17 -country eurozone has fallen back into recession

[Ringsixty]

"Holly Cow Batman" Seventeen EU Nations slip back into recession.
Get ready boys and girl. Things are going to get a lot tougher in the good old USA.
The markets are quickly slipping down, down, down.

 

[k0ijn]

"Holly Cow Batman" Seventeen EU Nations slip back into recession.
Get ready boys and girl. Things are going to get a lot tougher in the good old USA.
The markets are quickly slipping down, down, down.

Seventeen nations have not slipped into 'recession'.
The eurozone as a whole has slipped into recession if you compare results in economic growth vs decline from all the nations.

Germany and France are both in positive growth (at 0.2%) and the European Commission still has a forecast of growth (0.1%) in the zone.

So it's incorrect to assume this will mean a new recession will occur.
Yes, the eurozone as a whole was in positive growth and has now (as a whole) gone into a negative growth but that is not the same as to say that 17 nations have slipped back into recession, when in actuality most poor and debt ridden nations who use the Euro are still in the same recession and few nations even show positive growth.

Also, not every European country uses the Euro or are in the eurozone.
A lot of nations in Europe are seeing positive growth.

The European Union is for example showing positive growth (27 member nations).
That includes the most prosperous and humane nations in Europe (including the entire eurozone Euro nations).

Those who aren't showing positive growth are the same ones who fucked it up for themselves and have had extremely bad leadership (Italy, Spain, Greece etc.).

 

[ChesusRice]

"Holly Cow Batman" Seventeen EU Nations slip back into recession.
Get ready boys and girl. Things are going to get a lot tougher in the good old USA.
The markets are quickly slipping down, down, down.

PROOF THaT AUSTERITY WORKS!!!!!!!!!!!!!!

 

[ginwilly]

Blaming Austerity for the PIGS economic problems is like blaming insulin for your diabetes.

Estonia, Austria, Germany say yes, austerity dummy. I've yet to meet a taker that believes in austerity measures.

 

[Prisoner #56802]

"Holly Cow Batman" Seventeen EU Nations slip back into recession.
Get ready boys and girl. Things are going to get a lot tougher in the good old USA.
The markets are quickly slipping down, down, down.

Bad news!!!!...

 

[NoDrama]

The EU isn't in recession just the majority of the countries that make up the EU.

Growth must be more than inflation if there is to be any actual real growth. Inflation is MUCH MUCH higher than .2%.

The EU is in recession, in fact it is just like the USA in that it has been in recession since 2007.

 

[NoDrama]

PROOF THaT AUSTERITY WORKS!!!!!!!!!!!!!!

The only "Austerity" is in Greece and Spain, which only make up 2 of the more than 20 EU countries. So its really not proof of anything, at all.

 

[k0ijn]

The EU isn't in recession just the majority of the countries that make up the EU.

Growth must be more than inflation if there is to be any actual real growth. Inflation is MUCH MUCH higher than .2%.

The EU is in recession, in fact it is just like the USA in that it has been in recession since 2007.

No it isn't.
Some of the countries who use the Euro (eurozone) are still in the same recession.
Because of this the eurozone went from positive growth to a recession.
There's a difference between the eurozone and the EU.

The EU as a whole is not in recession and most of the countries in EU have positive growth.

 

[Harrekin]

The only "Austerity" is in Greece and Spain, which only make up 2 of the more than 20 EU countries. So its really not proof of anything, at all.

We have hardcore austerity AND we have growth too.

Cheesus clearly hasn't a clue about Europe, its pretty simple to see.

 

[ChesusRice]

We have hardcore austerity AND we have growth too.

Cheesus clearly hasn't a clue about Europe, its pretty simple to see.

Ireland Economy 2012: Goodbody
today published its Irish Economic Outlook for 2012, identifying six key issues
to watch out for in the coming twelve months. The brokers expect GDP (gross
domestic product) growth of 0.7% (previously 1.2%), but GNP (gross national
product -- mainly excluding profits of the multinational sector) is expected to
decline by 0.8% (previously +0.7%), while domestic demand will contract by 2.6%.
It is estimated that the debt/GDP ratio will rise to 124% in 2014.

