Comments on: The hard challenges for Europe, an overly soft continent Wed, 13 Apr 2016 01:13:45 +0000 hourly 1 By: celtthedog Fri, 01 Jun 2012 13:31:32 +0000 Re: “Britain racked up a vast external (both public and private) debt, second highest in the world in absolute terms, at nearly $10 trillion after the U.S.’s near $15 trillion.”

Um yes, under the brilliant administration of those two whizz kids Tony Blair and Gordon Brown. And who was one of the dynamic duo’s leading cheerleaders in the media during this period?

One John Lloyd, of course. Fancy that!

By: GMavros Thu, 31 May 2012 20:04:42 +0000 @PseudoTurtle;
Touché & Bravo.
Don’t expect much from ‘journalists’ who come a-dozen-a-dime, especially those who pretend to be also politicians & economists, and everything else.

By: PseudoTurtle Thu, 31 May 2012 17:38:43 +0000 Oh, please!

Stop your “holier than thou attitude”.

This continual Euro-bashing by authors is getting more than a bit tiring.

Your ignorance of European history and peoples — including your call for a “superstate” — is stupid beyond belief.

And your personal prejudices are showing.


By the way, in Europe Christine LaGarde whom you deify (comparing her to your mother?) was severely castigated for those same remarks you included, mainly because of her lifestyle.

A lifestyle which includes “an official of an international institution, her salary of $467,940 a year plus $83,760 additional allowance a year that is not subject to any taxes.

Lagarde, 56, receives a pay and benefits package worth more than American president Barack Obama earns from the United States government, and he pays taxes on it.” may/29/christine-lagarde-pays-no-tax?INT CMP=SRCH

By: GMavros Thu, 31 May 2012 16:28:41 +0000 Christine Lagarde is a distinguished member of the elite EU Banksters.
Now that their Ponzi scheme has been exposed they all have their explanations….
Another Nuremberg on the horizon.

By: GrahamDLovell Thu, 31 May 2012 11:00:10 +0000 Interesting comparison of the decline of ancient Rome and the situation in the USA and Europe.

Rome declined because its ethos, military might and subjugation of other peoples, was incompatible with newly dominant Christian ethos, which had no place for the Roman one it displaced. In effect, the Roman elite, who had made Rome great, but who rejected Christianity, gave up, since they couldn’t regain political power.

It is hard to imagine that USA is in such a crisis, but their failure to collect enough taxes to fund the government is reminiscent of Rome before the 4th century reforms.

Certainly, there might be something to be discovered in Europe’s loss of a sense of purpose, and the split between the north and the south.

The Greek people don’t want to lose their pensions, but surely they don’t expect the German to pay them; yet that is the only option available if pensions are not cut. On the other hand, while their salvation could be achieved through tourism, they are doing their best to discourage potential tourists.

The Spanish at least have elected a government who want to fix the problem, and Ireland seems to be on the mend. Goodness knows what is going to happen in France with a president promising to abandon austerity.

The German solution is surely the only way ahead: work, work, work; pay your taxes; look to earn your money before you spend it. This is far from the current economic commentary, which thinks that more of the old-fashioned “spend your way to prosperity” is the way to go.

By: DanAllen Thu, 31 May 2012 01:39:29 +0000 The wealth disparity is greater than it has been in 100 years. Some people are getting beached, others are riding a tsunami of cash.

By: bryanwilkins Wed, 30 May 2012 18:45:37 +0000 If Europe wants a member free trade zone and a cross border currency union as it patently does, then individual countries in that union cannot have independent fiscal policy programmes. They are going to have to swallow their ‘sovereignty’ and pool their fiscal risk into the whole, in the interests of the viability of the get over the national character stance, as far as the economics go (celebrate your individual cultural identities). It is better off to have one large European trading block whose GDP is equal to if not greater than the USA. A disciplined approach to economy will raise the tide and all the boats

By: feniks_r Wed, 30 May 2012 17:19:42 +0000 What Europe needs right now is the modern version of the Alexander the Great and his way of solving the very complex European problems in cutting the present day gordian knot. But this time Alexander is not going to be the Greek; it must be the German. I do not see why the solution is not going to be Germany exits the Eurozone? The rest of the Eurozone countries can run the monetary policy as they like, they can print the Euros as they need to pay back their Euro denominated debts in their Fiat currency, make their workforce competitive again … On the other side Germany can reintroduce deutsche marks which will be at par (if not higher) than the Euro left to the others, can assume the part of liabilities on the ECB balance sheet (30%) for a 30% of collateral (both in Euros)at practically no loss for them, can afford to loose (subsidize) on some on the Bundesbank accumulated liabilities in Euros (some 600 billion Euros) but, at the end, the bill is going to be smaller than the cost of being the only solvent banker in Eurozone. So why German politicians are not pursuing this road? Because, as it was mentined, Eurozone is the “political” project, like the Potemkin village, which do not have any economic justification unless the creation of the united Europe becomes reality. But Europe had much more time and much more and “critical” events in the past then the US when that would be the best outcome and still, it did not happen. Regardless why it did not happen in the past what are the core issues there, we should remember that the “historia est magistra vitae” and should finally learn to distinguish “utopia from reality”.

By: TobyONottoby Wed, 30 May 2012 16:25:53 +0000 ALLSOLUTIONS –

Quite right. Bring back borrow and spend. Reserve all the entitlement/social programs for the big financial institutions.

By: TobyONottoby Wed, 30 May 2012 16:20:19 +0000 The clothes have no emperor, but if anyone’s foot fits the glass slipper, it’s Lagarde’s. But really, wasn’t the EU project entirely directed at avoiding WWIII? As long as THAT’S avoided, all other failures are minor in comparison. The main thing is, Europe hasn’t had a genocidal war since the 1940s. I mean, the 1990s.