Jump to content
House Price Crash Forum
Sign in to follow this  
Oliver Sutton

Is The Euro Crisis Over?

Recommended Posts

It's overuntil it's not.

High levels of personal debt still exists which will never be repaid, governments are still spending more money than they have.

The system has not changed, so why would you expect a different outcome from 12/14/48 months ago?

Share this post


Link to post
Share on other sites

High levels of personal debt still exists which will never be repaid

In the Eurozone?

You're thinking of the US and UK.

governments are still spending more money than they have.

Euro zone debt level drops for first time in six years

Euro zone government debt fell for the first time in nearly six years in the third quarter of 2013, adding to signs the bloc is emerging from its crisis even if the debt level remains well above the EU's limit.

Share this post


Link to post
Share on other sites

In the Eurozone?

You're thinking of the US and UK.

Euro zone debt level drops for first time in six years

misleading headline:..in the text

Sovereign debt fell as a proportion of national output

Issue debt, spend it in the economy, economy grows, debt proportion falls...meanwhile...debt increases and inflation comes back...next year.

Share this post


Link to post
Share on other sites

misleading headline:..in the text

Sovereign debt fell as a proportion of national output

Issue debt, spend it in the economy, economy grows, debt proportion falls...meanwhile...debt increases and inflation comes back...next year.

Debt in the 17 countries that shared the euro in 2013 stood at 8.842 trillion euros ($12 trillion) in the three months to September, statistics agency Eurostat said on Wednesday, slightly down from 8.875 trillion euros in the second quarter.

Share this post


Link to post
Share on other sites

and we beleive the as yet to be audited EC accounts hiding untold billions of PFI contracts.

This MMT nonsense is very dangerous.

Share this post


Link to post
Share on other sites

It's overuntil it's not.

High levels of personal debt still exists which will never be repaid, governments are still spending more money than they have.

The system has not changed, so why would you expect a different outcome from 12/14/48 months ago?

+1

and + my wife

Share this post


Link to post
Share on other sites

and we beleive the as yet to be audited EC accounts hiding untold billions of PFI contracts.

This MMT nonsense is very dangerous.

You seemed happy to believe them in post #4.

Not so happy when they don't seem to validate your argument.

Share this post


Link to post
Share on other sites

You seemed happy to believe them in post #4.

Not so happy when they don't seem to validate your argument.

Are you buying then?

Share this post


Link to post
Share on other sites

You seemed happy to believe them in post #4.

Not so happy when they don't seem to validate your argument.

post 4 was the point about the misleading headline.

the next was about the hidden debt.

Share this post


Link to post
Share on other sites

post 4 was the point about the misleading headline.

the next was about the hidden debt.

Which wasn't misleading.

Are the eurostat figures taken form the EU accounts or individual countries' accounts?

Share this post


Link to post
Share on other sites

Which wasn't misleading.

Are the eurostat figures taken form the EU accounts or individual countries' accounts?

dont know.

Absolute numbers are always adjusted next period.That I do know.

Further to that, the article nowhere points out just who DIDNT increase their debt...surely, if in reality there is now less debt, the shining examples of prudence would be proud and loud.

The article also states the figures are due to "This stabilization is the result of the fiscal consolidation"

I beleive that means moving debt around at the right time of the month.

Edited by Bloo Loo

Share this post


Link to post
Share on other sites

No F'ing way.

Spanish and EU Gov's papering over the economic equivalent of the San Andreas fault..

Shamelessly ripped from the BigFatSpain Thread:

http://www.zerohedge.com/news/2014-01-31/spains-banco-popular-bad-loans-surge-20-qoq-most-ever-record-high

Spain's Banco Popular just released earnings showing a 19.6% rise in non-performing loans at EUR21.2 billion driven by a surge in "doubtful loans for subjective reasons" that almost tripled QoQ. This is the highest bad loan ratio on record at 14.27% - but have no fear, their CEO says "loan defaults are nearing their peak," because he would know...

From the Banco Popular earnings report...

20140131_BP1.png

oh, and Germany is propping up both Spain and Italy;

EuroCrisisMonitor.jpg

Edited by weaker

Share this post


Link to post
Share on other sites

ItalianBadLoans.png

TAE Hide and Don’t Seek

http://www.theautomaticearth.com/debt-rattle-mar-6-2014-hide-and-dont-seek/

Look at French and German jobless youth, and then at their 10 year yields. Do the same with Spain and Italy vs Germany. And then please explain what’s going on.

I think the only conclusion is that Mario Draghi has created a very distorted – picture of – Europe. The markets don’t care as long as he keeps pumping money in. And they may even buy Italian and Spanish bonds as long as these a’re de facto guaranteed by Germany. But Spain still has an enormous real estate problem, and Italy unveils more bad loans by the day. And the EU just promised $15 billion to Ukraine that it clearly doesn’t have and even if it did could be put to good use among member states.

Yes, it all looks good, those yields. But they also mean that Spain and Italy can borrow more, cheaper. And while that sounds nice, is it really a good idea that they can get even deeper into debt? What Mario Draghi does is paper over the cracks, but the cracks just keep getting wider – see the unemployment stats – and he will need ever more paper. Until he runs out.

China, Japan, the US, Britain and the EU, they’re all playing the exact same game. Hide and don’t seek. It’s a stupid game, and it’s even stupider that people believe what they’re told they see.

Share this post


Link to post
Share on other sites
Guest spp

Haven't Spain been using their pension funds to cover their DEBT?

Didn't Rome get a large bailout recently?

edit: Pretty sure it was recently revealed that youth unemployment was at a record level in a few countries.

If debt and unemployment is the way forward we seriously need to consider a life in the med sun!! B)

Edited by spp

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   208 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.