 

[Harrekin]

Ireland Economy 2012: Goodbody today published its Irish Economic Outlook for 2012, identifying six key issues to watch out for in the coming twelve months. The brokers expect GDP (gross domestic product) growth of 0.7% (previously 1.2%), but GNP (gross national product -- mainly excluding profits of the multinational sector) is expected to decline by 0.8% (previously +0.7%), while domestic demand will contract by 2.6%. It is estimated that the debt/GDP ratio will rise to 124% in 2014.

So we've GDP growth even tho we're cutting our deficit by 3% of GDP per year?Also tax receipts are ahead of target on the 5 main tax categories. Also over 80% of our national debt is because we bailed out our banks ourselves, with no assistance from the Eurozone. Our bond rates keep dropping and we've a positive outlook from two of the major ratings agencies. You once again prove you know NOTHING about economics.

 

[ChesusRice]

So we've GDP growth even tho we're cutting our deficit by 3% of GDP per year?Also tax receipts are ahead of target on the 5 main tax categories. Also over 80% of our national debt is because we bailed out our banks ourselves, with no assistance from the Eurozone. Our bond rates keep dropping and we've a positive outlook from two of the major ratings agencies. You once again prove you know NOTHING about economics.

We have hardcore austerity AND we have growth too.

Cheesus clearly hasn't a clue about Europe, its pretty simple to see.

Ireland Economy 2012: Goodbody
today published its Irish Economic Outlook for 2012, identifying six key issues
to watch out for in the coming twelve months. The brokers expect GDP (gross
domestic product) growth of 0.7% (previously 1.2%), but GNP (gross national
product -- mainly excluding profits of the multinational sector) is expected to
decline by 0.8% (previously +0.7%), while domestic demand will contract by 2.6%.
It is estimated that the debt/GDP ratio will rise to 124% in 2014.

Ireland's banking crisis took yet another turn for the worse Thursday.
The government said its latest effort to purge lenders that gorged themselves on inflated property loans during the bubble will set taxpayers back 24 billion euros ($34 billion).
The announcement by finance minister Michael Noonan brings the tab for public support of the country's banks to $99 billion. That's a staggering 40% of annual economic output. A comparable figure in the United States would run above $5 trillion.
That explains Noonan's comment Thursday that the previous government's September 2008 decision to stand behind the teetering Irish banks "will go down in history as the blackest day in Ireland since the Civil War broke out."

 

[Harrekin]

Ireland Economy 2012: Goodbody
today published its Irish Economic Outlook for 2012, identifying six key issues
to watch out for in the coming twelve months. The brokers expect GDP (gross
domestic product) growth of 0.7% (previously 1.2%), but GNP (gross national
product -- mainly excluding profits of the multinational sector) is expected to
decline by 0.8% (previously +0.7%), while domestic demand will contract by 2.6%.
It is estimated that the debt/GDP ratio will rise to 124% in 2014.

Ireland's banking crisis took yet another turn for the worse Thursday.
The government said its latest effort to purge lenders that gorged themselves on inflated property loans during the bubble will set taxpayers back 24 billion euros ($34 billion).
The announcement by finance minister Michael Noonan brings the tab for public support of the country's banks to $99 billion. That's a staggering 40% of annual economic output. A comparable figure in the United States would run above $5 trillion.
That explains Noonan's comment Thursday that the previous government's September 2008 decision to stand behind the teetering Irish banks "will go down in history as the blackest day in Ireland since the Civil War broke out."

The State has pumped about €62 billion into the financial system since Ireland’s banking crisis began in 2008, the equivalent of about a quarter of the State’s gross domestic product last year.


According to the report, the fiscal cost (which includes bank recapitalisations and asset purchases) of Ireland’s banking crisis amounted to 41 per cent of GDP.


The authors said fiscal costs had reached such a high level in Ireland because of the relatively large size of the State’s banking system, which amounts to multiples of GDP.


