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I don't agree with that statement. The euro is not breaking up the European Dream... the euro is simply making all the actors aware of the fact that a common currency requires a common state, at least a federal state. Now here we are. We are teetering on the verge of implosion and yet, we always find a way out. The 1è states that share the euro have no desire to dump their currency however it's become clear that integration must go much quicker now. The F-Plan ( F for federation) says .... 10 years! Thats far too long. Our leaders muts find a way acceptable to all ( even the EZ states that agree to fedeartion reluctantly like France) leading to Plitical Unionw ithin less than a decade. A Banking Union, Fiscal Union and Budget Union, treasury, Upper House representing the states etc.... are all part of one clear plan, transforming radically the EZ into a fullfeldged federation...This process will take time but it will eventually work not without problems since 8 states are not in the euro and the major one, the UK. I think that the UK has already integrated the very fact that it will either leave the EU altogether or try to negociate a specila deal with the nascent Federation of the EZ 17 states. How? I have no clue.... BUT the EZ will act as one before "becoming" one.... I do understand London's fears but the UK has always been virtually a non member,waiting for the EU to implode... That won't happen. the UK should consider the time given to try to think about its membership and why it went wrong. Eventually offering to its citizens a referendum on in or out. There is one thing the UK should learn from that crisis, is that it has no leverage on our decisions....and counting on a euro break up is blindness. No one, neither Frence, germany nor even Spain will that let happen..... backed by over 300 million EU citizens!
There is one very important word missing from your discourse: democracy. Holding a gun to voters' heads and saying that if they don't vote for something they will be bankrupted is not a very positive, idealistic or even stable way to found a democratic European state. It is union by blackmail, pure and simple.
When people wake up and realise they are now governed by foreigners under laws that may be harmful for their own nation's interest, then there will be an almighty reckoning. If this is a marriage, it is a forced one and it will end in tears and recriminations.
Dear RobertLondon, Your reply/comment implies that the EU and the EZ are not democracies.....I assume then than over 300 million citizens have been obliged against their will to adopt the euro? Then our "elected" politicians in democratic elections are not elected democraticaly.... Is that what you mean? Your anti-EU rant and mostly English anti-EU rant and constant bashing is simply...... hard to understnad for EU continentals. I guess that 40 years of membership has not hepled much, has it? You still believe the EU will eventually decide to adopt the UK stance of a "only Free tarde zone"? Don't count on that....You don't want to be part of the EZ, fine....you don't want to adopt the euro,... fine.... You do not want to be part of a larger EU passport free zone.... fine/ So what the heck are you doing in the EU? Now, let me tell you something.....Why doesn't your Gvt tell Merkel, Hollande, Monrin Rajoy and all the other head of states that they are wrong and the UK 's vision of the EU is right.... but, could you help me please...? What is the UK's vision for the EU?????
have a good day.
"I assume then than over 300 million citizens have been obliged against their will to adopt the euro?"
How does anyone know? Many of them never got to vote on it, let alone have any kind of public debate about it, did they?
And when they do get to vote on anything regarding Europe, their expressed will is usually disregarded as somehow being based on ill-informed populism. They are either asked to vote again till the "right" result is achieved or their vote is simply disregarded anyway.
The aggressive way in which you react to anyone who mentions the word "democracy" really does betray the demagogic instincts of both yourself many Euro maximalists and their disregard for basic principles of how to govern society.
That's no coincidence, because all these little EU-ers and EU-federalists are hostile to democracy and think the central planners must not be subject to democracy, elections or referendums. Because think of the horror: the peoples might elect the 'wrong' politicians who will roll back the EuroSoviet.
" Many of them never got to vote on it, let alone have any kind of public debate about it, did they?"
That instead is the norm in the UK, from basic adoption of norms to budgets, to expenditure cuts... you all personally vote them. Lucky you guys, we don't have that in Europe. Normally the people we vote into power do that kind of stuff, and if they try to cheat on us we can still change vote orientation 5 years later.
"That instead is the norm in the UK, from basic adoption of norms to budgets, to expenditure cuts... you all personally vote them."
Your sarcasm is utterly wrong and misplaced. When we in the UK are facing a major constitutional change, for example changing our voting system or , we DO get to vote on them, as we would have done on any move to join the Euro or to adopt a European constitution.
Face facts: Eurofederalists, you among them, basically don't want people to vote on their grand schemes because they hate and fear the democratic will of voters.
I wouldn't mind a vote, as many other "Eurofederalist" (whatever it means to you), I guess. It would in fact settle things and possibly even surprise all of us in terms of results. Those who don't want a vote are our politicians, including the UK ones. What I keep on saying, don't blame to the EU the ineptitude of your own leaders.
Great cartoon!
"The debtors plead for mercy, but the creditors think they must suffer for their sins."
The problem is not to suffer for sins, the problem is to know whether a debtor should reimburse its creditor or not. When a country, as Burkina Faso for ex, is following an IMF stand by, you do not care much whether it should follow an adjustment programme. Every country including European countries should be treated the same way, isn't? We cannot have strong policy for poor countries and lax ones for rich ones. In addition, the public-debt ratio is above 60% of GDP for all EZ countries except five small countries, this is not consistent with a monetary zone. It is against the rule fixed by the Maastricht T. This iron law was not respected and now, politicians/Economists are looking for excuses.
Now all fancy explanation are given to explain the euro crisis except the one which addresses the cause. Let's imagine EZ countries with a public-debt ratio<60%, with one exception, Greece with a debt ratio 160%, will you have an euro crisis? I don't think so.
The interest rate argument "one size fits none" seems overblown. The interest rates is determined by the debt situation of each country (public and private) more than by the Central Bank.
The idea that the euro is a failure for lack of a federal state is typically a utopia. Why a unique currency is not possible if the EZ Governments respect: 1) one fiscal rule: a public debt ratio<60% of GDP (no ECB bail out for EZ countries) and 2) there is a unique and centralised control of banks by the ECB, so that it can play the role of lender of last resort for banks (and not the state).
Joint debt issuance is not a logical solution, budgets are national (and will continue to be), debt are national, do you think that Germany is going to guarantee debt they do not control, will UK do it? Joint Eurobonds, more Europe, more growth are slogans for politicians who refuse to adjust and look for excuse…
Now, I don't think that euro countries will be able to service their debt as African countries, so an High Indebtness Rich Countries initiative for irresponsible governments may be necessary. This is not with Eurobonds that you will address the issue.
007, thank you for your excellent analysis. You hit that nail square on the head!
Thank you very much, cheers
You are wrong - where have you been the last several years?
Both Ireland and Portugal were disciplined observers of the Treaty - more so than Germany - yet they were among the first countries to buckle.
Slovenia still has only 50% debt-to-gdp, but the yields on its bonds are now HIGHER than Italy's.
Likewise, Slovakia has a low debt level, but is paying interest on its bonds that is only 50 basis points lower than Italy's.
And, Spain long had a lower debt level than Germany (as of 30 June, it still does) and was for 15 years, mostly on this basis, rated higher than Italy - and yet it is Spain now looking for bank bailout money from Italy, and not vice versa.
So, obviously, the overall debt-to-gdp ratio is not the only story - even if it is the only one Germans seem to understand. If Germans had not been so fixated with this story 20 years ago, they might have accepted Italian arguments that private debt was just as important as public debt and perhaps we would have included a Maastricht criterion for aggregate private debt.
Have you perhaps read the article in this issue on Cyprus? When they joined the Euro, they had a 3.5% budget surplus and total debt below 60% - yet now they too are forced to request aid.
The nail has not been hit on the head. Instead, Germany is administering hammer blows to its own balls with these stupidly bankrupt economic theories - and the rest of us are also obliged to beat our own balls with hammers in a line.
Maher is absolutely right. It is not the Euro which is a failed idea - it is Germany in the Euro which is incompatible.
How hard can it be to understand this?
Keeping the Euro requires FISCAL UNION which requires POLITICAL UNION.
Countries who do not want to share sovereignty can exit the currency and that is it!
We cannot go on like this forever. Design a Federal Union and put it to a vote. Countries that vote no will then be expected to leave the Euro and the EU.
"Design a Federal Union and put it to a vote."
Well, didn't they try to do something similar with the referenda on a European constitution?
Remind me, how did that one go?
