At least the Greek leader offered a democratic option to the public. Our lot done a deal, (under bullying by the ECB) with the banks behind closed doors in the dead of night that has made us all paupers and protected the senior bank officials salaries, bonuses and severance payments at the public expense. As I said we’ve been suckered.

Declan I agree, they c

Declan I agree, they couldn’t sort out the washing I say! Do something we are all fed up with this ‘game’.

Good summary but missing one important point. If the ECB agrees to act as lender of the last resort to euro governments, unless the markets believe the euro-zone as a whole is insolvent, the ECB won’t need to print money, the markets will freely lend. It’s therefore a gamble on the overall solvency of the euro and on their ability to rein in overspending members.

A guarantee of this nature is inevitable, but why do it until the Berlusconi’s of the eurozone have been replaced and proper economic governance introduced, including harsh austerity where needed? All in good time….

ECB lender of last resort to beleaguered EU states with only a EU440 billion bailout fund? Don’t think so.

And you’re right! Germany’s not going to buy into funding an EU bailout and the markets are too jittery also so where’s it going to come from – China? The games up.

So Germany rules ? !

Again. They’ll dominate Europe one way or the other. I like Germany & the German people but the EU is more that France & Germany.

Yes, sounds smart,what about the next time theses faceless people make another f… Up.Then what reset the button again? The whole euro idea was great but it is like everything else that that is not equal it will eventually come tumbling down. The Euro is over.The sooner we all realise that the better.

Parallel punt?
http://www.politics.ie/forum/economy/136904-parallel-punt-voucher.html

Nonsense. Economic globalisation has brought hundreds of millions out of poverty. A few hiccups along the way is a small price to pay.

Ok. Thats fine until you see it devalued. Half of personal wealth in ireland would be lost. It would be the greatest depression ever.

The Euro has failed, it is time to work on minimizing the damage. Ireland and many other counties made a tremendous mistake in joining it, we now have to live with its inevitable demise.

The Euro has been a spectacular failure, and we are not done yet. Italy may or may not be able to grow/reduce the debt with the constraints of the Euro, it certainly is too big to fail/bailout, that does not mean that it will not fail. The next countries to go are Spain and France and indeed Germany. The German banks are holding a lot of dodgy and poor debt, if they have to be bailed out, Germany’s credit worthiness may come in to question.

It is time to cut interest rates to zero and the ECB start buying debt and writing off of debt, that is the only thing that can save the currency from disorderly collapse. They should also start planning for the break up of the currency. The idea that 17 different economies could be merged in to one, was always a foolish and unworkable idea.

Re your last sentence, Tim – would it be a fair statement to say that if federalisation of the EU was achieved first, the Euro would have succeeded ? Like the dollar in the USA ? I think it would as federalistion of the EU could have stabilised the EU for a single currency. Where to now is anyone’s guess. Either that or the problem with the EU has to do with weak leaders. I tend to think weak leaders who are policy-less are as much to blame. Look at the clowns we had before & look what we have now.

Until now!