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Will the European Union Survive?

 
 
hawkeye10
 
  1  
Reply Sat 30 Mar, 2013 11:53 am
the EU is sanctioning the taking of 80% of funds in accounts at one Cyrus bank and 60% in another.....this is ******* nuts! the last thing governments should be doing now is cultivating even more lack of trustworthiness of government.
Walter Hinteler
 
  1  
Reply Sat 30 Mar, 2013 12:13 pm
@hawkeye10,
hawkeye10 wrote:

the EU is sanctioning the taking of 80% of funds in accounts at one Cyrus bank and 60% in another.....this is ******* nuts! the last thing governments should be doing now is cultivating even more lack of trustworthiness of government.
That's obviously not true.

It has been one of the conditions of the €10 billion bailout from the International Monetary Fund and the European Central Bank.
And it's about the Laiki Bank, where savers will face a raid 60 per cent of savings over €100,000.
Quote:
Laiki's assets will now be turned over to Bank of Cyprus. At Bank of Cyprus, about 22.5 percent of deposits over €100,000 will attract no interest. The remaining 40 percent will continue to attract interest, but will not be repaid unless the bank does well.
Those with deposits under €100,000 will continue to be protected under the state's deposit guarantee.


However, all this has little to do with the EU.
georgeob1
 
  1  
Reply Sat 30 Mar, 2013 03:48 pm
@Walter Hinteler,
Walter Hinteler wrote:

However, all this has little to do with the EU.


That's not entirely true. I agree that Cypres operated an extraordinarily loose, and, for its size, large banking system that appears to have attracted a great deal of Russian money, some of it hot. However a central cause of its colapse is exposure to Greek Bonds, and that was surely an EU problem. The implied economic strength and fiscal prudence of the major EU states protected other member states that posessed neither - and Greece was the prime example. The collective EU failure to enforce or at least replace the original stability pact was the core problem.
0 Replies
 
georgeob1
 
  2  
Reply Sat 22 Apr, 2017 02:19 pm
This thread has been inactive for the past four years - a period which has seen significant political change across the world and in the Western World in particular.

The internationalist values, which had previously dominated European politics, and to a slightly lesser extent, those of the United States, are now under serious stress in both. Trump has won the presidency in the US with a campaign centered on U.S. national interests and better control of our borders and immigration. The UK has voted for Brexit in a close election which was dominated by similar issues . Dissident political movements have arisen in France, Belgium and the Netherlands advocating similar things, and public concerns about similar issues are growing in Germany, Italy and the Scandinavian countries as well.
The first of two rounds in the French Presidential election occurs tomorrow and The FN party candidate, Marie Le Pen has long been expected to survive this round and become be a finalist in the next, two candidate, final vote in a month or so. However recent polls show some convergence in the results of the current top four candidates and a far from clear picture of which two will win in a largely four way race involving two far left, one far right (Le Pen) and one center right candidate. It has become harder now to forecast the outcome. However it is noteworthy that a candidate, certainly opposed to further expansion of EU powers in France and possibly inclined to consider severing France's ties with the union is among the major contenders

In any event the formerly dominant globalist political regimes in both Europe and North America are being increasingly confronted with political opposition from more traditional and nationalistic motivated oppositions. How all this will play out is still unclear. However in the EU much of this is political tumult is focused on opposition to the forces of "ever closer union" in the increasingly bureaucratic, judicial and frankly undemocratic government of the EU. All this of operates in conjunction (or at least in parallel) with the growing cultural and population threats from very unstable regions in North Africa and the Mid East. The EU needs population and economic growth to sustain its social welfare systems, but it has so far been chronically unable to achieve both on its own and to effectively assimilate the , often culturally hostile, immigrants who are increasingly needed to do it.





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