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A.steve

Lagarde Takes On Europe?

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Nationalise all of them?

A common monetary and fiscal policy for a vast region made up of previously independent countries, led by an army of unelected beaurocrats - and now forced nationalizations.

mmmm... the Eurozone is starting to resemble something from the past, but I just can't put my finger on it <_<

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Surely IMFalise them all?

More likely EFSFise them.

While Lagarde believes banks should first try to raise the money themselves, the difficult market conditions that have left some banks without access to wholesale funding may instead require funds from the European Financial Stability Facility.

The EFSF is similar to the U.S. bank bailout program rolled out at the height of the financial crisis in 2008 to bolster the capital of viable financial institutions.

Recapitalising banks, without asking member states for any kind of vote or consultation, is one of the EFSF's newly extended powers.

Essentially, it means taking money from Eurozone taxpayers by force.

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startling isn't it?and we slammed the soviets for years.imitation is etc

Yes, remind me again. All the centralised power in the world couldn't save them from bankruptcy.

Even the Russian Federation today wouldn't mind at all about losing a few states. Those that can afford to pay taxes to the centre are in the minority. Meanwhile, the EU is progressing with enlargement . . . Ukraine, Albania of all places . . . Turkey deferred but not forgotten.

Stalin's economic model (rustbelt industries, millions of workers) was outdated by the time he caught up with the West. But at least he had an economic model. I don't think ageing populations and no industry really counts as a viable strategy.

But what do I know.

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More likely EFSFise them.

Recapitalising banks, without asking member states for any kind of vote or consultation, is one of the EFSF's newly extended powers.

Essentially, it means taking money from Eurozone taxpayers by force.

Sooner or later they will work out that they need to fill the holes with new money, free of debt.

Or else let the cards fall where they will.

Nothing has changed - there are still to many promises to be kept.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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