@JeanMaria93 I would chose a similar method. Use the efsf to buy time and while it lasts demand the banks to increase their capital quota until they can survive a full default and then let it take place. Another important reform would be to divide investment banking and saving/credit banks in order to prevent people from losing all their savings due to other peoples' speculations. This would stable our financial system and thus the entire society.
@neos9898 around 100 million native speakers and around 200 million total speakers, it is in fact the most widely-spoken first language in the European Union. But i agree, english subtitles are needed.
@Highwaycrazy But for the eurozone this won't work out. The USA have plenty of resources for themselves and they don't export much except financial services. Countries like germany or austria and the netherlands need a strong currency in order to buy resources we don't have, but need to keep our industry working. The best economic solution would be to seperate the eurozone (like a hard euro for the north and an olive euro for the south), but the politicians dont want that.
@BugMagnet Show some empathy,if Greece weren't serious about enacting painful reforms,how exactly did it manage to trim its deficit by 7% in two years?By building colossal industries?The Euro Plus Monitor stated that the main reason why Greece was unable to reach its budget targets is because the troika enforced more austerity to compensate for loss of revenue,beyond the fact that the tax code has become too convoluted.We need pro-growth measures,not tax hikes.
@NorceCodine would eurobonds be in the interest of great britain? no. So Britain remains as the isolated nation with its own interest in the EU (maybe also CZ, but not in case of the financial tax, but the fiscal union one)
@Highwaycrazy Well austerity has to be accompanied by structural reforms. The british and americans tryed to flood their markets with money in order to grow their way out, they failed. They have higher unemployment, lower growth and less competitiveness. Forcing a central bank to buy foul dept always leads to moral hazard and results not only in inflation but also in a loss of competitiveness. Structural reforms on the other hand gain the trust of private investors, reduce cost etc
@Athenaikos "Modern finance" you say! Incredible. This is it we write that word on any building in europe and we are out of harm's way. How about the mediterranean countries cut their wages until they get paid what their work is worth and not five times more like nowadays. The only alternative would be to expell too fragile economies from the eurozone.
@BugMagnet No disagreements here,if I were the Greek Prime Minister I would have tried to reach a compromise with the banks-a haircut,lower interest rates,longer maturities and so on.I don't think a controlled default would be disastrous for the Greek households,if Greece were to leave the currency union,now *that* would be suicide. But the Greeks are in no position to take matters into their hands and the Brussels never make any brave decisions after their long deliberations.
@Nubx8 You forgot something: The marshall plan financed the reconstruction of germany but the german people did all the reconstructing. There is not the slightest sign of the necessary will in the greek public. Instead of pulling together they just keep striking for ridiculously faint reasons. And the OECD recently published a report stating that the entire Greek state is utterly unorganised and utterly incapable of managing itself.
I don't understand what she says, only like one word in 50 :( My German is so poor... But if you say it's total crap, I am also glad I don't understand Merkel
@NorceCodine You nailed it. Merkel defends german interests above anything else. She doesn´t want eurobonds or the ECB as a lender for states. But she doesn´t oppose the ECB giving 500 billion euros to private banks at 1%... so they can buy government bonds at 5%: a disgusting business. Giving billions to banks is ok... maybe because german banks are leveraged 32 to 1 (Lehman Brothers was leveraged 31 to 1 when collapsed).
@JeanMaria93 Growth is indeed essential. But in order to achieve growth the structural circumstances have to be fitting, which they arent. There is no sense at all in fueling a failing system with more money and thus prolonging the failure. The austerity pack on the other hand is a misguided policy from the time when the european leaders fooled each other into thinking that reforms were not necessary and now they are forced to do does reforms at break neck speed (in germany aswell)
@Athenaikos Really world class.... with an innovation count per head and year of just 1/100 of the german value.. just like egypt or pakistan. And our industrial capacity allows us to negociate head to head with south Korea, the USA or russia, while greece can barely do anything except pleading by now. And as soon as the efsf is drained you will realize that everyone has to pay back their dept at some point.then you may chose between hard work and starvation while we keep flourishing
@Athenaikos We got nothing for free. And it certainly wasn't the good will of the US that made them support the rebuilding of germany in this fashion. They wanted us to help them contain communism and so we did. And you talk about free loading? A french bank conducted a study on companies from different countries as to how reliable they pay their bills. German and swiss companies ranked first place while greek ones rated lower than egypt, north korea and just above somalia....