And we will vote no, leave and be better off. Let Club Med vote themselves into a Southern European Soviet and see how that 'benefits' them. You see, you 'integrationaists' always seem to think that 'more is better', and you are wrong.
The problem is that a no vote amounts to a veto. If a country voted no then it shouldn't stop other countries from going forward.
As i said a country that votes no should then leave the euro and the EU.
And how would that have worked, for example when the French rejected the Constitution in 2005?
Presumably you are saying it would have been forced to leave the EU.
And what if they DO leave the Euro and the EU and yet manage to prosper? Isn't that the real danger. It would definitively put a bomb under the entire project.
Willingly or not, I think the first candidate for that role will be the UK. Eventually we will be faced with a choice of joining a federal European state. We will say no, prosper nonetheless and the Euro maximalists' bluff will have been called in a very definitive way.
To me, the key message of the summit reads:
And again, the Germans are forced to pay tributes.
If that is true, then why is it I as an Italian atheist and Leftist have had to deal at the ballot box with the propaganda emanating from two foreign "emperors", first Wojtyla and now Ratzinger?
Your precious "Mutti" did nothing to censor or critise Silvio Berlusconi when he was destroying our democracy. As recently as 2008, Merkel gave orders to the German Christian Democrats in the European Parliament to support Berlusconi against a motion of censure against his undemocratic domination of the TV and print media in our country. As recently as September of last year she was still covering for Silvio - talking about how serious and credible his government was. This, at a point when even his historic supporters in the Vatican and the Confederation of Industry had abandoned him.
You are welcome to take back your bishop - and transfer the entire Vatican with him to Germany...
"the Germans are forced to pay tributes."
What planet do you live in? It is Germany that is forcing non-European countries to pay "tributes" through never ending IMF eurozone bailouts. We are currently on the 3rd IMF eurozone bailout and need I remind you that the USA is the largest contributor to the IMF?
The world outside of Europe is getting pretty tired of paying tributes to the IMF to bailout the stupidity of Germany & other EU members for allowing Greece into the eurozone. Why do you think a Canadian reporter pointedly asked Barosso at the recent G20 summit why north Americans should pay for RICH Europeans through IMF contributions?
BTW, Has Zimbabwe contributed yet? Oh well if EU browbeating does not work with them, there is always Somalia.
Really? Do you still believe Greece is the root cause of this mess? Well well, mighty Greece!
Yesterday it was not Italy and Spain who had their way,it was the Bankers,super-profits when an investment is good and if they mess up no loss!, the tax-payer gets to pay,and this time its not the citizen of a nation but the citizen of E.U,most people here will say "but if the bank defaults we will loose our deposit's", not neceserilly,E.U should create a law stating that if a bank gets help from ESFS or ESM that help will come in the form of a loan, money will be taken as interest from the profits when the bank starts to have some, that way its less taxes for the citizens and bankers will think twice before making bad investment's.
the answer has DIE ANTWOORD
U gotta love it when British analysts chide Europe, telling Europe what to do whilst gloating at the Euro's crisis.
Guys, you will share the fate of Europe, as 1940-45 should make very clear.
To all those analysts in The City: YOU helped bring about the crisis, and YOU, rather than the failings of the Euro itself, is the real cause of the misery we find ourselves in.
Of course the Euro was a weak construction in the first place, but so was it predecessor the EMS - just look at the Sterling crisis in the 1990s. We ARE interdependent and will remain so.
Well said.
The euro crisis a self inflicted EU mess created by the reckless spending of southern European countries who went on a spending binge when the euro gave them cheap credit and the reckless lending of German & French banks to bankrupt countries.
In fact the euro crisis first started when the Greek government finally confessed after 10 long years that it had been cheating on its budget numbers and the markets reacted when the true extent of Greece's deficits became known.
This in turn led to an European banking crisis when it turned out German and French banks were holding trillions in worthless southern European debt.
Nobody put a gun to German & French banks to buy anything from the 'City'. They did it out of greed because they thought they could get higher returns.
Likeswise no one forced German and French banks to lend money to bankrupt countries, they did it because they could get higher interest rates on their loans due to the low credit ratings of southern European countries like Greece.
The greed and incompetence of European banks chiefly German & French banks is not the fault of others.
emma: "This in turn led to an European banking crisis when it turned out German and French banks were holding trillions in worthless southern European debt."
Stay a least somewhat in the realm of reality when you post your ignorant imaginations.
The highest exposure German banks had to Greek public borrowing was $26 billion, roughly 5% of Greece's total sovereign debt.
You ignorant moron seem not even to know in which magnitude of numerals the dimension of "billions" and "trillions" are located.
"Guys, you will share the fate of Europe, as 1940-45 should make very clear."
Which means it is all the more important that we point out when things are going hideously wrong, as they are at present.
"To all those analysts in The City: YOU helped bring about the crisis, and YOU, rather than the failings of the Euro itself, is the real cause of the misery we find ourselves in."
Er, so basically you are determined to ignore the very clear evidence explained in the article about what has happened as a result of the currency union in favour of some vague assertion backed by no evidence whatsoever that it was "all those evil capitalist Brits who did it"?
There is never anyone so blind as someone who doesn't want to see something.
"Likeswise no one forced German and French banks to lend money to bankrupt countries"
And no-one forced the bankrupt countries to borrow money.
No, but Germany did force Greece to continue with its purchases of unnecessary and defective German arms last year in exchange for aid.
Those who claim that Greece supposedly falsified its economic statistics in order to gain EMU entry misinform on the following: In 2004, four years after Greece's eurozone application had been endorsed on the basis of those statistics, the newly elected New Democracy government decided to change the method of recording defence equipment expenditure, so as to lighten the budgetary burden during its term of office.
This change meant recording expenditure upon payment of the deposit, instead of recording it upon delivery, as had been done by the government until then. However, this change had the effect of increasing government deficits prior to 2004 and thus damaged Greece's reputation. The allegation that Greece had entered the eurozone by falsifying data made headlines in numerous newspapers around the world. Unfortunately, the assertion was also adopted by many politicians in the eurozone and is repeated to this day.
But the allegation indicates ignorance, not to say hypocrisy. Because even including defence expenditure upon order and not delivery, under the new recording method the revised state deficit figures in the critical year (1999) became 3.1% of GDP against 2.5% of GDP previously. The precise figure was actually 3.07%, according to Eurostat (AMECO). This deficit is still lower than the equivalent revised deficits of other member states that were assessed on the basis of 1997 statistics, and which formed the first wave of member states that created the euro area in 1999. The AMECO website shows that many other member states entered the euro area with state deficits that were higher than 3.1% of GDP. But there is little public reference to this fact, even though many of these now manifest similar problems to Greece.
What happened later, in 2006, was in complete contrast: AMECO (Eurostat) decided that the correct method of recording defence equipment expenditure was upon on delivery of equipment – the very same method that Greece had used prior to 2004.
An attempt has been made recently to defame Greece in connection with a conventional currency swap between the Greek economy ministry and Goldman Sachs at the end of 2001 – one out of hundreds transacted at that time by all member states in straightforward acts of public debt management. Once again, it was said that Greece had cooked its books so as to enter the euro area: again this became a headline and was adopted by many politicians. Yet the fact that the swap took place two entire years after 1999, the year on whose economic data Greece's entry to the eurozone was decided, and one year after the European Council of Santa Maria da Feira endorsed Greece's entry, appears to have been forgotten.
Read more: http://www.pro-europa.eu/index.php?option=com_content&view=article&id=18...
So, who's foolest between the careless lender and the hopeless borrower?
What was the point of posting an analysis of this problem the day of the brussel's summit? A few hours later a major new bank support program was announced, rendering the article immediately out of date and irrelevant.
Come on, TE, you're better than this.
If Euro dies first, EU will implode terribly. Euro,for all its failures,is holding a vast majority of the people dear and together.Britain should leave the EU on its own,or better,propose an alternate monetary union with Switzerland and non-Euro countries with better free trade structures, to counter the dominance of the Euro. Britain shouldn't definitely try to divide the EuroZone;we have already seen enough in the Indian Subcontinent and seeing it even today in Palestine.
And that is exactly what Britain will try to do, and for exactly the same reason. You don't have to believe, just keep your eyes open and continue reading The Economist.
It is a reasonable bet that the FIGS are not capable of reforms of their economies within a reasonable time-limit. Anyone who foresees a shining future for the euro 17 is seriously over-optimistic. The UK is of less importance to the future of Euro-call-me-Disney-land than the poor relatives-who-won't-change-their-profligate-ways.
