Germany ATTACKs Britan

[Mega]

http://blogs.telegraph.co.uk/finance...-economic-war/
Mike

[ricket]

Re: Germany ATTACKs Britan

You should really read the story of the boy who cried wolf.

[jimmygu3]

Re: Germany ATTACKs Britan

You should really read the story of the boy who cried wolf.

That's funny, I literally was thinking the same thing before I clicked the link. I think Mega could have a future writing headlines for tabloids.

[unlucky]

Re: Germany ATTACKs Britan

Great article. It's OK for Ambrose Evans-Pritchard to lambast British banks - but the last thing we want to hear is the GERMANS doing it. Who won the bloody war anyway?

[hayekvindicated]

Re: Germany ATTACKs Britan

I actually agree with him for a change. He is right about the German banks. Its nothing short of ludicrous for Germans to lecture anybody on banking regulation when their largest bank is the MOST leveraged on the planet!

[D-Mack]

Re: Germany ATTACKs Britan

5. Mr Steinbrück is the arch-cover-up artist himself. He has been resisting - “tooth and nail” - a transparent stress test of the German banks. This comes despite a string of criticisms from the IMF, OECD, and European Commission. It is blindingly obvious that he has swept the problems under the rug until after the election.

It could get interesting after the election, still haven't decided how to vote

7. In terms of morality, I don’t see much to choose between Germany’s car industry (with its stress on high-powered engines that consume scarce resources, and pollute) and the City of London. They are both core national industries, pillars of our respective economies.

Cars and CDS's and CDO's are the same?

Need I add, yet again, that the banks did not cause this global crisis. Governments around the world caused the crisis by forcing down the price of credit (Greenspan, Bank of Japan, and ECB on short rates: China et al on long rates, by flooding the global bond market) far too low for many years, encouraging debt. Banks were the instruments, not the cause. That is an elementary point that many people - including Mr Steinbrück, obviously - still fail to understand.

Did congress decide to keep rates low or the "independent" FED ?

[renewable]

Re: Germany ATTACKs Britan

Given how much attention iTulip usually pays to credibility of sources, it's odd how often Ambrose Evans-Pritchard pops up here. He's been warning British people of the dangers of holding Euros for years. Meanwhile:

[GRG55]

Re: Germany ATTACKs Britan

Given how much attention iTulip usually pays to credibility of sources, it's odd how often Ambrose Evans-Pritchard pops up here. He's been warning British people of the dangers of holding Euros for years. Meanwhile:

AE-P is well known for his anti-Europe sentiments.

I note in the article that started this thread he argues on the one hand that financial services isn't really that big a part of the UK economy...

UK financial services are 7.8pc of GDP, not 15pc.

followed by...

One reason why the budget deficit has exploded to 13pc of GDP is that the collapse of City profits has cut a huge hole in government revenues.

Am I the only one that finds a bit of a contradiction here?

Anyone who has spent just a little bit of time in southern England in recent years, and borne first-hand witness to the insanity that was prevalent all around, would be spitting up their morning coffee reading this...:p

In terms of morality, I don’t see much to choose between Germany’s car industry (with its stress on high-powered engines that consume scarce resources, and pollute) and the City of London. They are both core national industries, pillars of our respective economies.