EsuriJohn

"Let them eat cake"

Beaverstate

The biggest idiots in the Eurozone mess are the Germans. They keep "lending" money they know will never be repaid. #1 rule of holes... When in one quit digging.

Dick Dasterdly

Could be method in their madness.
Just think of the stranglehold it gives them on these struggling countries for God knows how many years to come.
Mrs Merkel could succeed where a certain Mr Hitler failed.

Loco Pedro

Here's the Australian perspective of our problems.
http://www.youtube.com/watch?v=I5QwKEwo4Bc

Dick Dasterdly

Maybe it actually works in that respect to a certain extent as you say.

Better they let steam off with a few fireworks than start rioting and blowing ppl up in the streets, though I can't see it working indefinitely.

Beaverstate

Not if they leave.

Beaverstate

Funny, genius, scary and does not alter my comment. Paying off unpayable debt with more debt is insanity (not original I know).

jackytoo

Don't see why everyone should blame the Germans, they haven't been pissing money on things they don't need. Since joining Spain has had more out of Europe than it's paid in!

The worse thing about withdrawing from Euro and defaulting is that they caannot borrow any money. Someone mentioned fish but Spain actually imports fish. The would also not be able to buy drugs, raw materials from abroad. However, it wouldn't be forever, a short sharp shock is better than staying in the euro and being in the doldrums for a decade which is what Greece is facing. I read that even if Greece carries on with the austerity measures it will still be in the same position as it is now in 2022

bobd22

Jacky just my view but let's face it Germany are running Europe yes I appreciate they haven't squandered money and their own citizens have made sacrifices but why? for the reunification of their old Eastern Block countries that were lost to the Soviets. Spain probably has had more than it's fair share of EU money but Germany was the Country up to this point that gained most from the Euro. Germany is a very different to the Med countries and what works there is not certain to work elsewhere. You surely can't deny what just about every Financial expert in the world sees, that the Euro was flawed in conception? for what it's worth I don't think Spain will leave the Euro well certainly not be the first country to.

jackytoo

I agree with you Bob more or less. That is why the euro will never work. The EU has been moving the goalposts for years when countries like Greece and Italy, Spain too have overshot their budgets. Yes, Germany is calling the shots, the EU was set up by them and France for them. But, why would they not ask for austerity from these free spending countries

I don't think spain will leave the euro. One economist says they will leave in 4 yrs time....but will the Euro still exist then!

As Rajoy said today, Spain is on the brink of disaster

http://www.diariosur.es/rc/20120721/...207210828.html

Dick Dasterdly

Since Spain joined the Eu and began to receive king size helpings of gravy,they came to depend on it far too much and never had it so good as old Mac used to say.
Now they're in trouble and reaching the crossroads, they're like a big overgrown baby still suckling it's Mothers breasts and terrified of letting go.

casa del sol

A well known apt saying.

bobd22

Jacky bit like you I agree with just about all you say apart from austerity or as severe as is being demanded at the moment from Greece and who knows by who next. Germany and France (as you say the ones who run the show) were well aware Greece was fiddling the figures to get into the Euro but it suited Germany and France to get them tied in. Yes there's and other southern EU countries spending needs reigning in and cuts need to be made to prolific public spending but there are ways and means the EU needs to work harder ast coming up with a fair way that suits the countries involved (they are all different) not just what has worked in 1 country who have a culture that goes with the measures. It seems to me that Greece is having it's nose rubbed in the dirt to teach it's citizens a lesson.

Beaverstate

+1

Beaverstate

As a California senator was fond of saying 30+ years ago... a billion here a billion there it adds up. Now we are talking trillions annually