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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Steve Lokness who wrote (268102)	1/26/2015 12:04:27 PM
From: Wharf Rat	Read Replies (2) \| Respond to of 541001

"Why should the strong economies in the world continually bail out those countries unwilling or unable to to bring their own house in order? " Enlighted self-interest to prevent failed states? Instability has a tendency to bleed over borders. Just a guess.We wouldn't want Mexico to be totally taken over by gangs.

To: Steve Lokness who wrote (268102)	1/26/2015 12:10:13 PM
From: JohnM	Read Replies (1) \| Respond to of 541001

I gather Krugman's argument is that the culprit was the loss of state control over its own currency evaluations. Had a financial union but not a political union. May well lead to a disintegration of the euro as a currency standard.

To: Steve Lokness who wrote (268102)	1/26/2015 1:51:00 PM
From: Sam	Respond to of 541001

Germany and the Switzerland and then Denmark have one by one said we are not interesting in propping up failed economies. Yeah, the Germans expect other countries to bail out their banks after their banks went in and were prime culprits in helping to bring down the economies of those other countries. They are the ultimate hypocrites, as Michael Lewis pointed out back in 2011. It’s the Economy, Dummkopf! With Greece and Ireland in economic shreds, while Portugal, Spain, and perhaps even Italy head south, only one nation can save Europe from financial Armageddon: a highly reluctant Germany. The ironies—like the fact that bankers from Düsseldorf were the ultimate patsies in Wall Street’s con game—pile up quickly as Michael Lewis investigates German attitudes toward money, excrement, and the country’s Nazi past, all of which help explain its peculiar new status. By Michael Lewis vanityfair.com