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beauanderos
1000+ Penny Miser Member
USA
2408 Posts |
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No82s
Penny Pincher Member
USA
198 Posts |
Posted - 04/18/2010 : 10:35:06
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| Mostly old news. However the euro countries have a great opportunity here. If they can get Greece (and then Portugal, Spain, etc) back on solid economic footing by forcing them to clean up their balance sheets by cutting some of their socialistic programs and raising taxes, the euro will come out of this as a much stronger currency. Doing this without "quanative easing" or whatever the FED is calling printing money, would be a substantial accomplishment. That is a big if though. |
The difference between an optimist and a pessimist is that the pessimist is better informed. |
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Ardent Listener
Administrator
USA
4841 Posts |
Posted - 04/18/2010 : 14:12:39
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If we can get California, Illinois and ......... Well, we can dream can't we?  |
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Think positive. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 04/18/2010 : 14:32:22
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Ain't gonna happen in CA.  |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 04/18/2010 : 14:33:34
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| Actually.. CA is a net donor state when it comes to federal cash flow. |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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Delawhere Jack
1000+ Penny Miser Member
USA
1680 Posts |
 Posted - 04/18/2010 : 15:57:56
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quote:
Originally posted by No82s
Mostly old news. However the euro countries have a great opportunity here. If they can get Greece (and then Portugal, Spain, etc) back on solid economic footing by forcing them to clean up their balance sheets by cutting some of their socialistic programs and raising taxes, the euro will come out of this as a much stronger currency. Doing this without "quanative easing" or whatever the FED is calling printing money, would be a substantial accomplishment. That is a big if though.
Don't hold your breath...
Germany is in a real pickle here, surrounded by "Beggar thy neighbors'". Though they too have drank the socialist kool-aid like the rest of Europe, they have managed to keep labor costs under better control than their neighboring utopias. Through their inherent capacity for excellent craftsmanship, they are still able to produce items for export that are in demand. Something you can hardly say to be true for the PIIGS, (with the exception of Jamesons' Whiskey and Guiness beer  ).
If it were more practical to do so, I would not be surprised to see Germany secede from the EU. By the time P,I,I and S get around to the trough, it may be a different story.
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"Educate and inform the whole mass of the people... They are the only sure reliance for the preservation of our liberty." Thomas Jefferson
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El Dee
Penny Hoarding Member
USA
547 Posts |
Posted - 04/21/2010 : 19:31:29
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Spanish Manchego cheese is good... Italian Ferraris, Ferragamos, Benellis are all good...
No82s: as far as Euroland CUTTING social programs -
Ha ha hahahahahahahahahahaha
*gasp*
HA HA HA HA HA HA HAAAAA
hah *cough*
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Trust the government? Ask an Indian. |
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cptindy
Penny Hoarding Member
572 Posts |
Posted - 04/25/2010 : 14:08:11
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Problem Solved?
I am just a regular Joe but it appears to me as if they are going to loan money to Greece in order for them to make good on their loan payments. Obviously I lack the intelligence to understand the positive effect.
You must be logged in to see this link.
Harry Dunphy and Martin Crutsinger, Associated Press Writers, On Sunday April 25, 2010, 2:32 pm
WASHINGTON (AP) -- Greece's finance minister expressed confidence Sunday that European governments and the International Monetary Fund soon would provide billions of dollars in emergency aid so his debt-burdened nation could make a large repayment on time in May.
The official, George Papaconstantinou, said Greece had no intention of defaulting on its debt obligations by repaying creditors less than what they are owed. After weekend talks at the International Monetary Fund's headquarters blocks from the White House, he said he expected the IMF's executive board in early May to approve Greece's request for about $13.4 billion in loans.
"We are all confident that this will be done in time and we will continue to be able to finance Greek public debt without absolutely any problem," Papaconstaninou told reporters.
The IMF's managing director, Dominique Strauss-Kahn, said he was optimistic that "we will conclude discussions in time to meet Greece's needs."
The Greek government, which is putting in place austerity measures, faces a debt payment of $11.3 billion on May 19.
"We are all aware of the seriousness of the situation and the courageous efforts being made by the Greek people," Strauss-Kahn said in a statement.
In addition to $13.4 billion from the IMF, Greece is hoping to obtain loans of about $40 billion from a group of 16 European countries.
Strauss-Kahn said everyone involved in trying to help Greece sees "the need for speed," given the severity of the debt crisis.
Greece's woes weighed heavily on financial leaders as they wrapped up the spring meetings of the IMF and World Bank with a pledge to address the risks facing the global economic recovery.
The bank's steering committee discussed how to increase support to cushion the world's poorest countries from a recession that appears to be ending, even though serious threats such as high government debt and unemployment remain.
"The worst is definitely behind us, but we are not out of the woods yet," Egyptian Finance Minister Youssef Boutros-Ghali, the chairman of the IMF's steering committee, told reporters Saturday.
Crippled by soaring borrowing costs, Greece on Friday made a formal request for the aid. Prime Minister George Papandreou declared in a televised address that his country's economy was a "sinking ship."
European and IMF officials have made clear that their support will carry a high price: putting Greece's fiscal house in order. Greece has already agreed to begin an austerity program that cuts civil servants' pay, freezes pensions and raises taxes. But the country faces years of painful cutbacks and doubts about its long-term finances.
The austerity program has already generated massive street protests in Greece and labor strikes.
International Monetary Fund: You must be logged in to see this link.
World Bank: You must be logged in to see this link. |
"It is the nature of the human species to reject what is true but unpleasant and to embrace what is obviously false but comforting"
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How Greece Can Impact You
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