Eurozone crisis live: Unemployment rate hits new high of 11.1%

[KRAIT]

I know i know.......but the thing is....the place i was in USA, was the place for the American 1%.....so most of the students around me were snobbish you know...and when i met Americans outside, like general people, i found they were so proud that America is out there killing 'bad people' and waging wars as if it is some god.....and generally they were racist too...like especially at Asians.....just because Asians were getting top grades and not wasting their time partying at Frats.....

In Europe i haven't seen that......i feel people are jealous here as they think Asians take up their jobs, but they seem to be more in grip with reality.

Just my observations....

I think I may go way off-topic and we can talk about this on more appropriate thread....the highlighted part is the reason why Professor in US like Chinese and Indian students because they will work after college while US student will be at bar or partying.

The youth of US is exposed to media which glorifies US in War...look at their movies for instance, Black Hawk Down, and the dialogue of Eric Bana in the end telling how he think that its the war for the betterment of Somalia, and how they are Somalia's last hope.....Rambo, Apocalpyse Now, etc...you will get my point.

They are taught from the day one that US has the high moral ground to save innocent people around the world and no light is cast on the financial motives of US "interest". A movie against US wrong doing hardly succeed like The Green Zone questioning Iraq's WMD

Also the US keeps its citizens in a fantasy land where they are the prince charming saving caged princess in clutches of evil monster...You don't see that often in UK film industry.

Its all about these youth and the information world around them. Its a nation where serial killers are glorified, that now 50 serial killers are active in US at any given time. (FBI-Behavioral Analysis)....where teenage sex and mothers is accepted as norm. They have tv series based on it.

Its the reason, US jobs are going to Asian students, they have to send money back to home, they know how hard was them to get there and they are content with the money they get not to forget they are more hard-working. Same goes for European countries.

I can carry on but some other time.

I think you should start a thread on it.....

If it wasnt for germany , europe would have been in its knees at this time .
Wonder how with so many sanctions in the past germany has managed to stand apart with an economy so vast for a small country
Kaun si chakki ka aata khaate hai ye saale ?

I have utmost respect for Germany. They were brought to dirt after WW-1 then they rebuilt themselves, then sorry period of Hitler, again brought to dirt after WW-2, they rebuilt themselves AGAIN. Its the country where people think about solution for problem rather being a problem (sorry to that but they saw Jews as problem and thought killing them is the solution).

 

[Donatello]

I think I may go way off-topic and we can talk about this on more appropriate thread....the highlighted part is the reason why Professor in US like Chinese and Indian students because they will work after college while US student will be at bar or partying.

The youth of US is exposed to media which glorifies US in War...look at their movies for instance, Black Hawk Down, and the dialogue of Eric Bana in the end telling how he think that its the war for the betterment of Somalia, and how they are Somalia's last hope.....Rambo, Apocalpyse Now, etc...you will get my point.

They are taught from the day one that US has the high moral ground to save innocent people around the world and no light is cast on the financial motives of US "interest". A movie against US wrong doing hardly succeed like The Green Zone questioning Iraq's WMD

Also the US keeps its citizens in a fantasy land where they are the prince charming saving caged princess in clutches of evil monster...You don't see that often in UK film industry.

Its all about these youth and the information world around them. Its a nation where serial killers are glorified, that now 50 serial killers are active in US at any given time. (FBI-Behavioral Analysis)....where teenage sex and mothers is accepted as norm. They have tv series based on it.

Its the reason, US jobs are going to Asian students, they have to send money back to home, they know how hard was them to get there and they are content with the money they get not to forget they are more hard-working. Same goes for European countries.

I can carry on but some other time.

I think you should start a thread on it.....

I have utmost respect for Germany. They were brought to dirt after WW-1 then they rebuilt themselves, then sorry period of Hitler, again brought to dirt after WW-2, they rebuilt themselves AGAIN. Its the country where people think about solution for problem rather being a problem (sorry to that but they saw Jews as problem and thought killing them is the solution).

