Reply With QuoteNew Democracy could not form a government. Samaras has given back the order to form a government. Now it's Tsipras' chance. I think it's nearly impossbile for the opposition to form a government however. It looks we are going back to elections.
By the numbers of MPs, I would say there could be a government formed with opposition parties without New democracy and PASOK.Originally Posted by D-Mitch
New Democracy could not form a government. Samaras has given back the order to form a government. Now it's Tsipras' chance. I think it's nearly impossbile for the opposition to form a government however. It looks we are going back to elections.
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Have fun convincing communists, Nazis and social democrats to get along with each other in a coalition...
From what I'm reading even some Euro(currency) optimists are beginning to shift in their belief FROM the Euro eventually being fully federalized within a smaller core of responsible like minded nations TO a Euro collapse.....possibly with Germany itself pulling out of it, rather than kicking out the weak.
All just speculation.....but it would certainly be in the best interest of the US to see a Euro currency collapse to prevent global reserve currency competition.
It would allow the PIGS to revert to their former currency, devalue, and export more freely.
Exporting only farming products dosent help much you know , Greece is all about tourism and sailing, industrialization takes time , and that time will get prolonged out of euros help.
I guess I belong to PIGS, thanx Ordie
Last edited by D-Mitch; 05-07-2012 at 05:25 PM.
But you can be more competitive in exporting goods, attracting tourism, and investors.
Specifically, print money to "solve" their problems.
I guess you haven't heard, bro, all the cool kids are doing it.
Yup...which would bring it's own set of advantages and problems.....but definitely a temporarily reduced threat against supplanting the US Dollar as global reserve currency....not that the Euro ever had a shot without a cohesive federal system, bond system, and military system to back it up.
From September 2011, situation is not really getting better ...
http://www.pippamalmgren.com/77.html
News to expect in the coming days and weeks:
•Greece defaults
•Germany protects German banks but other countries cannot do the same thus quickly provoking multiple sovereign defaults and or bank failures, all of which may easily lead to a payments crisis in the global banking system. Derivatives are particularly at risk in terms of operation and execution.
•The Euro falls in value especially against the US dollar
•The Germans announce they are re-introducing the Deutschmark. They have already ordered the new currency and asked that the printers hurry up.
•The Euro falls even more on any news that Germany is withdrawing from the Euro.
• Legal wrangling begins as to the legality of Germany’s decision. Resolution takes years.
•Germany insists that the Euro continues to exist even they do not use it any longer. They emphasize that European unification will continue and suggest new legal instruments to strengthen European Unification including new EU Treaties.
Meanwhile, the German Finance Minister recently gave a historic interview with Der Speigel[v] where he said this: Still, we would be a strange government if we didn't prepare ourselves for all eventualities, however unlikely they may be.” What eventualities might he mean? Well, he spells it out later in the interview:
SPIEGEL: In historical terms, there have been only two solutions to these kinds of problems: either inflation, which devalues a country's debts more or less by stealth, although it does the same to citizens' assets …
Schäuble: … or, in the past, a war, which is nowadays, thank God, impossible -- precisely because of the process of European unification …
SPIEGEL: … or at least a monetary reform.
Pippa Malmgren
Philippa "Pippa" Malmgren is a politics and policy expert who used to be Special Assistant to the President of the United States for Economic Policy on the National Economic Council and former member of the U.S. President's Working Group on Financial Markets. She is currently President of the Canonbury Group and co-founder of Principalis Asset Management. She is also a senior consultant on various boards, including Deutsche Bank, a lecturer and the founder of a quarterly publication called Policy & Markets.
Malmgren was named a Global Leader for Tomorrow by the World Economic Forum in Davos in 2000.[1]
http://en.wikipedia.org/wiki/Pippa_Malmgren
Btw,I'm NOT a fan of her ...
She simplyfies a lot and make to many misspppellings
But one of problems of the Euro (from a Government perspective) is the inability to debase your own currency) .
Not that a new dracma would be worth much more than toilet paper anyway.
And yes, everyone is in a race to the bottom.
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