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Title: And Cyprus too Post by: CARLHAYDEN on June 21, 2012, 11:44:10 AM While Portugal, Italy, Greece and Spain have gotten the most attention for their irresponsibility, we should not forget other European countries like Iceland, Ireland or Cyprus. Here’s some info from the New York Times:
Cyprus, Under Mounting Pressure, Explores Bailout By DAVID JOLLY and STEPHEN CASTLE Published: June 12, 2012 PARIS — Encouraged by the rescue of Spain’s banking sector, Cyprus has begun preparing euro zone countries and its own public for the likelihood of a bailout application before it takes over the presidency of the European Union at the start of July, European officials and bankers said Tuesday http://www.nytimes.com/2012/06/13/business/global/cyprus-explores-a-bailout.html Title: Re: And Cyprus too Post by: Tetro Kornbluth on June 21, 2012, 03:54:15 PM The "irresponsibility" was equally shared by all. I look forward to an article which blames the risk management of Franco-German banks equally as it blames "lazy Greeks" (yeah, that's going to happen).
Please, get lost. Title: Re: And Cyprus too Post by: CARLHAYDEN on June 21, 2012, 06:05:26 PM The "irresponsibility" was equally shared by all. I look forward to an article which blames the risk management of Franco-German banks equally as it blames "lazy Greeks" (yeah, that's going to happen). Please, get lost. You do have a point that the banks should never have loaned the money to the Greeks, or the others. You seem to misunderstand the thrust of the point that the frequently cited PIGS are not the only European countries that have severe economic problems. Further, I never referred to the Greeks as "lazy," -- that's something you made up. Title: Re: And Cyprus too Post by: patrick1 on June 21, 2012, 06:51:41 PM The "irresponsibility" was equally shared by all. I look forward to an article which blames the risk management of Franco-German banks equally as it blames "lazy Greeks" (yeah, that's going to happen). Please, get lost. You do have a point that the banks should never have loaned the money to the Greeks, or the others. You seem to misunderstand the thrust of the point that the frequently cited PIGS are not the only European countries that have severe economic problems. Further, I never referred to the Greeks as "lazy," -- that's something you made up. I believe he is referencing the overall lazy journalism and commentary (of which this is no doubt an example) that frames this crisis as some Manichean battlefield between the noble, industrious nations versus the savage, lazy ones. It is far easier to play up long held national stereotypes and anthropomorphize the crisis than to analyze how much hair you should be allowed to cut off corporate bankers. Title: Re: And Cyprus too Post by: Kevin on June 21, 2012, 09:28:35 PM The "irresponsibility" was equally shared by all. I look forward to an article which blames the risk management of Franco-German banks equally as it blames "lazy Greeks" (yeah, that's going to happen). Please, get lost. You do have a point that the banks should never have loaned the money to the Greeks, or the others. You seem to misunderstand the thrust of the point that the frequently cited PIGS are not the only European countries that have severe economic problems. Further, I never referred to the Greeks as "lazy," -- that's something you made up. I believe he is referencing the overall lazy journalism and commentary (of which this is no doubt an example) that frames this crisis as some Manichean battlefield between the noble, industrious nations versus the savage, lazy ones. It is far easier to play up long held national stereotypes and anthropomorphize the crisis than to analyze how much hair you should be allowed to cut off corporate bankers. Look who's talking with all their rhetoric! Title: Re: And Cyprus too Post by: patrick1 on June 21, 2012, 11:02:55 PM The "irresponsibility" was equally shared by all. I look forward to an article which blames the risk management of Franco-German banks equally as it blames "lazy Greeks" (yeah, that's going to happen). Please, get lost. You do have a point that the banks should never have loaned the money to the Greeks, or the others. You seem to misunderstand the thrust of the point that the frequently cited PIGS are not the only European countries that have severe economic problems. Further, I never referred to the Greeks as "lazy," -- that's something you made up. I believe he is referencing the overall lazy journalism and commentary (of which this is no doubt an example) that frames this crisis as some Manichean battlefield between the noble, industrious nations versus the savage, lazy ones. It is far easier to play up long held national stereotypes and anthropomorphize the crisis than to analyze how much hair you should be allowed to cut off corporate bankers. Look who's talking with all their rhetoric! What exactly is the rhetoric, Kevin? The media coverage of the Euro crisis has been shoddy and in some places inflammatory. Surely one can point out that speculation fed this problem. Many pumped billions into these economies filled with "lazy" people and when thing went tits up they are now all of a sudden preaching the gospel of austerity. There is no doubt that there were fundamental flaws in several economies, but more balanced coverage is required. Title: Re: And Cyprus too Post by: CARLHAYDEN on June 26, 2012, 06:26:55 PM Patrick,
First, coverage by the American media of economic matters has generally been abysmal. Second, the thrust of my original post was that the problems cited were more extensive than generally acknowledged. Third, as I pointed out, the lenders were themselves at fault for making bad loans. So, in conclusion, lets examine the situation rather than engage in hyperbole and inflammatory rhetoric. |