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(Reuters)   European Central Bank to Italy: "Son, you're on your own"   (uk.reuters.com) divider line 21
    More: Obvious, European Central Bank, Italy, Dr. Damien Weidmann, sovereign bond, sons, house of parliament  
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2418 clicks; posted to Business » on 16 Mar 2013 at 1:32 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



21 Comments   (+0 »)
   
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2013-03-16 01:38:10 PM  
Don't worry. Italy will get out of this...
padresteve.files.wordpress.com
Oh, Italia, sei così di talento! E sono così stupido!
 
2013-03-16 01:59:04 PM  

Fabric_Man: Don't worry. Italy will get out of this...
[padresteve.files.wordpress.com image 600x250]
Oh, Italia, sei così di talento! E sono così stupido!


I'd say that applies equally to the ECB.  It's not like the Euro or the EU could survive an Italian sovereign debt collapse.
 
2013-03-16 02:09:53 PM  
Italy to European Central Bank: "Excuse me while I whip this out".
 
2013-03-16 02:27:01 PM  
and nothing of value was lost.
 
2013-03-16 03:36:11 PM  
The anti-establishment politician Beppe Grillo has said he wants a referendum on Italy's use of the euro, while former Prime Minister Silvio Berlusconi has criticised what he sees as German economic "diktat" in the currency bloc.

Damn Germans, always trying to tell other countries what to do with Germany's money.
 
2013-03-16 03:52:30 PM  
Cyprus just decided to raid personal savings accounts (a "one time tax") rather than cut public sector pay.

Which is, on Monday, going to destroy their banking industry and start riots.

Monday is likely going to be full of financial turmoil all over.
 
2013-03-16 04:30:23 PM  

jjorsett: The anti-establishment politician Beppe Grillo has said he wants a referendum on Italy's use of the euro, while former Prime Minister Silvio Berlusconi has criticised what he sees as German economic "diktat" in the currency bloc.

Damn Germans, always trying to tell other countries what to do with Germany's money.


The problem is that the euro was set up to funnel money to Germany.  Germany knew that once the playing field was level, they would crush the south of Europe's productivity.  Germany pours money into the south so they can buy German goods, keeping Germans employed.
 
2013-03-16 04:34:03 PM  

jafiwam: Cyprus just decided to raid personal savings accounts (a "one time tax") rather than cut public sector pay.

Which is, on Monday, going to destroy their banking industry and start riots.

Monday is likely going to be full of financial turmoil all over.


Wow. This is news!

My wife claims that Obama (and perhaps congress too, to be fair, dummycrats and republitards both) are going to raid everyone's 401Ks, a one time thing. I find this a dumb idea (revolution, anyone?) but you sort of hate to see them getting the idea that it's possible.

My one big (serious) question, which I hope someone on fark has an intelligent answer to (yeah, I'm an optimist) is:

"In the end, isn't the euro the problem? Is there a cure that's less painful than the disease?"


Last of all, I'd like to point out that the number of abusive and completely idiotic posts on fark has increased dramatically in the past 18 months, to the point where the enjoyment and enlightenment of reading the website is taking a very serious hit.  I'm OK with a high level of gratuitous abuse, but I'm at the point where I'll soon put fark on the 'farking waste of time' list.

I'd suggest that there should be sort sort of blackball mechanism, where if some poster collects a huge number, then an overseeing group has a look at the offending posts and hands out a suspension, and then kicks the person out of fark if the pattern of pointless abuse continues.

Something to think about.

/Yes, I'm sure I'll be personally insulted for implying that fark should be anything other than a venue for personal insults.
//Proves my point, doesn't it?
 
2013-03-16 04:40:10 PM  

enemy of the state: jafiwam: Cyprus just decided to raid personal savings accounts (a "one time tax") rather than cut public sector pay.

Which is, on Monday, going to destroy their banking industry and start riots.

Monday is likely going to be full of financial turmoil all over.

Wow. This is news!

My wife claims that Obama (and perhaps congress too, to be fair, dummycrats and republitards both) are going to raid everyone's 401Ks, a one time thing. I find this a dumb idea (revolution, anyone?) but you sort of hate to see them getting the idea that it's possible.

My one big (serious) question, which I hope someone on fark has an intelligent answer to (yeah, I'm an optimist) is:

"In the end, isn't the euro the problem? Is there a cure that's less painful than the disease?"


Last of all, I'd like to point out that the number of abusive and completely idiotic posts on fark has increased dramatically in the past 18 months, to the point where the enjoyment and enlightenment of reading the website is taking a very serious hit.  I'm OK with a high level of gratuitous abuse, but I'm at the point where I'll soon put fark on the 'farking waste of time' list.

I'd suggest that there should be sort sort of blackball mechanism, where if some poster collects a huge number, then an overseeing group has a look at the offending posts and hands out a suspension, and then kicks the person out of fark if the pattern of pointless abuse continues.

Something to think about.

/Yes, I'm sure I'll be personally insulted for implying that fark should be anything other than a venue for personal insults.
//Proves my point, doesn't it?


I agree that the quality of posts have gone down the past few years. I pin the blame mostly on you, you idiot.
 
2013-03-16 04:53:34 PM  

Incontinent_dog_and_monkey_rodeo: jjorsett: The anti-establishment politician Beppe Grillo has said he wants a referendum on Italy's use of the euro, while former Prime Minister Silvio Berlusconi has criticised what he sees as German economic "diktat" in the currency bloc.

Damn Germans, always trying to tell other countries what to do with Germany's money.

