I haven't heard from Mircea in a while.
(Zoran, 17 May 2010 16:55
Mircea is probably trying to absorb the latest cuts,25%
to be exact,on all salaries and 15% on pensions and benefits recently announced by the Romanian goverment.
These cuts were dictated by the IMF in order to grant Romania 20 billion euros in loans.
A number of people cannot understand the Euroland was nothing more than a flawed political experiment with the citizens of Europe being asked very rarely, if at all, if they wanted it.
Now they are sent the most collosal bill for the ever-present largesse behind the scenes all for their own good, of course.
All the exporters here in Italy are welcoming the Madoff of the acropolis for their big achivements..At the same time fears are growing for the speed of the fall...It will be nice if Euro slide calmly into the parity-1.10 area ..zz
It all stems from investor fears that a 750-billion-euro rescue package agreed last week to prop up the single currency may not be enough.
There seems to be little market confidence that the likes of Greece, Portugal, Spain and Italy will be able to get to grips with their levels of soverign debt.
B92
The 750 billion euros thrown in by the ECB was nothing more than a desperate attempt
by the EU to contain the dips in the value of the single currency.
Make no mistake. This is not a bailout. A bailout implies that their response is a problem solver. Not so. The EUs response is a desperate attempt to stabilize what was clear to European officials a death spiral of the 11-year old European monetary union and even that of the EU itself.
One thing is for certain: The sovereign debt crisis will not stop in its tracks.
With the rule book in Europe thrown out like last week's fish, the euro is in devaluation mode and so is the debt of all euro members. When it's all said and done, the euro may exist in name, but it will be composed of different members and different rules i.e. a new currency with an old name.
It all stems from investor fears that a 750-billion-euro rescue package agreed last week to prop up the single currency may not be enough.
There seems to be little market confidence that the likes of Greece, Portugal, Spain and Italy will be able to get to grips with their levels of soverign debt.
B92
The 750 billion euros thrown in by the ECB was nothing more than a desperate attempt
by the EU to contain the dips in the value of the single currency.
Make no mistake. This is not a bailout. A bailout implies that their response is a problem solver. Not so. The EUs response is a desperate attempt to stabilize what was clear to European officials a death spiral of the 11-year old European monetary union and even that of the EU itself.
One thing is for certain: The sovereign debt crisis will not stop in its tracks.
With the rule book in Europe thrown out like last week's fish, the euro is in devaluation mode and so is the debt of all euro members. When it's all said and done, the euro may exist in name, but it will be composed of different members and different rules i.e. a new currency with an old name.
I haven't heard from Mircea in a while.
(Zoran, 17 May 2010 16:55
Mircea is probably trying to absorb the latest cuts,25%
to be exact,on all salaries and 15% on pensions and benefits recently announced by the Romanian goverment.
These cuts were dictated by the IMF in order to grant Romania 20 billion euros in loans.
A number of people cannot understand the Euroland was nothing more than a flawed political experiment with the citizens of Europe being asked very rarely, if at all, if they wanted it.
Now they are sent the most collosal bill for the ever-present largesse behind the scenes all for their own good, of course.
All the exporters here in Italy are welcoming the Madoff of the acropolis for their big achivements..At the same time fears are growing for the speed of the fall...It will be nice if Euro slide calmly into the parity-1.10 area ..zz
All the exporters here in Italy are welcoming the Madoff of the acropolis for their big achivements..At the same time fears are growing for the speed of the fall...It will be nice if Euro slide calmly into the parity-1.10 area ..zz
It all stems from investor fears that a 750-billion-euro rescue package agreed last week to prop up the single currency may not be enough.
There seems to be little market confidence that the likes of Greece, Portugal, Spain and Italy will be able to get to grips with their levels of soverign debt.
B92
The 750 billion euros thrown in by the ECB was nothing more than a desperate attempt
by the EU to contain the dips in the value of the single currency.
Make no mistake. This is not a bailout. A bailout implies that their response is a problem solver. Not so. The EUs response is a desperate attempt to stabilize what was clear to European officials a death spiral of the 11-year old European monetary union and even that of the EU itself.
One thing is for certain: The sovereign debt crisis will not stop in its tracks.
With the rule book in Europe thrown out like last week's fish, the euro is in devaluation mode and so is the debt of all euro members. When it's all said and done, the euro may exist in name, but it will be composed of different members and different rules i.e. a new currency with an old name.
I haven't heard from Mircea in a while.
(Zoran, 17 May 2010 16:55
Mircea is probably trying to absorb the latest cuts,25%
to be exact,on all salaries and 15% on pensions and benefits recently announced by the Romanian goverment.
These cuts were dictated by the IMF in order to grant Romania 20 billion euros in loans.
A number of people cannot understand the Euroland was nothing more than a flawed political experiment with the citizens of Europe being asked very rarely, if at all, if they wanted it.
Now they are sent the most collosal bill for the ever-present largesse behind the scenes all for their own good, of course.
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