Why do people blame bankers and not Euro politicians for Europe's economic mess?

[doodab]

That's true. But eventually the markets foil their worst plans e.g. the Euro
Just imagine if we didn't have them: Europe would have drifted into being the Soviet Union with an even more massive bust up at the end of the process.

A more balanced view might point out that markets are quite frequently exceedingly stupid themselves.

[Mich the Tester]

A more balanced view might point out that markets are quite frequently exceedingly stupid themselves.

Well the people taking part in them seem to act like sheep quite often.

[AtW]

That's true. But eventually the markets foil their worst plans e.g. the Euro

Euro is doing fine.

If you look at GBP it dropped 20% of value in the last couple of years against USD and EUR.

I think then original exchange was 1 GBP for 1.6 EUR, the UK did not do too well over last decade.

Here is another indicator for you:

Eurozone inflation is 3%, UK - 4.8% (official).

http://www.bbc.co.uk/news/business-15751764
http://www.bbc.co.uk/news/business-16154965

So there we have it: Eurozone has got much more stable currency and much lower inflation. If that's the crisis then I say bring it onto UK too!

[sasguru]

Euro is doing fine.

If you look at GBP it dropped 20% of value in the last couple of years against USD and EUR.

I think then original exchange was 1 GBP for 1.6 EUR, the UK did not do too well over last decade.

Here is another indicator for you:

Eurozone inflation is 3%, UK - 4.8% (official).

BBC News - Eurozone faces systemic crisis, says EU's Barroso
BBC News - UK inflation rate falls to 4.8% in November

So there we have it: Eurozone has got much more stable currency and much lower inflation. If that's the crisis then I say bring it onto UK too!

You are living proof that IT people are often more stupid than average.

[Mich the Tester]

You are living proof that IT people are often more stupid than average.

Here we go again. Somebody provides arguments and data for what he's saying. If you don't agree, then give your argument and back it up with some information. But no, you'd rather insult his intelligence, thereby making it less likely that he or others take your argument seriously. In other words, you're losing the argument here, because any independent observer sees AtW trying to provide arguments for what he's saying, and you calling people stupid and saying they need economic education.

[sasguru]

Here we go again. Somebody provides arguments and data for what he's saying. If you don't agree, then give your argument and back it up with some information. But no, you'd rather insult his intelligence, thereby making it less likely that he or others take your argument seriously. In other words, you're losing the argument here, because any independent observer sees AtW trying to provide arguments for what he's saying, and you calling people stupid and saying they need economic education.

You may have missed the fact that he's repeating an old post he made earlier today - where I explained the interest rate is irrelevant provided the Euro is still Germany's currency.
No one is saying Germany has a weak economy, but Germany isn't Europe.
It's just dull and childish listening to the same old crap repeated ad nauseum.

[sasguru]

A more balanced view might point out that markets are quite frequently exceedingly stupid themselves.

That's true. Irrational exuberance leads to excesses but these are usually self-correcting.

[Mich the Tester]

That's true. Irrational exuberance leads to excesses but these are usually self-correcting.

I would question that. I think what we've seen recently is that the excesses are not self correcting, if anything they reinforce themselves and continue to a point (given the speed at which trades are carried out now) that they become extremely destructive before 'correcting'.

[AtW]

You may have missed the fact that he's repeating an old post he made earlier today - where I explained the interest rate is irrelevant provided the Euro is still Germany's currency.

I was referring to the inflation in eurozone - it is much lower than in the UK and they've got stronger currency that is marginally affected so far.

Germany is still firmly behind euro despite massive costs they have to bear - for that they should be thanked and assisted in every way possible.

[sasguru]

I was referring to the inflation in eurozone - it is much lower than in the UK and they've got stronger currency that is marginally affected so far.

.

So why don't you move to those economic paradises: Greece, Portugal or Spain? You'll certainly get cheap labour because everyone's unemployed.
Its funny - I've noticed that of all those who are passionately for the Euro, none of them have to deal with its effects because they all live in the North.
What hypocricy!