From Market Watch:
Italy’s economy minister has said that a solution to the euro zone’s current debt crisis would be the creation of euro bonds, according to a report published Saturday.
Reuters reported that Giulio Tremonti said that such bonds would have prevented the continent from reaching the point it has, with Greece, Ireland and Italy among countries pushing through austerity measures in the hope of avoiding sovereign defaults.
Tremonti said joint-issued bonds would make nations’ debt a shared burden, and was quoted by Reuters as saying that they would be “master solution” to the crisis…
It is actually a way of making Germany a co-signer on Italy’s debt…and Spain’s and Portugal’s and Greece’s, etc, etc etc. I’m not enough of a finance guy to figure out exactly how such a thing would play out, but I do know enough to understand that Germany cannot underwrite the bad debt of the Eurozone. This may well plug the leak, but only for a few months…and you’d have to get German taxpayers to agree to put their stellar bond rating on the line for Italy and the rest of the PIIGS. That is a dicey proposition, at best.
In the end, the fact remains that the PIIGS (Portugal, Italy, Ireland, Greece and Spain) owe far more than their economies can pay back . There is no way to make up for this deficit between debt and wealth…either by printing money (and thus devaluing the currency) or by straight default, those who hold the bonds of the PIIGS will have to take a loss. There may be a way to soften the blow, but the blow must fall…default (straight up or disguised) absolutely will happen.
Blogs For Victory 
Sooner or later the krauts will stop paying for southern europe to lay around in the sun. I for one am looking forward to it. It will be interesting to say the least.
GMB,
We’ll see how long that takes – the Germans, especially the German Ruling Class, has been determined since WWII to be “good Europeans” and thus have gone to the mat again and again to do what the rest of the European Ruling Class wants…but popular revolt is growing in Germany.
wait and see, things will get much better in europe when the socialists and muslims take over….wy just look at England……
PS
anyone here how Keef/I love 2 H8 libs made out after the race riots ??
did Spook and Ama elope?
Popular revolt is brewing? No No No No!!. Johan in Duisburg or is it Duisberg? Wants to work longer hours and years of his life. So Jaun in Spain, Giovani in Italy, and Ionos in Greece can have a bit extra time on the beaches or in the taverns.
Wonder what happens when Germany runs out of money?
Spook and Ama have a lower level of tolerance for the liberal sludge that is deposited here far too often. It’s a shame too because I enjoy reading both of their opinions, but when you constantly have the mental droppings of a thomas to wade through, or the moral relativist Casper to suffer through, engaging in any meaningful debate can be difficult.
This current brand of liberalism is nothing more than a collective group of emotionally unstable children and their ring leaders Chris Matthews, and DWS lead the charge of personal destruction at the expense of this great nation.
Hmmm…Interesting to say the least. So in your opinion then, Thomas and casper ran them off? Is there another way this could be taken? Is there something I am not understanding here?
I can tell you thomas that I debate with Spook and Ama outside of this venue, and they are far from running out of ideas. In fact, there are some excellent new ideas coming from the conservative side of the aisle.
cluster,
how about, amazona the stupid and spook the hypocrite simply ran out of ideas and talking points.
I am sure they will come back soon with more of the same bs that they spew all the time.
in the mean time, you can hold down the fort with your faux conservatism and faux caring for others…when in reality, you’re a fear monger and simply an ignorant southern white man.
Read my response above
I have a feeling there is quite a bit you don’t understand, and you can take that anyway you’d like.
No no Cluster please explain. Please tell me your feeling about what I don’t understand. Man up and quit with the insinuations. Say what you mean.
It was a simple straight forward question. Do you care at all to answer?
Answer what? I simply stated why I believe Spook and Ama are absent, based on what I have read from them in the past.
You’re the freak who reads more into everything than what is really there. My comment on “what you don’t understand”, was just a dig at your self perceived superiority, that sailed over your head, and ruffled your feathers. Man up? What a joke.
Asking a question. What is it that I don’t understand? Freak? Thanks for the compliment there Cluster.