Britain's reforms, what a progress !!!
Nonsense, the Euro is the cause of the current crisis and problems.
Better off without the Euro.
This is not at all like "Charlemagne". It is more like the British who do not want a unified Europe. The sad thing is we are talking of nationalities like their people are all the same in Germany and everywhere and this is not true. And you don't understand what and why the EU was set up like it is. The purpose was to make people equal in power and not unit. And it worked. We are betting on all of the war makers are now dead and those who are now in power can think in terms of what has to be done to unit your people like our people live together and obtain a better life for all of you. If Germans can live together here with others, they can there too. That is what I want. Save the euro and dumpt the EU is the way to go. Germany and France have enough people and the will to come together in peace and the British must either help, or leave them. alone. The EU must be remade. Mrs.Merkel is off to a good start but it is only a start. Everyons know that there is more to be done.
The worst decision Britain made in the past 40 years was to join the European Union rather than having a broad free trade and commerce agreement with it as Switzerland and Norway, super rich countries, do!! The best decision Britain made in the past twenty years was to
reject the poorly conceived and weakly managed Euro. Sour grapes for Britain's foresight is not a convincing argument.
The worst decision Britain made in the past 40 years was to join the European Union rather than having a broad free trade and commerce agreement with it as Switzerland and Norway, super rich countries, do!! The best decision Britain made in the past twenty years was to
reject the poorly conceived and weakly managed Euro. Sour grapes for Britain's foresight is not a convincing argument.
One cannot help but think also that all the venom and scapegoating of Britain from certain quarters in continental Europe blaming the 'City' for the euro cisis is a sign of their frustration that Britain was right about the euro in the first place and made the right decision to stay out of it.
If you recall when the UK said no to the euro 13 years ago, it was bashed by EU leaders & media as "bad" Europeans.
I can't argue with you on what you say. You British should have never involved yourself in the EU because you can get along with out it. You should now withdraw from the EU.
Another week, another point missed…..
Comes with a health warning – might be a politically incorrect rant, so read at your own peril.
Even the title being misleading – "Europe" on the racks – well, no – it is the Euro. This (French) idea to get rid of the strength of the Bundesbank, to save French pride …. And now pulling everybody, inside and outside the EZ, over into the abyss. [rant off, but I had to get it off my chest]
There massive interregional differences in productivity and growth, and the Euro devoid of any mechanism to deal with the arising disparities. (Argentina and peso/dollar peg, anyone?).
"one interest rate for all" – one currency limits the mechanism's that allow the adjustment of relative prices to deflation (if the shared currency is managed to suit Germany, which it is) in countries with less productivity growth rates. Add less efficient administration, a dose of corruption, some cultural difference (sensitivity to inflation) and the recipe leads to disaster, as we all witness.
The elites in the periphery do not want the structural reforms necessary to assuage the cores needs, (the Italian reform train stalled and is wrecked – nicely showing that it was never about reforming, but about pretending to reform and change nothing!)
Neither do they want to delegate "real power" to Brussels, which would be tantamount to letting the Core (mostly the Germans) taking over all over Europe – which is the pre-condition for more shared liabilities from Berlin's point of view – and rightly so.
Yes, Charlemagne, the Euro does not work. (it never could, it was conceived with lethal birth defects) . However, it was imposed in vanity and deceit – even EU bureaucrats cannot defy gravity (economic reality) forever. Nobody really wants the reforms and power transfer to Brussels – so there is the point in time where you have to agree to disagree.
We all need more sensible economic management, better incentives, to at least partly protect living standards in Europe. This entails:
Break up the Euro – Germany, NL and Finland (Austria with a question mark over banking exposure) probably should go together, if they can manage it.
Save the free-trade all over Europe and align, tax, legal, service regulation (seriously, not like up to date), to allow competition, and pull any reform-resistant elements over the finish-line – the only way to do it. As soon as they manage to reform VAT seriously and properly, we are talking (only possible if power is partly transferred, a good test case).
I fear this will have to be imposed by fate, not by choice, because it will reveal one of the best kept secrets of the EU – the parity between Berlin and Paris, which is no more. Paris will through a tantrum – possibly is already behind closed curtains. However, I do not see any reason why the rest of Europe, whether core or periphery should be sacrificed to save French pride.
And a disclaimer – I know I am cutting corners (space limitation). However, please read previous posts, it is all there, for you to check….
"(the Italian reform train stalled and is wrecked – nicely showing that it was never about reforming, but about pretending to reform and change nothing!)"
What an asinine opinion, ungrounded in reality and based upon racist prejudice. Please leave the Euro, now. Do us all a favour.
There was and is no real problem with the concept of a unified currency. The problem is Germany. The problem is German mental inflexibility.
The Euro should have been based in Paris and should have started without Germany.
Missing more points:
- Italian labourmarket reform - quietly buried recently, and others not even started - or do you have examples for reforms that are enacted, are working and showing effect? Pensions? Tax evasion? Mafia penetration? (the later I was told by Italians - is beyond the point of no return....) What about recent rumors the parliament not supporting Monti anymore? What about rumors Silvio preparing for return?
- a shared currency is a problem, huge, if productivity growth rates are too different, and there is no transfer union (as there is inside Italy and Germany, US et al) - and always has been and always will be
- German "mental inflexibility" is nothing more than being opposed to inflation - and it was a well known fact (the big fallacy of Euro creation - the founders thought they can have it both - a strong currency and going on like before - eating your cake and keep it - never works). What I hear, Berlin is much more willing (too willing for my taste) to cede powers to Brussels than anybody else. Bashing the Germans has become quite a little bit too popluar which only leaves the question -who benefits?
- the EURO was about getting rid of the strong German currency, to break the power of the Bundesbank (created on the back of capital exports and monetary discipline), hurting French pride about the diminishing exchange rate from 1:1 to 1:0.33 - starting the currency union without Germany would have missed the point at the time, including Italy, Spain et al was about to balance German power for the benefit of Paris
Were we agree - the core should leave the Euro - asap.
However, I sincerly doubt Paris wants to bankroll Italy, Spain and Greece.... on her own....
Dear MilovanDjilas, let me cite from The Economist, "Monti's battle for survival", June 30th:
"Even some of Mr Monti's ministers accept privately that one explanation for the widening bond spread is a gradual loss of the government's reforming momentum."
"Even so, the employment-law reform, along with several others, has been watered down by the parties that give Mr Monti's technocrats their parliamentary majority. And, to the frustration of the premier's admirers, he has shrunk from using what was once the most powerful weapon at his disposal: threatening resignation and leaving the politicians to take the blame for a bond spread that would have spiralled out of control."
Italian politics was, is and always will be rather a joke than serious. That is why Italy was, is and always will be a rather unsuccessful economy compared to Northern Europe. What is more frightening though is the distorted perception of Italians like you which will make progress even less likely.
You are out of your mind and out of your depth.
Please explain to me in which democracy a president or prime minister presents a proposed law that passes in its original form? It is called parliamentary democracy and the senators and deputies are correct not to roll over without performing their representative role.
The reform of the labour sector is quite controversial. An important reform has been passed/achieved, without bloodshed and respecting democratic rules of debate and voting.
To state that a Minister "accepts privately that one explanation... is a gradual loss of momentum" is a cowardly and baseless attack upon our country. That is a very serious charge to make. Back it up - or shut up. If a Minister believes thusly they should resign, and stop taking €16,000 monthly salary from the taxpayers.
The Confederation of Industry represents Big Business in our country: they were never going to get the reform THEY would have wanted. The labour unions have now accepted a reform they are unhappy about, but compromise is the stuff of democracy.
Monti has not "shrunk" from doing anything. He can resign at any moment. As he has stated, "When have I ever used the word 'Austerity'? Italy needs to get its accounts in order, and this is unavoidable." He has also been accused of not being an Italian "Thatcher" to which he responded "I never wanted to be Thatcher."
MY "distorted" perception of the peninsula is that of a university-educated citizen whose family has participated also at high levels of government in episodes of our past history. I assure you we know our own country better than prejudiced northern Europeans do.
"Physician Heal Thyself!"
Yet another important reform was passed two days ago - but you are not interested in facts, only your prejudices, so I am not really interested in wasting time with you.
