Discussion in 'Europe' started by JStone, Jan 10, 2012.
Economy watch: Is Britain heading back into recession? | This is Money
Europe slidin' into double-dip recession...
Little sign of Europe's depression lifting
19 February 2013 - For several months European officials have been basking in the calm of the financial markets. They have fallen over themselves to declare the crisis over.
And with all their bank failures and failed austerity, they have the temerity to insult the French (no failed banks).
Sure, Europe is in trouble, as is the US. The refusal to see the world in new ways is condemning all of us to worse and worse conditions. Amazing, isn't it, that all the material aspects of earth that were here before the 'crisis' are still here. It is just the astronomical sums of virtual money that the 'too-big-to-failers' gambled away that changed anything. We collectively share to make up for that.
Ain't 'socialism' grand (for the major players, of course, not for the plebeians).
"The third such French bailout in the past year coincides with President Francois Hollandes push for a European banking union and a common euro-area bank supervisor to break the link between lenders and governments.
The financial institutions being propped up by the French government have needed help even after they tapped ECB funds.
If we had full banking union, the burden wouldnt be only on French taxpayers, Mints Blain said. German and other taxpayers would contribute too. "
France?s Quiet Bank Rescues Top $78 Billion With Peugeot - Bloomberg
France has always had a 'too big to fail' attitude regarding their banks, they are simply more discreet in these matters.
In this instance, it showed to be a better strategy than the British.
big wins for the austerity camp huh?
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