EURO 2012

[Miwiw]

Also, Miwi´s comment was obviously shitty, but after you attack germany that hard and call everyone chocolate chip cookies, what do you expect? What goes around comes around is for you, too.

Of course it was shitty and meant like that. That it wasnt meant seriously; everyone can imagine that. ;)

Ye, 2 trillion in debt..

[Lord_Panos]

Bah i just wasted my time with some immature kids,and imagine how ppl call me a troll and a retard 


Molly,Bosco my apologies if I offended u in any way,you know me better.

the rest of you can go fuck yourselves.

[bosco]

I'm not offended, I'm a ghetto internet vet.

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Probably a bad thing 

[B3RS3RK]

Let someone else argue with beer that's not a German himself (that obviously excludes Paul, Molly, Berserker, Miwiw and you others.

Why?Panos is greek, his discussional partner should be german.

If there should be a objective discussion, both sides should not be directly involved, not just one.

[Laufknoten]

This thread shows how perfectly the plan of these "certain" people works to ride europe in the abyss.
Let the people fight against each other and they won't realize their real enemies. If there was unity, europe would be a much better place. And I'm not taking about an EU-state, I'm talking about countries that respect each other. The greeks (any many other countries) should stop with their "lets blame germany for it"-mentality and the germans should stop being the naive retards they are for the past decades... 

[bosco]

This thread shows how perfectly the plan of these "certain" people works to ride europe in the abyss.
Let the people fight against each other and they won't realize their real enemies. If there was unity, europe would be a much better place. And I'm not taking about an EU-state, I'm talking about countries that respect each other. The greeks (any many other countries) should stop with their "lets blame germany for it"-mentality and the germans should stop being the naive retards they are for the past decades...

We all know who's behind this...

[Lannistark]

We all know who's behind this...

IV Reich and Merkel are.

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[bosco]

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[Lannistark]

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lol where the fuck you got that pic from? Shows some hard-work put in with Paint.

[Tavuk_Bey]

lol where the fuck you got that pic from? Shows some hard-work put in with Paint.

lauer meer!

[Oberyn]

I've said it before and I'll say it again, GB is just a fucking troll trying to sabotage the EU from the inside, and the 'murkans just cheer it on cause they're competitive retards and think it proves how awesome their country is by comparison, completely ignoring that EU and US economy are linked at the hip and a recession in EU = a recession in the US and vice versa.

In other news,

Posted by Joseph Cotterill on Jun 29 04:54.

   *EURO LEADERS RENOUNCE SENIORITY ON SPAIN LOANS

Specifically

    We reaffirm that the financial assistance will be provided by the EFSF until the ESM becomes available, and that it will then be transferred to the ESM, without gaining seniority status.


This is

a) Progress in eurozone leaders’ understanding of how bond markets work; a viable plan especially given the crucial movement towards direct official recaps for banks

or

b) Simply unbelievable, based on past practice in Greece; plus they can happily leave seniority implicit until a restructuring anyway

You choose.

Euro area agrees bond support for Italy, Spain

12:03am EDT

By Paul Taylor and Luke Baker

BRUSSELS (Reuters) - Euro zone leaders agreed on Friday to take emergency action to bring down Italy's and Spain's spiraling borrowing costs and to create a single supervisory body for euro zone banks by the end of this year, a first step towards a European banking union.

Responding to pleas from Spanish and Italian leaders, a midnight summit of the 17-nation currency area agreed that euro area rescue funds could be used to stabilize bond markets without forcing countries that comply with EU budget rules to adopt extra austerity measures or economic reforms.

After hours of argument, they also agreed that the bloc's future permanent bailout fund, the European Stability Mechanism, would be able to lend directly to recapitalize banks without increasing a country's budget deficit, and without preferential seniority status.

"The process was tough, the outcome was good," Italian Prime Minister Mario Monti told reporters, adding that Italy did not intend "at this time" to apply for the emergency support.

