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  1. #1
    A view from England A view from England is offline
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    Here we go. Another EU fiddle to bypass the regulations.

    The EU, not content with illegally bailing out Ireland, Portugal and Greece, are now looking at ways of 'bypassing' their own rules by arranging for the ECB to lend money to the IMF so that it can then lend on that money to EU countries in trouble.
    ECB could lend to IMF for euro zone rescue - officials | Reuters
    For me, this continues to demonstrate that whatever rules, laws or directives are put in place by the EU, the politicians and bureaucrats can never be trusted to work with them and will look to deviate from them in order to promote the EU wet dream of a federal superstate based on the soviet model.
    It is this kind of stupidity that caused the mess in the first place, not obeying the rules that would have prevented profligate countries joining the Euro, not obeying the rules on deficits, not obeying the rules on tax rates etc.
    When are the Eurotwats going to accept thatbthe Euro is a dead duck and stop throwing good mnoey after bad supporting this political symbol which is to all intents and purposed finished in its current form?
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  2. #2
    DownTheyGo DownTheyGo is offline
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    Quote Originally Posted by A view from England View Post
    The EU, not content with illegally bailing out Ireland, Portugal and Greece, are now looking at ways of 'bypassing' their own rules by arranging for the ECB to lend money to the IMF so that it can then lend on that money to EU countries in trouble.
    ECB could lend to IMF for euro zone rescue - officials | Reuters
    For me, this continues to demonstrate that whatever rules, laws or directives are put in place by the EU, the politicians and bureaucrats can never be trusted to work with them and will look to deviate from them in order to promote the EU wet dream of a federal superstate based on the soviet model.
    It is this kind of stupidity that caused the mess in the first place, not obeying the rules that would have prevented profligate countries joining the Euro, not obeying the rules on deficits, not obeying the rules on tax rates etc.
    When are the Eurotwats going to accept thatbthe Euro is a dead duck and stop throwing good mnoey after bad supporting this political symbol which is to all intents and purposed finished in its current form?

    Could this be the reason why the European IMF director quit yesterday?
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  3. #3
    A view from England A view from England is offline
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    Quote Originally Posted by DownTheyGo View Post
    Could this be the reason why the European IMF director quit yesterday?
    I wasn't aware they had quit.... I suppose it is possible they would baulk at this sort of corruption.
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  4. #4
    CookieMonster CookieMonster is offline
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    Germany aren't at all happy about this, France wants it.
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  5. #5
    DownTheyGo DownTheyGo is offline
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    Quote Originally Posted by A view from England View Post
    I wasn't aware they had quit.... I suppose it is possible they would baulk at this sort of corruption.
    IMF European director Borges resigns - BusinessWeek
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  6. #6
    Fractional Reserve Fractional Reserve is offline

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    I don't see how they could get away with that , the IMF isn't a bank .It a big sort of a credit club with memeber paying in based onon size and gdp . What country would they say the Mula came from The USE and Piigs island..
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  7. #7
    Tea Party Patriot Tea Party Patriot is offline
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    Quote Originally Posted by CookieMonster View Post
    Germany aren't at all happy about this, France wants it.
    It looks very like QE only by another name. The Germans will sulk at that.
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  8. #8
    DownTheyGo DownTheyGo is offline
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    Quote Originally Posted by Tea Party Patriot View Post
    It looks very like QE only by another name. The Germans will sulk at that.
    Totally. Back door jobby to take Spain & Italy off the bond market and let the technocrats go at it.

    IMF could even end-up being macro buyers of Belgium; Austrian and French debt.

    Essentially, the IMF becomes the iron fist of Europe.
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  9. #9
    Fractional Reserve Fractional Reserve is offline

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    The Germans will go nuts. Sarky must be rubbing his hands
    Quote Originally Posted by Tea Party Patriot View Post
    It looks very like QE only by another name. The Germans will sulk at that.
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  10. #10
    Tea Party Patriot Tea Party Patriot is offline
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    Quote Originally Posted by DownTheyGo View Post
    Totally. Back door jobby to take Spain & Italy off the bond market and let the technocrats go at it.
    It was that or default, was bound to happen

    Quote Originally Posted by Fractional Reserve View Post
    The Germans will go nuts. Sarky must be rubbing his hands
    Merkel must be having a fit, no need for a new treaty or anything,

    Edit: although there will need to be something to hold deficits in check for the future
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