France Wants A Bailout Also!
Filed under: Anglophilia > Politik > Francophilia
Us Americans aren't the only ones in financial troubles!
Europe seems to be having its own issues as well.
And, France's President Sarkozy is now putting pressure on the UK's Prime Minister, Gordon Brown by proposing a $330 billion bailout fund to help the crumbling banks across Europe.
Brown is also facing demands from British banks that are upset about the Irish Republic's guarantee of all bank savings, which they say is robbing them of deposits.
The British Bankers’ Association said that the move by the Irish was anti-competitive.
So in response to many demands, the Prime Minister has started to get together an emergency committee to take care of Britain's response to the current crisis.
An emergency summit has also been scheduled tentatively for this Saturday with the top officials from France, Italy, and Germany among the group.
President Sarkozy's proposal was received with a lot of skepticism in the UK, but it got hostility from Germany.
The proposal involves a creation of a European-wide emergency fund to be used in times of need to help banks when national governments can't intervene.
But Germany clearly stated they would not be issuing a blank check for all banks, "regardless of whether they behave in a responsible manner or not”.
The backlash even caused France to deny that they had even put out the proposal for the funding. And then even after they admitted it, they denied it'd cost over $330 billion, saying the number came from the Dutch Government. Which caused the Dutch to respond by saying they had no clue what the French were talking about!
So aside from all the childish behavior, PM Brown will be announcing his new crisis committee today or tomorrow.
Let's hope Europe gets its economy back in shape. We sure need to fix ours.
[Image via WENN.]
All about a bitch everywhere.
Asia will be next…
i love the dutch………..huh…don't know what you're talking about…LOL
CANADA ROCKS!
no doubt this will be blamed on the Americans as well.
…and some soap.
Lottie are you still blowin' people if we say we like that Paris shit?
i need a boost….
Perhaps France's President Sarkozy should return all the expensive gifts he purchased for his man eater wife, Carla Bruni. That should cover it, no?
eff Germany.
i can't leave comments on the next post….this site sucks today!
we are all fucked
Money=the root of all evil- there is a hell and we are living in it. Carma is coming at us all at full force. Who will be left to clean up the mess?
i bet all the fat cats around the world are licking their chops for free bail outs at the expense of breaking the backs of their people…
OH CANADA!
Italy is great. France, under Sarkozy, is back on track. Fuck Germany.
fuck the francais
who cares about europe…who cares if they smell…. all they need is to shower…. NOW let's focus in America!
BLASPHEMY!
Maybe France's First Wife should make more records and sell them, I'm sure that would make some dough for them
I'm sure it's the Republicans and Bush's fault.
BACK BACON!
There's light at the end of the tunnel… oh wait, it has been switched off as a part of cost cutting.
Re: PrincessAndrea – and who cares about the USA? WTF..USA and Europe are in this together. If the economy is going bad it effects both.
You are really narrow of spirit.
I am Belgian and proud to be it. In my country and in all Europe, we try to manage to continue with the shit which you put in the whole world with your system saving.
Sorry for my english but I wanted to react.
The people who allow themselves to criticize the others should look at what them country made lie shit in the whole world as well economically as by making a stupid war.
Ireland is in recession!
banks all over are crumbling and yes USA this is sort of your fault.
It amazes me that 'you' always say how you are the biggest and the best and blah blah…except when it comes to owning up to the fact that also a lot of the BIGGEST SHIT that is happing is because of your nation
maybe the french should try longer work weeks…hint hint prez sarkozy: 35 work weeks just wont cut it!
Super! my preceding comment was removed.
I then will remake it in nicer. Sorry for my English but I feel obliged to react.
Isn't it easy to make fun of Europeans whereas they still try to manage with the jumble which you created with your economic system?
In Belgium, the government was obliged to invest with great blows in the banks Fortis and Dexia.
Do you know that with all your transactions and the loans that your country made in Asia, each one of you borrows 7 dollars per day?
Your situation will not improve so quickly. And thus that of the rest of the world either!
Thank you with your politicians
Exactly Bommie
With the place to criticize French, you should rather become friendly with them.
In Europe, one often says that they are praised without stop.
To take with the smile
hm…actually, the banking crisis in Europe is the mere RESULT of the American bankers crisis cause European banks had bought the sour mortgages investment packages a.s.o…So do not speak, please, as if the crisis in Europe is a "separate" crisis! Dumb greedy American bankers and politicians!
That s why we are so THANKFUL again towards the American Administration and corrupted bankers scum!
Our economies are all intertwined, if the US is doing poorly, it affects other countries all around the world (which is exactly why we must do the bailout) the same way we are affected if the asian markets are doing poorly. Glad to see Germany is on board.
Re: .bommie –
Exactly my opinion!
