NEW Alarm Sounded over the Euro implosion

77patriots · 01-23-2012, 08:01 PM

Lagarde Sounds New Alarm Over Europe...

http://www.ft.com/intl/cms/s/0/52dcc...#axzz1kKtjVPWO

It is commming, not even Goldman Sachs can fix it with our stolen dollars by them.

The head of the International Monetary Fund said on Monday the eurozone needed a bigger firewall to prevent Italy and Spain sliding towards default, underlining Europe’s responsibility in solving its own sovereign debt crisis.

In a speech in Berlin, Christine Lagarde, IMF managing director, said that without a larger bail-out fund, fundamentally solvent countries like Italy and Spain could be forced into a financing crisis.

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“This would have disastrous implications for systemic stability,” she said.

Ms Lagarde said that the eurozone authorities needed “a clear and credible timetable” to fold the existing European Financial Stability Facility (EFSF) into the new European Stability Mechanism (ESM), increase its size and ensure support from the European Central Bank.

Her speech directly addresses one of the most central issues in the eurozone sovereign debt crisis – the size and scope of official bail-out funds designed to stop instability spreading.

The ESM, whose launch leaders are trying to bring forward to July, is planned at around €500bn. That is unlikely to be large enough to finance big bail-out programmes for Italy and Spain, should they be required.

A draft of the EU treaty setting up the ESM and seen by the FT sets the ceiling for the bail-out system at €500bn, but gives members of the fund’s board the right to raise the amount.

However, in a television interview on Sunday evening, Wolfgang Schäuble, German finance minister, said that increasing the size of the fund was not under discussion at the moment.

Although the IMF has not explicitly stated a target size for the eurozone bail-out fund, a paper presented last week to the fund’s executive board implied that the eurozone would need to find an extra $500bn on top of existing resources.

The paper said there was likely to be an additional global demand for bail-out funds of around $1tn over the next two years, of which it said the IMF itself should aim to raise enough cash to meet half.

The IMF, which has provided about a third of the money for bail-outs in Ireland, Greece and Portugal, has been under increasing pressure from its emerging market shareholders and the US not to extend more lending to western Europe without a credible commitment from the eurozone authorities to lead an effective solution to the crisis.

In an apparent reference to Germany, Ms Lagarde on Monday suggested that fiscal consolidation should be delayed in eurozone countries which had the ability to do so.

“Yes, several countries have no choice but to tighten public finances, sharply and quickly,” she said. “But this is not true everywhere. There is a large core where fiscal adjustment can be more gradual.”

Ms Lagarde said: “Those with fiscal space should support the common effort by reconsidering the pace of adjustment planned for this year.”

The IMF is due to release the latest versions of its global economic forecasts on Tuesday.

Ms Lagarde said they would be lower than previously estimated for most of the world. “Even these lower forecasts assume a constructive policy path that is by no means assured,” she said.

albino · 01-23-2012, 08:40 PM

I have to admit... they have done a great job of de-sensetizing people to this, by yelling the "European sky is falling" every damn day. (for the past how long?)

My point is, I pay attention to this stuff, and think it's important... but even i'm half numb to these stories by now...

TheGreek! · 01-23-2012, 08:45 PM

Thats the intent.

drjarhead · 01-23-2012, 08:54 PM

Does anyone really care anyhow?

I suppose a few lefties here do but most of us know the thing's coming down at some point. WTF, just get it over with already.

TheGreek! · 01-23-2012, 09:12 PM

albino · 01-23-2012, 09:18 PM

Love that movie!!!

Pvt.Joker · 01-23-2012, 09:59 PM

And still they want us to beLIEve that there IS ANY solution left that can "fix" the issue,short of flushing the ENTIRE system and starting over. That's what THEY know is coming; they just want to stall as long as they can to acquire what they can in the meantime before their "wealth" turns to ashes in their hands and dust in their ledgers...

The longer they can make people worry about the COMING collapse, the longer they can hold off the day when people realize it has ALREADY BEEN IRREVERSIBLY DONE, and there is NO "fixing it".

