Europe Going Broke

[Haykakan]

It is hard not noticing what is happening in Greece lately. The economic collapse there could be a preview of whats to become of Europe. In my opinion this is part of the plan for the world bank to take over Europe. I think this is a important subject thus i started this thread.

[KanadaHye]

Re: Europe Going Broke

Let's see what happens to the mighty "Euro" when Portugal and Spain go through the same crisis as Greece is going through.

Spain has a 20% unemployment rate which means it'll be impossible to find taxable revenue to fix budgetary shortfalls when people can't find jobs/work.

Let's not forget Ireland..... followed by the big hurt..... Italy and England.

Mind you, there are plenty of wealthy people living in all these countries but the majority will feel the pain because the wealthy aren't the ones contributing to the majority of taxes.

[retro]

Re: Europe Going Broke

Soros and his cronies have been shorting the EUR for months and it has deprecated by 5% in the last few weeks against Sterling.

Greece only accounts for 3% of the EU economy and Spain has always been a basketcase and had 9% unemployment during the boom. The upshot of a weaker EUR is that it supports EU exports and attracts foreign investment and I don't view it's recent weakness as entirely a bad thing.

[Haykakan]

Re: Europe Going Broke

Looks like its spreading. The markets got hammered today.

[Haykakan]

Re: Europe Going Broke

Dow dived over 900 points today-the biggest drop ever before recovering somewhat. A unexplained glich is being blamed but i suspect thats just a bs excuse to cover up the billions a few select investors made today at our expence. Those who claim that this is just another conspiracy theory need to get their heads out of their butts. Imagine shorting this market this morning while investing billions which is exactly what happened and someone made a ungodly sum. Soros would not surprise me because he is one of the few people with the contacts who could possibly pull this off. Those who will be feeding you the official line (it was a glitch) are either naive or misleading you.

[ashot24]

Re: Europe Going Broke

What is happening in Europe is just the prove that the system we've maintained for the last century is finally starting to break, if it's not falling apart right now. Those countries which maintained social, economic and political stability and even received privileges and were considered first world countries, now it is their turn to tight their belts and pay for those privileges they enjoyed in the past. Those who were up yesterday, will be down tomorrow. It has happened over and over through history...it seems Europe's got their time.

It is really amazing to see what is going on in Greece, and to think that not even five years ago they were one of the most developed and rich countries in Europe.

As for Spain, I don't care. Spain got their wealth from everything they stole from the colonies in South America, they sucked every little bit of what South America had and used it to improve their lives and worse those who were the owners of it. It was high time for them to suffer what the people they exploded have suffered for the last two centuries...

Things are changing people, we are in the presence of history

[Haykakan]

Re: Europe Going Broke

What is happening in Europe is just the prove that the system we've maintained for the last century is finally starting to break, if it's not falling apart right now. Those countries which maintained social, economic and political stability and even received privileges and were considered first world countries, now it is their turn to tight their belts and pay for those privileges they enjoyed in the past. Those who were up yesterday, will be down tomorrow. It has happened over and over through history...it seems Europe's got their time.

It is really amazing to see what is going on in Greece, and to think that not even five years ago they were one of the most developed and rich countries in Europe.

As for Spain, I don't care. Spain got their wealth from everything they stole from the colonies in South America, they sucked every little bit of what South America had and used it to improve their lives and worse those who were the owners of it. It was high time for them to suffer what the people they exploded have suffered for the last two centuries...

Things are changing people, we are in the presence of history

No need to single out the spanish, might as well mention the english, portugesee, dutch, french and more recently the usa. This event is not part of a natural progression cycle. It is a artificially induced event.

[garod]

Re: Europe Going Broke

Hope it works..

Can Turkey freeze or cut defense procurement?

“To help Greece escape its ‘economic disaster’ and reduce regional tensions, Ankara would reciprocate if the Greeks froze or cut defense procurement,” chief EU negotiator Egemen Bağış told the International Herald Tribune

Greece, a member of the EU, is in deep economic crisis, and at one point it pointed to its extensive arms purchases as one of the reasons for its current downfall.

