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George Soros: 3 months to save the euro

http://www.bbc.co.uk/news/business-18320881

George Soros says three months to save the euro

Billionaire investor George Soros has warned European leaders they have a "three-month window" to save the euro.

He said he believed Greece would elect a government willing to abide by loan conditions imposed by the EU in this month's elections.

But he said the German economy would begin to weaken in the autumn, making it much harder for Chancellor Angela Merkel to provide further support.

I wonder if he visited Virginia last week :)

Quote:

Originally Posted by u-Bob (Post 18985094)

I wonder if he visited Virginia last week :)

I like you're way of thinking u-Bob :thumbsup

The Euro is in much deeper trouble than many people imagine.

The trade within the EU, was supported by some of the weaker getting enormous loans they now don't get and need to repay. This accounts for much of some EU countries exporting success. They were selling to clients living off credit. The UK exports $22 billion a month to the EU. This will shrink if customers don't have money to buy. Supported by loans or supported to countries supported by loans, same thing.

Imagine your bank suddenly cancelling your credit to get the picture. This effects the shops you send money in.

The solution is a tough pill to swallow. Stop the credit to countries who can't repay the debt. Rescue the banks again, them failing isn't an option. And if needs be, kick out the weak countries.

The EU gravy has hit the buffers.

Quote:

Originally Posted by Paul Markham (Post 18985107)

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.

fixed things for me... so he knows more...

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...

Quote:

Originally Posted by wehateporn (Post 18985095)

I like you're way of thinking u-Bob :thumbsup

Alex Jones Believes Bilderberg Attendees Ship in Gold-Covered Roasted Babies to Eat

http://news.yahoo.com/alex-jones-bel...182414136.html

Quote:

Originally Posted by pornguy (Post 18985393)

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 (Post 18985426)

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.

Quote:

Originally Posted by jMEGA (Post 18985433)

Alex Jones Believes Bilderberg Attendees Ship in Gold-Covered Roasted Babies to Eat

http://news.yahoo.com/alex-jones-bel...182414136.html

Right. It's a Bilderberg delicacy. :disgust

Quote:

Originally Posted by Paul Markham (Post 18985527)

Do the distribute the money loaned as well?

Not really, some of Federal tax revenue is returned to the states in the form of revenue sharing (block grants) and some money for federally funded projects. Road work would be one grant -- like the EU funding 80% of a bridge with the other 20% paid by that state or the local district.

The money is spent not loaned except in the case of bonds sold to the public for these type projects.

The Federal government guarantees Federally Chartered Bank's deposits. The Federal reserve Bank "lends" short term money to Federal Reserve Member Banks at times.

Recently the US Government, itself and by the means of the Federal Reserve Bank (central bank (but a private quasi governmental entity -- Illuminati) :D ) make some loans. i.e.; "bailouts"

The Federal government has long been the guarantor of many loans; mortgages, small business administration loans, student loans ...

Its like the EU would take all EU taxpayer money and use some of it for road bridges in Bulgaria. The Bulgarian would get back 1.15 on his EU tax "donation." This would make the Bulgarians a net recipient. Substitute Greece, Romania, or other lesser income countries within the EU -- they are now states with limited powers subservient to the central EU government.