Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
This is why the only solution to the current account imbalance is transfers.

if that's the quid, what's going to be the pro quo?

what's a possible incentive get those ingots  evacuated?

if hard money BB plutocrats can block a euro-wide solution so long and effectively, what's a win-win end game that could be sufficiently persuasive to convert the recalcitrant?

what's the hook for public pressure to hang on? occupying banks ain't cutting it, yet the people are seeing their quality of life diminishing without fully understanding the mechanics of how it happened.

the good ship europe is listing, water's rushing into the hold, how to plug the leaks to re-accomplish reflotation? to repair what's broken may consist of reverse engineering the causation, with as little disappointment or damage as possible, or to try a whole new model of economic governance, but to get stuck sitting on a fence arguing sides is like waiting for the aliens to come down with a global budget plan. if a debt-rock burst your hull, using a bigger rock to try to fix the problem seems stupid. if growth of certain elements of industrial policy shudders to a halt without tax breaks and subsidies yet dear leaders cannot reconcile themselves to reconfigure policies to reflect new realities, what do we need?

some geithner/bernanke figure to find a burning bush to listen to and come down the hill with some new economic ten commandments.

even here there's so much still discussed... i know these knaves have covered their tracks well, have had scads of luxurious leisure time to hatch their plans, compliant media aid in the layers of obfuscation, and keeping us always feeling like it's some deus ex machina that's responsible, whereas everyone here seems to be clear that it isn't, this is clusterfuck salad of greed, injudicious bets, pathetic regulation, incompetence, malice, resource shrinkage/population expansion, not enough euro-babies/too many immigrants, any or all the above...

there seems to be a significant consensus we're pretty doomed, that this story cannot but end messily, some even speculating armed infra-european conflict.

if we're in a maze, what i would like to know is is there a thread, however improbable that could lead us out?

or are we really condemned to waiting for so much blood in the street that governments have to relent and a debt jubilee is the only way to stop the rage of those feeling utterly unrepresented by their political systems?

maybe we need olympics every year!

'The history of public debt is full of irony. It rarely follows our ideas of order and justice.' Thomas Piketty

by melo (melometa4(at)gmail.com) on Tue Aug 28th, 2012 at 07:41:57 PM EST
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