"This (French) idea to get rid of the strength of the Bundesbank, to save French pride …"
Apparently you're alone to talk of saving french pride, actually it was all about the german bluff to be unveiled !
Note, that were Italy and Spain that made the good job, France was a spectator !
you're still thinking with old schemes, France vs Germany hegemony, that was already Bismark's obsession, whose main policy was trying to isolate France, each time you wanted to rule Europe it ended badly, because you're too rigid, you want to punish populations that aren't responsible for your banks mess, I'm afraid to remind you, The Anglo-Americans have a better analyse on how cooperating with countries with different life levels, even the Chinese !
Go back to your DM, and leave the other counties having a bit of fresh air
Joe: "The Euro should have been based in Paris and should have started without Germany" . . .
. . . But instead Germany was arm-twisted into the 'disastrous' Euro by Mitterrand in exchange for France's acceptance of Germany's reunification.
mere bias from german uber alles propagandists
Italy's premier foreign affairs journal is called "Limes" (which is an old Latin term for "borders").
The theme of this quarter's issue is that, the Euro, as a French attempt to harness unified Germany, has failed. Failed because the Germans did not really want, and in a pinch, are willing to risk NOTHING to save it.
And so we find ourselves in the idiotic situation, often commented in this newspaper, of merely replacing debt with debt, because apparently the Germans were unable to countenance gifting a few billion to save Greece when this tempest was confined to a mere teacup.
And the French find themselves (like Italy) prisoners of the same straitjacket they attempted to fit on Germany - but in reality France has a much more global geopolitical presence than Germany, much like the UK, and could more easily thrive without the Euro.
I am not sure I agree with this interpretation, but it has its followers here at high levels. In any case, I have been writing since the beginning of this crisis over two years ago that the real problem was always going to be Germany, which never really wanted the unified currency and would reveal itself to be the true "soft underbelly" of the Euro for the speculators to attack.
Except of course that the Germans are too macho to admit to being "soft" anything, so of course they dress up their unreasonable fears in the language of the "virtuous" (which they are not).
Considerably better than the unhinged comments in The New Statesman and better than some of your own recent articles on the €-crisis, but still bad:
Europe is not on the rack!
Some Euro-countries- TE used to call them PIGS - have to pay very high interest rates because creditors do not trust them as they are not fit for the world market and they are doing too little to put their house in order.
This is how capitalism works as a business paper should know. It is not gratuitous torture, it is not a German power grab. If you play against the rules of capitalism, you can´t and don´t deserve to win. If on the other hand you make the right moves, like Portugal, you will see your interest rate go down. That´s how the system works.
Giving even more money to Greece is like sponsoring a long-term junkie financially simply because he has promised you that this time he will reform.
Angie rules okay
Funny cause Portugal is still in trouble. You can't grow yourself out of trouble when the entire world is saving. Those with money should spend more and those without should save. Doing both at the same time is global financial suicide.
Euro countries pay high interest rates because they are not masters of their own currency.
The idea of putting a house in order is fine, but is irrelevant to current crisis, and definitely is not a viable, realistic solution to crisis.
There are only two possible final solutions: more Europe, a federal state, or division of euro, and obviously less Europe.
There is absolutely no chance of saving the crisis only by implementing reforms in countries that are in trouble.
Continuing austerity only rises the chances that solution will be less Europe.
Dear korkyrian, let me show you the flaw in your argumentation: "Euro countries pay high interest rates because they are not masters of their own currency." But the Netherlands, Germany, Finland, Austria, Estonia, Slovacia, ... are not masters of their own currency. But they pay very low interest rates. The difference to those who pay high interest rates is that investors think it is likelier that they get their money back. And they think so because these countries have put their house in order. Any market manipulation - by Euro Bonds, printin or whatever - won't change any fundamental differences between competitive and uncompetitive countries. Without "putting a house in order", Europe is ment to fail no matter how much financial alchemy is used. That's why "putting a house in order" is not only fine but essential and the most relevant to the current crisis.
Portugal's bond yields are decreasing permanently, they are below 9%. Portugal's growth forecasts are improving, Portugal's trade balance is improving very fast, there is already more liquidity entering the country than leaving it. Portugal is doing an excellent job if you consider the circumstances and will eventually grow out of this mess.
dear pacta, your argumentation is fine, but there are enough examples that proscribing one recipe for all problems causes more problems than solutions. You seem to be ready to defend the position of someone who would like to eat his cake and keep it, too. Think about following; if former DDR was treated by your recipe it would still be uncompetitive. The countries that should improve their competitiveness should be offered the same interest rates, that competitive countries already have. It is simple, either europe is one state in the making, or it is not. For uncompetitive countries there are only two choices, either do it in their own tempo, with their own currency (that means the end of euro)or do it in a common state (that means borrowing under the same rate).
You seem to prefer keeping northern banks borrowing to your fellow southern european citizens under high interest rates. I hope you understand that you are actually promoting the dissolution of EU and euro.
In a world where nobody is left "with money", where all are up to their neck in debt, there is nobody left to "spend more".
You can't grow your way out of this period, and not just because the system itself is unsustainable, but also because the economic growth period for the western world is as good as over.
"but there are enough examples that proscribing one recipe for all problems causes more problems than solutions"
Exactly, and that's why we should abolish the EU (EuroSoviet) and abandon the Euro. The EU's endless 'one size fits all' solutions (usually more like a 'one size fits none') are the problem here.
Down with the EuroSoviet and down with gleichschaltung.
The existential cost of a breakup of the EU used to be substantial, given that the project was intended to avoid the dynamics that had led to a half century of global war. But Germany has now finished rising; the UK remains strong; the French remain French, and the real question is whether the Americans can tolerate the rise of challengers (especially China), and whether China can rise gracefully without fragmenting. The existential cost of a failure of the EU is therefore much smaller today than perhaps just decades ago. For many Europeans, however, the efficiency that the EU encouraged, tho partial, has been rewarding, and the regression to extremism and nationalism that the Euro is engendering unfortunate. The real policy goal, therefore, should be to eliminate the Euro as currently constituted as quickly as possible, thereby reducing its caustic effects on the EU project, while recognizing that saving the Euro, and even the EU, at any cost is no longer an existential necessity.
Yes, it is good that Germans declare that they don't want to rule, if it means paying, in fact, it is essential for Europe.
Division of Euro would undoubtedly make Germany a master of Europe, in 99% percent of possible future scenarios, short of nuclear war between North and South. In a few years northern euro, or new D mark would rule entire north and eastern Europe.
The only way to control Germany is confederal European state, the only way to control the European state is democratically elected European Parliament.
This is not a bad start.
Yes, it is good that Germans declare that they don't want to rule, if it means paying, in fact, it is essential for Europe.
Division of Euro would undoubtedly make Germany a master of Europe, in 99% percent of possible future scenarios, short of nuclear war between North and South. In a few years northern euro, or new D mark would rule entire north and eastern Europe.
The only way to control Germany is confederal European state, the only way to control the European state is democratically elected European Parliament.
This is not a bad start.
There is no 'European demos' so by definition there is not nor can there be a 'democratically elected European Parliament'. This 'Parliament' has the same democratic legitimacy as the old Soviet Duma: ZERO.
Dear friend, you read the article, and the commentaries. Very interesting discussion should not divert away from the main points. The Economist is a weekly edition and it is natural that it comments events as they unfold. It is easier for us, commentators to take a longer, more strategic view. The situation is not very complicated, the choices are few, and are quite obvious. Status quo is impossible, a decision has to be made, whether to keep the euro, and form a EU state, and give it legitimacy by relying on democratically elected bodies of government, or to find the way out of euro, back to D-mark, drachma, lira... Both choices are equally legitimate, you, as well as I may prefer one over another, and may try to put forward argumentation for your choice.
One of the most important points, especially for the German commentators is the fact that this time, they will be the ones to decide the future od euro and Europe. Don't be shy, Germans, open your eyes, think seriously, speak with you heart and soul, and decide for yourself.
This is the first time, in almost 100 years, that German people, and German elites will be the ones to decide the future.
So, your comment on European demos, may ring true at this moment, but is really irrelevant.
If the Germans, choose European integration and building of the European state, we will together form that European demos.
If the Germans decide otherwise, they should withdraw from euro, and the European Parliament and let someone else try to make it function.
It seems some information has being omitted in Charlemagne's analogy.
