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Thread: Germany slams 'stupid' US plans to boost EU rescue fund

  1. #1

    Germany slams 'stupid' US plans to boost EU rescue fund

    :rotfl:

    Germany and America were on a collision course on Tuesday night over the handling of Europe's debt crisis after Berlin savaged plans to boost the EU rescue fund as a "stupid idea" and told the White House to sort out its own mess before giving gratuitous advice to others.

    [url]http://www.telegraph.co.uk/finance/financialcrisis/8793010/Germany-slams-stupid-US-plans-to-boost-EU-rescue-fund.html[/url]

    [IMG]http://thepeoplescube.com/images/Obama_Coin_ExactChange_160.gif[/IMG]

    Barack Inssein Obozo!

    Mmmmmmmmmm mmmmmmmm mmmmmmmmmmmmmm!

    [IMG]http://www.moonbattery.com/Crooks-Commies.jpg[/IMG]
    [IMG]http://www.iaza.com/work/110702C/iaza15144951595000.jpg[/IMG]

  2. #2
    Tim Geitner above all people telling Europe hoe to fix their financial problem.
    Hey Geitner get our finances fixed before shooting your mouth off to someone else.

  3. #3
    [QUOTE=MnJetFan;4164093]Tim Geitner above all people telling Europe hoe to fix their financial problem.
    Hey Geitner get our finances fixed before shooting your mouth off to someone else.[/QUOTE]

    "One day I'm gonna sit in the big boys chair!"

    [IMG]http://www.iaza.com/work/110929C/iaza19599569730700.jpg[/IMG]

    [B][U]Obama's Euro-Crisis Lecture Is 'Pitiful and Sad'[/U][/B]

    US President Obama has given the Europeans a harsh lecture on the dangers of their ongoing debt crisis. Offended by the unsolicited advice, Europeans have suggested the US get its own house in order first. Obama's remarks were "arrogant" and "absurd," German commentators say on Wednesday.

    [url]http://www.spiegel.de/international/world/0,1518,788807,00.html[/url]

  4. #4
    Europe's problems = America's problems

    The world economy is extremely interconnected and if Greece defaults on its debts the implications would be disastrous for the EU and the rest of the world.

    Germany is pissed because the US is actually making them look bad for wanting to help out when they are trying to duck bailing out the Greeks. No country in the EU has benefited more from the Eurzone and its trade reforms than Germany and its export economy and now the biggest beneficiaries of the Eurozone are worried they may actually have to help out a country they are (voluntarily) interconnected with. Greece is in the mess it's in primarily because no one in that country wants to pay taxes and I don't just mean income tax it's also big in their culture to avoid paying sales taxes.

    [B]But hey you guys went to the Glenn Beck school of history and George W. Bush school of economics so you know about the Eurozone.[/B]
    Last edited by TerminatorJet; 09-28-2011 at 01:36 PM.

  5. #5
    Stupid
    Arrogant
    Absurd
    Pitiful
    Sad

    Wow, the Germans really summed up B.O.

    [IMG]http://thepeoplescube.com/images/Obama_Coin_ExactChange_160.gif[/IMG]

    Mmmmmmmmmm mmmmmmmm mmmmmmmmmmmmmm!

    God willing, soon we will be adding convicted felon to the list.

  6. #6
    [QUOTE=TerminatorJet;4164114]Europe's problems = America's problems

    The world economy is extremely interconnected and if Greece defaults on its debts the implications would be disastrous for the EU and the rest of the world.

    Germany is pissed because the US is actually making them look bad for wanting to help out when they are trying to duck bailing out the Greeks. No country in the EU has benefited more from the Eurzone and its trade reforms than Germany and its export economy and now the biggest beneficiaries of the Eurozone are worried they may actually have to help out a country they are (voluntarily) interconnected with. Greece is in the mess it's in primarily because no one in that country wants to pay taxes and I don't just mean income tax it's also big in their culture to avoid paying sales taxes.

    [B]But hey you guys went to the Glenn Beck school of history and George W. Bush school of economics so you know about the Eurozone.[/B][/QUOTE]

    Maybe the Germans finally learned a history lesson, apparently Obama should shut his mouth and try to act intelligently if possible. BTW I didn't know Beck or Bush had an economics school but neither does Obama or Geitner!

  7. #7
    "Dumm, mitfühlendes... how do you say pitiful in Austrian?" -Barry Obuttocks

    :rotfl:

  8. #8
    Jets Insider VIP
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    Ironing. On a massive, legendary scale. :rolleyes:

  9. #9
    Greek bank stocks plunge 13 percent on haircut fears

    tweet3EmailPrint..Topics:InternationalBonds.On Monday October 24, 2011, 4:04 am EDT
    ATHENS (Reuters) - Greek bank shares (^FTATBNK - News) shed more than 13 percent on Monday on fears that a deeper markdown on Greek government bonds held by the private sector would force lenders to seek state support to recapitalize.

    "Talk of haircuts ranging from 40 to 50 percent on Greek government bonds could mean resorting to the capital support backstop, the Financial Stability Fund (FSF) for some banks," said analyst Maria Kanellopoulou at Euroxx Securities.