Bingo · 01-23-2012, 11:58 PM

March 20th is the Greek default date....

drjarhead · 01-24-2012, 12:00 AM

Quote:

Originally Posted by Pvt.Joker

And still they want us to beLIEve that there IS ANY solution left that can "fix" the issue,short of flushing the ENTIRE system and starting over. That's what THEY know is coming; they just want to stall as long as they can to acquire what they can in the meantime before their "wealth" turns to ashes in their hands and dust in their ledgers...

The longer they can make people worry about the COMING collapse, the longer they can hold off the day when people realize it has ALREADY BEEN IRREVERSIBLY DONE, and there is NO "fixing it".

Exactly

OMG Obama Must Go · 01-24-2012, 12:09 AM

Quote:

Originally Posted by Pvt.Joker

And still they want us to beLIEve that there IS ANY solution left that can "fix" the issue,short of flushing the ENTIRE system and starting over. That's what THEY know is coming; they just want to stall as long as they can to acquire what they can in the meantime before their "wealth" turns to ashes in their hands and dust in their ledgers...

The longer they can make people worry about the COMING collapse, the longer they can hold off the day when people realize it has ALREADY BEEN IRREVERSIBLY DONE, and there is NO "fixing it".

+1!!!!!!!!!!!!!!

TheGreek! · 01-24-2012, 01:28 AM

Quote:

Originally Posted by Pvt.Joker

And still they want us to beLIEve that there IS ANY solution left that can "fix" the issue,short of flushing the ENTIRE system and starting over. That's what THEY know is coming; they just want to stall as long as they can to acquire what they can in the meantime before their "wealth" turns to ashes in their hands and dust in their ledgers...

The longer they can make people worry about the COMING collapse, the longer they can hold off the day when people realize it has ALREADY BEEN IRREVERSIBLY DONE, and there is NO "fixing it".

The sheeple are too busy drinking wine and eating cheese to realize whats going on around them and when they finally do realize it it'll be too late....

In the meanwhile I'll be over here fixing the tank...

01-23-2012, 08:01 PM	#1
77patriots Curio & Relic AKaholic #: 106007 Join Date: Jun 2010 Location: LIBERTY,MO Posts: 11,090	NEW Alarm Sounded over the Euro implosion Lagarde Sounds New Alarm Over Europe... http://www.ft.com/intl/cms/s/0/52dcc...#axzz1kKtjVPWO It is commming, not even Goldman Sachs can fix it with our stolen dollars by them. The head of the International Monetary Fund said on Monday the eurozone needed a bigger firewall to prevent Italy and Spain sliding towards default, underlining Europe’s responsibility in solving its own sovereign debt crisis. In a speech in Berlin, Christine Lagarde, IMF managing director, said that without a larger bail-out fund, fundamentally solvent countries like Italy and Spain could be forced into a financing crisis. High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. http://www.ft.com/cms/s/0/52dcc61a-4...#ixzz1kKxjUWjR “This would have disastrous implications for systemic stability,” she said. Ms Lagarde said that the eurozone authorities needed “a clear and credible timetable” to fold the existing European Financial Stability Facility (EFSF) into the new European Stability Mechanism (ESM), increase its size and ensure support from the European Central Bank. Her speech directly addresses one of the most central issues in the eurozone sovereign debt crisis – the size and scope of official bail-out funds designed to stop instability spreading. The ESM, whose launch leaders are trying to bring forward to July, is planned at around €500bn. That is unlikely to be large enough to finance big bail-out programmes for Italy and Spain, should they be required. A draft of the EU treaty setting up the ESM and seen by the FT sets the ceiling for the bail-out system at €500bn, but gives members of the fund’s board the right to raise the amount. However, in a television interview on Sunday evening, Wolfgang Schäuble, German finance minister, said that increasing the size of the fund was not under discussion at the moment. Although the IMF has not explicitly stated a target size for the eurozone bail-out fund, a paper presented last week to the fund’s executive board implied that the eurozone would need to find an extra $500bn on top of existing resources. The paper said there was likely to be an additional global demand for bail-out funds of around $1tn over the next two years, of which it said the IMF itself should aim to raise enough cash to meet half. The IMF, which has provided about a third of the money for bail-outs in Ireland, Greece and Portugal, has been under increasing pressure from its emerging market shareholders and the US not to extend more lending to western Europe without a credible commitment from the eurozone authorities to lead an effective solution to the crisis. In an apparent reference to Germany, Ms Lagarde on Monday suggested that fiscal consolidation should be delayed in eurozone countries which had the ability to do so. “Yes, several countries have no choice but to tighten public finances, sharply and quickly,” she said. “But this is not true everywhere. There is a large core where fiscal adjustment can be more gradual.” Ms Lagarde said: “Those with fiscal space should support the common effort by reconsidering the pace of adjustment planned for this year.” The IMF is due to release the latest versions of its global economic forecasts on Tuesday. Ms Lagarde said they would be lower than previously estimated for most of the world. “Even these lower forecasts assume a constructive policy path that is by no means assured,” she said. __________________ http://confoundedinterest.wordpress.com http://usawatchdog.com/ JPFO+1 GOVERNMENT BY THE CONSENT OF THE GOVERNED God please save our Constitutional Republic and the Rule of Law, and please pray for Peace GOD BLESS AMERICA,GOD SAVE THE RULE OF LAW The MEDIA Is a WEAPON of MASS DISTORTION truth found here-http://whatreallyhappened.com/

