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Euro-saving operations due within 'days,' says Juncker
EU Observer ^ | 07.30.2012 @ 09:28 | Valentina Pop

Posted on 07/30/2012 2:12:34 PM PDT by Olog-hai

Eurogroup chief Jean-Claude Juncker has said there is "no time to lose," as the world talks about a eurozone breakup, with joint action by the European Central Bank and the eurozone bailout funds expected in the coming days.

"We have come to a crucial point. There is no more time to lose," Juncker said in an interview published both in Le Figaro and Süddeutsche Zeitung on Monday (30 July).

ECB chief Mario Draghi last week said the bank was ready to do "whatever it takes to preserve the euro" and hinted at more government bonds being bought up, a move which would help Italy and Spain bring down their record-high borrowing costs.

Juncker said the eurozone bailout fund, the European Financial Stability Facility (EFSF)—which has roughly €200 billion left to spend—will also contribute to the rescue operation. …


TOPICS: Business/Economy; Crime/Corruption; Foreign Affairs; Government
KEYWORDS: ecb; europeanunion; eussr; jeanclaudejuncker
Jean-Claude Juncker, the man who admitted he lied for the benefit of the EU, while also saying he believed that the EU is "doing God's work".
1 posted on 07/30/2012 2:12:44 PM PDT by Olog-hai
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To: Olog-hai

There is no voluntary way to save it. It’s an interesting exercise to watch them try to stave off the inevitable another month, week or day. I’m dead serious. It’s very interesting when you know, to the core of your being, that nothing they propose will do any good whatsoever.

It gives one an odd perspective on the events and an amazing clarity about the future. Especially when you watch it unfold just as it must.


2 posted on 07/30/2012 2:16:26 PM PDT by cuban leaf (Were doomed! Details at eleven.)
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To: Olog-hai

This is kinda related:

http://wiki.mises.org/wiki/Austrian_predictions/Housing_bubble

The information about those that did predict the crap that happened years later is amazing.


3 posted on 07/30/2012 2:19:59 PM PDT by cuban leaf (Were doomed! Details at eleven.)
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To: cuban leaf
It gives one an odd perspective on the events and an amazing clarity about the future. Especially when you watch it unfold just as it must.

I think that's rather a profound observation.

When Obama was elected, I resigned myself to watching as things unfolded, knowing how they must play out.

It sort of give you inner peace. There's nothing you can do about it. It's just going to happen, and so you sit back and watch the slow motion fulfillment of what you knew must come.

It's quite similar to a religious experience. I'm not sure everyone has moments like that.

4 posted on 07/30/2012 2:34:40 PM PDT by DoughtyOne (Remove all Democrats from the Republican party, and we won't have much Left, just a lot of Right.)
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To: Olog-hai

It’s ironic that the “Euro-saving” operations will only hasten its collapse. Pity.


5 posted on 07/30/2012 3:00:54 PM PDT by BfloGuy (The final outcome of the credit expansion is general impoverishment.)
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To: BfloGuy

Well, the member states haven’t obeyed and submitted to the “surrender of sovereignty” yet, so the crisis has to grind on.


6 posted on 07/30/2012 3:06:44 PM PDT by Olog-hai
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To: DoughtyOne

“I’m not sure everyone has moments like that...There’s nothing you can do about it. It’s just going to happen, and so you sit back and watch the slow motion fulfillment of what you knew must come.”


Your description of the process is a good one. The French term denouement, when the final outcome of events becomes clear, comes to mind.


7 posted on 07/30/2012 3:10:24 PM PDT by Starboard
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To: cuban leaf

Didn’t the Italian PM make the same statement about three weeks ago? Suppposedly, that was the crucial week. I agree. If there was a solution, we would have seen it by now. But then, what leader would ever say, “we passed the point of no return years ago.”

I’m afraid we’re in the same position.


8 posted on 07/30/2012 3:42:40 PM PDT by Paraclete
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To: Paraclete

The whole issue is a transfer of wealth from Germany, Denmark, Holland and Finland to the Club Med. I somehow don’t think the hard working people of the North are going to buy it in the end. German’s just aren’t going to work until 67 to see their others retire at 57.


9 posted on 07/30/2012 4:06:23 PM PDT by Oldexpat
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To: Paraclete

—I’m afraid we’re in the same position.—

When, for every dollar we spend we borrow another 40 cents, and the economy is contracting, you can bet your sweet bippy that this can’t go on much longer.

Hyperinflation is the only way this can end. Period.


10 posted on 07/31/2012 4:35:15 AM PDT by cuban leaf (Were doomed! Details at eleven.)
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