It may be true that the Eurozone is in a torture device, but it is not there by accident. The machine was built and set in motion by those now suffering. These also installed a failsafe, and placed the tools to interrupt that failsafe in a vending machine, thus guaranteeing that their pain could only be stopped with the expenditure of vast amounts of pointless spending on the part of others. Only after taking all these precautions did the creators of the device (certain southern european nations, and France) lock themselves in, activate the device, break the key in half, and begin calling for help.
If there is suffering, one must look to the cause in order to stop it. And it is simply not valid to assert or imply that those who refuse to be swayed by current extortion attempts of the profligate are "causing" the suffering. The suffering is in this case caused and extended by the "victims". Implying (using a torture metaphor) that the moral high ground is reversed is simply not consistent with the facts on record.
Thus, the analogy of a torture device is an unconscionably misleading example, which distorts facts and manipulates emotions, and is unworthy of this newspaper.
The new mottos of EU should be:
"In political correctness we trust... STEELY!"
"Beat me [add name of German chancellor in turn], but don't leave me."
That's the lovely thing about economics: pretty amusing to see white-collar bureaucrats 'explaining tomorrow, why the predictions they made yesterday, didn't come true today'... In open defiance of the laws of logic! Babbling so eloquently, they ALMOST have me convinced!
Correct in every respect. A significant milestone for the pro Euro Economist. Well done.
Now to the costs of managed break up. They are not greater than the costs of staying in the Euro as claimed. This is simply the worst kind of short termism. At every point in time the immediate costs of exit will be greater than staying in. But at every point, past and present and future, the long term costs of exit will be lower than staying in this infernal Euro. The boil must be lanced. TE should cover the options and explain why it can in fact be done. The mirror is already cracked, this taboo is no more.
Finally can we at last start recognising the individuals who promoted this disaster (the failures) should have their opinions down graded to junk whilst those that predicted precisely what was going to happen might be worth listening to. They have some ideas of how best to break up I hear. Listen to them.
Germany to exit and crystallise its massive losses in a new DM (aka Neuro). The South to keep the Euro and default, devalue and recover.
If Germany wakes up tomorrow with the DM instead the Euro, they would have a currency 30 % stronger and hence it would be a catastrophe to them. It's precisely for this reason that Angela Merkel wants to keep the euro at any cost while grasping the complete power in Europe.
Without the Euro, Germany would have more unemployment (which they eluded in the 2.000 thanks to the ECB and its loose monetary policy, so they didn't need to make the fiscal adjustments that now are depressing the south), their borrowing costs would increase because Germany wouldn't enjoy from this situation of being the haven for investors of the rest of Europe and finally its exports to the rest of the continent would hugely decrease, hitting its economy and forcing them to make great adjustments to stabilize its imports/exports.
Is this Italian, Spanish or Greek wisdom? "Give me your wallet or you'll burn in hell"...lol
"Finally can we at last start recognising the individuals who promoted this disaster."
Don't hold your breath. Europe's political class will scapegoat everybody else except themselves for their self inflicted euro mess. In fact it has already started.
According to Barosso, Canadians are to blame for the euro crisis too. This piece of wisdom was revealed after a Canadian reporter had the nerve to ask Barosso at the recent G20 summmit why north Americans should pay for RICH Europeans through IMF eurozone bailouts.
NO, it`s just an objective consequence of a fact. It´s just you who think that economics is a moral issue
All true. And all these things will remain true only the unrecognised losses will rise every day. Today I think, if you include Target II and other items, the total for Germany would take its debt to GDP to well over 100%.
The Euro does not work because it cannot work. Best if people faced what we now all seem to recognise as true, every day the costs of this folly rise so the only choice is to end it.
Debasing a currency is the the easiest thing to do. Where do you get the bizzarre idea that Germany needs "help" for a feat that requires nothing more than flipping a switch (paper and ink optional)?
I agree with you. If we can't have a real central bank (ECB is a joke) and a real federal system (including transfers and fiscal redistribution) the euro is a complete non-sense. It's impossible to have the same currency and monetary policy for such different economies.
Yes, especially if you don´t care at all about the economic consequences of that fact. So I assume that you have no idea even of basic economy.
"Emma"- I'm a Canadian and I agree with your analysis of this turmoil as ridiculous.Our Prime Minister also made no friends in Europe when he stated clearly that Canadians would not contribute to the IMF to bail out Euro debtors. I believe Europeans should realize something very, very important. This crisis is an opportunity to once and for all limit the ability of government to borrow and spend. Politicians always want to borrow from future generations to buy votes today. This has been going on for centuries. This is the secret of crooks and socialists. The answer is hard work and lowered expectations. BE HAPPY AND EXPECT LESS.
RimbaudR: "If Germany wakes up tomorrow with the DM instead the Euro, they would have a currency 30 % stronger and hence it would be a catastrophe to them."
Nonsense, Central Banks maybe can't make their currencies stronger at will, but they always can dilute it - and thus devalue it - at will.
An 'unwelcomed' gain in value of 30% would only stay - and thus become a problem - if the Bundesbank would consist of total morons only.
If you dilute artificially a currency you always get nasty consequences related with inflation, savings and commercial disputes. I can't understand how some people think that this step has no consequences at all, and more importantly in a country that was depressing all Europe for its inflation's obsession in the 30's.
Different currencies trading at varying exchange rates were the ingenious invention of mankind to balance out economic variances and uneven productivity between the nations of the world. The Euro flagrantly disregarded and violated these differences. It was therefore bound to fail.
A New York times article also recently noted the sheer arrogance of European leaders in creating a common currency without a common government (political & fiscal union).
When the euro was introduced 13 years ago EU officials smugly predicted that their "superior" currency would replace the US dollar as the world's reserve currency SOON.
The hubris of Europe's political class is that they have come to believe their own lies about "superior" Europe and thought they were immune to the laws of gravity.
The hope that the Euro could ever become a reserve currency vanished with the "haircut" of the Greek bonds. Since then the Euro that was once believed to be inviolable is forever "damaged goods".
You must tell that to the EU elites and their megalomanic dreams of creating a superstate Europe.
While the European people may not share their megalomanic dreams and simply want a free trading bloc with free movement of peoples, goods & services, Europe's political class has different motives.
Europe's political elites have told themselves many lies over the years but by far the biggest lie they have told themselves is that they could create an United States of Europe.
"While the European people..." who are you to speak on behalf of European citizens?
If some parochial nationalists are against the EU doesn't mean everyone is against it...
If the current banking crisis in Europe is not solved, the EU can continue, much as it is, without a banking authority and a central bank. An orderly dissolution can still be worked out which might avoid the mess of random defaults, and maybe that's the most Europe can ask for at this point. Swedes, Finns, Brits, Germans, French, none will give up sovereignty under present circumstances. Save what's been accomplished, adopt the European Redemption Pact [to reschedule excess debt over 25 years] and look forward to another day.
oops! I forgot to add that a return to adjustable exchange rates in Europe will be necessary to get back to "status quo ante".
Until one country defaults.
Q: Then who picks up the tab ?
IF the answer is "nobody picks up the defaulting tab" THEN what?
hyperflow: You ask "THEN what", and I answer "what NOW". Unless European banks are recapitalized very shortly there will be disorderly defaults. A Redemption Fund debt would provide the chance of an oderly and structured unwinding of the euro. There'd be two advantages: Payments on Redemption Fund debt would be greatly reduced owing to rescheduling the debt over a longer term. In relative terms, payments for debtor nations would be further reduced by the differential in exchange rates with creditor nations. The incentive to repay rather than default on rescheduled debt would be the incentive to regain access to markets for future roll-overs at competitive rates.
Politics in New Zealand: A Winston win
Containing Iran: The Sunnis strike back
Middle East and Africa
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Harry Reid's retirement: Republicans get their wish
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The week ahead: Open to investigation
Emerging markets: Predicting the next crisis
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Nuclear talks with Iran: Distrust and verify
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Comments Thread For: Khan Will Not Wait For Peterson, Career Moving Forward
Richard Schaefer, CEO for Golden Boy Promotions, has advised BoxingScene.com that Amir Khan will not wait around for Lamont Peterson, and he plans to move his career forward. Last month, Peterson captured the WBA/IBF junior welterweight titles from Khan with a controversial twelve round split decision in Washington, DC. The WBA ordered an immediate rematch. Peterson and his team have appealed the organization's ruling.
