Replies to post #200292 on Tornado Alley (PROG)

[BullNBear52]

The Positives
The eurozone is a negotiated partnership between participating countries of the European Union (EU), to share the economic and political benefits typically only associated with larger countries. The synergistic expectations and economies of scale projections from the agreements made between these countries, were expected to have a positive, long-lasting impact for all member nations.

http://www.investopedia.com/articles/economics/12/behind-the-euro-history-and-future.asp

You had the Euro zone countries trying to compete with the likes of Russia, the U.S., China and India to a lessor degree.

IMO the Euro Zone countries biggest mistake was looking at the US and the 50 states and saying well if they can do it so can we.

What was always lacking in the EU was a central bank and central regulation. Something that the sovereign nations of the EU would ever give up. That is one reason the UK said thanks but no thanks.

So you still had the Piigs screwing the rest of the members.


PIIGS is an acronym, similar to others like BRICS and EAGLES, that defines a certain group of countries that have some commonality in location and economic environments. In this case, PIGS includes Portugal, Italy, Greece and Spain. While not originally included in the group, Ireland has found its way into the mix, which is why the term PIIGS is more commonly used now.


All of these countries are part of the eurozone and have been grouped together with the unflattering acronym of a barnyard animal known for its proclivity to mud, dirt and not-so- pleasant smells. The term itself is not an official title, nor does it separately delineate these countries from the European Union (EU). The term became a convenient way for currency traders and global investors to group these countries together. It has lived on as a club, of sorts, that no country would want to join and each participant would like to quit.


http://www.investopedia.com/articles/economics/12/countries-in-piigs.asp

With Cyprus added in you could almost spell pricks. If of course you include Russia who will probably cut off the gas supply to the EU countries next winter over the screwing in Cyprus.

The K stands for who is going to get KICKED out first.