RANsquawk European Morning Briefing - Stocks, Bonds, FX etc. – 10/05/11

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chinaguy's picture
IMF is arranging 80-100 bln aid package to replace Greece’s existing bailout programme – Kathimerini reports.

You heard it here first....

Hammer Time's picture

Because they are far better in enslaving the Greeks than we europeans

MisterAmbassador's picture

Greece should just leave the EU and reinstate their own currency, along with Portugal, Ireland, Spain, and all the other EU countries.  Would be lots more pain in the short-term, but that's really the only way.  Things have to be reset.  You can't just keep solving a problem of too much debt by adding more debt.  It's like using one credit card to pay another.  That works for a while, especially if you can keep increasing your income - or, in a country's case, your real GDP.  But, the myth of infinite growth has been unequivocally disproved.

Anyway, the Euro is done.  It's only a matter of time.  I don't give it five more years, especially if there are more economic shocks, unless a dictatorship is instituted that forces it.  Of course, then Germany goes under when other nations start defaulting.  Is there any precedent for a currency like the Euro?  What an absolute mess.  The EU is just a big, bureaucratic mess, even without the conspiracy theories.  Trichet gets to jump ship this year while the Euro is burning.  Rat fleeing a sinking ship.

I like this guy:  http://www.youtube.com/watch?v=9WGjszGksPc

Just who the hell do you people think you are?!?  I'd like to yell that at Bernanke.

Perhaps we could arrange a trade, UK...  We'll give you Obama and the State of California and, just to sweeten the pot, throw in a Bernanke, if you'll give us Farage.  This guy is good.  Watch his other clips.

The President of the EU makes more than Obama.

It's interesting watching it all fall apart.  I was in high school when I heard about the EU forming and adopting the common currency to form the EuroZone.  I didn't know why, but I thought to myself that that was a horrible idea.  It just doesn't make common sense to latch all those countries, with such varied cultures standards of living onto each other - unless, of course, you're trying to redistribute wealth and enslave the "little people".

What a mess.  What an absolute mess.

And, that's my rant for this morning.  Probably completely off topic by this point.  My apologies.  Have a good day, everyone.