The problem is that the euro was set up to funnel money to Germany.  Germany knew that once the playing field was level, they would crush the south of Europe's productivity.  Germany pours money into the south so they can buy German goods, keeping Germans employed.


Northern Europe as a block is performing better than Southern Europe, they always have and always will.

Well, surely not forever, what about the Roman Empire? Well, the Roman Empire met the Germanic tribes expanding south, and this happened:

http://en.wikipedia.org/wiki/Battle_of_the_Teutoburg_Forest

Always dude. Maybe southern Europe should look inwards instead of finding excuses.


Most productive my ass. Productivity isn't measured on how many hours you work.
 
2013-03-16 05:47:25 PM  
spawn73: Incontinent_dog_and_monkey_rodeo: jjorsett: The anti-establishment politician Beppe Grillo has said he wants a referendum on Italy's use of the euro, while former Prime Minister Silvio Berlusconi has criticised what he sees as German economic "diktat" in the currency bloc.

Damn Germans, always trying to tell other countries what to do with Germany's money.

The problem is that the euro was set up to funnel money to Germany.  Germany knew that once the playing field was level, they would crush the south of Europe's productivity.  Germany pours money into the south so they can buy German goods, keeping Germans employed.

Northern Europe as a block is performing better than Southern Europe, they always have and always will.

Well, surely not forever, what about the Roman Empire? Well, the Roman Empire met the Germanic tribes expanding south, and this happened:

http://en.wikipedia.org/wiki/Battle_of_the_Teutoburg_Forest

Always dude. Maybe southern Europe should look inwards instead of finding excuses.

The south of anything has been always a shiathole compared to the north of wherever. Like, in the US, for example.

It even scales up and down. Yeah, northern Europe does better than the south. Then you look at the south, and the north parts of say, Italy, do far better than the southern regions.
 
2013-03-16 06:01:29 PM  
The raid on accounts in Cyprus is mostly to penalize Russian money launderers.  Germany would not vote for a bailout that included making a bunch of mobsters whole.  It's a fairly unique situation, Cyprus' banking system is 5x bigger than the country's GDP.
 
2013-03-16 07:32:51 PM  
Thats too bad.  Its not like Italy bought and sold hundreds of billions of Euros worth of debt from everyone else, including Greece.  Wait, it did, and they will have to recall those loans to pay their debts, which will make everyone else recall their loans and the euro zone will collapse.  The overpaid paper pusher who announced this is an empty suit.  They will bail out Italy since it is in their best interests.
 
2013-03-16 09:06:39 PM  

enemy of the state: My wife claims that Obama (and perhaps congress too, to be fair, dummycrats and republitards both) are going to raid everyone's 401Ks, a one time thing. I find this a dumb idea (revolution, anyone?) but you sort of hate to see them getting the idea that it's possible.


I think we're just going to keep on inflating the currency while we fark over the formula for cost of living increases for social safety net programs.

Obama is pushing for Democrats to accept doing this right now.

Some information on what is planned and how it effects people.
 
2013-03-16 10:20:18 PM  
Weidmann keeps talking like he's got more than one vote.

Actually, most Germans are like that.
 
2013-03-17 12:56:01 AM  

LemSkroob: The south of anything has been always a shiathole compared to the north of wherever. Like, in the US, for example.


Southern Chna outperforms Northern China.
 
2013-03-17 01:04:36 AM  

sendtodave: LemSkroob: The south of anything has been always a shiathole compared to the north of wherever. Like, in the US, for example.

Southern Chna outperforms Northern China.


Ditto for India...
 
2013-03-17 02:34:59 PM  
Sounds like the bankers want to punish Italy for rejecting austerity.  I'm not surprised, especially when the bankers no longer got their protection money.

/Organized Crime, thy name is international banker
 
2013-03-17 07:55:12 PM  

Branch Dravidian: sendtodave: LemSkroob: The south of anything has been always a shiathole compared to the north of wherever. Like, in the US, for example.

Southern Chna outperforms Northern China.

Ditto for India...


It's  different in Asia because of the Coriolis Effect making the shiathole spin backwards.
 
2013-03-17 10:38:09 PM  

LemSkroob: spawn73: Incontinent_dog_and_monkey_rodeo: jjorsett: The anti-establishment politician Beppe Grillo has said he wants a referendum on Italy's use of the euro, while former Prime Minister Silvio Berlusconi has criticised what he sees as German economic "diktat" in the currency bloc.

Damn Germans, always trying to tell other countries what to do with Germany's money.

The problem is that the euro was set up to funnel money to Germany.  Germany knew that once the playing field was level, they would crush the south of Europe's productivity.  Germany pours money into the south so they can buy German goods, keeping Germans employed.

Northern Europe as a block is performing better than Southern Europe, they always have and always will.

Well, surely not forever, what about the Roman Empire? Well, the Roman Empire met the Germanic tribes expanding south, and this happened:

http://en.wikipedia.org/wiki/Battle_of_the_Teutoburg_Forest

Always dude. Maybe southern Europe should look inwards instead of finding excuses.

The south of anything has been always a shiathole compared to the north of wherever. Like, in the US, for example.

It even scales up and down. Yeah, northern Europe does better than the south. Then you look at the south, and the north parts of say, Italy, do far better than the southern regions.


Yeah, just ignore how those Byzantines carried on the eastern half of Rome while northwest Europe fell into the Dark Ages for 1,000 years.
 
2013-03-18 12:25:53 AM  
4-5% interest for 5-7 years is what is really needed. While it's nice to think that we're holding down the price on necessities, we're not doing that (food and gas prices are climbing) so why not let the creditors enjoy this tasty feast of fark ?
 
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