Luminous Landscape Forum

The Art of Photography => The Coffee Corner => Topic started by: geotzo on January 12, 2012, 07:19:38 am

Title: Eurozone dept. Who owes what to whom?
Post by: geotzo on January 12, 2012, 07:19:38 am

I found this on the web and I think it is very interesting, though it is missing some depts and some factors:
http://www.bbc.co.uk/news/business-15748696 (http://www.bbc.co.uk/news/business-15748696)

Title: Re: Eurozone dept. Who owes what to whom?
Post by: Rob C on January 12, 2012, 12:45:33 pm

Quote from: geotzo on January 12, 2012, 07:19:38 am

I found this on the web and I think it is very interesting, though it is missing some depts and some factors:
http://www.bbc.co.uk/news/business-15748696 (http://www.bbc.co.uk/news/business-15748696)

I think the truth is more simple: nobody knows anything, really, and they have all flown on a wing and a prayer since before the € was invented. It's just a legal pyramid scheme, where as long as everybody holds their breath and nerve, it works, but given the first international shudder... hello, 2008!

Even more nuts is the relative value of currencies: living here in Spain for over thirty years, I've seen the pound go up, down, and round and around like a Chuck Berry classic: one day I feel okay and the next I sweat blood about what the pension's going to be worth this month. On the day that the euro was introduced, we went for a coffee in our local bar and wham! the price had literally doubled! The same held true with the farmer's market too; somehow, the potatoes had become far more expensive overnight, and those cherries must have suddenly been made of gold! Can't trust fruit and veggies; give them a chance and they'll rip you right off!

And politicians have to pretend they hold not only answers, but the keys to the kingdom of tomorrow!

Rob C

 

Title: Re: Eurozone dept. Who owes what to whom?
Post by: geotzo on January 13, 2012, 03:08:18 am

Dear Rob,
you brought a nice smile to my face this morning, reading your post, as I feel exactly the same about the situation.
It is always good to know you have parallel thoughts with people living under similar circumstances. It was the same
when we moved the currency over to Euro, yet for some reason many people around me where happy as if they where
given a better job or promotion. But as you say, everything went double the very next day... well salaries didn't.
Let's just hope we can find productive ways to fight for a better future.
I was in Malaga for a short project last month and I had some very interesting conversations with some locals. Also loved something about the city.
Very friendly people.
Kind regards,
George 
Greece

Title: Re: Eurozone dept. Who owes what to whom?
Post by: jeremypayne on January 13, 2012, 05:56:09 am

The introduction of the Euro had very little affect on actual price inflation ... but a very significant affect on perceived inflation ... as evidenced by the posts above.  This is a fairly well-covered area of economic research.

http://ec.europa.eu/economy_finance/publications/publication15287_en.pdf