01-23-2012, 08:45 PM	#3
TheGreek! FAA certified Aircraft Mechanic Silver Contributor AKaholic #: 157160 Join Date: May 2011 Location: Tucson Arizona Posts: 17,196	Thats the intent. __________________ Ghengis Khan didnt suffer from low T

01-23-2012, 08:54 PM	#4
drjarhead Mad Doctor AKaholic #: 5952 Join Date: May 2006 Location: on a lake in the forest Posts: 27,019	Does anyone really care anyhow? I suppose a few lefties here do but most of us know the thing's coming down at some point. WTF, just get it over with already. __________________ The United Socialist States Govt is the enemy, both foreign and domestic Fight or Die

01-23-2012, 09:12 PM	#5
TheGreek! FAA certified Aircraft Mechanic Silver Contributor AKaholic #: 157160 Join Date: May 2011 Location: Tucson Arizona Posts: 17,196	__________________ Ghengis Khan didnt suffer from low T

01-23-2012, 09:59 PM	#7
Pvt.Joker Curio & Relic AKaholic #: 8956 Join Date: Aug 2007 Posts: 5,209	And still they want us to beLIEve that there IS ANY solution left that can "fix" the issue,short of flushing the ENTIRE system and starting over. That's what THEY know is coming; they just want to stall as long as they can to acquire what they can in the meantime before their "wealth" turns to ashes in their hands and dust in their ledgers... The longer they can make people worry about the COMING collapse, the longer they can hold off the day when people realize it has ALREADY BEEN IRREVERSIBLY DONE, and there is NO "fixing it". __________________ Here richly, with ridiculous display, The Politician's corpse was laid away. While all of his acquaintance sneered and slanged I wept: for I had longed to see him hanged. "Epitaph on the Politician Himself"- Hilarie Belloc In the end, those who felt the "need" to make better choices for the rest of us should be told that they have a choice between going to the gallows, or being fed chocolate cake. But WE get to "make the BETTER choice" for THEM for once.

01-23-2012, 08:40 PM	#2
albino Curio & Relic Silver Contributor AKaholic #: 156525 Join Date: Mar 2011 Location: CA Posts: 2,484	I have to admit... they have done a great job of de-sensetizing people to this, by yelling the "European sky is falling" every damn day. (for the past how long?) My point is, I pay attention to this stuff, and think it's important... but even i'm half numb to these stories by now...

01-23-2012, 09:18 PM	#6
albino Curio & Relic Silver Contributor AKaholic #: 156525 Join Date: Mar 2011 Location: CA Posts: 2,484	Love that movie!!!

01-23-2012, 11:58 PM	#8
Bingo "Who Dares Wins" AKaholic #: 7308 Join Date: Jan 2007 Location: One Floor above Hell..... Posts: 3,594	March 20th is the Greek default date....

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