European Union Collapse Thread

http://www.businessweek.com/ap/2012-03/D9TLMRI00.htm

Ireland back in recession as economy shrinks in Q4


Irish gross domestic product (GDP) shrank 0.2 percent in the fourth quarter after a contraction of 1.1 percent in the third quarter, the Central Statistics Office (CSO) said in a statement.

Gross national product -- a measure many economists prefer to use for Ireland because it excludes the exported profits of multinational companies -- fell by a much sharper 2.2 percent. That followed a GNP fall of 1.9 percent in the third quarter, suggesting a much harsher recession for Irish households and businesses.

http://news.sky.com/home/business/article/16198595

Britain has returned to recession, forecasters from the Organisation for Economic Co-operation and Development say.

The economy shrank by 0.3% in the quarter in the last quarter of 2012 and is expected to see a further contraction in the first three months of this year, according to the OECD.

http://www.telegraph.co.uk/finance/f...c-history.html

Spain unveils 'most austere' Budget in democratic history

Spain unveiled "the most austere budget in democratic history" with €27bn of cuts and a 7pc rise in utility bills but still failed to win over economists.

http://hat4uk.wordpress.com/2012/03/...u-peripherals/

Yesterday afternoon’s decision by the German Bundesbank to refuse acceptance of Greek, Irish or Portuguese sovereign/bank bonds has dealt a blow to the Eurozone which few informed observers think it can survive. With the help of sources, The Slog digs into what’s really going on here.

[GenuineRisk]

Irish economist David McWilliams does a good job explaining how the crisis came about- and it's pretty entertaining, thanks to the drawings:

http://www.youtube.com/watch?v=oAR0VRLRGHE

I guess this topic didn't catch on. Oh well there are far more important issues like the Zimmerman case and gay rights.

But there was a bank run today. No big deal. Lets apologize for being white instead.

[GPK]

http://www.washingtonpost.com/busine...y.html?hpid=z3

http://sports.williamhill.com/bet/en...+Politics.html

Good odds on Spain. They won't stay. Too much pride.

[Danzig]

http://worldnews.msnbc.msn.com/_news...k-tragedy?lite

[jms62]

Originally Posted by Danzig

http://worldnews.msnbc.msn.com/_news...k-tragedy?lite

And we all know how welcoming the Germans are to foreignors coming into their country and taking their jobs. Will be insteresting.

[Danzig]

Originally Posted by jms62

And we all know how welcoming the Germans are to foreignors coming into their country and taking their jobs. Will be insteresting.

i doubt they're complaining too much right now; they don't have enough skilled workers to keep up with demand.

now, if their economy starts going in the wrong direction, you can bet there will be howls.

[jms62]

Originally Posted by Danzig

i doubt they're complaining too much right now; they don't have enough skilled workers to keep up with demand.

now, if their economy starts going in the wrong direction, you can bet there will be howls.

You realize that this is corporate speak for we dont have enough skilled workers willing to work for less then wages paid 20 years ago.

"You're over-qualified" "You're under-qualified" "Here's some grass. Say bah."

[Danzig]

Originally Posted by jms62

You realize that this is corporate speak for we dont have enough skilled workers willing to work for less then wages paid 20 years ago.

you forgot to add, work more hours and do more tasks for that lower pay!

[Clip-Clop]

Don't like your job? There is a support group for that, it's called everyone and they meet daily at the bar.

Love that joke.

[Danzig]

Originally Posted by Clip-Clop

Don't like your job? There is a support group for that, it's called everyone and they meet daily at the bar.

Love that joke.

yeah, heard something similar to that from dennis leary. it's a club, called 'everyone' and meets on friday nights at the bar!

[Danzig]

http://www.msnbc.msn.com/id/47673826/from/RSS/



BERLIN/PARIS — When Jean-Claude Trichet called last June for the creation of a European finance ministry with power over national budgets, the idea seemed fanciful, a distant dream that would take years or even decades to realize, if it ever came to be.

One year later, with the euro zone's debt crisis threatening to tear the bloc apart, Germany is pushing its partners for precisely the kind of giant leap forward in fiscal integration that the now-departed European Central Bank president had in mind.



.....i just don't see it happening. i don't think some of those nations would ever agree to euro power over their individual budgets.

[Clip-Clop]

Originally Posted by Danzig

http://www.msnbc.msn.com/id/47673826/from/RSS/



BERLIN/PARIS — When Jean-Claude Trichet called last June for the creation of a European finance ministry with power over national budgets, the idea seemed fanciful, a distant dream that would take years or even decades to realize, if it ever came to be.

One year later, with the euro zone's debt crisis threatening to tear the bloc apart, Germany is pushing its partners for precisely the kind of giant leap forward in fiscal integration that the now-departed European Central Bank president had in mind.



.....i just don't see it happening. i don't think some of those nations would ever agree to euro power over their individual budgets.

It almost has to be that way, once you have agreed to the currency an individual country has the power to affect the group in ways it never could before through their own frivolity.

[Danzig]

Originally Posted by Clip-Clop

It almost has to be that way, once you have agreed to the currency an individual country has the power to affect the group in ways it never could before through their own frivolity.

it make sense. i just doubt that some of the countries considered all that when they bought in. it's going to get really difficult. greece will look at other countries and say why do we have to keep suffering while the others do ok. the ones doing ok will be worried that greece and ireland (for example) are going to drag them down the tubes with them.

[GPK]

http://www.washingtonpost.com/world/...rc=al_national

http://www.youtube.com/watch?v=TN_1mF-3JTI

[jms62]

Originally Posted by Coach Pants

http://www.youtube.com/watch?v=TN_1mF-3JTI

That is unreal.. Seems like they are beyond screwed.

Live Greek election results...in English

http://www.livestream.com/stopcarteltvgr