Congrats,you have done a great job.You have cleared most of my questions,however,some questions have remained uncleared... 1.why does not german and other EU countries let these countries(PIIGS) default? 2.Why is germany giving Italy money which in turn is again used by Italian banks to pay their debts back to other EU nations banks? Please reply
Can you tell whats in t for Germany and France? I mean why these countries started Euro in the first place.. The would have seen some benefits in the first place?
And what do the loose if Euro does not exist? Is the worth greater than the millions paid to Greek Italy and Portugal..
I would just like to highlight the fact that ordinary citizens in Portugal were happier with the Escudo...To put things simply, they understood it's value. When the Euro became Portugal's currency, generations lost their perspective and were now playing with monopoly money. Portugal may have benefited from a more favorable interest rate, but the country and every family is riddled with personal unmanageable debt now. It won't be long before there evolves a strong black market and an unauthorised currency.
Re: Nice Article
by Loga on Aug 20, 2011 07:44 AM
Poor and corrupt politics is their in India also but Indaia GDP growth is greowing with 8% to 9% from last 20 years and investments and Jobs are creating everywhere.It depends on good time and good policies by government.
The following may be considered pointers to US self centred policy and duplicity:
1. It lost vietnam war both strategically as well as militarily by losing around 100000 soldiers, but world wide it published that it won the war.
2. It used Voilent terrorism and communalism against Russia in AFGHAN WAR.
3. During the first gulf war the kuwaiti govt clearly told US that in case the strikes by Iraq on Israel is retaliated, kuwait would have no option but to join hands with invading Iraq which was a weird situation but US bUDGED TO THAT DEMAND out of effrontery,reason: to get share of Iraqi and kuwaiti oil production.
The moral of the story is that one has to be careful while doing business because there may be those around who can win over your trust and decieve without inhibitions.
WORLD IS IN TROUBLE FOR THE SAME REGION -POLITICIANS AND THEIR MINDLESS POLICIES
CLINTON WAS MAD TO OFFER HOME LOAN FOR EVERY BODY AND ANYBODY,DOESN'T MATTER WHETHER HE IS DESERVING OR NOT ,SO THEY CREATED TWO CATEGORY ONE PRIME AND ANOTHER SUB-PRIME -NEXT CATEGORY PEOPLE WERE MAINLY JOBLESS PEOPLE WITH NO INCOME OR ASSET KNOWN AS "NINJA" ELGIBLE FOR A LOAN HIGHER BY 3% OF NORMAL LOAN AMOUNT ,SINCE THEY DO NOT HAVE STEADY INCOME ,THEY COULDN'T PAY ,FINALLY BANKS COLLECTED HUGE NUMBER OF HOUSES IN PLACE OF EMI..
AND HOUSE PRICES COLLAPSED BY 30%, SO ALL THE BANK CAN RECOVER WAS 30% LESS THAN LOAN MONEY SANCTIONED
SINCE BANKS TOO HAVE THEIR LENDERS ,BANK NEEDED MONEY TO SUPPORT THEM AND IT CAME AS BAILOUT PACKAGE FROM GOVT.
NOW GOVT BECAUSE OF IT'S POPULAR POLICIES ON TAX REDUCTION, CHEAP MEDICAL FACILITY WAS ALREADY HAND TO MOUTH -HENCE GOVT HAS TO BORROW AND SO ON -FINALLY BORROWING IS CLOSE TO GDP-ALMOST SAME STORY IN EUROPE AS WELL..
FINALLY ALL GOT BANKRUPT----IN ONE GO..
NOW IRONY OF THE HISTROY WILL BE -IST WORLD ASKING FOR LOAN FROM THIRD WORLD
ONLY STRICT AUSTER MEASURE,INCREASE OF TAXES AND REDUCTION OF SUBSIDY WILL HELP THEM ,WHAT THEY TRIED TO TEACH INDIA ,LEARNING THEMSELVES HARD WAY
This article explained the European union crisis in such a nice way that it will get in to anybody's brain, I appreciate the author and who ever lives in the western world will realize these facts quickly and easily as they are going through the results of such messes.
