PDA

View Full Version : Italy PM Warns Policy-Makers Against Dividing Europe.....



MMC
12-16-2011, 07:57 AM
ROME (Reuters) - Italy's prime minister urged European policymakers on Friday to beware of dividing the continent with their efforts to fight its debt crisis and warned them against feeding "short-term hunger for rigor" in some countries, in a swipe at Germany.
German Chancellor Angela Merkel -- under pressure from the voter-revered Bundesbank to force debt-saddled euro zone countries to reform and save their way out of crisis -- has led a push for automatic sanctions for deficit sinners in the bloc.

This has fed concerns that excessive debt-tightening in southern euro zone countries could send their economies into a negative spiral with no prospect of growing out of the crisis, and a real chance of feeding resentment of the prosperous north.

The head of Italy's largest labor federation CGIL said on Wednesday the country risks a "social explosion" over the government's austerity measures and unions plan more protests against them.

Separately, Ireland's debt-strapped economy contracted by 1.9 percent in the third quarter, far worse than expected, the stakes for its fiscal and debt targets under an EU-IMF bailout.....snip~

http://news.yahoo.com/italy-pm-warns-policymakers-against-dividing-europe-114202324.html <<<<< More Here!


North vs South in the EU.....they keeps saying they could have a recession. They are already in a recession. So stop lying to the World. Another that is not mentioned in all of this is Austria as they also are in trouble economically.

So should we feel sympathy for the Devil? Bernanke assures us we will not bail them out. Out of all the EU Countries. Who Would be the Major instigator with policy making decisions? According to the Economists here in the US and the EU. The Brits are going to fall now and will eventualy need that IMF Bailout.

We are talking about a group of countries that have never controlled their economies with any type of calls to balance budgets. Countries that have never had to put forth Defense of their Countries. Didin't they just riot in france a few months back for raising their version of Social Security's age restriction to 62.

Also isnt it true that majority of the EU are working 4 day work weeks with 32-35 hours as a full time job? That they have more holidays off work than most countries in the Western World. These EU economists havent been right most of this year. Much for 3 decades of them getting it all wrong. So tell me why we should listen to then about anything they are saying concerning the global economy?

Conley
12-16-2011, 10:28 AM
Yes, the hours and days they work in the EU compared to the United States...well, there is no comparison. Weren't there riots in France when they tried to make them go to 40 hours a week? No way in heck should the U.S. be paying for a bailout for these guys. And you're right, if things are as bad as they say they must already be in a recession. It takes a while for the data to come out.

MMC
12-16-2011, 10:58 AM
They had some economist on from london and he said if Obama wins they expect to have a mild recession. I mean cmon.....which means they are looking at us for something and Obama already stated to France that we will support them. Moreover I believe we had a stat up before on how much the US gives to the IMF.

Merkel wants all these sanctions as if such was like Iran over economic failures to meet budgets. Sarkosy didnt help matters buy stating that now there were Two Europes due the Brits not wanting to take part of those measures.

Mister D
12-16-2011, 11:41 AM
The bill has come due...

Mister D
12-16-2011, 11:41 AM
Obviously, this isn't sustainable.

MMC
12-16-2011, 11:48 AM
Course now the brits are going to talk with the rest of the reamining European countries and assist in getting them to join in. This is ridiculous.

Yes they did riot about going to a 40 hr week. Plus the age increase for Social Security or whatever they call it over there.

Not to mention Merkel was told that this would make for certain that those Southern Countries would see no growth as they don't have the exports. Italy is different than Greece and what do the Germans expect from a agrarian society with tourism to keep their Country afloat? The exports will never be there!

Conley
12-16-2011, 11:52 AM
They had some economist on from london and he said if Obama wins they expect to have a mild recession. I mean cmon.....which means they are looking at us for something and Obama already stated to France that we will support them. Moreover I believe we had a stat up before on how much the US gives to the IMF.

Merkel wants all these sanctions as if such was like Iran over economic failures to meet budgets. Sarkosy didnt help matters buy stating that now there were Two Europes due the Brits not wanting to take part of those measures.

There are two Europes. One that is screwed and one that is even more screwed! Sorry to be crass but that's how I see it in economic terms.

Mister D
12-16-2011, 12:13 PM
LOL! Sad, amusing, and true.

MMC
12-16-2011, 01:03 PM
Agreed there.....like I said thats just with these EU countries. Then they started talking about Poland, Austria and Belgium. Then it's to much to keep up with unless you got all kinds of articles up on them all.