United states of Europe perhaps

newlad



Joined: 02/03/2008
Posts: 7819

Message Posted:
15/11/2011 11:22

Could we be about to come together with our friends from across the pond.Some leading economists seem to be suggesting this.The U.S. for all its political problems,seems to be a functioning political entity,hence last week as Italy was in the depths of its own sovereign crisis,Jefferson county Alabama,filed for the largest bankruptcy in the history of the United states.



As Alabama is protected by a federal government,which has its own treasury and central bank.This allows it to print its own money,and the markets didnt even bat an eye lid.Havent we as a country tried this before to kick start the economy.Surely someone has to pay it back,on another note though.If it did become the United states of Europe,wouldnt this open the door for Turkey,



Paul.

newscoop


Joined: 23/12/2007
Posts: 2197

Message Posted:
15/11/2011 12:13

A bit simplistic this summary;



All over the states towns, cities, and counties, are bankrupt with crippling pension commitments they cannot even dream of financing. Every state can levy it's own taxes and has it's own central bank.



California is in even worse shape than Italy to name but one state, the old rustbhelt states are deep in the mire as well.

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
15/11/2011 12:30

Newlad



Whats the point. They already have a structure which cost a fortune to set up. Its called the EU.



Kick out a few of the financially weaker members, and you are away.



If the financially weaker nations form the own club EC2 when they individually get their financial acts together



they could gravitate back up to EU membership. Two tier.



Whatever they do in Europe , it will be dominated by Germany.



wyn

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
15/11/2011 12:40

Wyn. I can see that working as well.

ilovecyprus


Joined: 08/05/2007
Posts: 2880

Message Posted:
15/11/2011 12:46

msge 1



Paul, the Americans believe that a state should go bankrupt if it gets in to difficulty. In the 70's New York nearly went bankrupt and it did not get any help from the government. Creditors charge high rates of interest to a state if they think it is likely to get in to trouble and if it does the creditors know they will lose their money. It forces states to be prudent about how they run their finances. The government does still money from rich to poor states.



Germany doesn't want to buy up Italys debt, one because it is scared of hyperinflation and secondly it wants Italy to get its house in order, which is the same thinking as the Americans. It also wants to have an integrated political and system.



There is one big problem, which the economists just don't get, which is Americans see themselves as Americans first and foremost, most Europeans don't see themselves as European firstly. Joe publics loyalty is to their nation state, so sharing

ilovecyprus


Joined: 08/05/2007
Posts: 2880

Message Posted:
15/11/2011 12:51

correction to msge 5



"The government does still move money from rich to poor states."



Continued



the burden is a problem when you think you will be disadvantaged, and another nation state is gaining at your expense.



I see that Germanys cost of borrowing has gone down to 1.8%. This is estimated to save them 9 billion pounds.

steve.sewell


Joined: 07/11/2011
Posts: 277

Message Posted:
15/11/2011 12:52

Why is everyone always ranting on about turkey, two thirds of it are in asia, its a asian country. Its not wanted in europe it does not belong in europe. The euro will sought itself out over time and so will cyprus. If your all so obsessed with turkey leave cyprus and move there. Its back to the same biased rubbish about how people want things to be rather than the reality.

newlad



Joined: 02/03/2008
Posts: 7819

Message Posted:
15/11/2011 13:17

Wyn,



Re mess 3 "kick out a few of the financially weaker members and you are away".So boot out,Greece,Ireland,Portugal Spain,Italy,and start from there.Is this what you are suggesting.As for Germany dominating,they (Germany) would never boss the United states of America,would they ?



Paul.

newlad



Joined: 02/03/2008
Posts: 7819

Message Posted:
15/11/2011 13:19

Well said Steve,did you fintd that Manc you were looking for,



Paul.

newlad



Joined: 02/03/2008
Posts: 7819

Message Posted:
15/11/2011 13:23

Hi Mark,



Take your point,i see myself as English first and foremost.I wonder if Edward Heath saw himself as a European.Bloody E.E.C.,we have been getting robbed blind,since we joined,



Paul.

wynyardman



Joined: 15/12/2007
Posts: 4580

Message Posted:
15/11/2011 13:27

newlad Msg 8



My way would make The Bubbles, squeak!



That would delight The Turkish.



wyn

newlad



Joined: 02/03/2008
Posts: 7819

Message Posted:
15/11/2011 15:03

Wyn,



I think they have beeb squeaking for a while now,



Paul.