How long until the EU dissolves?

[Trimalchio]

I'm going to be a little crazy and assume it won't be 2011. How long until the great socialist Krugmanian utopia lurches into failure?

[ShebaPoe]

It's not a socialist utopia. It's a captive audience to buy german made/engineered/improved upon goods.

Germans might piss and moan about repeatedly bailing out banks who own greece's debt, but german leaders know the euro is sort of a quasi reserve currency to them. Theyll spend a lot to preserve the EU

[Mr. B]

I've never understood how they can have a common currency without a single governing unit to make all their political (especially economic) decisions. It shouldn't have lasted as long as it has.

[Guerilla poster]

Originally Posted by Mr. B

I've never understood how they can have a common currency without a single governing unit to make all their political (especially economic) decisions. It shouldn't have lasted as long as it has.

In theory, there were restraints on going too heavily in debt.

What other economic decisions does a country's government make?

[Guerilla poster]

Originally Posted by Trimalchio

I'm going to be a little crazy and assume it won't be 2011. How long until the great socialist Krugmanian utopia lurches into failure?

You mean that socialist Krugman utopia that refused to increase spending to prop up the economy, where members states implemented austerity measures? That one?

[Standtall]

Originally Posted by Guerilla poster

You mean that socialist Krugman utopia that refused to increase spending to prop up the economy, where members states implemented austerity measures? That one?

So these states that put in auterity mesaures, how much does the government spend/run compared to the rest of the world after these "measures" were put in?

[Guerilla poster]

Originally Posted by Standtall

So these states that put in auterity mesaures, how much does the government spend/run compared to the rest of the world after these "measures" were put in?

I don't get your question. 42?

Krugman is all about stimulus. Europe did anything but stimulate.

[asdfasdf]

The German banks were the ones lending to Greece to capture the extra yield. Germany isn't going to let their own banks fail due to Greece defaulting, so will keep things in line.

The trouble of course, is since Germany will be controlling the purse strings they will gradually take over all of Europe, a course of events that hasn't played out well in the past.

[Standtall]

Originally Posted by Guerilla poster

I don't get your question. 42?

Krugman is all about stimulus. Europe did anything but stimulate.

You seem to have claimed that these states can't be socialist because they did Austerity instead of Stimulus.

If after Austerity the government still spends more than other countries, your point is very very weak.

i.e. a country whose Government was spending 90% of GDP and uses Austeriy measures to cut it to 87% is still more socialist than a country whose Government was spending 35% and Stimulated it up to 38%.

[Guerilla poster]

Originally Posted by Standtall

You seem to have claimed that these states can't be socialist because they did Austerity instead of Stimulus.

.

Not what I was saying, that would be a dumb statement. I am just saying how can they be a Krugmanian utopia, when they did the opposite of what he is promoting.

Oh, and socialism, give it a break. America is socialist, has been for at least 80 years.