‘Time short’ for eurozone, says Cameron

George Parker and Lionel Barber
FT.com
October 9, 2011

David Cameron has urged European leaders to take a “big bazooka” approach to resolving the eurozone crisis, warning they have just a matter of weeks to avert economic disaster.

The UK prime minister wants France and Germany to bury their differences and to adopt before the end of the year what he claims would be a decisive five-point plan to end the uncertainty, which was having a “chilling effect” on the world economy.

Meanwhile, on Sunday, Angela Merkel, the German chancellor, and France’s President Nicolas Sarkozy spelt out their determination to defend the stability of the euro as they met for a bilateral summit in Berlin, though they refused to spell out details of their plans.

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9 Responses to “‘Time short’ for eurozone, says Cameron”

  1. Can you imagine if the Annunaki came back to Earth next year and demanded all the gold. Even that that is horded away for a rainy day. hahaha What a crazy reception the man-gods would get if all they wanted was gold. The bankers would be crapping themselves and I would be laughing. Oh, all those gold pens … gotta go and those gold watches too. hehehe Oh lord the elite would be hurting for days on end.

  2. IF YOU THINK OBAMA IS A DOUCHE, JUST LOOK AT THIS GUY. NOT ONLY IS HE A DOUCHE BUT HE GOVERNS LIKE A MILTIANT BNP RACIST

    • The UK would be better off with the BNP, at least you would know you had a Nazi leader and he wouldn’t be a pansy prat boy and the BNP would tell the eastern European immigrants to piss off and keep the jobs for Brits. Yeah, Cameron is a pansy poofter boy from the old boys club for sure that gets off on firing people… I bet he wanks every time another 5000 get laid off.

  3. They are going to bring out the bazooka for the Euro… they are going to give a shit load of money to central banks and to Greece and restructure, yet again. The plan here is to see if they can save the euro and if not, delay the collapse long enough to get the orders filled for the printing of the new currency. The printing of the new currency, in itself, is not a sign that Germany will definitely leave the Euro. However, it is a sign that Germany is worried enough to have a back up plan if this latest fiscal bazooka does not work. Any country caught without a backup plan will be in deep shit as it takes a long time to get enough national currency together and circulated to transition over. Germany are no fools, they know this and the printing costs are minimal for the safety of a backup plan.

    • By the way, if the Euro goes south, the announcement of having enough national currency available in the event of a transition might be enough to instil trust into a country’s stock markets. Germany is also aware of this fact. A country without this backup plan in place and absent of some sort of announcement such as this might find its stock markets crashing severely at some point. So I would say Spain and Ireland and France and others better get their back up pesetas, punts and francs ready.

  4. i don;t know if it is true or not, but i heard that every time the stock market fell, it was on oct 29th.

  5. Euro just a Scheme? Germany Printing Marks PDF Print E-mail
    Saturday, 08 October 2011

    Euros? Soon it may be as valuable as a McDonalds napkin!

    Germany is printing deutsche marks in preparation to leave the euro common currency, says Philippa Malmgren, a former economics adviser to George W. Bush.

    This information is not new, Deutche Bank’s boss confirmed this back in mid July.

    “My view is that it is Germany that will have to pull out of the euro,” Malmgren said at an investors’ conference in London recently, according to the Citywire news website.

    “The decision has already been made by the government that leaving the euro is a possibility. I think they have already got the printing machines going and are bringing out the old deutsche marks they have left over from when the euro was introduced.”

    Malmgren, co-founder of Principalis Asset Management, acknowledged that leaving the euro would be a radical move that would cause Germany’s export prices to jump, but said German industries are strong enough to handle price increases, Citywire reported.

    Other countries have let currency unions before, Malmgren said, citing the report, “Checking Out: Exits from Currency Unions.”

    Countries leaving currency unions are usually larger, wealthier, and more democratic and typically have higher inflation than their partners, according to the report, published by the Monetary Authority of Singapore.

    Malmgren predicts that more eurozone countries will default, causing deep changes in society, Citywire reported. “It is important to begin preparing the public to deal with this situation.”

    Malmgren isn’t the only one saying the euro is in trouble.

    “The euro is nearing its ugly end,” said Stefan Homburg, head of Germany’s Institute for Public Finance, according to The Telegraph. “A collapse of monetary union now appears unavoidable.”

    The Bundestag, Germany’s legislature, approved more bailout funds for Greece but the growing rescue fund is becoming increasingly unpopular in Germany. Many economists and investment professionals say the fund is not large enough to save Greece and other eurozone countries from defaulting.

    source: MIA News

  6. The Euro is doomed already. Germany, according to infowars reports ALREADY sent orders to print German Marks again. Germany financed the Euro. I know, I was there when, THEN German Chancellor, Helmut Kohl, committed Germany to finance this behemoth.

  7. “a decisive five point plan”

    1. Print currency and bail out the banksters
    2. Print currency and bail out the banksters
    3. Print currency and bail out the banksters
    4. Print currency and bail out the banksters
    5. Print currency and bail out the banksters

    at least they are giving us a few weeks to prepare….

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