilst its banks get their Mediterranean bonds guaranteed by the ECB/G7 (notable exception being those in the Greek banks), and then Helmut citizen then takes umbrage at the scandalous bailout of the PIIGS. You see, you can have your giant fudge cake and eat it too. Can we do anything about it? No, because of more critical worth is stabiliising the Eurozone, all this remedial action may or may not happen later, but for me, it's not that important right now.
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  10. #1560
    sport02 sport02 is offline
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    Quote Originally Posted by CookieMonster View Post
    Is Plan B the same as Plan A except with more money, a high-profile meeting in Brussels and a press conference with associated soothing statements?
    Plan A when it is not in denial is an enlarged EFSF or Eurobonds. Personally as I have said before, the latter should do the trick, however getting the Germans on board will be near to impossible.

    Plan B is shocking, Germany decides enough is enough, or some countries have to be sacrificed or some peripheral countries decide it is time to bow out.
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