If European bankers had NEVERE "cooperated" with American banks, we Europeans would not be in that finance SHIT!
Re: SquirrelLives –
QUOTE: " SquirrelLives…"
——–
It IS!
Re: manump001 – Yes our economy is doing poorly, and Americans are struggling across the board. And yes other countries are feeling it too. They also felt the growth and wealth when our economy was doing well. We are passing the bailout plan and we are fixing it. Quit your bitching.
Re: kanga3 –
Today, in German papers 2 female senior citizens were interviewd - they lost all their money they at a German bank they had invested in Lehman Brothers Certificates cause their German bankers told the old ladies that Lehman Brothers is an absultely safe investment…..The German banks that got in deep trouble and have gone almost bankrupt all(!) were involved with American banks investments…so the crash on the German Stock Exchange was the RESULT of the irresponsible way American bankers and rich people have acted for the last DECADE!
Re: Bavaria – You'd also never have a big or wealthy economy!
"America - Where it pays to fail":
In the current financial crisis, the model of US capitalism has imploded with a big bang. But the Bush administration is trying to douse the flames with yet more fuel instead of water, and it wants to see Wall Street's gamblers rewarded for failure.
A contemplative trader on the floor of the New York Stock Exchange.
More than 100 years ago, German sociologist Georg Simmel criticized the banks for being even bigger and more powerful than the churches. His chief complaint — that money is the new god of our times — is still heard today. If Simmel was right, and there are some indications that he was, his statement would have to be modified to suit today's circumstances: Not all people pray to the same god. .."
——-
You can read the ENTIRE article on the English edition of SPIEGEL DE…
Re: kanga3 –
Kango, you re WRONG! By far the MOST of Germany s exports have always gone to other EUROPEAN countries!
Re: Bavaria – You know thats happening here too and you know what we're doing? We're spending 700 billion dollars to make sure it doesn't happen. What is your government doing? Nothing? And BTW, I think I remember the rest of the world putting your country back together a few decades ago, so call us Americans selfish and greedy all you want…I think you'd be in a different place if we didn't exist.
Re: kanga3 –
I wonder whether you know what you do speak? all the economies interact between them. thus your fall involves that of the others…
Re: Bavaria –
Really good article….
"….Finally, we have the religious community of the Uninhibited, which is especially popular in the United States. Its adherents readily admit to intentional recklessness, wanton waste and omnipresent greed.
They call it "the American way of life." Its members live in the here and now, without asking questions about tomorrow. One lends money to another, even though it's not his money. Instead, he has borrowed it from a third person, who has promised to procure it from a fourth person — and so on.
Southampton : The Evidence Trail Begins
This religious community is the most devout of them all. Some time ago, it adopted the practice of treating anticipated money like real money and equating desire with reality. Whatever shred of inhibition they had was now shed.
Since everybody knew that desires outnumbered dollars, the inevitable result was a certain funding gap, or deficit. Capitalism without capital — the audacious heart of the innovation — could not function. There is no worldly salvation — at least that was a conclusion that the old God, the one bearing the cross, and the new god, the one with the dollar signs in his eyes, could agree on.
Re: Bavaria – Ok…you're right. The United States has only hurt Germany. We've never done anything to help your country or your economy.
Re: Bavaria – looks like greed is also a global issue
Re: manump001 – Um…what? Did you read my first post? I said "Our economies are all intertwined, if the US is doing poorly, it affects other countries all around the world (which is exactly why we must do the bailout) the same way we are affected if the asian markets are doing poorly. Glad to see Germany is on board."
Re: kanga3 –
So, you think it s okay that your Government gives 700 bn USD of TAXPAYERS MONEY for FREE to the financially privately SECURE and WEALTHY bankers? Me, I don t think so….the banks should PAY it themselves! Or your Government should BUY the bank so to speak…why should banks receive free moneys from U.S. taxpayers? You must be really sort of masochistic, cause first your corrupted bankers and stock exchange moneymakers and corporate managers EXPLOIT you with minimum wages and by letting you DIE in Iraq for business and oil reasons ALONE, and now you even want to give them YOUR money that s left?
Re: kanga3 –
Kanga, your country DID help to get rid of our fascist regime, but: Haven t you NOTICED that this was 3 quarters of a century AGO?
Or do you want us to discuss your extinction of the Red Indians, your LOST wars in Korea and Vietnam, your slavery in the 19 century, a.s.o.?
Re: kanga3 –
To give ahead the second world war, you always made that when that arranges you well. You were already thanked and certain European countries help you even in your idiot war.
And in Belgium, the government is moved as opposed to what you say!
Re: mamajud –
It most definitely IS!
And it seems to be spread most among the WEALTHY people, such as investment bankers, corporate managers and top range politicians!
However, I really think that the "American way of life" of spending money no matter whether you can or not and not thinking about the CON