@Athenaikos Well what is the all mighty all for free solution then? how does it copme that you aren't minister of finance? If you are such a genius? Perhaps you are just one of those people who are unable of simple mathematics and thus think that eurobonds or turning the ecb from a credible bank to a joke like the fed would be a solution instead of an additional problem. I read economical newspapers on a daily basis and none of them was foolish enough to claim knowing THE solution.
@Athenaikos The US were paid with gold and political sacrifices. But what do you know about dept except for piling them sky high? And as for lying... which country included prostitution and drug crime in it's gpd calculation in order to enter the eurozone mine or yours? (a small hint, the french begged mine to join) And which country proclaimed to have farmland of twice its entire size to get more subventions from brussels? (german subvention saldo -15% greek one +120)
@Athenaikos I'd like you , honorable self declared master of modern economics, to enlighten us all. If you think germany could bear eurobonds without significant disadvantages, you should start with reading some news. Every single study on the subject showed that eurobonds (mediterranean morony) would cost us at least (!) 48 bn € pa.
@Athenaikos Since you are neither a german official nor member of the personnel od the polytechnical university of Darmstadt you don't have the least authority over me. This comment becomes even more ridiculous when you think about that the only reason That there is still electricity in your country is that in country most and not just some people actually pay taxes or that we did not indulge ourselves in socialist daydreams relying on other to pay our bills.
@Athenaikos We should stick to english in order to give google translator a rest. Well What should we do? According to you putting the best 30% of european economy under the command of the very worst 2% would be a solution. Well no! This won't work and this won't happen. And for building toasters: German engineers have created some of the most important inventions of human history such as the car or the computer. Well how many world class companies are located in greece? ah yes NONE
Sy dojn jap kredits sy mis kthi imerr 500 miljard ewra 392..200 numri kthihrn 500 miljard ewra kredit bini sloveni hervack 1000 bolldezhera 2000 kamijona 4000 bossen vet lahen kreditin se slovrmis hervacka kan mua selim krdedit banka jam
Kyshte many swiss shlun 100miljard frag shum falimideri astranahuti gjiren ezez dergoj 100miljard frag selim emini shum falimideri ka fala swiis selim flm shum😊
![Twenty One Pilots - The Line (from Arcane Season 2) [Official Audio]](http://i.ytimg.com/vi/XCz7WUotXs8/mqdefault.jpg)
@JeanMaria93 I would chose a similar method. Use the efsf to buy time and while it lasts demand the banks to increase their capital quota until they can survive a full default and then let it take place. Another important reform would be to divide investment banking and saving/credit banks in order to prevent people from losing all their savings due to other peoples' speculations. This would stable our financial system and thus the entire society.
@neos9898 around 100 million native speakers and around 200 million total speakers, it is in fact the most widely-spoken first language in the European Union. But i agree, english subtitles are needed.
@Highwaycrazy But for the eurozone this won't work out. The USA have plenty of resources for themselves and they don't export much except financial services. Countries like germany or austria and the netherlands need a strong currency in order to buy resources we don't have, but need to keep our industry working. The best economic solution would be to seperate the eurozone (like a hard euro for the north and an olive euro for the south), but the politicians dont want that.
thankyou for the paper
I'm glad to saying that's Councelour of Germany Republic its good strong women who fighting for better future in Germany.
@BugMagnet Show some empathy,if Greece weren't serious about enacting painful reforms,how exactly did it manage to trim its deficit by 7% in two years?By building colossal industries?The Euro Plus Monitor stated that the main reason why Greece was unable to reach its budget targets is because the troika enforced more austerity to compensate for loss of revenue,beyond the fact that the tax code has become too convoluted.We need pro-growth measures,not tax hikes.
come on we need subtitles
good speech
@NorceCodine would eurobonds be in the interest of great britain? no. So Britain remains as the isolated nation with its own interest in the EU (maybe also CZ, but not in case of the financial tax, but the fiscal union one)
@Highwaycrazy Well austerity has to be accompanied by structural reforms. The british and americans tryed to flood their markets with money in order to grow their way out, they failed. They have higher unemployment, lower growth and less competitiveness.
