“But sovereign debt is a wider question not only in Europe but across the globe. While every country is a unique case, I think it's not an issue of countries acting on their own. We need a more coordinated strategy not only in Europe but around the world.” ThinkingWorldNeedsCountryActingCasesIssuesUniqueEuropeStrategyDebtAround The WorldGlobesSovereign Author:George Papandreou
“Instead of focusing on growing jobs and reigniting our economy, President Obama focused on growing government and tried to remake the United States into the image of the debt-laden countries of Europe. His approach has been more spending, more regulation, and higher taxes.” Has BeensCountryStatesGovernmentJobsPresidentUnitedUnited StatesEconomyGrowingHigherTaxesApproachEuropeDebtFocusedSpendingPresident ObamaRegulationRemakes Author:Rob Portman
“Greece is a medium-sized country in Europe. Our debt accounts for only 2.5 percent of the total of all members of the euro zone.” CountryMembersPercentEuropeAccountsDebtMediumsZoneGreeceEuro Author:Evangelos Venizelos
“Germany will always do the minimum to preserve the euro. Doing the minimum, though, will perpetuate the situation where the debtor countries in Europe have to pay tremendous premiums to refinance their debt. The result will be a Europe in which Germany is seen as an imperial power that will not be loved and admired by the rest of Europe - but hated and resisted, because it will perceived as an oppressive power.” CountryResultsPaySituationEuropeDebtPreservesHatedGermanyMinimumEuroDebtorsRefinance Author:George Soros
“To win elections, politicians have promised practically endless government spending and covered up the cost, leaving generations of taxpayers obligated to pay off the debt. That's wrong, but neither the U.S. nor Europe has a plan to stop it.” GovernmentWinningPayPlansGenerationsPoliticianCostEuropeElectionLeavingDebtSpendingEndlessCoveredTaxpayersGovernment SpendingCovered Up Author:David Malpass
“None of the problems that caused the crises in Europe and America have been resolved. They have been delayed and expanded by more debt and more money printing and will lead to more and worse crises.” Has BeensProblemAmericaEuropeCrisisDebtMore MoneyPrintingDelayedEurope And America Author:Bill Bonner
“At the moment we are facing a whole collection of difficult to forecast developments from the situation in China and the oil-price crash to the worrying news from some banks in Europe and the US. All of that is linked: Worldwide company debt is high and there is a lot of money in circulation. That is why necessary structural reforms are not being made.” MadeWholeMomentsDifficultCompanySituationWorryDevelopmentNewsEuropeChinaDebtOilReformCollectionsLots Of MoneyCrashLinkedCirculationForecastsOil Price Author:Wolfgang Schauble
“Italy is the fourth-largest economy in Europe and the eighth-largest economy in the world, and its banking system is collapsing. And Germany is desperate. It must maintain its standard of living. It can only do that with exports and Deutsche Bank is very exposed to Italian debt. But so is the rest of Europe.” WorldEconomyStandardsEuropeDebtGermanyDesperateItalianExposedFourthBankingStandards Of LivingBanking System Author:George Friedman
“We need economic growth in Europe and we need to find a solution for the excessive interest rates that are making it difficult for many countries to get their own debt under control.” NeedsCountryDifficultGrowthInterestEconomicSolutionsEuropeRateDebtEconomic GrowthInterest Rate Author:Martin Schulz
“This is a guy [Steven Lerner] who believes, for example, that Reaganomics or trickle-down economics means, "The rich got rich by stealing from the poor," or stealing from the middle class and making them poor via debt. He has worked with unions in Europe.” BelieveMeanGuyPoorClassRichMiddleExampleEuropeEconomicsUnionsDebtStealingMiddle ClassTrickle DownTrickle Down EconomicsReaganomics Author:Rush Limbaugh
“Well what would happen is that if Greece defaulted and couldn't pay its debts, all the Greek bonds that are held in other banking systems across Western Europe would suddenly have no value. You could as a knock-on effect create a banking crisis in Western Europe.” IfsWellsHappensValuesPayEffectsEuropeCrisisWesternDebtGreekBankingGreeceBanking SystemWestern EuropeBanking Crisis Author:John Major
“Back in 2008, candidate Obama called a $10 trillion national debt 'unpatriotic' - serious talk from what looked to be a serious reformer. Yet by his own decisions, President Obama has added more debt than any other president before him, and more than all the troubled governments of Europe combined. One president, one term, $5 trillion in new debt.” GovernmentPresidentTermDecisionSeriousEuropeDebtCandidatesPresident ObamaReformersNational DebtUnpatriotic Author:Paul Ryan
“The build-up of personal and collective debt in America and Europe should have sent warning signals to anyone familiar with the biblical institutions of the Sabbatical and Jubilee years, created specifically because of the danger of people being trapped by debt.” PeopleShouldYearsAmericaDangerEuropeShould HaveInstitutionsDebtFamiliarCollectivesWarningTrappedBiblicalSignalsJubileeSabbatical Author:Jonathan Sacks
“Well, as I said, you know the issue of Greek debt, they've grasped the principle of debt reduction. I think most people would argue that probably more needs to be done on that front, and they've just begun to take the first steps to accepting that there's going to have to be much closer economic integration in Europe.” PeopleThinkingKnowsNeedsFirstsWellsSaidDoneAcceptingStepsPrinciplesIssuesEconomicFrontsEuropeDebtArguingGreekFirst StepsIntegrationReductionEconomic Integration Author:Vince Cable
“One by one, these governments came undone, and were forced into IMF tutelage (and national illegitimacy) by the careening oil prices, the debt imbroglio, and falling terms of trade. The last of these governments to fall were the Communist regimes of eastern Europe, which have now gone the way of other Third World countries. The second in the cascade of bifurcations is thus symbolized by 1989.” WorldWayCountryGovernmentLastsFallTermGoneCapitalismEuropeThirdsTradeDebtOilCommunistRegimesEasternUndoneThird WorldEastern EuropeThird World CountriesCascadeImfOil PriceTutelageBifurcation Author:Immanuel Wallerstein