EU leaders make vows not plans in face of crisis

E U ALSO LIKE U S A SHOULD  ANNOUNCE FINANCE PACKAGE FOR E U BANKS TO PREVENT GLOBAL FINANCE CRISIS.

"France had mooted a multibillion-dollar EU-wide government bailout plan, but backed off after Germany said banks must find their own way out."

It would seem that the Voice Of "We The People" has an influence on EU politics. The People of the US of A voiced a "Not Bail Out" action.   Germany is simply following the grass roots expressions voiced in the United States. The Voice of the People of the EU is silent.

 The introduction of the Euro produced a 40% loss of its purchasing/spending power. ..Silent waters run deep...Is Europe in worst shape than the US?

Krishna, you have a choice between a Free Market Economy and a Government controlled economy.

Models of Gov. Controlled Economies are Socialism and Communism and Dictatorships. The Reality shows that the top of these societies are living the life of the biggest capitalist while the masses stand in line for a loaf of bread.

In a Free Market Economy the parties find their own solutions to their self-inflicted situations.

If government must control your loaf of bread; as is the case in Europe these days; every behaviour of the bakeries in the EU is now controlled by EU regulations thereby doing away with centuries of native/local customs people used to enjoy.

If the dullness of monotony and an apathetic society with a zombie herd mentality is your objective then you let Government bail out the mismanagement of the private sector(aka free markets) with taxpayers money, - cause somebody has to pay the bills - you then pay more taxes and you enslave your masses a bit more.

All the social progress made by the baby boomers generation during the 1950s -60s - 70s is systematically being shattered.  Ever asked why the UN - EU is working so hard to return “We the People” to the industrial slavery days where poverty and illiteracy filled up the bank accounts of the religious institutions who still enjoy TAX FREE Status!

One would have hoped the progress produced by what was then called “First World” would have  influenced positively the “Third World.” It appears to be the exact opposite: “First world” is turned into a Third World hellhole.

Mankind is such a great species!

ELI

TO RUN THE COUNTRIES ,YOU CAN HAVE DIFFERENT POLITICAL SYSTEMS BUT TO RUN THE ECONOMIES, YOU REQVIRED TO HAVE SINGLE ECONOMIC SYSTEM  FOR THE WORLD WHAT I CALL IS SOCIALISTIC CAPITALISM WHERE GOVERNMENT HAS TO PROVIDE FREE FOOD TO POOR AND ALLOW MARKETS TO PERFORM WITH EFFECTIVE CONTROLS.IN 21ST CENTURY, ECONOMIES ARE WORKING ON GLOBAL TRENDS. SO ,YOU CAN NOT HAVE CLOSED ECONIMIES.  FOR EXAMPLE, MY INDIA WITH 1100 MILLION PEOPLE WITH 4PERCENT WORLD LAND AREA ARE LIVING IN A DEMOCRACY FOR THE LAST 60 YEARS WITH ADOPTION OF SOCIALISTIC CAPITALISM.WE HAVE WORLD RICHEST PEOPLE, COMPANIES AND WORLD POOREST PEOPLE BUT  OUR SAVING RATE IS 20 PERCENT. OUR ECONOMY HAS NOT GROWN LIKE PURE CAPITALIST COUNTRY OR COMMUNIST CHINA. BUT OUR  COUNTRY  IS LIVING PEACEFULLY BECAUSE OF EFFECTIVE CONTROLS AND PEOPLE  BY NATURE ARE PEACEFUL.  THE GOVERNMENT ,GOVERNMENT COMPANIES,PRIVATE COMPANIES,FOREIGN COMPANIES ALL HAVE A ROLE IN ANY COUNTRY  IN 21ST CENTURY GLOBAL ECONOMY. BANKS SHOULD FUNCTION  ON BUSINESS PRINCIPLES AND  SHOULD NOT PROVIDE  100 PERCENT AS LOAN TO ALL THE PEOPLE LIKE POLITICIAN  FREE PROMISESS IN DEMOCRACY . CHINA  politically COMMUNIST COUNTRY BUT ECONOMICALLY  ADOPTED SOCIALISTIC CAPITALISM IN 1980s AND  ECONOMICALLY GROWN NUMBER ONE COUNTRY IN THE WORLD WITH MASSIVE INDUSTRIALISATION AND  PRODUCTION OF MANY ITEMS AT LESS COST DUE TO POLITICAL DESCIPLINE AND LABOR PRODUCTIVITY. ALL THE WORLD  CASH IS ONLY WITH CHINA, RUSSIA AND OPEC.