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Could have fooled me with all that whining, crying, and mystery man card changing propaganda
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Just move on. You'll see Peterson again once he loses to Marquez or Pacquiao.
Lamont should rematch Khan, he didn't really beat him, even with the BS deductions. How did Lamont win more than 3-4 rounds in that fight??? And this is coming from someone who's not even a fan of Khan.
I had that fight 114-111 for Khan, even with the BS deductions. And without the BS deductions, Khan would have been the UD winner.
And I don't buy the "what goes around, comes around" thing with Khan. He beat Maidana fair and square, not by some BS point deductions for "pushing". This is boxing for christ sake.
I actually hope Peterson gets the Marquez fight, so Juan can school him.
I must say as well, I am not a fan of Khan-Mosley. It sounds just like "Let's put Amir in with someone he'll look great against, a completely past his prime Mosley. He'll whoop him, build a bigger name because a lot of casual american fans know who Mosley is". It's a crap fight.
Fight someone like Selcuk Aydin, Jan Zaveck, Senchenko, or Brook.
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What goes around comes around...same s*** u did to maidana.
No rematch.........
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you cant tell me those knockdowns were authentic
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If it was the other way around and Khan got a controversial decision he would be doing the same exact thing.
Does anyone really think Khan in this situation would give Peterson a rematch when he had Marquez and Pacquiao fights potentially on the table?
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let's see whether this gamble pays for peterson, beat Marquez then hope Pacquiao isn't locked in for Mayweather.
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The knockdown wasn't, but even then......how did Lamont win more than 3-4 rounds?????
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Khan should move on and fight someone else.
Peterson will lose his next fight anyway if it's against Marquez.
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Creator: Folger, Peter
Description: This report discusses gas hydrates, which are potentially huge resource of natural gas for the United States. The U.S. Geological Survey estimated that there are about 85 trillion cubic feet (TCF) of technically recoverable gas hydrates in northern Alaska. The Minerals Management Service estimated a mean value of 21,000 TCF of in-place gas hydrates in the Gulf of Mexico. By comparison, total U.S. natural gas consumption is about 23 TCF annually. Gas hydrates are both a potential resource and a risk, representing a significant hazard to conventional oil and gas drilling and production operations, and to date gas hydrates have no confirmed commercial production.
Contributing Partner: UNT Libraries Government Documents Department
Mexico's Oil and Gas Sector: Background, Reform Efforts, and Implications for the United States
Date: October 23, 2014
Creator: Seelke, Clare Ribando; Ratner, Michael; Villarreal, M. A. & Hagerty, Curry L.
Description: This report provides an overview of Pemex and the content and prospects for Mexico's energy reforms, before discussing specific issues facing Mexico's oil and gas industry. It then examines the U.S.-Mexico energy relationship through the lenses of trade and energy cooperation. It concludes by suggesting several oversight issues for Congress related to what the enactment of energy reform might portend for Mexico's economic development, the U.S. energy matrix, and bilateral or North American energy cooperation.
Contributing Partner: UNT Libraries Government Documents Department


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what music do you ws to?
I love the Moody Blues, Chicago and Todd Rungren.
What do YOU love to garden to?
My taste in music is like a cottage garden:
The London Symphony Orchestra "Angels"
The Harry Simeone Chorale "The Little Drummer Boy"
Led Zeppelin's "Kashmir"
The Police "Every Little Thing She Does Is Magic"
Rod Stewart's entire "Every Picture Tells a Story" cd
Shania Twain "Man, I Feel Like A Woman!"
Van Halen's "5150"
Journey, Dixie Chicks, Tori Amos, Alanis Morisette, K D Lang, Hootie, Clapton, Raitt, Joan Osborne, and the sound track from "Oh Brother Where Art Thou".
Lol, I got so caught up with my first time wintersowing on the solstice that I forgot the music! When I start seeds indoors I usually play the same music that I do when I cook: Ramones, Ani DiFranco, Chieftains, Rollins Band, and Yat Kha (in no particular order).
This year, I'm starting off with the new Paul McCartney (squeeeeeal!!!) album my daughter got me for Christmas...
"Miles and miles of English gardens
Stretching past the willow tree
Lines of hollyhocks and roses
Listen most attentively..." sigh...
We got Napster recently, and I got a new mp3 player =) It is about the size of a bic lighter and comes with a lanyard, and I use it whenever I WS. Right now its got a weird mix...
Tori Amos
Dream Theater
Violent Femmes
The White Stripes
Marylin Manson
Jane's Addiction
Lots of times, if its just me at home, I just put Scarlet's Walk in the stereo and sing along when I sow =)
Because I tend to get in a musical rut and stay there for a bit, my WSing this year is accompanied by New Order "Lies and Corruption" and Massive Attack "Mezzanine". I'm sure I will be throwing some U2 in there as they are my lifetime favorite, ever since I went to see them at a small club and they backed out of playing.
Me I like
Poison Ivy
Love Potion Number Nine
All the Girl Group Songs
In fact I love all the oldies. I got the Satellite for my car and when I drive up to CT to visit my daughter and her family I am just ROCKING up the ol' Garden State Parkway! The Little Old Lady from Pasadena has nothing on me!
Not to mention when I am winter sowing


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I have a '95 cirrus 2.5L V6. It just died one day while driving. So we looked into it. I took out my distributor and saw that there was oil on the end of it, is it supposed to have oil on it?
View questions for:All Chrysler
1995 Chrysler Cirrus
Chrysler Q&AAsk Your Question
1995 Chrysler Cirrus Question: I have Oil on my distributor
mikeallenmikeallen, Jerseyville, IL, November 30, 2009, 15:10
1 Answer
Answer #1patrick mannion from Greg Solow's Engine Room, December 01, 2009, 00:25Master
If there is oil inside the distributor itself the seal at the base of the distributor has failed. Oil should not be allowed to enter the distributor itself. A re manufactured distributor will be needed to keep oil out of the distributor.
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Hayling Island Sailing Club
Sandy Point
Hayling Island
023 9246 3768
023 9246 9381
|Dinghies Chichester Harbour Federation Week 2014
Event Results...
|318 Boats
|Nov 2014
|No Selection RYA Autumn Series 2014 Event 3 - 2.4mR
Event Results...
|10 Boats
|Nov 2014
|No Selection RYA Autumn Series 2014 Event 3 - SKUD
Event Results...
|3 Boats
|Nov 2014
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|Nov 2014
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|Criccieth Castle
|St Tudwal's Island
|Snowdonia National Park
|Llanbedrog Beach
|Glasfryn Parc
|Conwy Castle
|Nefyn Golf Course
|Bardsey Island
|Porth Dinllaen
|Price from
|Hayling Island
|Mill Rythe Holiday Village is nestled away on the western side of Chichester harbour on the fantasti... More..
Mill Rythe Holiday Village is nestled away on the western side of Chichester harbour on the fantastic Hayling Island. With beautiful beaches, stunning costal walks and world famous local attractions, Mill Rythe is the perfect base for business or pleasure. With an array of facilities and organised activities, archery, indoor swimming pool, pool tables and table tennis, it's all here. Alternatively the lovely landscaped gardens and waterside location offers you the chance to relax and unwind at your own pace. One of Britain's most important historic navel ports, Portsmouth, is just a few miles from us, where you can visit the vibrant and newly developed Gunwharf Quays or if history is for you, Nelson's flag ship HMS Victory. Our comfortable chalet style rooms include en-suite shower or bath, central heating, tea & coffee facilities and freeview TV and are situated around the village. We have a variety of rooms that will suit every taste, need and of course budget. Our large and spacious restaurant is perfectly positioned, just a few steps from our ballroom and under the same roof. Our restaurant is open for breakfast 8 am - 9 am and dinner 6 pm - 7 pm (subject to change, please check on arrival) and can cater for up to 500 diners and is used exclusively and inclusively for residential guests and has a set menu offering. Our evening entertainment is themed round our midweek and weekend breaks which are geared around our mature customers with such themes as Wartime & Music Hall, giving you plenty of opportunities to dance the night away. WIfi is also available in our reception area only. Majority of our breaks are for adults only, please check directly with Mill Rythe for family breaks offering. Please note:- Mill Rythe is a Holiday Village and not a hotel. Rooms are predominantly individual chalets. The restaurant is a large 600 seat restaurant which provides set menus. Mill Rythe specializes in Adult breaks for the over 50's and is a destination popular with coaching holidays. During the school holidays our breaks change to family breaks that are full of activities and entertainment.
|Sinah Warren is a tranquil paradise of pines and flowers, sea-birds and butterflies. You're as l... More..
