Draghi vs. Merkel

AVN_1

Who will win the battle:

Draghi told a European Parliament committee in Brussels that without more aggressive action by policy makers the euro“ is being shown now to be unsustainable unless further steps are being undertaken.”

German Chancellor Angela Merkel was besieged by critics for letting the euro crisis smolder, with the leaders of Italy and the European Central Bank demanding bolder steps to stabilize the 17-nation economy.

Italian Prime Minister Mario Monti and ECB President Mario Draghi pushed Germany to give up its opposition to direct euro-area aid for struggling banks. Monti further antagonized Germany by urging a roadmap to common borrowing.

http://www.bloomberg.com/news/2012-05-31/merkel-s-isolation-deepens-as-draghi-criticzes-strategy.html

What do you think?

oscarBravo

AVN_1 wrote: »

What do you think?

I think different opinions as to the best course of action are being aired, and I think that the various vested interests involved will negotiate a course of action that they feel represents the best compromise between the conflicting desires of the various parties they represent.

What do you think?

AVN_1

The fight intensifies:

Berlusconi Says ECB Must Print Euros or Italy May Say ‘Ciao’

Former Premier Silvio Berlusconi said Italy should say “ciao, euro” if the European Central Bank doesn’t start printing money to tackle the debt crisis and Germany should quit the single currency if it won’t back a bolder role for ECB.

“The economic crisis can’t be solved” in Italy, Berlusconi said in comments posted on his party’s website today. He called on Prime Minister Mario Monti to “change his political line” and lobby European leaders to back a money-printing campaign by the Frankfurt-based ECB. If the central bank doesn’t become a “lender of last resort,” Italy should say “ciao, euro,” the former premier said.

‘Our Currency’

Berlusconi, 75, who resigned as premier in November as Italian borrowing costs surged amid a worsening debt crisis, said Italy should remain in the European Union even if it exits the euro. He added that another of his proposals was that the” Bank of Italy prints euros or our own currency.”

http://www.bloomberg.com/news/2012-06-01/berlusconi-says-ecb-must-print-euros-or-italy-may-say-ciao-1-.html

oscarBravo

I guess it's more fun to post breathless tabloidesque stories about squabbling between European politicians than to have a grown-up conversation about the actual political issues.

later12

How to confuse a Europhile: get institutional leaders to start squabbling.

Rabbit. Headlights.

VinLieger

Sigh...... another AVN_1 onesided view thread where he refuses to engage with reasonable points and keeps spouting his own intelligble rhetoric? I had hoped we were done with these? Hasnt every previous one been locked?

AVN_1

oscarBravo wrote: »

I guess it's more fun to post breathless tabloidesque stories about squabbling between European politicians than to have a grown-up conversation about the actual political issues.

So how about answering my question?

oscarBravo

AVN_1 wrote: »

So how about answering my question?

Who will win the battle? I reject your premise.

AVN_1

oscarBravo wrote: »

Who will win the battle? I reject your premise.

Are you living in a parallel universe?

AVN_1

Germany and France row ahead of EU summit

Thursday, June 28, 2012

The battle lines between France and Germany were last night threatening to scupper an outline for fiscal, banking, and political union in return for joint responsibility for debt that is aimed at restoring some market confidence in the eurozone.

Spain and Italy are leading the demand for some immediate action to reduce the pressure on their economies, which are both having to pay unsustainable rates for borrowing. Their message is that the crisis is continuing despite austerity and they need real help to stop the contagion.

The point was underlined by the decision of eurozone ministers to approve a full bailout for Cyprus, on the brink of bankruptcy because of the crisis in Greece.

They also confirmed €100bn for Spain to recapitalise its banks. There were also signs Slovenia is considering seeking a bailout shortly.

German chancellor Angela Merkel and French president François Hollande met in Paris last night after a day spent delivering war-like messages from their respective capitals.

The differences between the two countries was highlighted in a document intended to set the agenda for a much closer union. Much of the wording giving greater oversight powers of national budgets to Brussels was removed at the insistence of France, while much of the wording on sharing debt remained.

Four years of austerity have produced nothing but failure, the EU’s trade union body, ETUC, said.

Mr Begg warned that Ireland’s recovery programme was built on the supposition that growth would be 3%-4% next year, but current projections say it will be little more than 0.5% of GNP. "This is a foundation of too much sand and not enough cement," he said, calling for growth and job creation measures.

Mariano Rajoy, the Spanish prime minister, said institutions and financial entities in Spain, Italy, and other countries were unable to access the markets, and warned that Spain itself cannot continue at the kind of rates they must pay.

http://www.irishexaminer.com/business/kfsnidsngbsn/

Dr Galen

One sided conversations with oneself are no really what this forum is about tbh.

AVN_1 I suggest you re-read the forum charter in relation to expected posting standards before posting again

Cheers

DrG