Carol Maczinsky - When were the perils of moral hazard and the absolute value of compliance with agreed rules invoked against Germany and France when, with utter disregard, they failed to meet the stability pact rules and no sanctions were brought on them? And if I remember correctly we weren't exactly in a bust scenario back then.
Further, I'm sure I am not the only one that remembers that, although at the time in a merely consultive or facultative role, the commission reviewed national budgets, both prior and post execution. If it lacked independent economic assessment instruments of its own then that is brussels and all of our politicians faults. But the truth is that the political reality was created that there was a technical stamp of approval on all national budgets. Of course that the greeks full on lied and many other countries "debudgeted" is something everyone knew. But this, politically, irrelevant.
Mark Pitts - Of course you can, its called the free market. Losses are as important as profits, they ensure responsibility and adequate risk. The debt stems from businesses deals whereby the lending party calculated the risk of default of the borrowing party and established a correspondent interest rate. Shared responsibility is the cause of the problem and the rule of the game.
Further, you seem to ignore or overlook the dynamic that the institutional crisis took on, whereby credit rating agencies where not only commenting on current conditions but also downgrading half the eurozone at a time for the stated reason of influencing impending EU summits. Speculation is not something that is born out of left-wing people's ignorance of or despise for wall street jargon. It exists now as it did in the time of the european exchange rate mechanism, and like then it was born out of institutional weakness and confusion and not underlying economic unbalances. This time around, however, there is clearly an added institutional weakness, which is the financial deregulation which led us to this, which persists unchanged and unfettered despite massive, transcontinental public outcry, and (seemingly) a consensus of the main, if not all, political parties.
Why Pay More?
why is hunting unethical?
Europe’s Path to Disunity
Carol Maczinsky - When were the perils of moral hazard and the absolute value of compliance with agreed rules invoked against Germany and France when, with utter disregard, they failed to meet the stability pact rules and no sanctions were brought on them? And if I remember correctly we weren't exactly in a bust scenario back then.
Further, I'm sure I am not the only one that remembers that, although at the time in a merely consultive or facultative role, the commission reviewed national budgets, both prior and post execution. If it lacked independent economic assessment instruments of its own then that is brussels and all of our politicians faults. But the truth is that the political reality was created that there was a technical stamp of approval on all national budgets. Of course that the greeks full on lied and many other countries "debudgeted" is something everyone knew. But this, politically, irrelevant.
Europe’s Necessary Union
Mark Pitts - Of course you can, its called the free market. Losses are as important as profits, they ensure responsibility and adequate risk. The debt stems from businesses deals whereby the lending party calculated the risk of default of the borrowing party and established a correspondent interest rate. Shared responsibility is the cause of the problem and the rule of the game.
Further, you seem to ignore or overlook the dynamic that the institutional crisis took on, whereby credit rating agencies where not only commenting on current conditions but also downgrading half the eurozone at a time for the stated reason of influencing impending EU summits. Speculation is not something that is born out of left-wing people's ignorance of or despise for wall street jargon. It exists now as it did in the time of the european exchange rate mechanism, and like then it was born out of institutional weakness and confusion and not underlying economic unbalances. This time around, however, there is clearly an added institutional weakness, which is the financial deregulation which led us to this, which persists unchanged and unfettered despite massive, transcontinental public outcry, and (seemingly) a consensus of the main, if not all, political parties.
Gold: The Republican Death Wish
I meant "of the eurozone ASWELL"
Gold: The Republican Death Wish
nope, Im glad to inform everyone it now exists in the southern countries of the eurozone! I don't think even Ron Paul is cheering for this one..