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Thread: Bundesbank: No bail out for Italy.

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    Politics.ie Member Nemesiscorporation's Avatar
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    Default Bundesbank: No bail out for Italy.

    The Bundesbank Chief has stated there will be no bailout for Italy.

    Bundesbank chief: No bailout guarantee for Italy - The Local

    There is real fear now in Europe of an Italian bail out which would be a horrendous financial nightmare for Europe

    It would most likely lead to a transatlantic banking meltdown if Italy defaulted.

    Also there is a growing fear in Northern Europe regarding what is emerging in Italy and what could emerge in other countries in the political sphere.

    Beppe Grillo of Italy Is the Most Dangerous Man in Europe - SPIEGEL ONLINE

    This all does not bode well for the Eurozone and could to further instability.

    I personally have come to the conclusion that the governments of Europe need to act as one and face the markets down as they are clearly dictating to democracies without being elected and are creating a democratic vacuum, that could easily be filled by popularist far left and right parties that could bring in anarchist, communist, fascist or nazi governments in some countries by promising everything and delivering nothing pain and suffering on an even great scale.

    What is you opinion regarding this situation.

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    Politics.ie Member Dublin 4's Avatar
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    That I'm rubbing of on you - Doomster!

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    Politics.ie Member sport02's Avatar
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    Bundesbank needs its weekly/monthly whinge. Does anyone pay attention to Buba or Weedmann anymore.

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    Politics.ie Member DownTheyGo's Avatar
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    Grillo does not fit with the German/EU code of democracy.

    Lets attack Grillo.

    EU democracy at its finest.

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    Politics.ie Member Nemesiscorporation's Avatar
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    Quote Originally Posted by Dublin 4 View Post
    That I'm rubbing of on you - Doomster!


    I am actually becoming genuinely worried. Up till now I have just been annoyed at various events and angry at how stupid they were as well as how easily preventable they were.

    Over the last four weeks or so, more and more of my friends have been mentioning what is happening in southern Europe and the rise in extremism. It is not just Greece. Simmering miscontent is growing very rapidly all over Iberia, France, Italy, Greece with hints of something bad under the surface in Denmark and Sweden.

    The pandering to markets is creating a democratic vacuum all over Europe and has went far to far.

    I have a bad feeling that if we don't start to turn things around in a tangible way within the next year that a democracy in Europe could fall. That would be the worst possible outcome. It might be a neoliberal, nazi or communists wet dream, but it would be a disaster for every democracy in Europe.

    I have read a lot of history and the parallel's with the 1930's are really starting to show themselves more clearly as time goes on.

    History repeats itself, usually due to us being to stupid to learn from it and I am worried it could literally repeat itself, unless we grow up and make some hard decisions very fast.

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    Politics.ie Member Nemesiscorporation's Avatar
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    Quote Originally Posted by DownTheyGo View Post
    Grillo does not fit with the German/EU code of democracy.

    Lets attack Grillo.

    EU democracy at its finest.
    I recognise where Spiegel is coming from on Grillo. I suggest you do some checking on there facts before condemning.

    Don't get me wrong. I am glad to see the entire Italian political system given a good shake up as it needed it. I hope Grillo is removed by his own party because I am worried about the parallels between him and another Italian. He is unelected so can not lead his party, which is a good thing and will most likely stop him from gaining power, which I am glad of. I hope one of the women in the party gets the reigns of power as that would really shake Italy up.

  7. #7

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    Quote Originally Posted by Nemesiscorporation View Post
    The Bundesbank Chief has stated there will be no bailout for Italy.

    Bundesbank chief: No bailout guarantee for Italy - The Local

    There is real fear now in Europe of an Italian bail out which would be a horrendous financial nightmare for Europe

    It would most likely lead to a transatlantic banking meltdown if Italy defaulted.

    Also there is a growing fear in Northern Europe regarding what is emerging in Italy and what could emerge in other countries in the political sphere.

    Beppe Grillo of Italy Is the Most Dangerous Man in Europe - SPIEGEL ONLINE

    This all does not bode well for the Eurozone and could to further instability.

    I personally have come to the conclusion that the governments of Europe need to act as one and face the markets down as they are clearly dictating to democracies without being elected and are creating a democratic vacuum, that could easily be filled by popularist far left and right parties that could bring in anarchist, communist, fascist or nazi governments in some countries by promising everything and delivering nothing pain and suffering on an even great scale.
    What is you opinion regarding this situation.
    It is not the markets that are threatening the stability of Europe.

    It is the EU that is responsible for that.
    ''The tattoo has a profound meaning: the superficiality of modern man’s existence.'' - Theodore Dalrymple

    "Any fool can make something complicated. It takes a genius to make it simple." - Woody Guthrie

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    Politics.ie Member Nemesiscorporation's Avatar
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    Quote Originally Posted by Mossy Heneberry View Post
    It is not the markets that are threatening the stability of Europe.

    It is the EU that is responsible for that.
    I disagree.

    The EU has some blame for not growing a backbone and telling the markets what to go do with themselves.

    However most of the blame lies with the markets as the traders make more money, the more instability there is. That's the problem, they thrive on instability and therefore help create conditions to create more instability.

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    Quote Originally Posted by Nemesiscorporation View Post


    I am actually becoming genuinely worried. Up till now I have just been annoyed at various events and angry at how stupid they were as well as how easily preventable they were.

    Over the last four weeks or so, more and more of my friends have been mentioning what is happening in southern Europe and the rise in extremism. It is not just Greece. Simmering miscontent is growing very rapidly all over Iberia, France, Italy, Greece with hints of something bad under the surface in Denmark and Sweden.

    The pandering to markets is creating a democratic vacuum all over Europe and has went far to far.

    I have a bad feeling that if we don't start to turn things around in a tangible way within the next year that a democracy in Europe could fall. That would be the worst possible outcome. It might be a neoliberal, nazi or communists wet dream, but it would be a disaster for every democracy in Europe.

    I have read a lot of history and the parallel's with the 1930's are really starting to show themselves more clearly as time goes on.

    History repeats itself, usually due to us being to stupid to learn from it and I am worried it could literally repeat itself, unless we grow up and make some hard decisions very fast.
    So much for Germany's terror of inflation for historical reasons so...

    It is much worse than that. As I see it anyway.

    The voice of the electorate has been trodden over to save institutions, banks, and so on.

    Look at Cyprus now. Although that country's banking system is not without fault.

    Just like all over Europe I'd say.

    Watch this space if 10% is taken off deposits all over EU land.

    What will be left? Granny's few bob in the post office.

    I confess to not knowing too much about all this. Fingers in my ears probably. But the developments in Cyprus are worrying.

  10. #10
    Politics.ie Member stopdoingstuff's Avatar
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    Quote Originally Posted by Nemesiscorporation View Post
    I disagree.

    The EU has some blame for not growing a backbone and telling the markets what to go do with themselves.

    However most of the blame lies with the markets as the traders make more money, the more instability there is. That's the problem, they thrive on instability and therefore help create conditions to create more instability.
    True but they can't do that if the governments and banks are not dodgy to begin with. Markets reflect perceptions of risk and financial soundness.
    Faoi mhóid bheith saor

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