Topic: Euro debt summit fears rattle markets

[Libertas]

Even this modest deal appears to fall short of market expectations and is no shoe in for passage.

http://www.ft.com/cms/s/0/0f21a590-ff03-11e0-9b2f-00144feabdc0.html#axzz1btJjNGWW

Greenspan says north/south divide will doom EU.  I can't say I find much fault in his logic or the possible ripple effects would be as a result.

http://www.cnbc.com/id/45033013

Good rundown here on recent market activity, Yen his a new post war high, I think asian currencies in general will survive the strife better than others.

http://www.ft.com/intl/cms/s/0/2945685a-fde9-11e0-a9db-00144feabdc0.html#axzz1btJjNGWW

This last week of October could be more firghtening than usual!

[charlesoakwood]

“die Banken in die Schranken”

Live blog of the Euro zone problems.  The Italians have already had a fight physically going for each others throat.  Unless you are a subscriber it can be linked to at Drudge,

Because:

High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://blogs.ft.com/the-world/2011/10/eurozone-crisis-live-blog-6/#ixzz1btf3WT7U

[Libertas]

“die Banken in die Schranken”

Live blog of the Euro zone problems.  The Italians have already had a fight physically going for each others throat.  Unless you are a subscriber it can be linked to at Drudge,

Because:

High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://blogs.ft.com/the-world/2011/10/eurozone-crisis-live-blog-6/#ixzz1btf3WT7U

http://www.reuters.com/article/2011/10/26/us-italy-fight-idUSTRE79P37V20111026

Heh.  Not surpised.  Was in Italy a long time ago during my Navy days...them people love to argue.  Going for throat indicates the angst is elevated.

[Libertas]

Oh hey, get a load of this, Greeks are whipping out the Nazi lingo against the Germans.

http://www.reuters.com/article/2011/10/26/us-greece-germany-relations-idUSTRE79P3LN20111026

No mention if the Huns have brought up the man-boy love proclivities of Greeks...

 

[charlesoakwood]

The dark shadow of German-driven austerity measures squeezing Greece
[like a ripe pomegranite]...and some Greeks are beginning to resent the German...flocking their ancient sites.

 

[charlesoakwood]

Link

“Nobody should take for granted another 50 years of peace and prosperity in Europe. They are not for granted. That’s why I say: If the euro fails, Europe fails,” Merkel said, followed by a long applause from all political groups.  “We have a historical obligation: To protect by all means Europe’s unification process begun by our forefathers after centuries of hatred and blood spill. None of us can foresee what the consequences would be if we were to fail.”  
Angela Merkel    

       

Threatening subtext, eh?

[Glock32]

Oh hey, get a load of this, Greeks are whipping out the Nazi lingo against the Germans.

http://www.reuters.com/article/2011/10/26/us-greece-germany-relations-idUSTRE79P3LN20111026

No mention if the Huns have brought up the man-boy love proclivities of Greeks...

 

Motto of the Greek Army:  "Never leave your buddies behind"

In Greece, how do you separate the men from the boys?  With a crowbar.

[Libertas]

Link

“Nobody should take for granted another 50 years of peace and prosperity in Europe. They are not for granted. That’s why I say: If the euro fails, Europe fails,” Merkel said, followed by a long applause from all political groups.  “We have a historical obligation: To protect by all means Europe’s unification process begun by our forefathers after centuries of hatred and blood spill. None of us can foresee what the consequences would be if we were to fail.”  
Angela Merkel    

       

Threatening subtext, eh?

"What more do you want from them? Do you want them to starve to death?"

Where have I heard similar BS expressed before?  Oh yeah, out of the mouths of democrats like Biden, Pelosi et al...and the great unwashed mindless minions in the various Occupy hovels!

Merkel is right though, if they do not reign in debt across the EU, they'll break apart and once that happens is it that hard to imagine old rivalries, jealousies and hatred sparking off a new round of European wars?

 

The "Greek Haircut", coming to another EU nation near you!

http://www.reuters.com/article/2011/10/27/eu-greece-programme-idUSL5E7LR02120111027

Assume the position!

[Libertas]

Oh hey, get a load of this, Greeks are whipping out the Nazi lingo against the Germans.

http://www.reuters.com/article/2011/10/26/us-greece-germany-relations-idUSTRE79P3LN20111026

No mention if the Huns have brought up the man-boy love proclivities of Greeks...

 

Motto of the Greek Army:  "Never leave your buddies behind"

In Greece, how do you separate the men from the boys?  With a crowbar.

 

[IronDioPriest]

Merkel expresses something that is very real, in my opinion. When nations become so indebted to other nations, and their inability to repay in common currency becomes apparent and irreversible, the creditor nation's only two options are to forgive the debt, or to extract assets through coercion or force.

I've had that thought in regards to the relationship between the US and China. Their militarization and our rapidly worsening financial situation makes the likelihood of default more certain with each day. We have an awful lot of assets long after we run out of cash.

[Libertas]

Via ZeroHedge -

"In other words, as we have been saying for over two years, the fundamental question boils down to whether the opportunity cost of being part of the eurozone and funding the entire continent is greater than the loss of returning to the Deutsche Mark and abandoning the implicit peg which has kept the country's "currency" about 50% lower than its fair value since 1999. Last night's decision will bring the answer that much closer."

http://www.zerohedge.com/news/albert-edwards-eurozone-crisis-will-get-much-much-worse-and-ecb-will-print?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+zerohedge%2Ffeed+%28zero+hedge+-+on+a+long+enough+timeline%2C+the+survival+rate+for+everyone+drops+to+zero%29

The Europeans will do what we've been doing and monetize...that cannot sit well with the Germans, but there are many more haircuts to attempt, so the end result is far from certain...markets may bounce from a false sense of relief, but that too will be short lived.

[Libertas]

Merkel expresses something that is very real, in my opinion. When nations become so indebted to other nations, and their inability to repay in common currency becomes apparent and irreversible, the creditor nation's only two options are to forgive the debt, or to extract assets through coercion or force.

I've had that thought in regards to the relationship between the US and China. Their militarization and our rapidly worsening financial situation makes the likelihood of default more certain with each day. We have an awful lot of assets long after we run out of cash.

Using economic warfare as a means to achieve political goals is nothing new in the annals of history.  Machiavelli would approve of its use, and no doubt have disdain for those on the losing end.  Your fears are not unfounded.