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

[AtW]

The cost of pushing wheelbarrows of zloty accross Europe is too much to bear so the client (in warsaw) pays us in Euros.

So your business benefits in not having to deal with multiple currencies and paying bankers hefty conversion fees?

They whine about tax on transactions but they are pretty good at charging 2% on conversions or 2-3% on credit card processing for merchants.

[DodgyAgent]

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

The cost of pushing wheelbarrows of zloty accross Europe is too much to bear so the client (in warsaw) pays us in Euros.

[AtW]

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

[DodgyAgent]

That's a relief!

At my age relief is in short supply.

[AtW]

our queues are more affluent than yours.

That's a relief!

[psychocandy]

Go Euro Go!!!!

not up much today. Still a crappy 1/1.275

[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.

[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.

[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

[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]

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.

[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

[sasguru]

We dont all live in your nice manicured little world where everyone bows to the rules set .

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.

[sasguru]

I thought you were retarded?

Oh wait retired

Since you won "Personality of the Year", your feeble attempts to be funny have shown up the uselessness of the award.

HTH

[DodgyAgent]

So, let me get this straight - you make 50% of revenues from countries that you want to declare bankrupcy and turn your euro holdings into printed paper?

I personally think people should be responsible for their actions and so should Govts - if they borrowed money then they should repay them back: if they want to go bankrupt then they should sell off all state property rather than just tell creditors to feck off.

We dont all live in your nice manicured little world where everyone bows to the rules set out by the ruling parties do we?

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. So rather than unravel it all and get everyone paying back their borrowings let them go bust. The upside is that creditors in the future will know better than to support another grandiose common currency scheme.