According to Turkey’s controversial National Security Policy Paper, Greece is perceived as the country’s number one external threat although it is a fellow NATO member. But the problem with the Turkish policy paper is that it is designed by the military, with little influence at all from the elected civilian authorities. As declared by the government, Turkey intends to rewrite the National Security Policy Paper this year to exclude the concept of an internal threat while reconsidering external threat perceptions.

This unnecessary arms race with Greece is distracting the country’s attention from, among other things, developing its own defense industry base, thus inflicting serious damage on the already fragile economy.

Bağış made strong remarks in the same interview against Germany and France, criticizing them for seeking to sell military equipment to Greece while pressing the government in Athens to make drastic public spending cuts as a result of its dire financial crisis. Bağış argued, “One of the reasons for the economic crisis in Greece is because of their attempt to compete with Turkey in terms of defense expenditures.”

“Even those countries that are trying to help Greece during this time of difficulty are offering to sell them new military equipment,” he said, referring to a recent French offer to sell frigates to Athens.

Bagis said: “Greece doesn’t need new tanks or missiles or submarines or fighter planes, and neither does Turkey. It’s time to cut military expenditure throughout the world, but especially between Turkey and Greece. Neither Greece nor Turkey needs German or French submarines.”

A Greek official, speaking on the condition of anonymity, said, “It is good to have positive rhetoric, but it needs to be followed up by positive action.” This is exactly true. It is now time for Turkey to take the first step and declare cuts in defense procurement.

But I have serious doubts about the existence of such a will on the part of the Turkish civilian authorities while being unable to even pass a draft law that stipulates the auditing of military expenditures and state-owned property. A draft law that would have the Court of Auditors audit military expenditures has only recently been debated, after stagnating for almost four years in Parliament. The military again resisted being audited by hiding behind the shield of secrecy.

It is tragicomic but true that Turkey, perceiving Greece as its number one external threat under the current controversial policy paper, has been spending quite a large portion of its defense expenditures on arming itself against Greece, while Greece has been reciprocating in the same way. Despite improved economic and political ties between the two NATO allies, there exists deep-rooted sovereignty claims in the Aegean Sea as well as on the divided island of Cyprus, pending resolution.

However, I still see Bağış’s proposal to Greece that Ankara will reciprocate if Greece either freezes or cuts defense procurement as a very positive step in reducing decades-old regional tension. But I am also of the opinion that the first step to cut defense procurement should come from Turkey, as a good will gesture to this neighbor engulfed in a serious economic crisis.

http://www.todayszaman.com/tz-web/co...ocurement.html

[retro]

Re: Europe Going Broke

Actions speak louder than words!

Turkey should scale back the size of it's Army. As they don't need anyhing like 500,000 troops and shift part of the Turkish Army into the police.

Greece is not on a par with Turkey either in military or economic terms and they idea that they are a threat to Turkey is all rather fanciful.

If you ask me it's China that Turkey is worried about. China now reportedly has 2,000 fighter jets and is rapidly amassing all sorts of platforms, with a view of expanding into Turkic Central Asia.

[hipeter924]

Re: Europe Going Broke

Actions speak louder than words!

Turkey should scale back the size of it's Army. As they don't need anyhing like 500,000 troops and shift part of the Turkish Army into the police.

Greece is not on a par with Turkey either in military or economic terms and they idea that they are a threat to Turkey is all rather fanciful.

If you ask me it's China that Turkey is worried about. China now reportedly has 2,000 fighter jets and is rapidly amassing all sorts of platforms, with a view of expanding into Turkic Central Asia.

Turkey wont reduce its army size, it needs it to put down Kurdish rebellions and repress dissent. Turkey never changed its tactics from the Ottoman Empire, purge, purge and purge just like Stalin.