“Mrs. Thatcher foresaw with painful clarity the devastation it was bound to cause. Her autobiography records how she warned John Major, her euro-friendly chancellor of the exchequer, that the single currency could not accommodate both industrial powerhouses such as Germany and smaller countries such as Greece.” Thatcher predicted the currency would harm poorer countries because it would “devastate their inefficient economies.” – Washington Examiner
Post Tagged with: "European debt crisis"
June 11, 2012 05:13
Spain and The Runaway Euro Bailout Train
The situation has become so critical that European leaders reportedly are working on the issuance of joint euro bonds to rescue euro. That might save the euro, but here’s one scary question for all–How long can this bailout train and money printing press keep on running?
May 29, 2012 11:14
What If California Were Greece?
What if California behaved like Greece and the rest of the US was asked to pay for its debts and other obligations? What would ensue?
May 18, 2012 05:33
Beginning of the end? Run on Greek banks hits record high
Greeks withdrew more than $900 million Monday and another $600 million Tuesday, according to the Greek Central Bank. While deposits have been steadily leaving banks since the start of the country’s debt problems in 2009, this week’s outpouring of cash reflects a new level of panic, analysts say. – USA Today
May 16, 2012 03:25
Why A Greek Exit From The Euro Would Mean The End Of The Eurozone
If Greece leaves the euro it will set a very dangerous precedent. The moment Greece exits the euro, investors all over the globe will be asking the following question: “Who is next?” Portugal, Italy and Spain would all see bond yields soar and they would all likely experience runs on their banks. It would only be a matter of time before more eurozone members would leave. In the end, the whole monetary union experiment would crumble.
May 15, 2012 06:45
New Socialist Path for France
Francois Hollande has been sworn in as president of France, becoming the first Socialist leader in 17 years to occupy the Elysee Palace. – BBC News
May 9, 2012 10:34
EU Titanic has hit the iceberg – facing mass civil unrest, revolution
MEP Nigel Farage at the European Parliament says that what’s happening in the Eurozone could lead to the rise of National Socialism (NAZI). Recent European elections have given rise to socialist and Nazi party gains. Farage calls for the breakup of the EU.
May 9, 2012 06:46
Farewell to ‘Europe’?
Needless to say, if Europe once again descends into the vortex of economic privation, religious and/or ethnic “cleansing” and possibly strife that has happened so often there, our own tranquility and prosperity will be jeopardized, as well.
May 9, 2012 04:43
SPAIN IS CRATERING, Europe Falling
In the few moments since the Spanish 10-year crossed 6 percent, European markets have turned around and are moving into the red. Spain is now down over 2.6 percent. – Business Insider
May 3, 2012 08:26
Oil shock, Euro crash, U.S. fiscal cliff paint dark future says Dr. Doom
Nouriel Roubini who is famous for predicting the financial collapse which earned him the nickname “Dr. Doom” cited a Middle East conflagration oil crisis, “austerity fatigue” and “bailout fatigue” in Europe, and the “fiscal cliff” faced by the U.S. in a doom and gloom scenario.
