A Funny Thing Happened At The G20 | 192 comments (192 topical, editorial, 0 hidden)

Re: But the claim that government spending ... (none / 1)

Not before the bond markets attack France. How long until that happens?

By laying out pros and cons we risk inducing people to join the debate, and losing control of a process that only we fully understand. - Alan Greenspan

by Carrie (migeru at eurotrib dot com) on Mon Jun 7th, 2010 at 04:27:03 AM EST
[ Parent ]

Re: But the claim that government spending ... (none / 1)

From the quoted article:

It did not help that the Irish Minister of Finance announced Ireland has 74.2bn euros of guaranteed bank loans, bonds, and systemic support falling due between now and Oct 1. This is around 55% of GNP. It sounds like everyone backed by the Irish government had the "clever" idea to roll over their debts to just before the guarantees expire.

WHO COULD HAVE FORESEEN?

This is financial tragi-comedy at its finest! A government dedicated to insuring that its feckless financial elites do not suffer for their folly, and who is praised by the WSJ for so doing, is brought low by the markets. A classic "What have you done for me lately!"

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Mon Jun 7th, 2010 at 11:08:36 PM EST
[ Parent ]

Re: But the claim that government spending ... (none / 1)

How long before the bond markets are attacking a qualified majority of EU nations? And will a qualified majority of EU nations exercise their existing power to attack back?

I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.

by BruceMcF (agila61 at netscape dot net) on Tue Jun 8th, 2010 at 02:44:44 PM EST
[ Parent ]

Re: But the claim that government spending ... (none / 1)

What I mean is that things will come to a head when the bond markets attack France and Germany does nothing.

By laying out pros and cons we risk inducing people to join the debate, and losing control of a process that only we fully understand. - Alan Greenspan

by Carrie (migeru at eurotrib dot com) on Wed Jun 9th, 2010 at 08:10:43 AM EST
[ Parent ]

Re: But the claim that government spending ... (none / 0)

But the other question is also relevant: What happens if and when the bond markets attack enough EU members to make up, say, an enhanced cooperation group? Can you make an enhanced cooperation group with the explicit purpose of enhancing the ability of the members to cooperate cutting the balls off some banksters?

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Wed Jun 9th, 2010 at 01:42:30 PM EST
[ Parent ]

Re: But the claim that government spending ... (none / 0)

Of course you can. But you don't need an enhanced cooperation group to have state-level fiscal and regulatory cooperation. However, an enhanced cooperation group certainly has more ramifications...

By laying out pros and cons we risk inducing people to join the debate, and losing control of a process that only we fully understand. - Alan Greenspan

by Carrie (migeru at eurotrib dot com) on Wed Jun 9th, 2010 at 02:30:11 PM EST
[ Parent ]

A Funny Thing Happened At The G20 | 192 comments (192 topical, 0 editorial, 0 hidden)

Top Diaries

The problems with formal education

Speaking right: What an Taoiseach should say in Washington

Ambushing an Taoiseach

Net Zero Energy - March 2025

We do have the cards

Manipulating Irishness

Thomas Paine's Age of Reason

Recent Diaries

Medieval Persecution of Jews Linked to Cold Snaps

Genocide On Defenseless People in Gaza

AMERICA! the Deadbeat Democracy

America Should Know Better

Crossroads, Ukraine Loses Either Way

Like a tsunami rolling ashore ...

Breaking: A Christian In the Kremlin

Going Down!

The Inside Job to Murder JFK [Update]

Ukraine Victory In Retreat

Ceasefire Negotiations Step by Step

17th of March

Ukraine Violated Human Rights in Odessa - 2014

Rutte In the Apprentice Theatre

Rearming Europe Peace Through More War

Keith Kellogg Is Out

Nordic States Join Baltics Again WWII Redux

Goodbye NATO/USA, Welcome Europe's E5

Zelensky and the Terror State Ukraine

EU Commissioner VDL In Full Panic Mode

Occasional Series