Forcing a central bank to buy foul dept always leads to moral hazard and results not only in inflation but also in a loss of competitiveness.
Structural reforms on the other hand gain the trust of private investors, reduce cost etc
She did exactly what any politician in her position would have done. Except that she has the patience to see it work in the end.
@Athenaikos "Modern finance" you say! Incredible. This is it we write that word on any building in europe and we are out of harm's way.
How about the mediterranean countries cut their wages until they get paid what their work is worth and not five times more like nowadays.
The only alternative would be to expell too fragile economies from the eurozone.
was is das! where is english subtitles :(
@BugMagnet No disagreements here,if I were the Greek Prime Minister I would have tried to reach a compromise with the banks-a haircut,lower interest rates,longer maturities and so on.I don't think a controlled default would be disastrous for the Greek households,if Greece were to leave the currency union,now *that* would be suicide.
But the Greeks are in no position to take matters into their hands and the Brussels never make any brave decisions after their long deliberations.
@Nubx8 You forgot something: The marshall plan financed the reconstruction of germany but the german people did all the reconstructing. There is not the slightest sign of the necessary will in the greek public. Instead of pulling together they just keep striking for ridiculously faint reasons. And the OECD recently published a report stating that the entire Greek state is utterly unorganised and utterly incapable of managing itself.
I don't understand what she says, only like one word in 50 :( My German is so poor... But if you say it's total crap, I am also glad I don't understand Merkel
👍🏻👍🏻💙💙💙💙💙💙
@NorceCodine You nailed it. Merkel defends german interests above anything else. She doesn´t want eurobonds or the ECB as a lender for states. But she doesn´t oppose the ECB giving 500 billion euros to private banks at 1%... so they can buy government bonds at 5%: a disgusting business. Giving billions to banks is ok... maybe because german banks are leveraged 32 to 1 (Lehman Brothers was leveraged 31 to 1 when collapsed).
And then Germany took Europe without even firing a shot...
@JeanMaria93 Growth is indeed essential. But in order to achieve growth the structural circumstances have to be fitting, which they arent. There is no sense at all in fueling a failing system with more money and thus prolonging the failure.
The austerity pack on the other hand is a misguided policy from the time when the european leaders fooled each other into thinking that reforms were not necessary and now they are forced to do does reforms at break neck speed (in germany aswell)
@Athenaikos Really world class.... with an innovation count per head and year of just 1/100 of the german value.. just like egypt or pakistan. And our industrial capacity allows us to negociate head to head with south Korea, the USA or russia, while greece can barely do anything except pleading by now.
And as soon as the efsf is drained you will realize that everyone has to pay back their dept at some point.then you may chose between hard work and starvation while we keep flourishing
@Athenaikos We got nothing for free. And it certainly wasn't the good will of the US that made them support the rebuilding of germany in this fashion. They wanted us to help them contain communism and so we did. And you talk about free loading? A french bank conducted a study on companies from different countries as to how reliable they pay their bills. German and swiss companies ranked first place while greek ones rated lower than egypt, north korea and just above somalia....
you should really put subs in your videos who speaks german out of germany anyway.
Dinar yugslavia boll eka madh 20000 dinar many papiren
118.000.000 mi shofin bank mua 118.000.000 tin gold ikam pagujtem itali gold 19000 frag kilon
@Athenaikos Well what is the all mighty all for free solution then?
how does it copme that you aren't minister of finance? If you are such a genius?
Perhaps you are just one of those people who are unable of simple mathematics and thus think that eurobonds or turning the ecb from a credible bank to a joke like the fed would be a solution instead of an additional problem.
I read economical newspapers on a daily basis and none of them was foolish enough to claim knowing THE solution.
