The collapse of the euro. It can't survive if anyone defaults because of the knock on across the eurozone. As I said, why do you suppose there was all the panic about Greece? Italy is not survivable.
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Taxing the super rich
- Thread starter KS55
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The collapse of the euro. It can't survive if anyone defaults because of the knock on across the eurozone. As I said, why do you suppose there was all the panic about Greece? Italy is not survivable.
aguero93:20
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Arkansas, 1933. Wales, Mining strikes, Ireland, famine. Bigger consequences.The collapse of the euro. It can't survive if anyone defaults because of the knock on across the eurozone. As I said, why do you suppose there was all the panic about Greece? Italy is not survivable.
Arkansas, 1933. Wales, Mining strikes, Ireland, famine. Bigger consequences.
You did see the financial crisis over the last decade didn't you? Multiply it by ten.
aguero93:20
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Ten? Piss off with that, the financial crisis was basically the US defaulting and nobody having the stones to pull them up on it, an Italian default wouldn't come near that in terms of market forces.You did see the financial crisis over the last decade didn't you? Multiply it by ten.
How much was wiped off markets in the sub prime crisis and how much do Italy owe?
Ten? Piss off with that, the financial crisis was basically the US defaulting and nobody having the stones to pull them up on it, an Italian default wouldn't come near that in terms of market forces.
How much was wiped off markets in the sub prime crisis and how much do Italy owe?
You don't seem to get the cascade failures this would bring. Italy's Target 2 liabilities are around £500 billion. The euro is entirely bound up in mutual arrangements, which is not in itself unusual, but it has no central Treasury or lender of last resort. That's the problem. That's why it's different to anything else. It's why it's so uniquely vulnerable. It's why Greece nearly brought the whole thing crashing down and why they were sacrificed.
Henkeman, following the last few pages of this thread, you have explained so well things I only vaguely understood. Thanks for that.You don't seem to get the cascade failures this would bring. Italy's Target 2 liabilities are around £500 billion. The euro is entirely bound up in mutual arrangements, which is not in itself unusual, but it has no central Treasury or lender of last resort. That's the problem. That's why it's different to anything else. It's why it's so uniquely vulnerable. It's why Greece nearly brought the whole thing crashing down and why they were sacrificed.
Chippy_boy
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Never said you did. I'm debating this point:
"And you think the amount of coffee sold would not decline if the price goes up? Hmmmm, interesting theory which seems to have evaded the capitalist world for the past 100 years."
Really? How very unwise.
Armchair Supporter
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The collapse of the euro. It can't survive if anyone defaults because of the knock on across the eurozone. As I said, why do you suppose there was all the panic about Greece? Italy is not survivable.
And the reason Ireland got saddled with huge debt (To save the euro).
The EU is not all champagne and strawberries...
I'm With Stupid
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Ah the usual "I can't defend my argument so I'm just going to act like it's obviously true" line. It's getting pretty common round here lately.Really? How very unwise.
Chippy_boy
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Have a word with Stupid. If you want to imagine that there's no correlation between price and sales volume, please carry on in your bubble.Ah the usual "I can't defend my argument so I'm just going to act like it's obviously true" line. It's getting pretty common round here lately.