Originally Posted by Sulla the Dictator
I think this is interesting in light of this news. If the "Anglo-American" model is so cancerous, why are Europeans depending on it for a bailout? The European Union is asking Britain to be the 2nd largest contributor to the IMF bailout fund.
Source please? In any case, contributions to the IMF are independent of the EU. They are set by the IMF. Do you mean the European Financial and Stability Fund?
(ADDED) Britain as a member of the EU was asked to contribute 50 billion. Eurozone members of the EU are being asked to contribute 150 billion each. So where do you get the idea that the EU is expecting a "bailout" from the Brits, who, in any case, have refused to contribute 50 billion. How typical.
Britain is in worse shape fiscally and economically than either France or Germany. And a country 20% of whose economy depends on finance is not a model I think should be imitated.
Incorrect. The US is responsible for being the first to suffer from overextended credit. It is in no way responsible for the European model of social democracy bankrupting your states. Which is what we are watching. Your sovereign debt is no longer plausibly going to be matched by growth, and your aging populations will explode it. Investors know this.
The sovereign debt of the US represents a higher percentage of its GDP than the sovereign debts of France or Germany. We already had this exchange in another thread. Investors "know" what the rating agencies tell them. And we all know how reliable they are.
I doubt if the French or other Europeans care to be lectured to by a country like yours (or Americans like you) that has the "exorbitant privilege" of being able to print money to pay off its debts and still seems unable to provide decent services to its citizens.