@Athenaikos The US were paid with gold and political sacrifices.
But what do you know about dept except for piling them sky high?
And as for lying... which country included prostitution and drug crime in it's gpd calculation in order to enter the eurozone mine or yours? (a small hint, the french begged mine to join) And which country proclaimed to have farmland of twice its entire size to get more subventions from brussels? (german subvention saldo -15% greek one +120)
@Athenaikos I'd like you , honorable self declared master of modern economics, to enlighten us all.
If you think germany could bear eurobonds without significant disadvantages, you should start with reading some news. Every single study on the subject showed that eurobonds (mediterranean morony) would cost us at least (!) 48 bn € pa.
4000 markenn opaa fikenn ajne mann kosti germanya
@Athenaikos Since you are neither a german official nor member of the personnel od the polytechnical university of Darmstadt you don't have the least authority over me.
This comment becomes even more ridiculous when you think about that the only reason That there is still electricity in your country is that in country most and not just some people actually pay taxes or that we did not indulge ourselves in socialist daydreams relying on other to pay our bills.
@Athenaikos We should stick to english in order to give google translator a rest.
Well What should we do? According to you putting the best 30% of european economy under the command of the very worst 2% would be a solution. Well no! This won't work and this won't happen.
And for building toasters: German engineers have created some of the most important inventions of human history such as the car or the computer. Well how many world class companies are located in greece? ah yes NONE
Tezja plak boll yugslavia boll madh grosen numer 392 miljard dinar 392 miljard ewra zhdo dyt austria spania 45 miljard ewra 200 dinar
18 numra iksm bankes 2 opa roten digitron 92 miljard dinar opa papa 300 miljard dinar gjeoit qtrin murit pleqrijes ekina 200 dinar kto 200 dinarr marr 200 miljard ewra dollar kush bot at vend yugslavia slovenia vjen 200 dinar rroga 6000 ewra monstrn peszijin 3800 ewra socijalne 1260 ewra monaten slivenia hervacka rumania bulgaria boll ekina swiss ekyshte 96 frag numer austrija 45 ewra spanya 40 ewra morin 40miljard ewra dyte kto 200 dinar morin 200 miljard ewra zhdo dyt skina faj
Sy dojn jap kredits sy mis kthi imerr 500 miljard ewra 392..200 numri kthihrn 500 miljard ewra kredit bini sloveni hervack 1000 bolldezhera 2000 kamijona 4000 bossen vet lahen kreditin se slovrmis hervacka kan mua selim krdedit banka jam
Kyshte many swiss shlun 100miljard frag shum falimideri astranahuti gjiren ezez dergoj 100miljard frag selim emini shum falimideri ka fala swiis selim flm shum😊
Syt mi bysh 1.000.000 frag 1 avijin luftarak su75 su50 ty bina 10000 frag 6000 ewra qamet tash skina fajin se ki blehen mafijeve 200.000.000 ewra mig21 mug19 mig15 mug17 swiss austruja belgijum
Spi derzoni many gold 100.000.000 tons haxhi hajdukit haxhi sabri ramadanit
Yugslavia macedonia 2 peszijona ikam njane eka oren pemnt dygitrin 92 miljard dina nisoj sy 92 miljard ewra shenova slovenia hervacka pjes trupit jan yugslav qetren ekam 118.000.000 miljon dinar normal peszijon gjith yugslavia albania turkye amerike russia egypt saudia iraq afganistan 960000 dinar 40000 dinar 1.000.000 dinar normal peszijon
Selim emini kumanova jep slovenis hervacken 392 miljard dinsr japmi ewropes kredita
Muje vlladinir putin selim emini 30 avijina luftrak su75 su50 koshtijn 10.000.000 frag syt mirni mashum 120 copa koshtijn 2.000.000 frag 1 copa syt mashum 250 1.000.000 frag kushtin 1200 copa 10000 frag kushtijn
Selim emini poti shkrujna 10000 frag mujt austrija 6000 ewra mujt thash shloni sloveni hervacka numer opa ekam numri 10000 frag dinar slovenia hervack mrri 890 ewra socijaln pomoç