The crisis, which is ongoing, has pushed Ireland’s debt up by 73 per cent of GDP, while the output loss amounts to 106 per cent of GDP.

And you wonder why we got a bad credit rating?

We paid our private banking debts with public monies at the call of the EU.

We're working our way out of it, and we're gonna habe our budget balanced by 2015.

What do you have on the horizon?

No budget and a fiscal cliff.

Keep printing the money, it'll last forever, I swear

 

[ChesusRice]

Our economy is growing
Yours is stagnate and slipping backwards

stones
glass houses

 

[Harrekin]

Our economy is growing
Yours is stagnate and slipping backwards

stones
glass houses

Your ever increasing national debt and inflation say otherwise.

With such a large and varied economy you's should've stormed out of this recession, especially considering you have your own currency to play with.

So what's the plan? Another round of borrowing with like 0.2% budget cuts?

That's sustainable

 

[ChesusRice]

Your ever increasing national debt and inflation say otherwise.

With such a large and varied economy you's should've stormed out of this recession, especially considering you have your own currency to play with.

So what's the plan? Another round of borrowing with like 0.2% budget cuts?

That's sustainable

Find out in the next couple of weeks
Hope for something good
We are probably propping up your welfare countries economy

 

[Harrekin]

Find out in the next couple of weeks
Hope for something good
We are probably propping up your welfare countries economy

Eh, that's bullshit bro.

If anything the uncertainty from your country complete LACK of a plan is what's helping cause the shit-ripples over here.

Our economy is fundamentally sound and we've a HUGE trade surplus and won't have any deficit spending from 2015 on...

Yet the supposed largest and most powerful economy in the world will have to go back to the Chinese (again) to bail it out...we've gotten our shit together, now maybe you sort out yours?

Or you could just be happy with your Obamaphone and keep your head in the ground.

 

[nontheist]

Eh, that's bullshit bro.

If anything the uncertainty from your country complete LACK of a plan is what's helping cause the shit-ripples over here.

Our economy is fundamentally sound and we've a HUGE trade surplus and won't have any deficit spending from 2015 on...

Yet the supposed largest and most powerful economy in the world will have to go back to the Chinese (again) to bail it out...we've gotten our shit together, now maybe you sort out yours?

Or you could just be happy with your Obamaphone and keep your head in the ground.

Harrekin you're arguing with an idiot. The Obama nut huggers are like the rats to the pied piper. It doesn't matter that everyone in the world say Obama is an incompetent leader and we're about to nose dive off a fiscal cliff, they're all wrong! He's gonna save us!

 

[Harrekin]

Harrekin you're arguing with an idiot. The Obama nut huggers are like the rats to the pied piper. It doesn't matter that everyone in the world say Obama is an incompetent leader and we're about to nose dive off a fiscal cliff, they're all wrong! He's gonna save us!

Let me put it this way for Cheesus...

If your household earns 20 grand in a year and spends 25, you'd have to reduce spending.

Anyone who thinks sticking it on the credit card, with no budget and just the hope that your bills will magically drop/pay will magically go up is retarded.

Yet he thinks my household, which had to pay off its son's debts (the banks) then reduced their deficit at a sustainable level over a number of weeks (years) till we get to a balanced budget is the stupid one.

Ask Germany how they just (easily) rode out the WHOLE recession, I bet youll find it wasn't deficit spending

 

[nontheist]

Let me put it this way for Cheesus...

If your household earns 20 grand in a year and spends 25, you'd have to reduce spending.

Anyone who thinks sticking it on the credit card, with no budget and just the hope that your bills will magically drop/pay will magically go up is retarded.

Yet he thinks my household, which had to pay off its son's debts (the banks) then reduced their deficit at a sustainable level over a number of weeks (years) till we get to a balanced budget is the stupid one.

Ask Germany how they just (easily) rode out the WHOLE recession, I bet youll find it wasn't deficit spending

Obama has this in hand don't worry, we will cut 500 billion by spending 1.2 trillion.