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Posts Tagged ‘Euro crisis’

What Does George Soros Know About Glass Houses?

Posted by Larry Doyle on June 24th, 2010 11:07 AM |

“People in glass houses should not throw stones.”

On the outset of the G-20 to be held in Toronto, Tim Geithner and Larry Summers served up a pile of platitudes yesterday by writing in The Wall Street Journal, Our Agenda for the G-20. Meanwhile, they have their henchman George Soros pull out the bazooka and take direct aim at Germany today in writing in the Financial Times, Germany Must Reflect on the Unthinkable.

In reviewing Soros’ commentary, it is plainly evident that my Irish Catholic heritage does not hold the patent on laying the heavy guilt trip. Soros writes: (more…)

Euro Crisis Merely Delayed, Not Averted

Posted by Larry Doyle on May 10th, 2010 8:39 AM |

They blinked.

The European Union and European Central Bank stole a play from the wizards in Washington to avert an immediate currency crisis in the EU and the potential ripple effect around the world. Did they do the right thing? For me, the question of addressing the fiscal crisis within the EU is not one of right or wrong; rather, when the crisis comes, how large will it be and how long will it last?

The trillion dollar package provided by the European Central Bank, the European Union itself, and the IMF is a combination of loan guarantees and quantitative easing. Shock and awe and punish those who would dare sell the Euro short, right? Clearly, the massive injection of capital will squeeze those who have shorted the Euro, but what about the long haul?

The EU is subverting the very tenets upon which the union was founded. Those tenets precluded this type of financial bailout. (more…)






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