Quote:
Originally Posted by pornguy
If kicking out the week countries will help save the Euro, then the banks should kick out the week borrowers as well.
If everyone was doing business the way it should be done, then these issues would not pop up.
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The Banks thought the EU would underwrite any loans, so in their thinking the loans were solid. This is 100% the fault of politicians and the people who elected them.
Quote:
Originally Posted by Barry-xlovecam
If the EU was a central government they could redistribute the tax revenue like they do in the USA Donor/Recipient States http://www.scribd.com/doc/8229012/Ta...-Contrib-State.
Much of Europe's problem is deep rooted nationalism.
Trying to have some form of economic unity with political disunity won't work and we see the result.
That chart gives some insight into USA politics and wealth redistribution <rolls eyes>
Soros may be right about the EU... |
Do the distribute the money loaned as well?
I agree that a single currency needs a single Chancellor to govern it. The EU has a central parliament that is great at churning out laws on the size and ingredients of sausages and how to cook a goulash (I kid you not) yet proved to be incapable of running anything too complicated.
The EU is now tightening the purse strings. A friend works for a bridge and road building company, so only getting public funded projects. There's no more money coming from the EU, so no more bridges and roads being built. Just one example of the cascading effect.