AnimeSuki Forum - View Single Post

willx · 2013-03-20, 20:56

So, I addressed each of my responses to separate part of your statements, but you appear to have a rather interesting set of preconceived notions that is clear from your language. I'm curious what these beliefs are founded upon? I work in Finance, I evaluate companies/businesses in financial distress and I'm generally well versed in macro effects and policy impacts on particular markets and businesses. I've also done research on the working papers that resulted in the formation of the EU/Eurozone and how they were adjusted beyond the framework of its initial design to allow countries that would have otherwise not met the initial thresholds.

I personally think the EU, which I mean to also include the concept of the Eurozone or officially "euro area" despite knowing they're different for simplicity's sake, in terms of an economic and monetary union perspective was the dumbest move in the world. The difference is I think it was very stupid for France and Germany as well, despite the benefits to those countries (currency, terms of trade).

Anyways, the idea of taxing all depositors was a bad idea, the structure will likely in coming days be revised to apply a "tax" only to deposits above the statutory insured amount. Ultimately, if the banks were to go bankrupt instead without support only the statutory insured amount would be guaranteed by the government anyway.

Ultimately, I'm unsure of what you believe to be the "ideal" situation with regards to the banking system, global reserve currencies and use of leverage in business. Germany benefited from a weaker currency and thus benefited via trade. Greece and numerous other countries benefited due to an increased perception of safety and thus could borrow and otherwise have terms of international trade beyond its fundamental credit worthiness. Cyprus benefited when it joined as it then shared the same currency as its largest trading partner, Greece, and became ever more a finance gateway between Western Europe and Central Europe. That said, Greece, separate from the EU would have faced financial issues much sooner and without a bail out would have declared cascading private and public bankruptcy. Cyprus as one of Greece's largest trading partners and holder of significant Greek bonds would have faltered as well. Is any of that really in doubt?

2013-03-20, 20:56	Link #10
willx Nyaaan~~ Join Date: Feb 2006 Age: 40	So, I addressed each of my responses to separate part of your statements, but you appear to have a rather interesting set of preconceived notions that is clear from your language. I'm curious what these beliefs are founded upon? I work in Finance, I evaluate companies/businesses in financial distress and I'm generally well versed in macro effects and policy impacts on particular markets and businesses. I've also done research on the working papers that resulted in the formation of the EU/Eurozone and how they were adjusted beyond the framework of its initial design to allow countries that would have otherwise not met the initial thresholds. I personally think the EU, which I mean to also include the concept of the Eurozone or officially "euro area" despite knowing they're different for simplicity's sake, in terms of an economic and monetary union perspective was the dumbest move in the world. The difference is I think it was very stupid for France and Germany as well, despite the benefits to those countries (currency, terms of trade). Anyways, the idea of taxing all depositors was a bad idea, the structure will likely in coming days be revised to apply a "tax" only to deposits above the statutory insured amount. Ultimately, if the banks were to go bankrupt instead without support only the statutory insured amount would be guaranteed by the government anyway. Ultimately, I'm unsure of what you believe to be the "ideal" situation with regards to the banking system, global reserve currencies and use of leverage in business. Germany benefited from a weaker currency and thus benefited via trade. Greece and numerous other countries benefited due to an increased perception of safety and thus could borrow and otherwise have terms of international trade beyond its fundamental credit worthiness. Cyprus benefited when it joined as it then shared the same currency as its largest trading partner, Greece, and became ever more a finance gateway between Western Europe and Central Europe. That said, Greece, separate from the EU would have faced financial issues much sooner and without a bail out would have declared cascading private and public bankruptcy. Cyprus as one of Greece's largest trading partners and holder of significant Greek bonds would have faltered as well. Is any of that really in doubt? __________________ Nyaaaan~~