Best and most thorugh analysis of the Eurozone crisis by the wise Nouriel Roubini

[sasguru]

The fastest growing country in Europe is Ireland at the moment, seems to fly in the face of his analysis that countries can't do austerity and grow.

Just a biased Euro-Sceptic view claiming austerity invariably leads to depression...well it doesn't, that's just claptrap.

All countries are different. Which is why the Euro was a crap idea.
Austerity has led to depression conditions in the Latin economies, fact.

[BlasterBates]

All countries are different. Which is why the Euro was a crap idea.
Austerity has led to depression conditions in the Latin economies, fact.

But it can be done, absolutely nothing stopping these countries doing what Ireland has done. Why can't they?

Ireland austerity and growth

What's to stop Greece privatising billions of Euros worth of assets? Why not? Why is this immovable? What is the sense in raising even more debt when there is some money available? and why is it unreasonable to raise the retirement age to 67? The Germans did it.

By forcing these countries face up to some reality will force them to change.

I don't accept the fact that letting people retire early is somehow beneficial for growth.

[sasguru]

But it can be done, absolutely nothing stopping these countries doing what Ireland has done. Why can't they?

Ireland austerity and growth

What's to stop Greece privatising billions of Euros worth of assets? Why not? Why is this immovable? What is the sense in raising even more debt when there is some money available? and why is it unreasonable to raise the retirement age to 67? The Germans did it.

By forcing these countries face up to some reality will force them to change.

I don't accept the fact that letting people retire early is somehow beneficial for growth.

You really need to be more analytical in your approach.
The question to ask is why is Ireland growing more.
And the answer is they have (1) a larger section of their economy devoted to exports and (2) their corp tax rates are half that of Euro area.
(1) is temporary as all export markets will slow down as is happening already even to germany and (2) is temporary because France and Germany want to harmonise tax rates within the EC.
Also you can't create an export economy overnight in say Greece.

Ireland's short-lived growth rate will soon stall and then their current 14.5 % unemployment rate will rise further.

[Hill Station Murthy]

All countries are different. Which is why the Euro was a crap idea.
Austerity has led to depression conditions in the Latin economies, fact.

In Argentina perhaps but I would disagree that other Latin countries are implementing austerity. This remember is country that defaulted on its debts in the late 90s and should serve as reminder why we must not let Euro collapse at any costs.

[BrilloPad]

In Argentina perhaps but I would disagree that other Latin countries are implementing austerity. This remember is country that defaulted on its debts in the late 90s and should serve as reminder why we must not let Euro collapse at any costs.

Argentina has a wealth of natural resources. Maybe if they concentrated less on the Falklands and more on hard work they would be alot better off.

[sasguru]

In Argentina perhaps but I would disagree that other Latin countries are implementing austerity. This remember is country that defaulted on its debts in the late 90s and should serve as reminder why we must not let Euro collapse at any costs.

I mean the Euro latin bloc aka the garlic belt aka the PIIGS.

[DodgyAgent]

In Argentina perhaps but I would disagree that other Latin countries are implementing austerity. This remember is country that defaulted on its debts in the late 90s and should serve as reminder why we must not let Euro collapse at any costs.

Argentina's economy grew rapidly after they went bust. presumably because they got rid of all the spongers.

[DodgyAgent]

But it can be done, absolutely nothing stopping these countries doing what Ireland has done. Why can't they?

Ireland austerity and growth

What's to stop Greece privatising billions of Euros worth of assets? Why not? Why is this immovable? What is the sense in raising even more debt when there is some money available? and why is it unreasonable to raise the retirement age to 67? The Germans did it.

By forcing these countries face up to some reality will force them to change.

I don't accept the fact that letting people retire early is somehow beneficial for growth.

Not bad

[Mich the Tester]

Argentina has a wealth of natural resources.

Indeed, and I would happily exploit some of them.

[GreenLabel]

But it can be done, absolutely nothing stopping these countries doing what Ireland has done. Why can't they?

What's to stop Greece privatising billions of Euros worth of assets? Why not? Why is this immovable? What is the sense in raising even more debt when there is some money available? and why is it unreasonable to raise the retirement age to 67?

What's stopping them are the hordes of angry Greek voters. Regardless of whether or not it's good for them, the Greek public won't accept harsh austerity - look at the protests over the relatively minor reforms proposed so far. They've had the easy life for so long it's ingrained in their culture, and the shift back to reality won't come easily.