EU threatened Ireland with bankruptcy

[medusala]

Just to prove Obama getting the peace prize wasn't a one off joke. Hardly the only time either (Cyprus).

The EU leaves the US in its wake for 1st world regime change (not to mention politicians fleecing taxpayers)

http://www.independent.ie/irish-new...ika-threats-to-bankrupt-ireland-30621197.html

Senior European and European Central Bank (ECB) officials agreed to threaten Ireland with national bankruptcy if the government made any attempt to burn bondholders, the Sunday Independent can reveal. -

The threat was made at a high-level teleconference meeting, details of which have been revealed for the first time by the Central Bank governor, Dr Patrick Honohan. -

 

[The Coup]

meds you are a big critic of the EU and I'm not a fan either from what I know, I'm just fairly uninformed on the issue.

Reckon they regret admitting all these nations with revolutionary/socialist histories? How was a German or Dutch nation ever going to have similar monetary policy to Ireland, Spain, Greece etc?

Could they not see cultural differences in the approach to work/life balance was going to eventually cause huge divides based on productivity, essentially turning all work/life balance arguments into an argument of "Well the Germans do it, so everyone has to work like Germans!" even though the average Italian would rather boldly crack onto a tourist from the Central Coast and sip a machiatto?

Now Ireland, the country fondly described as a banking system with a country attached to it, is threatened with bankruptcy after accepting cheap credit they were offered in a predatory manner and should never have been given?

What's the relevance though? What's your interpretation?

 

[Slax]

Just to prove Obama getting the peace prize wasn't a one off joke. Hardly the only time either (Cyprus).

The EU leaves the US in its wake for 1st world regime change (not to mention politicians fleecing taxpayers)

http://www.independent.ie/irish-new...ika-threats-to-bankrupt-ireland-30621197.html

Senior European and European Central Bank (ECB) officials agreed to threaten Ireland with national bankruptcy if the government made any attempt to burn bondholders, the Sunday Independent can reveal. -

The threat was made at a high-level teleconference meeting, details of which have been revealed for the first time by the Central Bank governor, Dr Patrick Honohan. -

This is what is caused by being part of the Euro being given to countries where teh economic basis for a stable economy was not there.

 

[The Coup]

You could say that, but would Ireland have faced such a ridiculous housing and financial bubble if they weren't part of the euro?

Doesn't look like it was a great deal for either party in hindsight. Ireland got a housing boom and a gigantic crash, Eurozone gets a basketcase.

 

[little graham]

Pilger wrote a very good article recently about 1st world regime change a lot closer to home..

 

[medusala]

Reckon they regret admitting all these nations with revolutionary/socialist histories? How was a German or Dutch nation ever going to have similar monetary policy to Ireland, Spain, Greece etc?

Coup, yes and no. They certainly (ie Germans) regret Greece being allowed in. They weren't happy at the time and the Greeks lied repeatedly re their economic position. There are a couple of good books on this, the Michael Lewis one was ok and another UK journo wrote an excellent one - cant recall it off the top of my head.

Could they not see cultural differences in the approach to work/life balance was going to eventually cause huge divides based on productivity, essentially turning all work/life balance arguments into an argument of "Well the Germans do it, so everyone has to work like Germans!" even though the average Italian would rather boldly crack onto a tourist from the Central Coast and sip a machiatto?

The siesta is still going strong. You would think a major recession would kill the old lunch time snooze (and the entire place shutting down in August). But no. Someone (Ferguson?) noted that whilst the Southern countries had repeatedly defaulted on their debts the northern ie germnanic countries had rarely done so.

What's the relevance though? What's your interpretation?

The EU is storing up massive trouble. Its incredibly undemocratic and corrupt. Auditors have refused to sign off the budget for over a decade. We can all laugh at the US yet the EU has forced unelected governments on Italy, forced Cyprus in to certain policies, ditto Greece. Not to mention starting a war in Ukraine.

The EURO was a stupid idea. The EU will bankrupt a number of countries in order to try and save it. The average Joe is going (and has been already) to get bent over in a very painful way by the Brussels elite.

 

[The Coup]

Just throwing completely unsourced and biased opinion into it: Reckon its got something to do with the fact each nation, or each culture, might want some form of control over their own working life and monetary policy?

You mention the siesta should go the way of the dodo for the southern countries to keep pace. I imagine you feel the same way about the French reducing their working hours or the Danes doing the same etc. I guess the thing that bothers me the most, is the EU is thoroughly undemocratic when it comes to monetary policy - and realistically in times of financial strife, monetary policy is the kind of thing peoples tend to want to hold their elected reps to account over - it just doesn't seem they have that option with the EU.

 

[medusala]

You mention the siesta should go the way of the dodo for the southern countries to keep pace. I imagine you feel the same way about the French reducing their working hours or the Danes doing the same etc. I guess the thing that bothers me the most, is the EU is thoroughly undemocratic when it comes to monetary policy - and realistically in times of financial strife, monetary policy is the kind of thing peoples tend to want to hold their elected reps to account over - it just doesn't seem they have that option with the EU.

Monetary policy everywhere is undemocratic ie typically the central banks are independent (well in theory). The EU makes a large chunk of the law in member states. That is incredibly undemocratic ie the Germans and French decide a huge chunk of British law.

NB the book I mentioned earlier but couldn't name is

Bust: Greece, the Euro and the Sovereign Debt Crisis by Matthew Lynn

 

[The Coup]

And now Greece threatens EU with Communism!

HAHAHAHA

http://www.theguardian.com/world/2014/dec/23/syriza-john-milios-greece-eurozone