ECB ready to do 'whatever it takes' to preserve euro

[DodgyAgent]

He lacks the imagination and intelligence even to stop being a Soviet.
Reminds me of most East Europeans I've met who've lived under communism, it's as if their upbringing has permanently damaged their thought processes.

They cannot function without rules or queues

[AtW]

The reality (that your binary rules dictated mind would not begin to understand) is that the sheer complexity of the economics and politics behind the Euro make it impossible to establish who is breaking what rules.

Eh? That was well known who was breaking the rules - budget deficits were supposed to be limited to certain value however there was no enforcement of that rule. If there was (and it there should have been) then states would not get deep in debt and current debt crisis would not exist.

By extension this means that politicians who got votes by promising easy life using debt would struggle to get elected and in a long term things would work out well.

[sasguru]

Eh? That was well known who was breaking the rules - budget deficits were supposed to be limited to certain value however there was no enforcement of that rule. If there was (and it there should have been) then states would not get deep in debt and current debt crisis would not exist.

By extension this means that politicians who got votes by promising easy life using debt would struggle to get elected and in a long term things would work out well.

Germany?
I think you've just proved DA's point. Sometimes I wonder at how thick you really are.

[AtW]

They cannot function without rules or queues

Queues at UK Post Office remind me of Soviet Union - well, we may have queued for bread but rarely to post a letter

[DodgyAgent]

Eh? That was well known who was breaking the rules - budget deficits were supposed to be limited to certain value however there was no enforcement of that rule. If there was (and it there should have been) then states would not get deep in debt and current debt crisis would not exist.

By extension this means that politicians who got votes by promising easy life using debt would struggle to get elected and in a long term things would work out well.

Quite! so if there was no way of enforcing rules then they did not exist did they? So if they all went on a spending spree then so what? The whole point is that this was an intentional oversight by the politicians because they thought that with so many happy people living on the never never they would become more popular and even more powerful.

[DodgyAgent]

Queues at UK Post Office remind me of Soviet Union - well, we may have queued for bread but rarely to post a letter

No the queues are for old people to pick up their pension whereas in the Soviet Union the queues are for old people (and everyone else) to pick up their bread.

Of course the wonderful thing about free market capitalism is that political judgements about economies will be found out by the markets, whereas in Russia economic outcomes are ignored which is why our queues are more affluent than yours.

[psychocandy]

Go Euro Go!!!!

not up much today. Still a crappy 1/1.275

[AtW]

our queues are more affluent than yours.

That's a relief!

[DodgyAgent]

That's a relief!

At my age relief is in short supply.

[AtW]

You said you trade with Poland, but it looks like they pay you in euros, why don't you accept their own currency?