2010-02-26, 11:54 | Link #6281 | ||
NYAAAAHAAANNNNN~
Join Date: Nov 2007
Age: 35
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Sounds like a pretty big shit. I am going to read a little more before making my next post, I don't believe that Greece is going to be a failed state, or the Euro is going to take damage until it is worthless. EDIT : I did another check and if what Wiki said is true about Greece having a high level of political corruption, that could be a damaging cause that could hinder its recovery. Usually countries with maritime advantages do not go down so easily in terms of economic damage as long as they have a strong control of corruption, the port-of-call taxes are incredibly profitable and easy to capitalise on (because shipments HAVE to pass through your country no matter what cargo they are carrying or where they are going, unless they want to sink or get stranded somewhere in the Atlantic) with the right protocols and book-keeping to ensure that the money goes where it should (building the country).
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Last edited by SaintessHeart; 2010-02-26 at 12:06. |
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2010-02-26, 12:21 | Link #6282 | |
Not Enough Sleep
Join Date: Nov 2003
Location: R'lyeh
Age: 48
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2010-02-26, 12:24 | Link #6283 | ||
Disabled By Request
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2010-02-26, 12:35 | Link #6284 | ||
NYAAAAHAAANNNNN~
Join Date: Nov 2007
Age: 35
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Also, it is going to create massive damage to the world economy : decentralising a globally used form of credit is going to mess up our largely computerised trade infrastructure because it is going to mean re-programming millions of computers and re-building accounting software at a more complex level. It is the number 2 most traded currency in the world, dissolving it is not an option unless we can count on China to peg their currency as tradable, currently impossible because of its valuation (need to slash a couple of zeroes off the back), its currency security (not enough done to make it less forgable) and the local corruption within its government. Besides, according to Wiki (don't know if it is true or false), 150 million people in Africa use currencies pegged to the Euro, dissolving it is as good as blowing them back to Stone age. Quote:
Besides most politicians are like that. You can't blame them, so as to quote Erwin Rommel : Men are basically smart or dumb and lazy or ambitious. The dumb and ambitious ones are dangerous and I get rid of them. The dumb and lazy ones I give mundane duties. The smart ambitious ones I put on my staff. The smart and lazy ones I make my commanders. Yeah, that is why they end up at the top, and there isn't enough smart and ambitious ones to clean up the mess they make.
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2010-02-26, 12:50 | Link #6285 | |
Not Enough Sleep
Join Date: Nov 2003
Location: R'lyeh
Age: 48
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2010-02-26, 12:58 | Link #6286 |
Disabled By Request
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He owns the largest broadcasting company in Italy called Mediaset which comprises of three of the six most viewed channels: Rete4, Canale5 and Italia1. He made his way to power through media, propaganda and smart use of advertising. This is why I hate the media. People use this tool for their own gain.
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2010-02-26, 13:20 | Link #6287 | |
NYAAAAHAAANNNNN~
Join Date: Nov 2007
Age: 35
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I credit my scores in current affairs essays to that tactic. And I believe successful revolutionaries credit their success to that tactic too. But there will be a new problem : Are you righter than them, or are you wrong too? The only right thing about politics is to create a win-win situation for all, but personal enmity and grudge-bearing often get the better of politicians, and result in their descent into the tyrants they once overthrow. Take a look at the Bolshevik Revolution and how Stalin betrayed Trotsky - when one holds too much power, he/she fears it will be taken from him, which then turns things personal. It is the fear that makes the politicians untrustworthy and withdraws them from the society they want to serve, otherwise, they are mentally more productive as their peers as their ability to climb to that position is a tenement of their capabilities.
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2010-02-26, 13:46 | Link #6288 | ||
9wiki
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The contrast you are drawing between the US and the EU would not have applied before. Originally, the US operated much as the EU did, with powerful states and a federal government which was restricted to the regulation of intra-state affairs (of course, the federal government was also tasked with foreign relations and established limitations of state power, but I don't think those are too relevant for this discussion). The early US had an advantage of being mostly English speaking, but cultures certainly varied, and the states lacked the communication advantages of today. The US operated in such a fashion, with one currency, for around a century's time before the federal government had usurped power. Your argument does apply now, though, because it was after the US federal government had usurped power from its states that the gold standard was dropped. In fact, most every other currency adopted by a multi-national federation/union/empire/etc has been gold-backed or had intrinsic value. A friend noted the Warsaw Pact as an exception to this (personal trade was not done everywhere with the common currency, but a common currency was used), but he also pointed out that the Soviet work to control the currency makes it a poor comparison. The EU's combination of governance and economic system is a fairly unprecedented situation. Valuable lessons will be (and are being) learned here, if the world will pay attention.
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2010-02-26, 15:12 | Link #6289 | |
Rawrrr!
Join Date: Mar 2008
Location: CH aka Chocaholic Heaven
Age: 40
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If the Euro were to be abandoned, they would simply revert to being pegged to the French franc (which, according to poll, a substantial fraction of the French people regret) as the CFA Franc is guaranteed by the French treasury only, not the European Central Bank. And the same goes for the Comorian Franc. A big problem about the Euro, is that it was built around the Deutsche Mark, which was one of the hardest currency in the World, reflecting the policies and the economy of Germany. The others "big players", namely France and Italy, have on the contrary a long history of inflation, due to their economic, social and political settings. So at the end, a weakened Germany simply cannot hold the Euro by itself, while the other major members are either large inflationist countries, prosperous but very small countries (BENELUX, Austria, Finland), and relatively large "developing" countries (Spain, Greece, Ireland), plus all the new members, which economies are far form being close to the German one. It's no wonder that the U.K. , Denmark and Sweden stayed out of the Eurozone, and kept their own currencies. Why join an unsustainable hard currency when it's held only by one large economy, dragged down by large inflationist economies, and will be shaken by lots of developing economies; when your own currency is already hard enough?
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Last edited by JMvS; 2010-02-26 at 15:45. |
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2010-02-26, 16:36 | Link #6291 | |
NYAAAAHAAANNNNN~
Join Date: Nov 2007
Age: 35
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2010-02-26, 17:10 | Link #6292 | |
Rawrrr!
Join Date: Mar 2008
Location: CH aka Chocaholic Heaven
Age: 40
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It's true that in term of volume, most of the trade is done using USD or Euro as a reference, but if you look back in history, the Euro basically took the place of the Deutsch Mark, which was at the time the hardest currency, as Germany was also the World's 1st exporter. Even as it became the 2nd World Economy, the JPY never made as much of the Banks Reserves, same for the GBP, as those were quite mobile currencies. But if we look at the current economical landscape, which is vastly different, I got the feeling that EU countries out of the Eurozone will be better off, and that the Yuan might become a major currency, as China has taken Japan's place, and if they manage to stop underevaluating it.
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2010-02-26, 18:16 | Link #6293 | |
NYAAAAHAAANNNNN~
Join Date: Nov 2007
Age: 35
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Besides, they would want to ensure a majority of their people are educated before they move in as a dominant power, most of the Chinese living in the rural areas still fall below the expected literacy to compete in the world market.
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2010-02-27, 04:08 | Link #6295 |
The AnimeSuki Pet kitten
IT Support
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Orlandos Seaworld to keep killer killer whale Tilikum even after death of Dawn Brancheau
Accident waiting to happen, anyone?
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2010-02-27, 04:21 | Link #6296 | ||
Bittersweet Distractor
Join Date: Nov 2007
Age: 32
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2010-02-27, 05:30 | Link #6298 | |
Aria Company
Join Date: Nov 2003
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current affairs, discussion, international |
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