Sinah Warren is a tranquil paradise of pines and flowers, sea-birds and butterflies. You're as likely to spot a Red Admiral from your sun-lounger as a salty sea dog out in the bay. And we chose our location with the utmost care, ensuring you can enjoy the finest possible views of stunning Langstone harbour and every opportunity to relax and take in the sweet, intoxicating sea air. Sinah Warren offers some excellent leisure facilities including: Fitness studio, indoor and outdoor swimming pools and spa pool, Sauna, steam roomStunning landscaped gardens, Breakfast and 3 course evening meal in the Arbuthnot Restaurant, Live entertainment. On a Warner Leisure Hotels short break there's live entertainment every night with breakfast, three course dinner and accommodation all included in the price. Please note all our breaks are for adults only. All members of the party must be over 21 years of age.
|The 4 star Langstone hotel is a unique property located on the north shore of Hayling Island with st... More..
The 4 star Langstone hotel is a unique property located on the north shore of Hayling Island with stunning views over the estuary and Chichester harbour located within 10 minutes drive of Portsmouth. The hotel has recently undergone a major re-enhancement programme and now offers exceptional facilities including a multi-leisure club and elegant beauty rooms. Dinner is served in our award winning restaurant with panoramic views over the harbour, offering quality food cooked from fresh ingredients. STAYING ON BUSINESS? Ideally located close to the M27 for access to Portsmouth, Hampshire and the South Coast, we provide FREE car parking and one hour FREE internet access. All rooms include Satellite TV, in room movies, spacious rooms. STAYING ON LEISURE? Ideally located as a superb base for discovering the New Forest, Isle of Wight, Historic Portsmouth and Chichester, the Langstone is located just 5 minutes from Hayling Island's two European Blue Flag award beaches. Large family and Twin rooms available with extensive modern facilities.
|This grade II listed building is ideally situated in the centre of Emsworth, only a few miles from P... More..
This grade II listed building is ideally situated in the centre of Emsworth, only a few miles from Portsmouth and Chichester. The Crown Hotel is an old Coaching Inn dating back to the sixteenth century and has been sympathetically furnished, creating a relaxing and comfortable atmosphere. We have seven en-suite bedrooms that are all furnished with flat screen television, Free Wi-Fi, and tea and coffee making facilities.We also have a Twin room, and a Double, that share a seperate bathroom. Ample parking is available.We do accept guests travelling with dogs but there is a £10 per night charge for this.Our kitchen is open lunchtimes and evenings and all our dishes are prepared with fresh ingredients. We use local suppliers for our meat, game, fish and vegetables. We also have a good sized function room which is suitable for business meetings or parties. The Crown faces the town square of Emsworth, an historic port that still retains its attractive harbour side location. Originally built as a coaching inn for the main thoroughfare to Brighton, The Crown has long been a focal point of the town's life and history.
|Created from 2 grand Victorian houses to offer guests comfortable and modern en-suite rooms, The Bro... More..
Created from 2 grand Victorian houses to offer guests comfortable and modern en-suite rooms, The Brookfield Hotel, between Portsmouth and Chichester, greatly enhances the experience of guests visiting the area. Near the costal village of Emsworth, a few minutes from Portsmouth and Chichester, The Brookfield Hotel offers its guests an outstanding venue in which to meet with friends, family and business associates. We provide attentive yet relaxed service to our guests, whether they are stopping by for a quick cocktail after work, or indulging in a relaxing dinner in our Hermitage Restaurant. Ample free car parking and complementary broadband connection are additional enhancements. All bedrooms (including bathrooms) are regularly refurbished, so whether you are attending to business or have the opportunity to enjoy a relaxing holiday, why not see what The Brookfield Hotel can offer you
|This charming English country hotel is situated in picturesque Bosham, just 4 miles west of Chichest... More..
This charming English country hotel is situated in picturesque Bosham, just 4 miles west of Chichester. The bright and airy bedrooms are individually decorated, and each has a flat-screen TV and tea/coffee facilities. The private bathrooms have a power shower and free toiletries. Free Wi-Fi is available throughout the hotel. There is a choice of two restaurants in which you can dine: the Millstream Restaurant is renowned for its fine food, which has been awarded 2 Rosettes by the AA; alternatively, Marwick's Brasserie is an exiting, modern yet modestly priced restaurant, set in relaxed and informal surroundings. Subject to availability, lunches and dinners are served in the Restaurant or Brasserie. Hotel guests can enjoy a sandwich in the Bar or order Room Service 24 hours a day. Afternoon teas are served in the leafy gardens or the cosy lounge. Full English Breakfast (£14.50) is offered the Restaurant or Continental Breakfasts (£9.50), can be served in your bedroom.
|Croftside Cottage - 4* quality Bed and Breakfast accommodation. King Size Double Beds. Free WIFI... More..
Croftside Cottage - 4* quality Bed and Breakfast accommodation. King Size Double Beds. Free WIFI. Close (3.5m) to City of Chichester and West Wittering Beaches - easy access to A27 - ambling distance of Chichester Harbour. Nearby Pubs and Restaurants serve good food & drink. Golf, Sailing, Surfing, Cycling and Walking Routes - all easily accessible locally. Please note we are a non-smoking establishment and are unable to accept pets. We welcome well behaved children over 12. Please allow 4 hours between booking and our normal checking in times of 1600-1830 (later to 2200 by prior arrangement).
|The Bear Hotel Havant near Portsmouth is located in the heart of the Hampshire town of Havant, with ... More..
The Bear Hotel Havant near Portsmouth is located in the heart of the Hampshire town of Havant, with easy access to Bedhampton, Hayling Island via the A27. The Bear Hotel is a traditional coaching inn has played host to Queen Victoria, Churchill and Eisenhower. Set in historic surroundings and located near the town centre of Havant, the Bear Hotel takes pride in its successful combination of traditional charm with modern facilities. An excellent base for exploring the surrounding area. Large car park
|AA 4 Star Bed and Breakfast Guest Accommodation with 30 en-suite bedrooms. Free Wi-Fi available. Non... More..
AA 4 Star Bed and Breakfast Guest Accommodation with 30 en-suite bedrooms. Free Wi-Fi available. Non-smoking throughout. Ample residents parking. Excellent Full English Breakfast. Set in one acre, adjacent to open farmland. 20 Pubs/restaurants located within one mile. All rooms have Sharp 26" LCD Freeview TV's, tea/coffee making facilities and radio/alarm clocks. Please note Jingles is a Bed and Breakfast and not a full Hotel. It is rated 4 star B&B Guest Accommodation which is different from a full hotel classification. Please call if you require clarification.
|The Innlodge is superbly situated on the eastern fringe of the City of Portsmouth, close to the junc... More..
The Innlodge is superbly situated on the eastern fringe of the City of Portsmouth, close to the junction of the A27 and A3M from London. It is close to Portsmouth's historic waterfront and Naval Dockyard, Gunwharf Quays and Continental Ferry Port. The Lodge boasts spacious fully equipped en-suite bedrooms, a modern relaxing lounge restaurant and a Hungry Horse Pub with a well equipped over 18's sports bar and children's large indoor soft play centre; The Pony Club. Height restrictions apply please call for details. This is a busy hotel which hosts functions most weekends and often throughout the week. If you require a quiet room please request it at your time of booking. Functions at weekends often finish at 1am. Due to some large private functions taking place in the Hotel, The Lounge restaurant will be closed throughout December, however the Farmhouse restaurant will be open as normal. If there are any queries, regarding this, please contact the hotel directly.
|The Old Dairy Farm is a newly built, beautifully furnished Bed & Breakfast. Our 5 rooms are indi... More..
The Old Dairy Farm is a newly built, beautifully furnished Bed & Breakfast. Our 5 rooms are individually and tastefully decorated to a high standard, all equipped with TV/DVD & Freeview, wired broadband, alarm clock and tea/coffee making facilities. Each room has an en suite shower room. Set in 16 acres of grazing land and surrounded by the beautiful woods of Hollybank we offer a quiet peaceful location which is within easy access to Emsworth town centre, Stansted, Goodwood, Chichester,Portsmouth and the surrounding area. Traditional full English breakfasts are served daily, and there is an excellent choice of restaurants within a few minutes drive. The Old Dairy Farm is a perfect location for both visitors to the area and business people working locally but requiring a quiet peaceful location away from the busy main road.


