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February 5, 2010
Economic troubles in Eurozone may spread elsewhere

Lawmakers in Portugal today defeated a plan to cut government spending, adding to fears that its budgetary woes will continue.

European markets faltered this week, as worries mounted that the threat of financial crises in Greece, Portugal, and Spain could spread across the Eurozone — and possible beyond.

Daljit Dhaliwal spoke with Marcus Mabry, international business editor of The New York Times, about a potential European financial meltdown and what it means for the rest of the world–  and the United States.

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Comments

9 comments

#9

#1 is CORRECT. “confessions of an economic hitman”, although written in layman terms explains the behavior of the IMF, WB, usury, and briefly rothchilds, debeers,oppenheimers, etc. FRACTIONAL BANKING doesn’t and WON’T work. it’s nothing more than slavery. secondarily it’s just a simple math algorithm, DOOMED TO FAILURE. the sooner one of these countries default the better. the larger the country the better. point of fact, if multiple countries collectively went bankrupt it would result in a accelerated solution.
i anxsiously await the outcome. conceivably could take years, but…inevitable, check your math.
simple, people simple, look at the math!!

#8

Now the time has finally come to google ‘Prout’

#7

It is solely the “European Central Banks” responsibility to help with the bailout of Greece,..if it actually goes belly-up. This also holds true for Ireland,Portugal,and Spain under agreement by the Council of Minister’s,and written fiduciary by-laws from the “27” twenty-seven “Commission Member States”. The foremost newly elected President of the European Council has the utmost vested authority to see this crises through under the sole auspices of internal regulatory legalities within said entities,…the “EU’s Architectonics Infrastructure”. The European Community vested interest are mostly (for lack of,… much harsher critisim) at fault for their weak sisters decline based upon impeded transparency regarding arcane monetary policy,… ie.)the famous/infamous inflation check/balances to prevent recession,naught,… the last decade? The European Central Bank is quite similar to the United States Federal Reserve, whereas the US has twelve (12) federal district banks representing the entire country,..contrary to the twenty-seven (27) European member nations representing their individual country whom are so obligated to be signatory for membership, proliferating as one would think,…the whole,that being “The European Monetary Fund (Federated/Natioalistic Central Bank?) Bank”, Reserve? {Sidenote: Italy,Greece,Spain,and Portugal were the very first original signatories to the EU in early 1992} Today (data from 2008) the European Community has a 500 million plus population membership with a “GDP”(PPP/2008)of $15.3tn (US$),…and “GNP” (nominal/2008) of a whopping $18.4tn (US$)! If we compare that to the United States population of 310 million with with a GDP of $14tn/GNP of $14.75tn their very much on par proportionately to the United States considering their bulk of revenue comes from “Exporting”. Finally,…there is no credible reason for the “IMF”,or any other independent (WB?)entity to become,or get (hands-off) involved with the European Community’s Financial Business,period! PS. This current situation is analogous to what’s unfolding in the {that being the 13th largest economy( being one of our premier hi-tech states)in the world on the verge of bankruptcy} great “State of California” at the cost to american taxpayers (which ironically is our signatory responsibility) of $750bn-$1.0tn,…nice! [I’d like to mention/reference a wonderful business journalist blog written by Ms. Elizabeth MacDonald (E’Mac) @ FOX Financial News (FNC.com/business). Thanks World Focus ;^)

#6

Europe will become a 2 tier structured economy-it already is staged this way.So much for the ‘Grand’ vision of a united Europe.The French and German Governments just want to dominate trade and dictate their terms for regional development…….

#5

Greece, Portugal, and Spain and member states in the EU. The economic power-houses of the EU should come to their rescue. EU you can have a Federal Government based upon the Lisbon treaty if you not willing to lead your own internal affairs. Will you stand by and do nothing while your Euro becomes only worthy to be toilet paper ?

Muhammads post about the federal reserve is accurate. The Federal Reserve is a Private Banking System.

#4

Re the previous comment, I meant WITHOUT A.D.D. That’s what happens when you type while frustrated.

#3

Why even have Mabry on? He didn’t answer the question that was asked him twice: how a possible default in the Eurozone would affect the US. Instead he slipped back into one-note broken-record mode, “Asia rising, West declining, yadda yadda yadda,” which we’ve heard from him repeatedly. Get better pundits, WorldFocus, or at least get some with ADD.

#2

Greece may end up as the Lehman Brothers of this stage of the crisis, being allowed to fail as an object lesson for everyone else. In order for necessary, but widely unpopular, reforms to be enacted in these countries, bankruptcy must become a possible outcome. Amputation only looks attractive, when death is otherwise inevitable.

#1

IN THE NAME OF ALLAH – THE BENEFICENT – THE MERCIFUL:SAY:HE,ALLAH IS ONE.ALLAH IS HE ON WHOM ALL DEPEND.HE BEGETS NOT,NOR IS HE BEGOTTEN.AND NONE IS LIKE HIM.[QUR’AN:112]-” CONFESSIONS OF AN ECONOMIC HITMAN ” [ JOHN PERKINS]. ” ALLAH HAS FORBIDDEN USURY AND PERMITTED TRADE.” THIS IS ONE OF THE MAIN REASONS THE IMPERIALIST AND ZIONIST FEAR ISLAM BECAUSE ISLAM FORBIDS USURY.HERE IN AMERIKA THE INTERNATIONAL BANKERS HAVE ENSLAVED THE PEOPLE THROUGH THE IMPOSITION OF THE FEDERAL RESERVE SYSTEM. THERE IS NOTHING FEDERAL ABOUT THE FEDERAL RESERVE SYSTEM ” THE FEDERAL RESERVE IS AUTONONMOUS.” [ PRESIDENT REAGAN IN A PRESS CONFERENCE].ROTHSCHILDS,DEBEERS,OPPENHEIMERS,GOLDMAN AND SACHS ETC,HAVE ENSLAVED THE WORLD AND ONLY ISLAM CAN DEFEAT THE IMPERIALIST,ZIONIST ETC.” THE STRUGGLE FOR WORLD POWER.” [ GEORGE KNUFER].TAIF’TUL’ISLAM-P.O.BOX 338-COMPTON,CA.90223

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