The fall of Capitalism

[Fresh Prince]

n Berlin, German finance minister Wolfgang Schaeuble told parliament his government was acting with its European partners to bail out Ireland because the single European currency was "at stake".

http://www.theage.com.au/business/world-business/irish-pm-cowen-fights-for-survival-20101124-185yp.html

Those eurofags do like socialism an awful lot

[TripleA]

In west philadelphia

[Vizzys]

born and raised

[tehjaybo]

On the playground is where I spent most of my days

[Great Rumbler]

I can't remember the rest of the song, sorry.  :'(

[Eel O'Brian]

the fall of spelling 

[Beardo]

You mean euro-socialism?
 

[Mandark]

the fall of spelling 

"Thank you!

You mean euro-socialism?
 

Weren't conservatives telling us how great Ireland's economy was doing thanks to its low corporate tax rate?  Then when the global recession hit, how Ireland's austerity program was a better choice than stimulus spending? 

[Madrun Badrun]

Would this have happened if the English had been in charge?

[Joe Molotov]

Would this have happened if the English had been in charge?

The English would have established a booming cravat based economy that would have kept Ireland prosperous well into the foreseeable future.

[chronovore]

1) Sell more single malt whisky.
2) To Japan, if possible.
3) PROFIT.

[Diunx]

Stop stealing jobs Kosma!

[Fresh Prince]

US gone
Euro going

God bless China and no one else!

[Maximus]

Yeah the thing you have to remember is Ireland really dropped the ball on this, no doubt about we were fucked and were couldnt really get money from international markets, the ECB allowed Ireland to loan from their own funds but they decided to put a stop to that. The IMF joined with the ECB and got involved and the bailout started.
But here's the kicker sure we we're fucked but the Irish government had the Europe by the balls with this. Europe had to loan Ireland the money regardless or the Euro goes bye bye.
Had they manned up and looked after their own country instead of pandering to Europe like usual, they could've got a much better deal with the ECB not involving the IMF at all, but no its the typical inferiority complex that we are somehow inferior to bigger countries and cant do things without their permission.
And yes I realise what I'm saying would mean screwing over other EU countries by possibly destabilising the EU, but their priorities as ministers are to luck after their own people first and foremost which they didnt.

[Dickie Dee]

I had thought it was basically because it's monetary policy is determined by Germany, for Germany but it applies to every country in the EU. When other countries start faltering, their policy doesn't get adjusted because it's still about what's best for Germany and their economy.

A large, analogous economy like the US with it's regional state economies somewhat gets around this with a strong central gov't that can spread the wealth a bit to different, weaker states through federal spending, but stronger countries in the EU scream murder over bailouts.

The EU is either going to have to get much, much weaker or much, much stronger - as it is now it's untenable, and it's not just the fault of the "PIIGS" for being wasteful.

[Maximus]

I had thought it was basically because it's monetary policy is determined by Germany, for Germany but it applies to every country in the EU. When other countries start faltering, their policy doesn't get adjusted because it's still about what's best for Germany and their economy.

oh no just because Germany and France have the most sway out of anyone in Europe doesnt mean they abuse that power consistantly.....

spoiler (click to show/hide)

yes its exactly like you say but the EU will deny it and say its all equal.

[close]

Ireland done fucked up no doubt about it, but we dont deserve a modern day fucking treaty of Versailles which we'll be paying back for the next God knows how many years, stifling any growth in the economy and all because they followed European banking policies by deregulating the shit out of everything.

[chronovore]

Man soon they will raise corporate tax and all the big companies will fuck off to Croatia or Bulgaria or something. That would be cool, sitting in the sun etc 

Yeah, that low corporate tax is in place, and will remain in place, for that very reason.

[Joe Molotov]

[youtube=560,345][/youtube]

Catchy