So was the 2nd World War all for nothing?

[Pondlife]

And therefore shouldn't really be used in the computer models used by banks for deciding on creditworthiness and reporting on capital requirements according to the Basel accords?

Exactly.

IMO the ratings agencies are the biggest sham outfit of the lot.

[Sysman]

And therefore shouldn't really be used in the computer models used by banks for deciding on creditworthiness and reporting on capital requirements according to the Basel accords?

Ah, computer models. I think it was Niall Ferguson who pointed out that one of the computer models used for derivatives was based on too little historical data. If they had just gone back to October 1987, let alone further back to other dips, their model would have been much more robust.

[BrilloPad]

The 2nd World War was fought to prevent German hegemony over Europe.
But now it seems that most Europeans have become so soft they want their cossetted lives even if it means giving up freedom to the Germans.
And make no mistake the Germans will run the new organisation because he who pays the piper always call the tune.
I find it scary that politicians can just hand over their national sovereignity so easily.

In most European countries there are anti-Europe parties. And they never get enough votes to get in. They keep taking Germany's money. Once the money tap is switched off lets see how they vote.

[BrilloPad]

Exactly.

IMO the ratings agencies are the biggest sham outfit of the lot.

They made alot of mistakes on sub prime debt. But they are closer to the mark on Eurodebt.

[Mich the Tester]

They made alot of mistakes on sub prime debt. But they are closer to the mark on Eurodebt.

Of course they are, because their 'ratings' are actually a self fulfilling prophecy; if they downgrade a country's debt, that country will have to pay higher yields on its bonds, thereby making it more likely to default, thereby lowering their rating, etc etc.

[Paddy]

Oh do please stop exaggerating.

You say that just because Holland is really part of Germany.

[Mich the Tester]

You say that just because Holland is really part of Germany.

Economically it is, yes. Just don't try telling the cloggies.

[Pondlife]

They made alot of mistakes on sub prime debt. But they are closer to the mark on Eurodebt.

So, you're in a pub drunk and some woman is buying you beer and flirting. You're texting your mates that you're on to a winner and that you've met your dream woman and soul mate.

Now it's the morning, there's vomit on your shoes and you've got a hangover from hell. You look at what's lying beside you and you're contemplating chewing your own arm off rather than waking her.

You realise your predicament and after all of your bragging to mates last night it occurs to you that pretty soon she's going to have to do the walk of shame past your housemates.

Do you propose or would you be inclined to downgrade her rating from dream woman?

[MrRobin]

I've played Civ enough times to know that if the Conquest victory fails, you go for the Diplomatic domination victory.

[Platypus]

The Germans didn't want the Euro either

According to my Germans friends, the Germans DO want the Euro.