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

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Tue, 05/10/2011 - 06:55 | 1258432 chinaguy
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IMF is arranging 80-100 bln aid package to replace Greece’s existing bailout programme – Kathimerini reports.

You heard it here first....

Tue, 05/10/2011 - 07:00 | 1258436 Hammer Time
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Because they are far better in enslaving the Greeks than we europeans

Tue, 05/10/2011 - 07:00 | 1258437 Franken_Stein
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Feicháng ganxiè.

Tue, 05/10/2011 - 07:29 | 1258470 MisterAmbassador
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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.

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