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I need a recommendation on a router. Nothing too expensive, something basic. What do you think about plunge routers?
Wood magazine and Fine Woodworking both run router review periodically.
A large factor in router choice is what (and how much) you plan on using the router.
I think a person needs to learn how to use a standard router before using a plunge model.
I have 8 routers, 2 have plunge bases that I seldom use, but I have a router table.
I bought three used Ryobi routers about 12 years ago for $10 each. They are not bad for a cheap router. My Porter Cable routers($200 each) are much better(they have the plunge and fixed bases).
Had a Craftsman router I have no idea where i got it---it is (unless a weed mower picked it up) still laying in the middle of a field where I threw it. Worst tool I have ever owned.
The problem with the "Under $100" routers is usually they do not have enough power for anything larger than 1/4 inch shank bits, and those are small and give the poorest performance.
The slow cut feed rates lead to burning, or you have to make repeated shallow passes (especially in hardwoods).
A plunge router is useful if you are going to do things like mortising. If you are doing edge profiling, rabbeting, and dadoing, a plunge is either not needed or less useful.
A router that can take both 1/4" and 1/2" shanks will be versatile. But if you want to go inexpensive, I'd opt for a trim router over a cheap brand larger router. Unless you are headed for a router table or dovetail jig, then I'd save up for a 1/2" collet router.
I'd avoid the Joe Garage routers such as Harbor Freight, Skil, Black & Decker, and Craftsman in favor of Bosch, DeWalt, Milwaukee, or Makita. I have a Porter-Cable 690 that has been a workhorse for 30 years, but the recent owner has cheapened the line and I'm not sure of their current offerings.
Here is a link that might be useful: This guy lives and breathes routers


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Arrange Showing or call 647.898.8216$74,900 MLS® 41265505 4.65 ACRES Land Area
192 Rockcliffe Dr Enfield
Property Description
Riverdale Estates is conveniently located for those working in Halifax/Dartmouth or even Truro as it is the halfway point between them. This 4.65 acre waterfront lot is located in the new Riverdale Estates Subdivision. For the car enthusiast this lot is just minutes from Scotia SpeedWorld and for the traveler the Stanfield International airport. This community fronts onto the Shubenacadie River with 110+ lots being developed into 2 phases. Launch your small boat, go fishing or invite the family for a picnic while taking in the stunning scenery. Only minutes from the Irving Big Stop, TransCanada Highway, the town center of Enfield, shopping, beautiful Oakfield Golf Course and Airlane Golf Club. If you work in the city you are just 30 minutes from Downtown Halifax, 20 minutes to Dartmouth Crossing and the Burnside Commercial Park. This is an ideal place to call home. Bring your own plans or choose from the many available plans and builders. Take a drive and come visit.Property Details
No additional details available at this time.Listing Courtesy of NSAR - Coldwell Banker Supercity Realty - A615


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PORT OF SPAIN, TRINIDAD - The West Indies Cricket Board's Regional Super50, Round 5, commenced today with three matches in St Kitts, Jamaica, and Guyana.
KINGSTON, JAMAICA - Trinidad and Tobago are aiming for their fifth consecutive victory in the Regional Super50 tournament when they tackle defending champions Jamaica in the penultimate round of the competition at Sabina Park, Jamaica today.
PORT OF SPAIN, TRINIDAD - The "Red Force" will be hoping to put aside the disappointment of an embarrassing 93-run defeat to Jamaica in their four-day fixture when the teams clash today in the Regional Super50 competition at Sabina Park in Jamaica.
PORT OF SPAIN, TRINIDAD - The management of the national senior team has called on the batsmen to give a better account of themselves as they go into action against Jamaica in their fifth match of the Regional Super50 tournament at Sabina Park, today.
KINGSTON, JAMAICA - Jamaica cricket head coach Junior Bennett said the team is behind national player Yannick Elliott after the all-rounder suffered a stroke during the Easter Holiday.
West Indies Cricket Board Inc.
P.O. Box 616 W, St. John's, Antigua
Tel : 268-481-2450
Fax : 268-481-2498
Email: firstname.lastname@example.com


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Career Record: 25-35; 46-51* (*including redshirt year)
2014-15: Currently holds an 13-21 overall record and a 4-14 dual mark … Has eight decisions, one major decision, one fall and three tech falls this season … Came in third place at the Jonathan Kaloust Bearcat Open … Has started in all 18 duals this season at 133 pounds.
2013-14: Finished the season 12-14 and 4-6 in duals as a redshirt freshman … Competed at the 2014 MAC Championships and lost to NCAA Qualifier Joe Roth (CMU) … Placed 6th at the Wolfpack Open …
2012-13: Finished redshirt season 21-16 … Led the team in tech falls, recording four on the year … Was tied for second-most major decisions on the team with five … Also recorded three falls … Placed fourth at the Mat Town Open and took fifth at the Cleveland State Open.
Prep: Helped lead Colonial Forge to a Virginia State Championship in 2012 … Three-time district and regional champion … Placed three times at states … Placed at Beast of the East twice … Posted a career high school record of 123-26 with 60 pins.
Off the Mat: Born October 27, 1993 … Son of Richard and Margaret Hayes … Has two sisters, Meagan and Josie … Dad played baseball for the Naval Academy … Majoring in business at ODU.
Wrestling Links


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Get to know the Windows Home Server Team: Video interview with Jonas Svensson, Community Program Manager
Today the Windows Home Server Blog, tomorrow your own TV series!
Thank you Charlie and Craig for writing it, and Microsoft for offering it up. Get your own copy of the Introducing Windows Server 2008 R2 ebook for free!
Looking for the SKU for Microsoft Server 2008 Remote Desktop Services by chance? The US price list, in addition to the License Configurator tool are at https://partner.microsoft.com/US/licensing/licensingchoices/licenseconfigurator. Get there by logging into your MS Partner account and clicking on the URL in the last sentence, or from the licensing tab, then expanding "Making Licensing Choices" on the left (at least at the time I wrote this post).
Here's a quick advertisement for Karl's next Seattle visit. I've already bought my ticket, so I'll see you there. – Steve
Meet Karl in Seattle on Tuesday, November 3rd
Introduction to Project Management and Zero Downtime Migration Strategies
$10 discount available instantly. Just use discount code SEA200911 at checkout.
For more info, see http://www.smbbooks.com/categories/seminars.htm
Mark Stanfill has started a great series, via his Twitter account, covering EBS rules for TMG. So good that I thought it a great idea to include them here. I'll add to this post as he adds additional rules. Following are the first sets, plus a bonus precursor:
#EBS08 New series: Mark's rules for TMG Firewall client (MRFTFC)
#EBS08 Never use 'route add' on TMG. Use the TMG getting started wizard instead. Look for startup scripts that do route adds,exclude admin
#EBS08 MRFTFC #1 – You probably don't need th FWC. 99% of apps can get by with SNAT and web proxy
#EBS08 MRFTFC #2 – Install from Management Server (not Security): C:\Program Files\Windows Essential Business Server\bin\ISA\client
#EBS08 MRFTFC #3 You only need the FWC if you have an APP that needs it or if you want to track access by user rather than by IP.
#EBS08 MRFTFC #4 Down-level FWC from ISA 2004/6 still works, but you should update it if you use it.
New #EBS08 TMG rule 1 – never, ever use "route add" – you will corrupt the IP stack
New #EBS08 TMG rule 2 – add routes via the getting started wizard only – TMG Console -> Forefront TMG -> Tasks
New #EBS08 TMG rule 3 – Only use TMG Console to configure VPN, never RRAS Mgmt console
New #EBS08 TMG rule 4 – Never, ever,ever, ever disable IPv6 on Security Server – you will never fix anything, but you will break RRAS
New #EBS08 TMG rule 5 – Networks under TMG Console\Networking\Networks must have an interface on TMG server itself or we'll drop traffic
New #EBS08 TMG rule 6 – deploy firewall client via gpo from MGMT server: c:\progra~1\window~3\bin\isa\client — Exclude Servers from GPO