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  1. #2811
    MPB MPB is offline

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    Quote Originally Posted by Dublin 4 View Post
    Forbesy onside with MPB...

    Forget Greece: Europe Suffers From
    Not exactly D4. Yes on the nature of the problem but No on the solution.

    We have to stop putting money into these Banks in order to avoid default. The huge amount of debt is the problem and a managed default is the solution.

    We can replace losses that are of strategic importance, like Corporate and Personal deposits, even pension funds due to mature in the next 2 years, but we have to be prepared to let Investment Banks go the wall.

    Everytime you recap a Bank, you weaken the real economy. The cannot or won,t lend into a market suffering the consequences of austerity while expected to repay already recapped Banks on the double for the debt they owe.
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  2. #2812
    McDave McDave is offline

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    Quote Originally Posted by hiker View Post
    "International lenders told Greece today it must shrink its public sector and improve tax collection to avoid default..."
    IMF calls for Greek reforms - The Irish Times - Mon, Sep 19, 2011

    Convergance with the majority of modern european states would be sufficient for the Greeks.

    Spain,Ireland, Portugal and Italy need only converge on the 3% Debt ratio to GDP to be ok in the long term....
    I'd say in Ireland and Italy's case, we probably need to deliver budget surpluses to get total national debts moving towards an eventual 60% of GDP. But that's basically the right idea. Anyone who shows they're on that track is basically a shoo-in for continued Eurozone membership. The only country that's probably too far off the pace is Greece.
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  3. #2813
    Dublin 4 Dublin 4 is offline
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    Quote Originally Posted by McDave View Post
    It should help prevent youse from hyperventilating over every paragraph of negativity that emanates from the likes of Zerohedge and Ambrose Evans-Pritchard.
    Negativity like Junk Status Ratings, Sovereign Default, IMF Bailouts, Flop Deals, Flop Summits, Stock Market Crashes, Sovereign Downgrades, Contagion, Meltdown Level Bond Yields & Chronic Over-deleveraging.

    It wasn't ZH or Amby that shot themselves in the mouth saying "the eurozone would stabilise" in June 10...
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  4. #2814
    Dublin 4 Dublin 4 is offline
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    Quote Originally Posted by MPB View Post
    Yes on the nature of the problem but No on the solution.
    Agreed.
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  5. #2815
    McDave McDave is offline

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    Quote Originally Posted by Magror14 View Post
    Seems to me that a gun is being put to Greece's head. It is being asked to do the impossible so it will have to be beg to be released. This is preferable to the legal impossibility of its being kicked out.

    Maybe the situation is more chaotic than that but there must be some point at which the market puts a value on not allowing the situation to totally collapse. This is the point where the cost of collapse is identified and equals the price of the necessary alleviating measures.

    What worries me is that Germany for all its excellent institutions is ultimately subject to the will of its voters who may not be as politically sophisticated as some people think. The downside of strong institutions may be a more dummed down electorate. There, I've said it!
    Having said that, in the Berlin regional election, the FDP, who've been pursuing a Eurosceptic line of late, were completely stuffed. The SPD which is a strong proponent of the EFSF/ESM and has argued for Eurobonds is doing very well in the polls.

    If a realistic solution is presented to the German voters, I think they'll respond positively.
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  6. #2816
    Dublin 4 Dublin 4 is offline
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    Quote Originally Posted by McDave View Post
    I'd say in Ireland and Italy's case, we probably need to deliver budget surpluses to get total national debts moving towards an eventual 60% of GDP. But that's basically the right idea. Anyone who shows they're on that track is basically a shoo-in for continued Eurozone membership. The only country that's probably too far off the pace is Greece.
    But McD- Italy has just been downgraded, Portugal is a mess & the Banks are tanking...
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  7. #2817
    Dublin 4 Dublin 4 is offline
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    Quote Originally Posted by McDave View Post
    Having said that, in the Berlin regional election, the FDP, who've been pursuing a Eurosceptic line of late, were completely stuffed. The SPD which is a strong proponent of the EFSF/ESM and has argued for Eurobonds is doing very well in the polls.

    If a realistic solution is presented to the German voters, I think they'll respond positively.
    Not according to the Opinion Polls...

    Poll shows 3 in 4 Germans oppose bailout expansion

    http://uk.reuters.com/article/2011/0...78851S20110909
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  8. #2818
    McDave McDave is offline

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    Quote Originally Posted by Magror14 View Post
    OK, D4, even by the general standards of you chaos peddlers that post falsely quoting McD saying he was hiding under his duvet was totally out of order. I clicked on the alleged post and the original post says nothing of the sort.


    I have most of those incestuous, attention-seeking jokers on "Ignore", so I don't have to deal with their trolling BS. They can high-five each other to their little hearts' desires!
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  9. #2819
    Dublin 4 Dublin 4 is offline
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    Quote Originally Posted by McDave View Post


    I have most of those incestuous, attention-seeking jokers on "Ignore", so I don't have to deal with their trolling BS. They can high-five each other to their little hearts' desires!
    But your thread titled "The eurozone is stabilising" isn't being ignored & your crediblity has evaporated
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  10. #2820
    Dublin 4 Dublin 4 is offline
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    More instability within the crisis...

    Italy downgrade adds to euro-zone fears
    S&P cut piles pressure on policy makers, underscores bank worries


    Italy downgrade adds to euro-zone fears - MarketWatch

    "Italian government bond yields rose Tuesday after Standard & Poor’s Ratings Services cut Italy’s credit rating one notch, putting further pressure on euro-zone leaders to stem the region’s ongoing sovereign-debt crisis."
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