Poll: Stability Co-ordination and Governance in EMU Treaty.

[Tin Foil Hat]

Telegraph saying tonight they have text and if bailout countries .ie Ireland don't agree to it, they don't get more aid.The EU fiscal draft treaty: in full - Telegraph

The EU fiscal draft treaty: in full - Telegraph

Someone one on the Vincent Browne thread lastnight said that Pearse Doherty claimed the Irish goverment insisted on this. Is this true and if so why?

A) This treaty has nothing to do with our 'bailout' agreement. We're meeting all our targets, so they have no grounds to dishonour the agreement.

B) The bailout is as much about saving the Euro as it is about saving Ireland, so it wouldn't be in their interests to shaft us.

[DownTheyGo]

So as another poster here pointed out before.This whole FU treaty is about saving the euro and yet the EU will refuse aid to Ireland who will then default,triggering the exact thing that the treaty is designed to prevent.Clever thinking.

Thats the hand the NO vote has to play and I will be playing it, for sure.

[spooneycooney]

And you think that they can reduce labour costs to keep up with a doubling of the value of their currency? Thats utter nonsense.

Maybe their just tired of paying for other countries PS and welfare? If the Euro was to get stronger I think they would pay that price if it meant they wouldn't have to bail out other countries.

[damoireland]

They survived with the DM being one of the strongest currencies in the World. The Euro wasn't created so Germany could get a cheaper currency. The Euro was the price France extracted from Germany in return for supporting German reunification. It was never about economics.

Thats the operative word,survived

The German economy practically stagnated in the beginning of the 2000s. The worst growth figures were achieved in 2002 (+1.4%), in 2003 (+1.0%) and in 2005 (+1.4%).[42] Unemployment was also chronically high

2011 was a record-breaking year for the German economy. German companies exported goods worth over €1 trillion ($1.3 trillion), the highest figure in history. The number of people in work has risen to 41.6 million, the highest recorded figure

Any idea what event occured in between which caused such a change?

[damoireland]

Maybe their just tired of paying for other countries PS and welfare? If the Euro was to get stronger I think they would pay that price if it meant they wouldn't have to bail out other countries.

You mean the bailouts on which we pay 6bn in interest,specifically designed to ensure the German Govt dont have to recapitalise their banks?

[spooneycooney]

You mean the bailouts on which we pay 6bn in interest,specifically designed to ensure the German Govt dont have to recapitalise their banks?

It would be cheaper for them to recapitalise their banks rather than to continue bailing us out. BTW we are free to borrow from the markets whenever we wish, see how much we are paying then.

[damoireland]

It would be cheaper for them to recapitalise their banks rather than to continue bailing us out. BTW we are free to borrow from the markets whenever we wish, see how much we are paying then.

Can you show me some evidence of that please?

[LDF]

Thats the operative word,survived

The German economy practically stagnated in the beginning of the 2000s. The worst growth figures were achieved in 2002 (+1.4%), in 2003 (+1.0%) and in 2005 (+1.4%).[42] Unemployment was also chronically high

2011 was a record-breaking year for the German economy. German companies exported goods worth over €1 trillion ($1.3 trillion), the highest figure in history. The number of people in work has risen to 41.6 million, the highest recorded figure

Any idea what event occured in between which caused such a change?

Quite a lot happened. Germany went through a painful period of restructuring from the early nineties in order to pay for reunification and accomodate the old East Germany. You believe German unemployment and stagnant growth rates were entirely due to the DM. I disagree.

It's performance since 2002 has more to do with globalisation and the modernisation of emerging economies which created demand for German products. I believe that demand would have been there no matter what currency Germany operated under. You believe Germany's economic performance in 2011 is entirely due to its membership of the Euro. I disagree.

[damoireland]

So the German economy soars the be the number 1 exporter in the world and you dont think it is anything to do with being part of artificially low currency? Germany is not providing raw materials or commodities to China like Australia.Its providing consumer goods which it is able to export at a low cost,due to its membership of a currency with such basket cases as Greece and Italy.Modernisation and Gloabalisation occurred for Japan as well,but their strong currency prevented them taking the full advantage that Germany has.

[damoireland]

Can I have that link Spooney?