Dave

It surprised me that the news in Canada is as grim as here?As of today Canada was not on our news in terms of bad economic devellopment.

The real problem in Europe is the different leadership .We have no central leader comparable with Canada or the US.The ECB could step in an solve the problem because they have enough money or even could print money but that's against the Germans policy.But in the meantime one country after anothert comes in the fireline .They are speaking about Belgium as well as possible next one to come into the visirs.These clowns here have until now still formed no government after more then 1.1/2 year??They are probably nerar one but could still make no deal who's gonna pay the most to solve the debt .It's really incredible that a so called bank elite group + the political class have wasted so much money and on top are well payed as well.People here are getting some nervious .If the chance could be that the € can't hold then I don't know what will happen.That will cause more banks to collapse and who's gonna help them then if governments money is gone to support them.Maybe it's a doom scenario but the nice life we had so far could become very grim.I'm thinking of putting away a part of my saving money and search for a bank which is not in a fireline if we have a severe € crisis.Maybe a German bank like Deutche bank or small bank which are not on the stock market.I don't know if we are awere what banks are doing with our money.What came out what happened with Dexia bank lately it's clear these banks are mostly active on trading floors ,and all tricky investment .

I think that socialism is not the biggest problem .I think overseas they see socialism more like the earlier Russian model which is not the case.But there need severe adaptation to be done to control it and that's what politicians are afraid for because they will loose their voters.Some adaptations are

working longer then today

restriction on money support if you loose your job

adaptions in the insurance and health care system etc..

Of course nobody will like that .

politicians trough the years have people given such nice gifts in order they get elected but the State cassa is empty now while people here have not a bad life and like I heard in Greece some peopel are not that poor as well but they won't pay taxes there etc..

So now government will come to collect some money from each of us and of course that will hurt.

Most severe what could happen is a € collapse so that some countries will be kicked out of it causing banks which have bonds of these to struggle to survive.

If the Eurozone parlement should get more power and could act together with the ECB and print if neccessairy more money like in the USA then things could turn but we are to much divided for that.

I really though I liked it here pretty much and so far have had a nice life would switch country with yours now.

So IF it gets worser here what will be the impact on the stock markets,oil price etc..Do you think oil can hold if the Eurozone is imploding ?That could bring hard times ahead for our small company CLL again.