Brittish Foreign Secretary William Hague says he has been proved right by the debt crisis after calling the eurozone a "burning building with no exits" in 1998 (while Conservative leader).
He also says the Euro is a "burning building with no exits". From Daily Mail:
You can have burning buildings where they manage to put out the fire or control it or get more room or something.
'I might take the analogy too far but it’s not built with exits so it is physically a difficult thing to leave a currency without any plan to do so I don't think we can advocate that but they are on very unpalatable choices and it clearly means that being in the Euro that Greeks, or Italians or Portuguese have to accept some very big changes in what happens in their country, even bigger than if they weren’t in the Euro.
'And Germans will have to accept that they are going to subsidise those countries for a long time to come really, for the rest of their lifetimes.'
Wednesday, September 28, 2011
Hague: Germans Are Going to Subsidise Those Countries For a Long Time to Come, For The Rest of Their Lifetimes
Subscribe to:
Post Comments (Atom)
Blog Archive
-
▼
2011
(510)
-
▼
September
(46)
- Kodak, EK Caput - 60%, Straddles
- Austria Passes ESFF II But 'Referendum Now" Banner...
- A New Movie: "Debt Again": If The Eurozone Crisis ...
- The Android Tax And The Microsoft Rip-off; MSFT Lo...
- Germany Says "No Mas", No More Bailouts; Cannot Ri...
- Inflation Surges in The Eurozone
- Roubini: ESPF III Will Have To be $2T Euros
- QQQ, Nazdaq Composite: Bizarre Chart
- Banks Force Spain To Cancel Its Biggest IPO Becaus...
- Fed's Fisher: Operation Twist Likely Ineffective, ...
- Bernanke Tells One Truth About The Unemployed, Too...
- France's Budget First To Cut Spending Since... 194...
- Amazon's Fire: RIM Boom or Bust: Profit Either Way
- Greece Tax Hikes: Greek Deputy Prime Minister Can'...
- Hague: Germans Are Going to Subsidise Those Countr...
- Amazon Kindle Fire Review: RIM's Playbook Kiss of ...
- Greek 1-Year Bonds Tell The Story
- Sprott Blasts Dimon in Carney vs Dimon
- Germany's Eureca Secret Plan For Greece: Is Greece...
- Inflation Accelerates in Germany; German Bonds Fall
- The EIB To leverage to Trillions?! This is Who Own...
- Rosenberg: If This Leveraged European Plan is True...
- BAC: Is Bank of America Going Under?
- Gold Soars: Physical Buying of Gold "Exceptional"
- G20 Countries Have Lost 20M Jobs and May Lose Anot...
- Germany's Top Judge Issues Stern Warning: No New F...
- Kodak Plunges: Profit Either Way
- The Top 20 World's Most and Least Polluted Cities
- Latest Euro Plan Will Not Work, Markets Will Crash...
- JPM"s Dimon Attacks Marc Carney; Carney Infers Ban...
- Perfect Storm For Gold and Silver; Biggest Plunge ...
- Gold and Financial Options: AUY +100% ROI
- Greece's Finance Minister Admits Default
- Bernanke Twists, Market Shouts; The Bears Run Wild...
- Investing For the Bernanke and the FOMC Meeting Cr...
- Roubini Strikes Again: Greece Should Default And Q...
- Brazil To Propose BRICS Help Europe With Billions;...
- Currency Wars: Brazil To Propose New Exchange Anti...
- Brazil's CPI Inflation Rises to 7.12%
- Moody Downgrades French Banks Societe Generale and...
- China to Europe: First 'Put Your Houses In Order";...
- Unbelievable Greek Bonds Hit 130%
- Euro-Yen Collapses: 10-Year Low
- Greece 1-Year Bonds Now Yields 89%
- Roubini: This is Not The Time To Be In Risky Asset...
- Brazilian CB Cuts Rates By 0.50%: Brazilians Highl...
-
▼
September
(46)
No comments:
Post a Comment