The Euro Crisis is Over - What a relief !!!

Post reply   Start new thread
:: New - Old :: Old - New

Pages: 1 |

Forum home :: Latest threads :: Search forums
The Comments
11 Jun 2013 17:03 by eos_ian Star rating in Valencia. 482 posts Send private message

eos_ian´s avatar
Quite clearly we all missed out on this news, at least here in Spain...where the crisis is very far from over. But the French seem more optimistic....François Hollande, The President  has declared an end to the eurozone debt crisis, despite record unemployment across the continent. A bit balsy if you ask me..
 
"You must understand that the crisis in the eurozone is over," Hollande told an audience in Japan during a three-day state visit.
"Europe has become more stable, but it must now be oriented toward growth," he said during a speech in Tokyo. "I believe that the crisis, far from weakening the eurozone, will strengthen it.
"Now, we have all the instruments of stability and solidarity. There was an improvement in the economic governance of the eurozone, we set up a banking union, we have rules on budgetary matters that allow us to be better coordinated and have a form of convergence."
Hollande's comments come a week after thousands took to the streets of European cities to vent their anger at the "troika" of international bodies – the International Monetary Fund, the European Commission and European Central Bank (ECB) – whose insistence on austerity is blamed for worsening their economic hardship. There were angry scenes in Frankfurt near the ECB headquarters, as well as in Spain and Portugal, two of the countries that have received multi-billion euro bailouts to help them plug fiscal holes. Eurozone unemployment is at a record high – with 19.38 million out of work – and the single currency area is in its longest recession since it was created in 1999.
Youth unemployment is even more dire with 7.5 million (24%) young Europeans aged between 15 and 24 not in employment, education or training, according to EU data. More than half of young people in Greece (59%) and Spain (55%) are unemployed.
Finance and labour ministers from Spain, Germany, Italy and France are scheduled to meet in Rome on Friday. They aim to hammer out a European plan to "rescue an entire generation" who fear they will never find jobs.
Just two weeks ago Hollande warned that Europe's young unemployment could lead to the "complete breakdown of identifying with Europe".
 
Despite Hollande's claims that the crisis is over, Angela Merkel, the German chancellor, said eurozone countries must follow Germany's lead in tightening budgets and reforming labour markets. "It's greatly in Germany's interests to do everything so that structural reforms and budget discipline can take place in other countries,"
 
 
source The Guardian


_______________________

Ian :   EOS TEAM MEMBER 

www.eyeonspain.com/blogs/ianandspain.aspx




Like 0      
11 Jun 2013 17:14 by baz1946 Star rating. 2102 posts Send private message

Francois Hollande obviously never intended to count France in with this eurozone speech as only four weeks ago it was reported that France is almost bankrupt...if that's possible.

 





Like 0      
11 Jun 2013 17:41 by mac75 Star rating in Valencia. 406 posts Send private message

mac75´s avatar

 But it has always been France..... and then the rest of the World.  I wouldn't be surprised if we see Germany getting into real trouble before long too. This is anything but over.

 


This message was last edited by mac75 on 11/06/2013.

_______________________

A donde el corazón se inclina, el pie camina.




Like 0      
11 Jun 2013 17:46 by Cappielow Star rating in Sunny Greenock, Brus.... 471 posts Send private message

Cappielow´s avatar

I think the crisis is receding, the risk of Grecce, Spain or Portugal defaulting is certainly much lower than it was a year ago, but agree it's probably premature to say it's over. And the recover will be long and hard.

He's obviously adressing the Asian markets and it's his job to put as positive a spin on the economic outlook as possible, so I think you've got to cut him some slack.



_______________________

CondadoFamilyGolf.com




Like 0      
11 Jun 2013 17:54 by mac75 Star rating in Valencia. 406 posts Send private message

mac75´s avatar

 Agreed, you can cut all the slack you want and yes we need to be positive but I think he has been very premature on this call and it is more a problem of credibility than anything else which I don't think is an asset  the Eurozone has much of at the moment. Just how many times have they got it wrong, well better said lied... 



_______________________

A donde el corazón se inclina, el pie camina.




Like 0      
11 Jun 2013 21:09 by baz1946 Star rating. 2102 posts Send private message

I think the crisis is receding, the risk of Grecce, Spain or Portugal defaulting is certainly much lower than it was a year ago, but agree it's probably premature to say it's over. And the recover will be long and hard.

He's obviously adressing the Asian markets and it's his job to put as positive a spin on the economic outlook as possible, so I think you've got to cut him some slack.

Positive spins dont cure problems, they do exactly what the leaders want...cover up the problems instead of addressing them and the causes, then sorting the problems out, after all everyone of them gets elected on what they say they can and will do, and then do next to nothing.





Like 0      
11 Jun 2013 21:33 by AdrianH Star rating in UK (mostly) / Los Mo.... 23 posts Send private message

This saga is far from over and if you read last Saturday's Telegraph there is a good article on the case which begins this week in the German Constitutional Court. The case will decide whether the German constitution allows Germany to support the ECB's unlimited guarantee to buy bonds from "peripheral" economies such as Spain and Italy.

If the Court upholds the view of those petitioning against the government's position then Germany will not be able to support the ECB with funding and the crisis is centre stage again. If not then we will just stagger on until the next disaster strikes or people finally decide austerity is not the only choice.



Like 0      

Pages: 1 |

Post reply    Start new thread


Previous Threads

Car hire in Menorca - 1 posts
Free Cancellation car hire - 3 posts
how to pay community tax in Aguilas - 0 posts
Viloriens - 6 posts
COSTA LUZ Lawyers are THE BEST! - 5 posts
Imputed tax on UK home if resident here? - 1 posts
UK inheritance tax - 16 posts
LEASING / SALE OF FINANCIAL INSTRUMENT - 0 posts
Trying to rent in Spain - 3 posts
Transfer of car ownership with all docs but previous owner's NIE. Possible? - 13 posts
Flood Lights - 0 posts
inheritance,should be a good thing right? - 1 posts
sun awnings - 0 posts
Blaming the assets law for cgt - 6 posts
Warning - removals back to the UK - 2 posts
Bilderberg Group: The Secret Rulers of the World - 8 posts
Paying a Bill -a Cautionary Tale - 6 posts
Admin help needed with iPad 4 problems - 5 posts
tbag - 1 posts
Help wanted please - 4 posts
Legal tip 968. Cajamar accepts keys back in Courts - 0 posts
huma . builder - 3 posts
Rise in income tax - 21 posts
HOW DO I SET UP AN ANIMAL CHARITY IN SPAIN? - 2 posts
IS IT STUPID? - 15 posts

Number of posts in this thread: 7

DISCLAIMER:  All opinions posted on these message boards are the opinion solely of the poster and do not necessarily reflect the opinion of Eye on Spain, its servants or agents.


1 |
Our Weekly Email Digest
Name:  
Email:
   


This site uses cookies. By continuing to browse you are agreeing to our use of cookies. More information here. x