Opinion – Reform alone is no solution for the eurozone – Martin Wolf – FT.com – John Gelmini

Fiscal policy

Fiscal policy (Photo credit: Wikipedia)

Dr Alf raises interesting points.

Probably what will happen is a slight loosening of German policy on austerity, more printing of money by everyone else, especially France and great proclamations about how well the EU is doing and more blaming of the present debacle on “Global economic conditions”.

The day of reckoning is coming but not just yet.

The “fiddlers” watching the reincarnation of the “Holy Roman Empire ” have a few more tunes left!

John Gelmini

How to pull Italy and Spain back from the edge | The A-List | Must-read views on today’s top news stories – FT.com – FT.com

dralfoldman:

Looking back, this is worth a read. It’s one of our my most popular blogs.

Originally posted on Dr Alf's Blog:

DAVOS/SWITZERLAND, 27JAN10 - George Soros, Cha...

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This is a really interesting article from George Soros. Check it out!

How to pull Italy and Spain back from the edge | The A-List | Must-read views on today’s top news stories – FT.com – FT.com.

I remember when George Soros brought Sterling to its knees. I am not sure of the best metaphor here but “poacher turned gamekeeper” comes to mind.

As George Soros himself admits, his proposal is complicated but will work. The questions that remains unanswered are:

  1. If George Soros can come up with a robust proposal to redress Spain & Italy’s precarious finances, why can’t the troyka of the ECB, EC & the IMF?
  2. Is Germany creating roadblocks to effectively redressing Spain & Italy’s finances?
  3. If Germany is the barrier, what needs to be done to remove the barrier?  

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