Italy may require a bailout, Berlusconi

[scooterscot]

Those bond holders driving up interest rates shoot shooting.

Every time I hear of those so called expert traders I thing of a flock of sheep running from pillar to post at the slightest upset causing mayhem where they go.

Seamus the EU sheepdog, where are you?

[AtW]

the current system of financial markets won't survive.

Yes I agree - current system is self destructive: like take those super fast trades, lots of clever programmers compete on who can make trade nano second faster than the other, special chips being developed, expensive databases etc it's complete dead end and we are approaching it fast - stock exchange should be for investments (even if they are speculative) but not for nano-second super fast trades, ffs - there should be high per transaction fees and compulsory delays - if you buy some shares then you keep them for X months or you forfeit it. If you don't like it don't fooking buy into that company.

[Mich the Tester]

Free market is an academic concept that has no implementation in real world - you can't threaten something that does not exist.

HTH

In pedantic terms, you're right, but what I mean is that the current system of financial markets and basically free trade won't survive at this rate. There is a real risk of people demanding control economies and the accompanying authoritarian governments.

[AtW]

I think free market capitalism itself is now in danger

Free market is an academic concept that has no implementation in real world - you can't threaten something that does not exist.

HTH

[AtW]

Its no solution at all for the PIIGS to stay in the Euro which is being run for the benefit of Germany.

Germany would have been better off with their own currency you cretin, they are making the sacrifices for greater good of Europe whilst parasites like you profit from it.

HTH

[Mich the Tester]

FFS European leadership is poor. Someone needs to grasp the situation by the scruff of the neck because it ain't going away. Its no solution at all for the PIIGS to stay in the Euro which is being run for the benefit of Germany.
So let them revert back to their original currencies, keep the "Euro "for Germany, the Netherlands and maybe France (which is the long run will have to comee out too as it can't keep up with Germany).
Hang on let's rename the Euro, the Mark.
Come to think of it why not go back to back to the pre-Euro when everything worked fine and each country could make its own policy while trading away merrily.

Yep, but I think free market capitalism itself is now in danger; how long are the public, most of whom don't really understand what's happening, going to tolerate their governments cutting pay, benefits, pensions and jobs etc without turning violent. OK, there was already violence in Athens, but if the Italian and Spanish public get that angry we're all in the tulip. I´m serious; we're talking about large developed countries with huge armies going out of control. At some stage the demand on governments to take radical action, perhaps as far as enforced nationalisation of banks, is just going to get to great to resist. That's not what I want to see, but I think the speculators are now playing a very dangerous game; a lot more dangerous than they think.

[sasguru]

FFS European leadership is poor. Someone needs to grasp the situation by the scruff of the neck because it ain't going away. Its no solution at all for the PIIGS to stay in the Euro which is being run for the benefit of Germany.
So let them revert back to their original currencies, keep the "Euro "for Germany, the Netherlands and maybe France (which is the long run will have to comee out too as it can't keep up with Germany).
Hang on let's rename the Euro, the Mark.
Come to think of it why not go back to back to the pre-Euro when everything worked fine and each country could make its own policy while trading away merrily.

[Old Greg]

You can always spot when Berlusconi is lying. His lips are moving.

I'd like to give him a pizza my mind.

[shaunbhoy]

You can always spot when Berlusconi is lying. His lips are moving.

[northernladuk]

Beeb reporting it now:
BBC News - Silvio Berlusconi says Italy banks 'solid and solvent'



I'll take that to mean they are fscked then.

It means it is good news and time for him to throw another party IMO.

[administrator]

Beeb reporting it now:
BBC News - Silvio Berlusconi says Italy banks 'solid and solvent'

Italian Prime Minister Silvio Berlusconi has said the country will not be drawn into the debt crisis engulfing Europe.


Addressing Parliament on Wednesday, he said Italy's banks are "solid and solvent" and the economy was "solid".

I'll take that to mean they are fscked then.

[minestrone]

Greece, now Rome.

We will be in the dark ages again soon.

[administrator]

Ouch.

[Paddy]

Italy may require a bailout, Berlusconi speaking now…