    At 0753 GMT (3:53 a.m. EDT) the Athens bourse's banking index (^FTATBNK - News) was down 12.4 percent to 328.9 points, with Attica Bank (Athens:BOAR.AT - News) losing 22.1 percent and Eurobank (Athens:EFGR.AT - News) down 16.5 percent.

    "There is heightened uncertainty after reports of a significant increase in the private sector involvement (PSI)," said analyst Nick Koskoletos at Eurobank Securities.

    (Reporting by George Georgiopoulos)

    [url]http://www.reuters.com/finance/markets/europe[/url]

  10. #10
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    So you think Germany should not bail out the banks?

    They should allow Greece to fail and hope there is not a cascade of other failures?

    Or do you just take the opposite position of the Obama administration no matter what?

  11. #11
    [QUOTE=Frequent Flyer;4164442]"Dumm, mitfühlendes... how do you say pitiful in Austrian?" -Barry Obuttocks

    :rotfl:[/QUOTE]

    I think with the O it is more Irish but he must have got lost! One of the 13 tribes of Israel really screwed up!

  12. #12
    [QUOTE=Frequent Flyer;4164442]"Dumm, mitfühlendes... how do you say pitiful in Austrian?" -Barry Obuttocks

    :rotfl:[/QUOTE]

    I think with the O it is more Irish but he must have got lost! One of the 13 tribes of Israel really screwed up!

  13. #13
    [QUOTE=Frequent Flyer;4164442]"Dumm, mitfühlendes... how do you say pitiful in Austrian?" -Barry Obuttocks

    :rotfl:[/QUOTE]

    I think with the O it is more Irish but he must have got lost! One of the 13 tribes of Israel really screwed up!

  14. #14
    [QUOTE=Buster;4206524]So you think Germany should not bail out the banks?

    They should allow Greece to fail and hope there is not a cascade of other failures?

    Or do you just take the opposite position of the Obama administration no matter what?[/QUOTE]

    Should the US have let Viet Nam fall to the Commies? Greece is already gone.

  15. #15
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    [QUOTE=Winstonbiggs;4206713]Should the US have let Viet Nam fall to the Commies? Greece is already gone.[/QUOTE]

    On NPR some “expert” was saying with TARP it was decisive and quick. This gave the Markets some hope. Germany and the EU are fiddling while the EU burns. Everyone knows there will be a bailout. Delaying it is just causing needless harm.

  16. #16
    [QUOTE=Buster;4207309]On NPR some “expert” was saying with TARP it was decisive and quick. This gave the Markets some hope. Germany and the EU are fiddling while the EU burns. Everyone knows there will be a bailout. Delaying it is just causing needless harm.[/QUOTE]

    Greece is going to default the question is can they pull together enough resources to put a fire wall around Italy, Spain and France.

    The US bail out was much more than just TARP. We used the FDIC and the Fed to merge banks, close banks and dump toxic assetts onto the FDIC side of the investment banks. We also printed money like crazy to inflate the value of the bad assetts on the balance sheets.

    TARP wasn't decisive at all this stuff is still out there and housing is likely to be an economic drag for years.

    Letting the Greeks go with a plan for the rest of Europe would be decisive.
    Last edited by Winstonbiggs; 10-25-2011 at 03:51 PM.

  17. #17
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    [QUOTE=Winstonbiggs;4207337]Greece is going to default the question is can they pull together enough resources to put a fire wall around Italy, Spain and France.

    The US bail out was much more than just TARP. We used the FDIC and the Fed to merge banks, close banks and dump toxic assetts onto the FDIC side of the investment banks. We also printed money like crazy to inflate the value of the bad assetts on the balance sheets.

    TARP wasn't decisive at all this stuff is still out there and housing is likely to be an economic drag for years.

    Letting the Greeks go with a plan for the rest of Europe would be decisive.[/QUOTE]

    i think you meant 'deflate' not inflate

    But you are right many things were done but it was all Federal Government action.

    The question is:

    Is the EU one 'nation' or not?

    It is easy to share an economy in boom-times but when the going gets tough for your neighbor is he your fellow countryman or a stranger?

  18. #18
    [QUOTE=Buster;4207363]i think you meant 'deflate' not inflate

    But you are right many things were done but it was all Federal Government action.

    The question is:

    Is the EU one 'nation' or not?

    It is easy to share an economy in boom-times but when the going gets tough for your neighbor is he your fellow countryman or a stranger?[/QUOTE]

    The EU isn't one nation and like the US has political reality to deal with. I meant inflate the value of the assetts. Why else would you print money?

  19. #19
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    [QUOTE=Winstonbiggs;4207369]The EU isn't one nation and like the US has political reality to deal with. I meant inflate the value of the assetts. Why else would you print money?[/QUOTE]



    Ok. I meant more money makes things less valuable in terms of "real dollars" thus those things values are deflated (smaller) and the hit to the banks would be less.

    IMHO the EU has got to be one nation and one currency or many nations and many currencies or it won’t work.

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