Archive for PIGS

Stay tuned. We’ll know shortly…

Posted in Crisis, current events, Democracy, Economy, Financial crisis, News, politics, Power, Society with tags , , , , , , , , , on 08/06/2012 by Living out of Eden

” …

Outside Germany, a consensus has developed on what Mrs Merkel must do to preserve the single currency. It includes shifting from austerity to a far greater focus on economic growth; complementing the single currency with a banking union (with euro-wide deposit insurance, bank oversight and joint means for the recapitalisation or resolution of failing banks); and embracing a limited form of debt mutualisation to create a joint safe asset and allow peripheral economies the room gradually to reduce their debt burdens. This is the refrain from Washington, Beijing, London and indeed most of the capitals of the euro zone. Why hasn’t the continent’s canniest politician sprung into action?

… “

Admittedly, I’m in a dilemma:

I certainly feel in close agreement to the statements of the article, but, coming from The Economist, I distrust.

What then? Who should one believe in?

Actually, in no one.

At this point, I don’t need The Economist to tell me what to think. The only advantage I can see in these ideas being published in the famous weekly magazine is the fact that maybe (just maybe) some more people will stop thinking this crisis will be solved with austerity and budget control.

The other thing that is undeniably true is that Mrs. Merkel has “that” power today.

Will anyone do something about it?


Hardcore stuff

Posted in Crisis, current events, Democracy, Economics, Economy, Financial crisis, News, politics, Society with tags , , , , , , , , , on 28/01/2012 by Living out of Eden

As Greece moves towards default, as France, Italy and Spain suffer credit downgrades, and as negotiations over last month’s fiscal treaty reach deadlock, the euro is heading for the rocks and the driving force is becoming clear. The real cause of the euro disaster is not France, Italy or Greece. It is Germany.

The fundamental problem lies not in the efficiency of the German economy, although that has contributed to the divergence in economic fortunes, but in the behaviour of German politicians and central bankers.

Read more in ….


REFERENDUM IN GREECE – Trick or Treat? (or Death?)

Posted in Crisis, current events, Democracy, Economics, Economy, Financial crisis, politics, Revolution, Society with tags , , , , , , , , , on 01/11/2011 by Living out of Eden

As if it was part of Halloween celebrations, the Greeks will be called to a Referendum (at least, until today’s news) to define whether they want to be rescued and sign a new deal, or not. Depending on the answer, the possible outcomes might be:

a) They continue under hard cut-down Economy measures, with no possibility of taking any action but those dictated from ECB and/or the franco-german coalition.

b) Greece is expelled from the EU, lose the euro as currency, and the country ends up left aside by the european community, to their own luck.

So, in fact, the true question underlying the referendum is whether they want to suicide themselves instantly with a shot in the head, or slowly and painfully, slashing their wrists.

What’s completely unusual and hard to justify is Government using the referendum to make people accountable of the decision, under the excuse of being democratic.

True democracy would have been to ask people through referendums, the creation and management of the whole debt from the very beginning.

The double standard of modern nations: “with the people, but without the people”.