Lordo wrote:have you boys not realised yet turkey is not interested in joining a bankrupt eu. who in their right mind would be mad enough to join such an organisation. ohps i see you have. never mind better luck next time an opportunity comes along to join greece hey.
Turkey can't join the EU, and not that she doesn't want to join the EU.
It was very comical to read the other day when Erdogan said that, upon joining the EU, Turkey would not be using the EURO. Talk about putting the cart before the horse!
He wanted to set up a Turkish Lira Zone instead.
How is the EU bankrupt? It is not.
How is the Euro EU bankrupt? It is not not.
The ECB can print as much money as it wants to pay for anything it wants. No different than what the USA does, who can print as much money as it wants to pay for what ever it wants.
Countries in the EURO will be bailed out by the ECB, since the EURO is the currency and the ECB is the provider of the EURO. It doesn't matter if the ECB creates a huge debt, because it will just print more money to balance it's books. Sure the countries who are being bailed out are facing austerity measures, but that's just to prevent future debts. There's no way these countries taking money from the ECB will ever need to pay it back. The ECB will just print more money to make up for it, that's all.