ELI

Yes, introduction of EURO,creation many countries from U S S R and their currencies,fixed exchange rates following by many countries have eroded the purchasing power of many countries .21st century calls for single  global currency and all the national currency values have to be refixed based on the formula to have real values of currencies. we  reqvire global organisation for finance to control all the central banks and frame global regulations to deal global finance transactions for healthy world finance sector.

GERMANY IS VERY RIGHT INDEED, LET THE BANKS FIND THEIR  OWN WAY OUT, AS MANY OF THEIR  CEOS

CAUSED   THE DEBACLE AND SHOUD NOT BE REWARDED FOR DOING SO(MAKING BAD DECISIONS)

GARY GRAHAM

SASKATOON SASK CANADA

EMAIL GARYWGRAHAM@SASKTEL.NET

Instead of the bailout in this good old U.S. of A, they should have froze the assets of the CEOs, prosecuted them on the fraud they committed, sold the assets and returned the money to the treasury without haveing to tax us for their immoral acts or sink us into unbelievable debt.  The decision to stand by and watch your 401K sink, rather than rolling it over into lower interest IRA is yours to make.  Wall street is nothing but legalized gambling for the rich with retirement funds anyway. Same as going to a casino with your savings, you lose you pay.  I again believe the Democratic and Republican parties are both responsible for this mess.  As you plainly saw it is the Congress and the Senate so called representatives of the people of our nation who turned on us and voted us into debt it will take generations to pay back.  If we don't control our representative's actions thru recall or voting for the person, not the party, then it's our own fault for handing over the reins to them.  This nation has surcumbed to greed, pure and simple, and some of the greediest sit in our Congress.  Use your vote to clean house or lose your rights, simple as that.  Whoever is elected President, if they don't perform in the best interest of this nation, that is why impeachment was implemented.  If your representatives are ignoring your you, then recall them or vote them out.  To sit and complain on a web site is easy, they depend on the fact that people will not take the time or energy required to remove them, and so far they seem to be winning the bluff.

It was just a few weeks a go that the European and English newspapers and "knowledgeable" business people were saying that this time would be different for the world. The USA had diminished so much in power and the dollar was so weak that whatever happened in the US would not spill over to the rest of the world. After all, the world now had China and India etc and they would hold things together for the world economy.  Now everything is being blamed on the US and further......the Germans today pointed out that the US had failed and leadership would now pass on to the enlightened capitalists and away from the "cowboys".  So who is the world economic leader now goin to be.....the EU, Germany, France. Yeah sure...they are so pathetic as to not even merit mention.

The US will move on from this crisis in whatever way is neccessary but one thing is sure.....it will be dealt with and quickly.

Let the EU continue to worry about regulating strictly the shape, contents and pricing of a loaf of bread. 

This whole fiasco is a pigs breakfast!  I may be wrong, but I cannot believe that HYPO going down the tubes in Germany or HBOS in the UK (Lloyds came in) was due solely to purchasing pools of sub-prime mortgages made in the US.  If that is the case their business model was doomed from the beginning!  Seems to me their problems stem from organic growth of questionable loans in their country of origin.  If not, then how many trillions of $ in sub-prime loans were made in the US and sold round the world?

Clearly, many of the mid-level and senior level executives in the banks and mortgage companies are completely incompetent in measuring credit risks, (not to mention our so-called political leaders) but if they get to keep their jobs they will either continue to do what they do best, i.e. abuse the financial system and taxpayers, or they will do nothing, i.e. credit freeze.  Take your pick!

Apparently the Asian banks didn't jump into the sub-prime pools the way other banks did.  What did they see in the risk that others didn't?

As long as Americans keep voting the same people to Congress every time they come up for re-election, and continue to buy foreign goods, things will only get worse.

If Americans boycott foreign goods maybe Americas manufacturing base would return, even American cars are made in Canada and Mexico.

Buy American.