The craziness of the #EU #ECB bailouts of #Spain #Greece #Ireland #Italy#Portugal goodness what a mess.

Randy Hilarski

Jun 13, 2012  -  Public

The craziness of the #EU #ECB bailouts of #Spain #Greece #Ireland #Italy#Portugal goodness what a mess.
Check it out +Jack C Crawford +Gary S. Hart +Siamak Manzarpour 

The Genius of Mutual Indebtedness - Nigel Farage

Donate to UKIP: http://www.ukip.org/donations | http://www.ukipmeps.org | http://twitter.com/#!/Nigel_Farage • European Parliament, Strasbourg, 13 June 2012 • Speaker: Nigel Farage MEP, Leader of the UK Independence Party (UKIP), Co-President of the 'Europe of Freedom and Democracy' (EFD) Group in the European Parliament - http://nigelfaragemep.co.uk • Joint debate: European Council meeting - Multiannual financial framework and own resources A. Preparation for the European Council meeting (28-29 June 2012) Council and Commission statements [2011/2920(RSP)] B. Multiannual financial framework and own resources Council and Commission statements [2012/2678(RSP)] Transcript: "Another one bites the dust. Country number four, Spain, gets bailed out and we all of course know that it won't be the last. Though I wondered over the weekend whether perhaps I was missing something, because when the Spanish prime minister Mr Rajoy got up, he said that this bailout shows what a success the eurozone has been. And I thought, well, having listened to him over the previous couple of weeks telling us that there would not be a bailout, I got the feeling after all his twists and turns he's just about the most incompetent leader in the whole of Europe, and that's saying something, because there is pretty stiff competition. Indeed, every single prediction of yours, Mr Barroso, has been wrong, and dear old Herman Van Rompuy, well he's done a runner hasn't he. Because the last time he was here, he told us we had turned the corner, that the euro crisis was over and he hasn't bothered to come back and see us. I remember being here ten years ago, hearing the launch of the Lisbon Agenda. We were told that with the euro, by 2010 we would have full employment and indeed that Europe would be the competitive and dynamic powerhouse of the world. By any objective criteria the Euro has failed, and in fact there is a looming, impending disaster. You know, this deal makes things worse not better. A hundred billion [euro] is put up for the Spanish banking system, and 20 per cent of that money has to come from Italy. And under the deal the Italians have to lend to the Spanish banks at 3 per cent but to get that money they have to borrow on the markets at 7 per cent. It's genius isn't it. It really is brilliant. So what we are doing with this package is we are actually driving countries like Italy towards needing to be bailed out themselves. In addition to that, we put a further 10 per cent on Spanish national debt and I tell you, any banking analyst will tell you, 100 billion does not solve the Spanish banking problem, it would need to be more like 400 billion. And with Greece teetering on the edge of Euro withdrawal, the real elephant in the room is that once Greece leaves, the ECB, the European Central Bank is bust. It's gone. It has 444 billion euros worth of exposure to the bailed-out countries and to rectify that you'll need to have a cash call from Ireland, Spain, Portugal, Greece and Italy. You couldn't make it up could you! It is total and utter failure. This ship, the euro Titanic has now hit the iceberg and sadly there simply aren't enough life boats." .................................. • Video: EbS (European Parliament) .................................. • EU Member States: Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Germany, Denmark, Estonia, Spain, Finland, France, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Sweden, United Kingdom

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4 comments

Randy HilarskiJun 13, 2012

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+Siamak Manzarpour I bet he has a G+ account where he listens to our discussions!

Gary S. HartJun 13, 2012 (edited)

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This was my favorite speech of Nigel's. (I forgot the link) The man is fearless!

http://youtu.be/bdob6QRLRJU

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Alex Schleber

Yesterday 4:47 PM  -  Public

#Euro #econ #Greece  - *some very interesting reporting from the ground in Greece by BusinessInsider editor Joe Weisenthal.*

While the Mainstream Media (MSM) in both the U.S. and increasingly in Europe is making a mockery of their role to inform the public, probably because of developments like this one

-> businessinsider.com/these-6-corporations-control-90-of-the-media-in-america-2012-6 (great #infographic...

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I Just Saw The Most Feared Man In All Of Europe »

He threatens to destabilize the whole thing.

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4 comments

Alex SchleberYesterday 5:15 PM

More from Handelsblatt, sounds like the German gov't is still fairly firmly in denial about the explosiveness of the entire situation, at least the way things are being officially reported -> handelsblatt.com/finanzen/boerse-maerkte/anlagestrategie/euro-krise-was-kann-die-regierung-im-ernstfall-tun/6755462-4.html

Alex SchleberYesterday 5:17 PM

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Curated/related: "NIALL FERGUSON: 'If There's Going To Be A Lehman Moment In The Crisis, It's Going To Be Next Week'" ->businessinsider.com/the-financial-equivalent-of-the-cuban-missile-crisis-2012-6

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Isabel del Rio

Jun 11, 2012  -  Public

Yareah Magazine originally shared this post:

Aristotle on YAREAH MAGAZINE http://yareah.com/?p=74 #Aristotle#OldGreece #Philosophy #greece  +Martin Cid +Yareah Magazine +Isabel del Rio 

AristotleAristotleAristotle »

by Ron Schuler The diametric differences in approach between Aristotle and Plato, Aristotle's teacher at the Academy in Athens, are deeply embedded in much of what...

+1

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Randy Hilarski

Jun 11, 2012  -  Public

Let them go Bankrupt (Companies and Nations)
When you fail you fail, competent people will come
in buy and reorganize the assets and start over.

Instead we bail out incompetent people with our money
and let the incompetent people compete with the competent
and guess who wins.
#Spain #GM #Greece   #Kodak  #Chrysler #Chase #Bankofamerica