Euro crisis soon to blow over

[BrilloPad]

Much youth of Spain and Greece now choose to work in stronger regions.

With 50% youth unemployment in Spain I am not suprised that some choose to move away.

[AtW]

And the north-south divide grows bigger :-

German jobs miracle as Latin unemployment soars - Telegraph

And whose fault is that?

[scooterscot]

What you don't see from afar is within the EU the boarders are not much more than lines on a map.

Much youth of Spain and Greece now choose to work in stronger regions. One Greek chap and a spanish couple in the office.

The funny part, our cleaner for our apartment, guess where she's from? Cambridge!

[BrilloPad]

And the north-south divide grows bigger :-

German jobs miracle as Latin unemployment soars - Telegraph

[DimPrawn]

So looks like it'll be over fairly soon.

Euro-Krise: Starökonom O'Neill preist deutsche Wirtschaftskraft - SPIEGEL ONLINE - Nachrichten - Wirtschaft

Unfortunately I can't find an English translation.

Basically Jim'O'Neil saying that everything should sort its self out if the ECB continues to pump money into the market and countries get their spending under control.

Got to laugh.

Move along people nothing to see here that can't be solved by an infinite amount of money printing....

[eek]

So looks like it'll be over fairly soon.

Euro-Krise: Starökonom O'Neill preist deutsche Wirtschaftskraft - SPIEGEL ONLINE - Nachrichten - Wirtschaft

Unfortunately I can't find an English translation.

Basically Jim'O'Neil saying that everything should sort its self out if the ECB continues to pump money into the market and countries get their spending under control.

Dusseldorf - It's the opposite of what politicians and economists now think the world of Europe: The Economist Jim O'Neill sees good chances that the European economy keeps better than expected by many experts. "Most people assume that Europe is already in a deep recession and Germany are also in a downturn into running. The latest data tell a different story, "said the longtime chief economist of Goldman Sachs and now fund managers the" Handelsblatt ". "The fear that Europe takes the world into the abyss, seems unfounded at the moment."

DISPLAY

A decisive role come Germany to: The good economic development of the country was the most interesting development this year, as Germany was after all a third of economic strength in the euro-zone. O'Neill compares the situation in Europe with the Asia crisis of 1997. Back then, people would have ensured that the problems in Thailand, Indonesia and South Korea, other Asian countries and the world would drag down overall. "But China has come through the crisis and to stabilize the world economy. Maybe this time, Germany may be the stabilizing factor."
The behavior of Chancellor Angela Merkel in the euro debt crisis described O'Neill as "looking back, very right." Germany now get what it had always wanted: a tighter fiscal and political union . An alternative to a fiscal pact, he does not see.

Should come of this is, however, the European Central Bank (ECB) asked, "If the states are obliged to save, which presses on the growth here, the ECB is to control you must be at least as generous as at the moment, perhaps the financing terms or even.. facilitate further. Is it this way, the markets will react with palpable relief, "O'Neill said, according to the sheet on.

In order not to lose the connection to the other major economic areas, must change Europe, however, calls O'Neill. "Europe needs to show more dynamic, real leadership. Europe's politicians must finally acknowledge that they live in a changing world, not static." The Economist warns about in the newspaper also appreciated against the importance of the euro crisis for the world economy. "Europe is not the world," he said.

Which is clueless in the extreme because there is no way Greece Portugal and others can control their spending given the current economic meltdown they find themselves in.

[BrilloPad]

From the economist - Yet another EU summit ends with agreement, but the euro crisis is far from resolved - The EU summit: A deal, but to what end? | The Economist

Unfortunately the best that can be done now is kicking the can further down the road. There needs to be transfers from north to south or the south need to leave.

[BlasterBates]

So looks like it'll be over fairly soon.

http://www.spiegel.de/wirtschaft/soz...812345,00.html

Unfortunately I can't find an English translation.

Basically Jim'O'Neil saying that everything should sort its self out if the ECB continues to pump money into the market and countries get their spending under control.