Did Thomas and casper run them off? That was the question. Still no answer. Personal attack yes. Answer the question. No.
I don;t know if those two ran them off or not. I can’t get in their head. I do know from previous posts of theirs that they had grown tired of the emotionally unstable liberals here that simply ran the debate in semantic circles. Take that for what it is.
Was that so damn hard? If you can not handle a conservative disagreeing with you, why be here at all? If all you are looking for is reinforcement of your pre existing beliefs why have any debate at all?
This is a least the third you have had at me. “Freak” lol lol
Have a nice day Cluster.
I have no problem with disagreement. I do have a problem with those who have a false sense of self superiority – which is a typical liberal trait, but something I also sometimes find in your posts. All of us are imperfect, and to expect perfection in any candidate is a sure loser, and the feeling I get from you is that unless some conservative politician fits nicely within the confines of your rigid parameters, you will not vote for them. I think you will be hard pressed to ever find an acceptable candidate.
I will admit this again. Yes I am rigid. I am rigid. I am rigid!!!!!! Good enough for you Cluster? Good enough for everyone else?I will state it one more time. It’s not like I have stated it before. I will never again vote for the lesser of two evils. Never. I will not vote for someone who just throws less gas on the fire. Is that hard to understand? I am far from being alone in this thought amoung the socons of this country. See there? I have just given you someone to blame for bams second term. Thats ok though. I am used to it.
You have the right to vote or not as you will.
So far I have expressed support for four different gop candidates on this blog. Did you miss those post?
You remind me of a manager I had to let go years go. He was a great guy, and a good manager – excellent with bottom line management, but not so good with people because of his rigidity. He had one way to motivate someone, and if they didn’t react accordingly, he was out of ideas on how to effectively manage them. We had a diverse employee base, so I had to find someone else who could adapt and find ways to effectively improve the productivity of those he hasn’t much in common with.
So I have to be let go from the Republican Establishment because I am rigid? LOLzer on that one!
So sorry I am not “reacting accordinly” to you Cluster.
You know I will propose this thought to you. That you are just as rigid in your thinking as I am. I will propose the thought that if anyone does not agree with Cluster, there must be something wrong with them. I will propose the thought that if you disagree with Cluster, personal attacks are ok.
I will propose the thought that what Cluster wants is an Echo Chamber not a debate room.
What say you?
I would say you are getting more defensive than you should be. I want the tenth amendment to be adhered to, allowing 50 states to decide their own futures, which will result in 50 ways of governing, most of which I might disagree with, but that is ok. It is easier to influence a governor than it is a POTUS, so any candidate that fully supports the tenth, I can get behind, regardless of their social positions, of which I am much less rigid on than you.
The manager metaphor was just that, a metaphor. You read more into it than need be.
“The manager metaphor was just that, a metaphor. You read more into it than need be.” Defensive? Hardly at all? Trying to understand? Yes. You posted it for a reason. You did not answer my questions. Care to do that?
It just stemmed from your rigid comment. Now you’re reminding me of casper.
somebody pass the popcorn. we have tea party vs. tea party violence.
loving it.
Nobody cares what you think Thomas.
I remind you of Casper now? Good.
You still have not answered my questions. Do you plan to answer them? I have admitted many times that I am rigid in my political beliefs. I will not deny them. I will not change.
Say what you mean. I am inviting you to tell me what you really think of me. No need to worry about my feelings. Let it rip.
I really don’t put too much thought into it, to be honest. I agree with 90% of your posts but I am tiring of the ideologues on both sides. The federal government should be run like a business, not a daycare like liberals want, or a moral authority like some conservatives want. Most social issues belong at the state level with the exception of marriage. Marriage is a status, not just a social standing and honestly the institution of marriage is older than governments, so I believe DOMA is proper at the federal level. However I do fully support civil unions.
I have always liked the line “I don;t even agree with myself 100% of the time”, and I think that’s a good yardstick to use when voting. Just because someone has not taken a position you agree with in the past, doesn’t mean that they will let you down again. Reagan once said “I’d rather you agree with me just 80% of the time, that I can work with”.