Yea man....just to conclude on my part....see the thing is that Europe was the leading power of the world pre-world war II. And even uptill 1960s the Royal Navy of UK was the premier navy sailing the oceans of the world. US navy didn't pick up until 1970s and established a superiority. I have read history and i am living through it, during the most challenging times. I went to USA in 2008 when Lehman Brothers went bust and so did America. Now i am living in Europe and i see this euro crisis unfold. One thing people in the west need to realize is that nations have gone up and then gone down. Someone needs to remind Americans about that before it is too late, interesting times we live in, when Asian nations are rising up to the challenge.



Akash,

Not just Germany man, even France and Switzerland. Look at the size of Switzerland and they are such advanced economy with only 2.7% unemployment rate!! For comparison, US Federal reserve considers anything less than 4% unemployment rate as full employment. Swiss made the right choice by not joining Eurozone. You can keep your local economy healthy and at the same time be open to European markets. Britain needs to untangle itself from this EU mess and so does Germany. Germany has so much money.....why should their people pay for those lazy *** Greeks, Italians or Spanish?

 

[Hello_10]

helllo_10 what do u think about the germany breaking from the eu and i believe taking a course that is in interest of both Russia and japan

tell me, how many of a society share their wealth with others on the name of religion/race/cast/relation? none or very less. as, someone earn for his own family only, not for the whole society . how many of us even bear the expanses of all the relatives????? then why would Germany share its wealth with others on the name of being Europeans? while German itself have serious racial superiority complex?

it may take 1 to 5 years but Germany is destined to come out of EU. and it will be the time when the whole Europe will be in between two sides, one side Germany and one side Russia, with slaves in between. Greece is just a start and then one by one all the Italy, Spain, Britain etc will fall in this list. future fate of 'non-german' people will be something like as below, they may hardly try to avoid the worse to an extent in coming future, but they can't maintain their current economic state in anyway ............

18 May, 2012, Reuters

ATHENS/LONDON: In Athens, the homeless are on the streets in growing numbers, soup kitchens feed twice as many people as a year ago, and the poor are diving into garbage bins in search of scrap they can sell.

Greece is close to breaking point as it struggles with austerity targets set by creditors, but this is just a foretaste of the nightmare of unrest, hunger and even anarchy that could engulf the debt-crippled nation if it is forced out of the euro.

If the exact economic impact of such a move is hard to nail down - newly issued drachmas devalued by up to 70 percent, runaway inflation, a banking meltdown, a collapse in trade - the implications for ordinary Greeks crushed by the debt crisis are even harder to predict.

Without international bailout cash, salaries and pensions would go unpaid and violence, political extremism and uncontrolled emigration could quickly follow.

After voting inconclusively for parties that opposed foreign-imposed austerity, including the neo-Nazi Golden Dawn, Greeks head to the polls again in a month's time. This election is being portrayed internationally as a referendum on the single currency, even if Greeks do not yet see it that way.

A Greek exit from the 17-nation euro zone, or "Grexit" as some economists have called the once unthinkable eventuality, risks turning the nation into what would be close to a failed state on the edge of the European Union, one of the most prosperous societies the world has ever known.

Greece imports 40 percent of the food it consumes, nearly all of its oil and natural gas and much of its medicine. It has long been clear to some commentators that there could be trouble ahead.

Confronted with post-exit turmoil, foreign suppliers would simply put up the shutters until the situation becomes calmer, leading to acute shortages of basic commodities, which could fuel serious civil unrest, according to Bank of Greece Governor George Provopoulos.

Even if Greece did manage to import limited amounts of food and other basics, they would be cripplingly expensive.

Provopoulos warned as long ago as December that a return to the drachma would be "real hell", with Greeks forced to resort to barter during the transition period between the two currencies, "trading a kilo of olive oil for three kilos of flour".


"NIGHTMARE SCENARIO"

"There will be shortages in basic staples. Without fuel, the army and the police would not be able to move their vehicles. After a long period, things will return to a better balance. But during the first transitional phase we would be experiencing a nightmare scenario," Provopoulos said.

A former finance minister, Yiannos Papantoniou, saw trouble ahead nearly a year ago: "Greece would not be able to support 11 million people so there will be huge emigration flows," he told Reuters Insider television last July. "Disruptions, social disruptions will come. I would say a regime of total anarchy."

