Will the latest deal in Europe solve the debt crisis?
Place your wagers; poll embedded on the site.
Answers:
- Yes
- No
- It depends on what ‘solve’ means
P.S. – Here’s what a leading German business weekly magazine is running on the front cover. Hint: the woman winking is on a Deutsche Mark bill. Hat tip egghat; ihm ist das langsam peinlich.
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Source: WiWo
Also see Felix Salmon’s piece on Europe’s disastrous summit.
Wow ! I was out jogging and I was hoping that some optimistic souls would meanwhile join me in and vote yes. And now there are 3 of us in the Euro-optimist club ! Amazing ! -:)
I’m also think that this was a positive meeting. While more has to be done, the exclusion of England at least give some hope of a resolution
How long did it take for the 27 nations to ratify paltry E270b rescue fond? So how long will it take for the 26 nations to ratify significant loss of sovereignty? The reality implies that the proposed pact is more of the same waffle we have been seeing in recent year since the crisis intensified. And the FX market reaction is a clear indication that nobody has much faith in this deal – the Euro is paltry 0.2% up on USD today.
The only practical move that could have some limited short term impact is the 200b committed to IMF. But this begs the question – why lend to IMF why not directly? Is this the cowardice of the EU elites who prefer that the IMF plays the bad cop? Are American being asked to do the dirty work for Europeans again?
I love being a contrarian……but……a pig is a pig is a pig. You can’t make a silk purse etc.
“I depends on what ‘solve’ means” What a great answer…! lol
My vote is NO. We should look clear at the situation. The most decisions made by EU politics has not fast effect but only in long term the problem will be solved. We will see years of fear and untrusted to each member of the EU. The total control for finance, debts and taxation should be revised.
Its the debt and until it is addressed fully it will eat upon itself