4 ms·

It's time to inflict massive pain for the south. Can't spend any more decades wasting money.

by fzfaa 4y ago

odshoifsdhfs 4y ago
Thank you, we appreciate it. Specially when just a few weeks ago Central Europe wanted the south to be solitary with the rest of Europe and save gas, gas they don't get from Russia and always paid more for. This is why the EU is a stupid idea. When it is the south, they should suffer, when it is Central Europe, everyone should come together and sing kumbaya
- jacquesm 4y ago
  The EU is a great idea, implemented in a way that leaves a lot to be desired. It certainly is a lot better than what came before, the economic gains are felt everywhere but not equally so. That's the thing that should change, unfortunately such change takes time.
- iSnow 4y ago
  Not so fast. The ECB should have raised rates like the Fed, but didn't to accommodate the Southern EMU members. If what you are claiming was true, the ECB would have just gone ahead and leave the south to fend for itself. Instead their policy is adding fuel to the inflation inferno to protect the south.
jacquesm 4y ago
They're not wasting money. They simply don't have the massive wealth of the North to jump off from or to cushion blows. On top of that a large quantity of what they do earn is spent on interest payments to the North.
- fzfaa 4y ago
  I am from the south. We are wasting money and producing too little. We don't have the massive wealth of the north because we are culturally incapable of behaving some other way.
  - MomoXenosaga 4y ago
    It's like the US: young people move from poor states to rich ones. Nobody in America ever talks about the basket case that is Alabama. People have been moving into New York and California for a hundred years. Anecdotal: My dentist was from Rumenia. I'm sure they need dentists too but he can make more money in the Netherlands.
    - pjmlp 4y ago
      Likewise the doctors in Netherlands move to Denmark, and the circle goes on.
      - s1artibartfast 4y ago
        Not a circle, a ladder
  - rmvt 4y ago
    i'm sorry but this is plain ignorance. chalking up the performance of a collection of european economies to just "it's cultural" is being, at best, ignorant. is the cultural problem an important factor? as someone who's also from the south, yes, i think it is. is it the only one (that matters)? no. the eu (and the euro) works mainly to provide a cheap-access market for the stronger economies to a series of other countries. it's extremely difficult for poorer economies to compete with the stronger ones (due to regulations, size and how those two interplay). it's even more difficult for those economies to provide the same quality of life (i.e. higher salaries, same level of social care, etc.) when they themselves don't have full control of their economy/market.
  - anton96 4y ago
    That's a very generalist statement that doesn't explain much. That is totally to forgot that Italy has been cost reduction/ austerity since the 90's. Precisely when it's started to do that, its economy stalled. Spain had its debt going from 30% to 70% after the 2008 crisis.
  - anton96 4y ago
- mamonster 4y ago
  They don't have this wealth because when they were given access to interest rates much lower than what they would have under independent central banks / currencies they went and spent it on consumer goods instead of investing into capital.
  - WastingMyTime89 4y ago
    They don’t have this wealth because their ability to export is severely hampered by their money in order to shield the German from the consequences of their stupid working laws and boost Germany unsustainable trade balance. I really wish the south acted like the north is acting now when Germany was considered the sick part of Europe in the 90s. We would have avoided so much trouble.
cloutchaser 4y ago
Ironically they've already been in pain since 2008. But within the eurozone they can't escape the trap of having a strong currency (relative to themselves), combined with a terrible economy with massive debt. The euro just cannot work in the long run. The sooner people up top admit this the better for 300m europeans. But they will never admit defeat.
pjmlp 4y ago
If you want more "Brexits" that is certainly the way to influence public opinion and the growing national parties.

It's time to inflict massive pain for the south. Can't spend any more decades wasting money.

by fzfaa 4y ago

It's time to inflict massive pain for the south. Can't spend any more decades wasting money.

Thank you, we appreciate it. Specially when just a few weeks ago Central Europe wanted the south to be solitary with the rest of Europe and save gas, gas they don't get from Russia and always paid more for. This is why the EU is a stupid idea. When it is the south, they should suffer, when it is Central Europe, everyone should come together and sing kumbaya

jacquesm 4y ago
The EU is a great idea, implemented in a way that leaves a lot to be desired. It certainly is a lot better than what came before, the economic gains are felt everywhere but not equally so. That's the thing that should change, unfortunately such change takes time.
iSnow 4y ago
Not so fast. The ECB should have raised rates like the Fed, but didn't to accommodate the Southern EMU members. If what you are claiming was true, the ECB would have just gone ahead and leave the south to fend for itself. Instead their policy is adding fuel to the inflation inferno to protect the south.

jacquesm 4y ago

They're not wasting money. They simply don't have the massive wealth of the North to jump off from or to cushion blows. On top of that a large quantity of what they do earn is spent on interest payments to the North.

fzfaa 4y ago
I am from the south. We are wasting money and producing too little. We don't have the massive wealth of the north because we are culturally incapable of behaving some other way.
- MomoXenosaga 4y ago
  It's like the US: young people move from poor states to rich ones. Nobody in America ever talks about the basket case that is Alabama. People have been moving into New York and California for a hundred years. Anecdotal: My dentist was from Rumenia. I'm sure they need dentists too but he can make more money in the Netherlands.
  - pjmlp 4y ago
    Likewise the doctors in Netherlands move to Denmark, and the circle goes on.
    - s1artibartfast 4y ago
      Not a circle, a ladder
- rmvt 4y ago
  i'm sorry but this is plain ignorance. chalking up the performance of a collection of european economies to just "it's cultural" is being, at best, ignorant. is the cultural problem an important factor? as someone who's also from the south, yes, i think it is. is it the only one (that matters)? no. the eu (and the euro) works mainly to provide a cheap-access market for the stronger economies to a series of other countries. it's extremely difficult for poorer economies to compete with the stronger ones (due to regulations, size and how those two interplay). it's even more difficult for those economies to provide the same quality of life (i.e. higher salaries, same level of social care, etc.) when they themselves don't have full control of their economy/market.
- anton96 4y ago
  That's a very generalist statement that doesn't explain much. That is totally to forgot that Italy has been cost reduction/ austerity since the 90's. Precisely when it's started to do that, its economy stalled. Spain had its debt going from 30% to 70% after the 2008 crisis.
- anton96 4y ago
mamonster 4y ago
They don't have this wealth because when they were given access to interest rates much lower than what they would have under independent central banks / currencies they went and spent it on consumer goods instead of investing into capital.
- WastingMyTime89 4y ago
  They don’t have this wealth because their ability to export is severely hampered by their money in order to shield the German from the consequences of their stupid working laws and boost Germany unsustainable trade balance. I really wish the south acted like the north is acting now when Germany was considered the sick part of Europe in the 90s. We would have avoided so much trouble.

cloutchaser 4y ago

Ironically they've already been in pain since 2008. But within the eurozone they can't escape the trap of having a strong currency (relative to themselves), combined with a terrible economy with massive debt. The euro just cannot work in the long run. The sooner people up top admit this the better for 300m europeans. But they will never admit defeat.

pjmlp 4y ago

If you want more "Brexits" that is certainly the way to influence public opinion and the growing national parties.