Last year 23,800 Greeks emigrated to Germany alone, 90 percent more than the previous year , German data show and Greeks are queuing up to learn German.

Most economists agree the austerity measures Greece is labouring under offer it little hope of recovery near term, and some argue that if it leaves the euro, it could export its way back to health on the back of a vastly devalued currency.

Nightmare foretold if Greece heads for euro exit | Reuters

 

[Hello_10]

Akash,

Not just Germany man, even France and Switzerland. Look at the size of Switzerland and they are such advanced economy with only 2.7% unemployment rate!! For comparison, US Federal reserve considers anything less than 4% unemployment rate as full employment. Swiss made the right choice by not joining Eurozone. You can keep your local economy healthy and at the same time be open to European markets. Britain needs to untangle itself from this EU mess and so does Germany. Germany has so much money.....why should their people pay for those lazy *** Greeks, Italians or Spanish?

just to tell you, its the Britain who is threatened the most of EU's break down and they are using full force of US to keep EU united somehow, which Germany doesn't want .

Britian is full of migrants and future of their economy will be the worse, if EU breaks down. the highest foreign debt/GDP, the economy already in recession and its per capita income is now over 7% less than its peak of early 2008? Britian has just kept its economic fall on the slow pace somehow but any type of sudden collapse of EU will eventually 'finish' Britain. have an idea of these things from my other thread as below:
http://www.defence.pk/forums/world-affairs/191836-uk-pm-paves-way-eu-referendum-2.html#post3194807

 

[Hello_10]

Nationwide Spanish protests turn violent
20 July, 2012

Nationwide Spanish protests turn violent (PHOTOS, VIDEO) — RT

Spanish police have clashed with protesters who marched against the latest batch of austerity measures. Over a million public employees, trade union members and fed-up citizens have taken to the streets in over 80 Spanish cities.

*Violence erupted in Madrid around midnight. Police used rubber bullets and tear gas to disperse the crowd as it tried to reach the congress building. In some more urban areas, activists set garbage containers on fire and tried to block police vehicle access. No injuries or arrests have been reported.

In Barcelona, similar scenes were reported. About a dozen protesters were arrested there, outside the local parliament building.

*Demonstrators carried flags and banners decorated with scissors, symbolizing the country's harsh spending cuts. The streets of Madrid were paralyzed by the boundless crowds of people.

The protests were organized by unions, who have been outraged by the government’s new measures – which include an elimination of Christmas bonuses for civil servants.

Earlier Thursday, Spanish Parliament approved a new package of spending cuts and tax hikes aiming to save $80 billion in a bid to take a bite out of the budget deficit. Since the measure was announced last week, Spain has witnessed a series of daily demonstrations, some of which have erupted into violence.

Europe's fourth-largest economy also has the EU's highest unemployment rate. About a quarter of working-age Spaniards are unable to find work.

Meanwhile, Germany’s lower house approved a $122 billion rescue package for Spanish banks in a bid to help the country cope with "excessive" market fears and prevent the eurozone's debt crisis from spreading further.

Spain, Madrid: Riot policemen remain on a street of Madrid during a protest against the Spanish government's latest austerity measures, on July 19, 2012.

Spain, Madrid : people demonstrate against the Spanish government's latest austerity measures in the center of Madrid on July 19, 2012

Protesters march during a demonstration against government austerity measures, in central Valencia

Demonstrators fill Madrid's Puerta del Sol square during a protest against government austerity measures. (REUTERS / Sergio Perez)

Firefighters pose naked in front of a banner during a demonstration against government cuts inside their fire station in Mieres (REUTERS / Eloy Alonso

Civil servants shout slogans during a protest against government austerity measures in Madrid (REUTERS / Sergio Perez

Firemen participate in a protest against government austerity measures in Barcelona.(REUTERS / Albert Gea)

Spain, Madrid : Spanish actors Javier Bardem his brother Carlos Bardem and their mother Pilar Bardem demonstrate against the Spanish government's latest austerity measures in Madrid on July 19, 2012.

Nationwide Spanish protests turn violent (PHOTOS, VIDEO) — RT

 

[HÖLDERLIN]

then why would Germany share its wealth with others on the name of being Europeans? while German itself have serious racial superiority complex?

