The Lev or the Euro. Which is the best for Bulgaria?

As it says - all of the financial stuff!

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gimlet
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Postby gimlet » Thu Dec 01, 2011 8:48 pm

The ECB was set up as an independent body specifically to run a safe currency. It is prohibited from doing much else. If all the Eurozone governments start going bankrupt it's as helpless as anybody else. But it's still running a safe currency for the moment.

Sarko in his Toulon speech tonight seems to be saying that the EMU provisions of the former Maastricht Treaty should be torn up and the project should be started again on an intergovernmental basis with strict sanctions. Merkel agrees on the tearing up and restart but wants the EU institutions involved in its oversight, with strict sanctions.

The difference between occupying the Ruhr on the one hand and fining a percentage of GDP on the other :wink:

Sarko's proposal makes more sense in that it would be quicker, national politicians would be the main players and it would be relatively easy for other countries to join in. They would have to have a new common currency, though because France and Germany can't unilaterally abolish the Euro.

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Postby qwerty » Thu Dec 01, 2011 8:59 pm

More brinkmanship, which club will all the EU governments want or have to belong too, new super sleek disciplined Euro or sweaty lazy retire at 40 on borrowed money Euro

The economic chaos will continue deeper and more painful until Berlin gets its way....[/b]

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gimlet
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Postby gimlet » Fri Dec 02, 2011 5:58 am

Chancellor Merkel is addressing the Reichstag or whatever it's called at 8am GMT.

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Postby gimlet » Fri Dec 02, 2011 7:07 am

I've read Sarko's speech now (he seems to have been taking lessons from the Tony Blair school of speech writers!).

There's quite a lot of protectionist sounding stuff in it, he stands by the vital importance of the CAP, he says France has to secure its borders and dump Schengen (bad luck, Borisov!).

But this is the nub of it. With the desperation of a man who sees his triple A credit rating vanishing before his eyes he said

Mais le débat est derrière nous. L'Euro existe. Sa disparition aurait des conséquences dramatiques pour les Français. Elle rendrait notre endettement ingérable.

Bu the debate is behind us. The Euro exists. Its disappearance would have dramatic consequences for the French people. It would render our indebtedness unmanageable.


In fact in the text as delivered he was more specific. He said that paying the debts in a devalued currency would be ruinous.

I await Chancellor Merkel's speech with interest. Mr. Berlusconi is said to have called her an "unf**kable lard arse". I am sure the pocket Napoleon and Carla will give vent to some equally vituperative epithets if she disappoints. I expect she will.

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Postby gimlet » Fri Dec 02, 2011 10:15 am

Well having got up to watch her I fell asleep again and missed what she said :lol:

She didn't say anything new, as far as I can gather, apart from the fact that Sarko's plan was "a second best option". She had a nice word for countries like Bulgaria, which had made sacrifices for the Euro system and had contributed to its being a solid and stable currency.

The heat seems to be off the numbers for the moment. Maybe the Federal Reserve is pumping money into Eurozone Government Bonds. They've hosed everything else with the stuff.

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Postby qwerty » Fri Dec 02, 2011 9:07 pm

gimlet wrote: Mr. Berlusconi is said to have called her an "unf**kable lard arse".


Well Burlusconi did always prefer them younger :lol: European politics will be a little less colourful now hes gone.

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Postby brianj42 » Sat Dec 03, 2011 8:54 am

qwerty wrote:
gimlet wrote: Mr. Berlusconi is said to have called her an "unf**kable lard arse".


Well Burlusconi did always prefer them younger :lol: European politics will be a little less colourful now hes gone.


Look up Burlusconi in the dictionary and it says see pedophilia:

pedophilia /pe·do·phil·ia/ (-fil´e-ah) a paraphilia in which an adult has recurrent, intense sexual urges or sexually arousing fantasies of engaging or repeatedly engages in sexual activity with a prepubertal child


Amazing what you can get away with when you happen to be Prime Minister of a country. :D

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Mat
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Postby Mat » Sat Dec 03, 2011 10:17 am

http://www.telegraph.co.uk/news/picture ... op-10.html

Well I'm not sure I'd go for number 5 but the rest would get the green light. And this list doesn't include that Moroccan pocket rocket who, whilst young, could hardly be described as pre-pubescent.

I'll get the bromide.

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Postby lyn » Sat Dec 03, 2011 10:23 am

No 5 looks like Rebecca Wade! Does Berlusconi actually believe that any of these girls/women fancy him?

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Postby Mat » Sat Dec 03, 2011 10:58 am

Of course not, he knows they fancy his money. But when you're in your mid 70's and a multi billionaire, why do you care?


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