I see the EU bailout of the banks in the Republic of Ireland has failed, and they now need billions more Euros to keep them afloat.
When will the insanity of this monopoly money currency end ?
It is practically bankrupting Europe to try to keep this currency going. If the countries which are in deep sh1t could revert to their own currencies and devalue etc as necessary they could eventually become solvent again. But the way they keep throwing money down a bottomless hole to stubbornly keep the Euro afloat when it has already drowned is insane.
Its a political rather than an economic project and was always doomed to fail. Until the cretins in charge of it finally admit defeat, it will continue to swallow up mind boggling sums of money from countries which dont have the money to give.
Where will it all end.

If they adopt Sterling, I will eat my old socks . Politically that would be hyper sensitive. Stranger things have happened though. I hope someone blinks soon, and makes a decision for the good of their own country - and in the longer term, Europe as a whole.

Exactly. And hopefully the whole con would start unravelling very quickly.

Yeh, I suppose they could concievably become non eurozone members, but I think that once one country summons up the bottle to leave the Euro there will be a stampede and then it will collapse like a house of cards.

The EU are fighting tooth and nail to keep the wheels on the wagon, but I think its inevitable that it will fail. They will simply run out of money at some point. The German taxpayers are reportedly getting seriously pissed off at having to keep digging ever deeper into their pockets.

freking banks.

All about short term gain, sod the customer, how much is my bonus going to be this year?

A few years ago , I worked for a company that adopted such approaches at the expense of long term plans, maintenance and so on. It was a great company but now is a former shadow of itself. they lost touch with reality through short termism.

freking banks. I hate them.

Nickbat wrote on 01. Apr 2011 at 11:12:


Quote:


Aside from the monetary aspect of your remark this is precisely what is wrong with the EU as it presently stands.

It is impossible, in my view, to attempt to align disparate nations (each having their own view of how their national affairs should be conducted) into a homogenised unit under a common leadership/laws/policy banner.

This is especially so when that forced homogenisation is attempted by way of political decree or financial inducement achieved through sharp practice, denial of due process and the single minded determination to achieve the given aim at all costs.

As things stand in the EU, one size most certainly does not fit all.