Because we rely on the eurozone exportwise. Furthermore there are several German enterprises and investments in other European countries which are of course linked to our economy. Also, a single German currency would be too strong and since we heavily rely on our exports, we have to keep trading exchange rates stable. The role of the paymaster has indeed selfish traits. We are also convinced to carry a historical role to maintain a more or less harmonic Europe to some extent. As for the serious racial superiority complex: Yeah.. no.

 

[Donatello]

Can any European members shed light on how things are...

I live in UK, and the employment and socio-economic scene is pretty bad here. How about in Germany, France, Italy, Denmark, Greece and perhaps Scandinavia?

 

[Audio]

Can any European members shed light on how things are...

I live in UK, and the employment and socio-economic scene is pretty bad here. How about in Germany, France, Italy, Denmark, Greece and perhaps Scandinavia?

I had to eat squirrels tonight from the nearby park.....

 

[Donatello]

I had to eat squirrels tonight from the nearby park.....

Man...i do feel sorry for you.....

 

[Audio]

Man...i do feel sorry for you.....

lol....

They never knew what hit 'em.......

 

[Hasbara Buster]

There are many Greeks who are homeless and are eating garbage, I saw it on a tv program.

 

[Hello_10]

Because we rely on the eurozone exportwise. Furthermore there are several German enterprises and investments in other European countries which are of course linked to our economy. Also, a single German currency would be too strong and since we heavily rely on our exports, we have to keep trading exchange rates stable. The role of the paymaster has indeed selfish traits. We are also convinced to carry a historical role to maintain a more or less harmonic Europe to some extent. As for the serious racial superiority complex: Yeah.. no.

you have the same worries as BRIC, who just bailed-out EU 2 months before with over $70bn. the same reason to lose European market of export, why India also contributed $10bn 2 months before. and also, dont BRIC including India also have high import from US/EU? India even has trade deficit with US+EU. but read my previous post, Ms Merkel clearly said that, "full debt sharing will occur on my dead body." it clearly means, you may hardly help others on low interest loan, but you will never like to feed them forever, with sharing their whole debt

read my last post #20, among all the cries in spain with nude protest to maintain food supply, there is only one good line in that news. that is, German halp (rescue package) of $122bil to Spain.....

and as far as I have read about Germany, they are always willing to invest in China than other EU members, check. Germany would hardly be willing to help Italy, Spain, Britain etc to an extent, but after a certain limit, Germany will prefer to kick whole EU/Euro, within 1 to 5 years from now, as per my prediction........

 

[Hello_10]

Because we rely on the eurozone exportwise. Furthermore there are several German enterprises and investments in other European countries which are of course linked to our economy. Also, a single German currency would be too strong and since we heavily rely on our exports, we have to keep trading exchange rates stable. The role of the paymaster has indeed selfish traits. We are also convinced to carry a historical role to maintain a more or less harmonic Europe to some extent. As for the serious racial superiority complex: Yeah.. no.

I dont know whether you are a German or not, or a Britain backed German, Im not sure . but read the news as below, I shared with my German friends about a year before, I was in Sydney that time......

Could Germany divorce Europe?

I get so many pamphlets sent to me by think-tanks that most of them go unread. However, one that I’m really glad to have picked up is a brilliant effort from the European Council on Foreign Relations called “The New German Question“. The ECFR is committed to greater European unity and that belief runs through the pamphlet. But it does not prevent the authors, Mark Leonard and Ulrike Guerot, from asking some really penetrating and difficult questions.

The pamphlet starts by observing that “from Greece to Libya, Germany has been seen as increasingly evasive, absent and unpredictable.” It notes – “To many it appears that an increasingly powerful and independent Federal Republic is renegotiating the two fundamental principles that have guided its foreign policy for decades: European integration and the western alliance.”

The authors see a number of factors behind this shift. German exasperation with the euro-crisis means that “many Germans now want to be saved from Europe” and “the reflexively pro-European discourse among Germany’s elite has disappeared.” Second, there has been a generational change. The current set of German leaders do not have personal memories of the war. And then there is the fact that – “Germany’s economic base has been shifting away from Europe towards the so-called BRICs.”