Countries that requested bond support from the rescue fund would have to sign a memorandum of understanding setting out their existing policy commitments and agreeing a timetable. But they would not face the intrusive oversight of a "troika" of international lenders to which Greece, Ireland and Portugal have been subjected, Monti said.

Spain and Italy had earlier withheld their agreement to a growth package at a European Union summit to demand emergency action to bring down their spiraling borrowing costs, which threaten to force the third and fourth largest economies in the euro zone out of the capital markets.

European Council chairman Herman Van Rompuy said the aim was to create a supervisory mechanism for euro zone banks involving the European Central Bank to break the "vicious circle" of dependence between banks and sovereign governments.

"We are opening the possibility to countries that are well behaving to make use of financial stability instruments in order to reassure markets and to get again some stability around some of the sovereign bonds of our member states," Van Rompuy told a 4.30 a.m. (0230 GMT) news conference.

"The aim is of course to make the euro an irreversible project," he added.

The euro surged by 1.1 percent to $1.2581 after the euro zone affirmed its commitment to use its bailout funds more flexibly and efficiently to stabilize markets.

But whether investors regard the deal struck at the 20th summit since the crisis erupted in early 2010 as sufficient remains to be seen. Previous relief rallies have fizzled within days or hours as new doubts set in.

GROWTH PACKAGE DELAYED

Monti and his Spanish counterpart, Mariano Rajoy, had refused to sign off on a 120 billion euro ($149 billion) growth package until EU paymaster Germany approved short-term measures to ease their cost of credit.

The clash highlighted tensions between northern creditor countries and heavily indebted southern states over the future shape of the troubled 17-nation currency bloc, now in the third year of a sovereign debt crisis.

German Chancellor Angela Merkel, leader of Europe's biggest economy, said she was satisfied with the result although she had dismissed any need for emergency support for Italian and Spanish bonds earlier this week.

"We made a good decision today, in particular concerning growth and combating unemployment and also on future measures for the EFSF and ESM. We will continue to work on long-term measures. I believe that we will reach a good conclusion tomorrow," she said.

Euro zone leaders will return on Friday to discuss longer-term plans to build a much closer fiscal and banking union, on which they asked Van Rompuy and the heads of the European Commission, ECB and Eurogroup finance ministers to present detailed proposals by October.

The special terms for Italy and Spain, cobbled together hastily in an effort to halt spreading contagion in bond markets, drew immediate demands for improved terms from one country under an EU/IMF bailout program.

Irish Prime Minister Enda Kenny said the deal should open the way to "re-engineer the debt burden on our taxpayers" of his country's bailout, granted in 2010 to avert a banking collapse after a real estate bubble burst.

Spain formally applied for up to 100 billion euros in assistance this week to recapitalize banks laden with bad debts due to a similar burst housing bubble.

Cyprus became the fifth country out of 17 euro zone members to appeal for a rescue due to the east Mediterranean island's heavy exposure to Greece's debt crisis.

As the leaders argued, Italy beat Germany 2-1 in the Euro 2012 soccer semi-final, the underdog knocking the favorite out of the contest.

Asked whether he expected Italy to go on to beat Spain in Sunday's final, Monti deadpanned: "I never speculate about financial markets or football."

(Additional reporting by Julien Toyer, John O'Donnell, Catherine Bremer and Francesco Guarascio in Brussels. Writing by Paul Taylor, editing by Mike Peacock)

This is a huge step towards debt mutualization of the type that makes the US state system economically viable.

[Tavuk_Bey]

now this thread is officially "troll an eu nation" thread

[LordBerenger]

We all know who's behind this...

Watch what you say before i'll report you to CIA....just sayin

[HarunYahya]

FU ALL
Tonite someone's gonna be happy...
Guess who...

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[Molly]

FU ALL
Tonite someone's gonna be happy...
Guess who...

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Let's hope it really comes to this.