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Monti forms new Italian govt with no politicians

World Nov. 17, 2011 - 06:14AM JST ( 7 )

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7 Comments

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WilliBNov. 17, 2011 - 03:53PM JST

It won´t help. They can not technofix themselves out of the proclems created by the Euro.

David Heathcoat-Amory, Britain's former Europe minister, nailed it when he said recently: "But this won't save monetary union in the end because it is not a debt crisis. It is a currency crisis. The weaker states are uncompetitive and you cannot force them to deflate their way back to competitiveness by cutting wages 30pc. The EU elites won't admit it, but the euro experiment is over,",
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FoxieNov. 17, 2011 - 11:38PM JST

If the Euro is at the end, then the Dollar experiment must be??? The inflation in the Euro-Zone from June 2010 to 2011 was 2.7% compare that to the 3.6% of the Dollar. The Euro is stabler than the Dollar. Nobody seems to talk about Germany's debt which at 81.7% is much higher than that of the 69.6% of Spain.
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TriumvereNov. 18, 2011 - 12:03AM JST

Debt is a funny thing. You can carry a lot of it, so long as you can convince others that you can eventually pay it back.
3

zichiNov. 18, 2011 - 12:13AM JST

If the Euro is at the end, then the Dollar experiment must be???

Maybe the experiment with money is now at its end? Abolish money and it ends debt!
0

FoxieNov. 18, 2011 - 12:22AM JST

zichi, exactly what I have been saying for years. Isn't it ridiculous that we pay $30,000 for a few stones to build our house when the whole planet is full of them?
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WilliBNov. 18, 2011 - 08:16AM JST

Foxie:

" If the Euro is at the end, then the Dollar experiment must be??? "

Why? The Dollar might be devalued, but it certainly is not at an end. The Dollar as a currency makes sense. It does not have the inherent contradictions that the Euro has.

Where do you get off comparing the two? Apples and oranges.
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WilliBNov. 18, 2011 - 11:53AM JST

Triumvere:

" Debt is a funny thing. You can carry a lot of it, so long as you can convince others that you can eventually pay it back. "

LOL, exactly. But that is what financial markets are for.... as a reality check to shout when the emperor has no clothes. And in their infinite wisdom the Eurocrats are not blaming themselves for the mess they created, but the financial markets to call them on it.