All of this means that Germany is tempted to “see itself as a viable power in a multipolar world, which in turn leads to the temptation of ‘going global alone’.” In other words, Germany is day-dreaming about divorcing the moth-eaten European Union and face the world on its own.

Of course, none of this is going to happen overnight. But the underlying trends are in place.

As a pro-European think tank, the ECFR then spends a lot of the pamphlet trying to explain how to get out of this unpromising situation. Its main recommendation seems to be that politicians on all sides do a better job of explaining the benefits of Europe.

In all, the ECFR’s analysis is much more compelling than its recommendations. But then that’s a problem I’m familiar with, in my own work.

Post on Politics: Could Germany divorce Europe?

The Libyan war: Unconstitutional and illegitimate (and opposed by “every other major power on earth&#8221

What do the five countries that registered their opposition to the Libyan war have in common? They make up most of the great powers of the early twenty-first century. A few years back, Goldman Sachs identified the so-called “BRIC’s” — Brazil, Russia, India and China — as the most important emerging countries in the world. The opponents of the Libyan war on the Security Council are the BRIC’s plus Germany, the most populous and richest country in Europe.

The Libyan war: Unconstitutional and illegitimate (and opposed by “every other major power on earth&#8221 « Peripheral Revision

Debt crisis looms: Eurozone at Germany’s mercy
20 July 2011

Tomorrow, at an emergency meeting in Brussels, Eurozone leaders will discuss the possibility of a second bailout for Greece to aid its debt problems. Previously confined to the smaller European countries (Greece, Ireland and Portugal) the crisis is now tainting the larger economies of Italy and Spain. Germany, the powerhouse of the European Union, must do what it can. Does this spell the end of the European Single Currency, and what are the consequences if so? “Our agenda will be the financial stability of the euro area as a whole and the future financing of the Greek program,”

European President Herman Van Rompuy said.

•Sour Krauts? Everything lies in Germany’s hands, said Jeremy Warner in The Daily Telegraph. “The future of the euro is now in jeopardy.”

Debt crisis looms: Eurozone at Germany’s mercy | The Periscope Post

Germany sided with Russia and China as it abstained from the UN Security Council vote to take "all necessary measures" to protect civilians in Libya. Berlin took the decision that would be most popular at home. Politicians do such things. But Germany's allies certainly notice.

Among allies, Germany is the odd man out in UN vote on Libya - CSMonitor.com

 

[Hello_10]

Because we rely on the eurozone exportwise. Furthermore there are several German enterprises and investments in other European countries which are of course linked to our economy. Also, a single German currency would be too strong and since we heavily rely on our exports, we have to keep trading exchange rates stable. The role of the paymaster has indeed selfish traits. We are also convinced to carry a historical role to maintain a more or less harmonic Europe to some extent. As for the serious racial superiority complex: Yeah.. no.

these were the very funny news for us last year. first the news that, "Europe is on Mercy of Germany" and then the second news that "Germany may Divorse Europe", then a news that "Germany is moving investments to BRICs" and then the very last news, "Germany sided with BRICS while voting on Libya war"

we then concluded, there are so many pigs in EU that Germany now wants to join the emerging powers, the BRICS. see this video as below about the pigs, (PIIGGS), the 'dirty' economies who earn less and spend more. in one picture, all these pigs of EU are going down in water but Germany isn't willing to give its hands to them, see the video carefully

 

[Audio]

these were the very funny news for us last year. first the news that, "Europe is on Mercy of Germany" and then the second news that "Germany may Divorse Europe", then a news that "Germany is moving investments to BRICs" and then the very last news, "Germany sided with BRICS while voting on Libya war"

we then concluded, there are so many pigs in EU that Germany now wants to join the emerging powers, the BRICS. see this video as below about the pigs, (PIIGGS), the 'dirty' economies who earn less and spend more. in one picture, all these pigs of EU are going down in water but Germany isn't willing to give its hands to them, see the video carefully

ECB's Coeure warns against betting on euro collapse

(Reuters) - The euro zone political commitment to the euro should not be underestimated, European Central Bank Executive Board member Benoit Coeure said on Friday in a warning to those doubting the single currency's survival.