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Trump's reported EU amb: EU antidemocratic, harmful to US, Greece could ditch € for $

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Professor Ted Malloch claimed Greek economists are looking into taking on the US banknotes if the country turns its back on the European single currency in a move that he said would ”freak out" Germany.

Trump's tipped ambassador to the EU says the euro could collapse
He said: ”I know some Greek economists who have even gone to leading think tanks in the US to discuss this topic and the question of dollarisation.

”Such a topic of course freaks out the Germans because they really don't want to hear such ideas."

...

"The one thing I would do in 2017 is short the euro," he said.

”I think it is a currency that is not only in demise but has a real problem and could in fact collapse in the coming year, year and a half," he added.

http://www.independent.co.uk/news/business/news/greece-latest-euro-us-dollar-ted-malloch-donald-trump-european-currency-debts-loans-us-ambassador-a7580806.html

US President Donald Trump's reported pick for EU ambassador said the bloc is "bloated by both bureaucracy and rampant anti-Americanism," and says each EU state should hold a referendum on membership of the bloc.

...

In an article for the Parliament Magazine, a title focusing on EU politics and policy, Malloch said that the Trump administration was "no longer interested in the old forms of European integration" and could try to reverse the EU's drive towards a "socialist, protectionist, United States of Europe."

He said that Europeans were "ungrateful" to the US for its "large contribution to post-war European development and democracy," which he said was rooted in "European resentment of American power."

He added that the EU in its current form is "very harmful to US business, to US investment, to US security, and is categorised by over-regulation, low growth, [and] high unemployment," citing the Common Agricultural Policy — the EU's farming subsidy programme — as an example of European attempts to "distort the world economy and any notion of fair trade."

He suggested that each member state should hold a referendum on the EU to test their commitment "to the values of democracy and freedom."

Malloch is well-known for his anti-EU stance and European leaders have suggested that he is "malevolent" towards the bloc.

Asked in January he wanted to become the American ambassador to the EU, he told BBC News: "I had in a previous career a diplomatic post where I helped bring down the Soviet Union. So maybe there's another union that needs a little taming."

...

Malloch's credibility was questioned by the Financial Times, which reported in February that he had embellished or falsified seven claims in his autobiography, including allegedly false claims that his documentary was Emmy-nominated, that he held a professorship at Oxford University, and that he had written for the New York Times and Washington Post. Malloch played down the FT's claims.

http://uk.businessinsider.com/ted-malloch-trump-pick-for-eu-ambassador-driven-by-rampant-anti-americanism-2017-2

Some other gems from Malloch's own essay:

We should be keenly aware that America has strong and long historic ties to Europe; that our genealogy and kinship run deep. Despite our large contribution to post-war European development and democracy, not to mention costly security, anti-Americanism abounds in Europe today. Why?

Furthermore, the EU increasingly openly works against US interests abroad -- in the Middle East, Israel, Iran, on energy, Cuba, at the UN and the list goes on and on. And America with a blind eye just looks the other way. No longer. President Trump is on watch - and looking.
 

frontovik

Banned
US President Donald Trump's reported pick for EU ambassador said the bloc is "bloated by both bureaucracy and rampant anti-Americanism," and says each EU state should hold a referendum on membership of the bloc.

Despite our large contribution to post-war European development and democracy, not to mention costly security, anti-Americanism abounds in Europe today. Why?

Well, history has shown that any independent and sovereign nation would value their independence and ability to assert its own policies. France would be a suitable example of a nation that wielded considerable prestige and influence in the past, and didn't approve of US influence during the DeGaulle era.

It's not surprising that certain EU nations don't feel obliged or desire to be a vassal of the US... nor should they.

This whole "you're with us or against us" under the guise of claiming 'anti-democracy' just stinks of exploitation and opportunism.
 
Greece problem is the Euro is strong. So they are going to replace it for a dollar that is almost as strong also, and which they also have zero control over. Sounds legit.
 

operon

Member
This nonsense was printed in the daily mail and its still nonsense printed in the independent. Greece giving up the euro for the dollar absolute madness
 

Rektash

Member
Hasn't the EU talked about possibly denying credentials to this guy?

I really hope the EU does this. The current US leadership needs to get a clear sign what they can and can't get away with when it comes to their diplomatic relations.
 

liquidtmd

Banned
He added that the EU in its current form is "very harmful to US business, to US investment, to US security, and is categorised by over-regulation,

I want to make it a regulation that whenever anyone else in this administration says something is over-regulated they need to specify at least five regulations that aren't required.

I'm being generous.

Trump probably read Brexit GAF and wants to wage war on the shape of banana regulations
 

tuxfool

Banned
Greece problem is the Euro is strong. So they are going to replace it for a dollar that is almost as strong also, and which they also have zero control over. Sounds legit.

Yeah, it is kind of dumb. If they were looking for a solution outside the Euro their only viable option is their own currency.
 

UberTag

Member
The best thing that could happen is for the EU - and the rest of the world - to simply pretend that Ted Malloch doesn't exist. Ignore him and his nonsense rhetoric can do no damage. They need to look out for their own interests - both individually and as part of the European community.
 

jelly

Member
I've heard this guy before, absolute nutcase. There is basically no point to him having the job if that is his view.
 

Xando

Member
Wouldn't the euro be way stronger still greece didn't use it? A stronger euro would hurt exports though of which europe is very much dependent.
Greece is not nearly big enough to undervalue the euro like it is now.
It's more of a combination of southern/eastern european countries that have the currency undervalued
 
They keep quoting this guy as 'potential' or 'tipped' ambassador - when are they going to make a decision on appointing him?

I agree with him on a few things though. The CAP is bullshit, and bad for e.g. African countries that want to export to the EU. Also, the Euro is in trouble. Isn't Greece due for yet another bailout any day now? Also the IMF wants paying, and since the US (i.e. Trump) is the largest contributor to the IMF, I can see them not willing to give much latitude on the repayment terms.
 

ShinZed

Member
He added that the EU in its current form is "very harmful to US business, to US investment, to US security, and is categorised by over-regulation, low growth, [and] high unemployment," citing the Common Agricultural Policy — the EU's farming subsidy programme — as an example of European attempts to "distort the world economy and any notion of fair trade."

Isn't US corn rediculously subsidised as well though?
 
America went to war for us and helped us out of the deep, deep hole Europe dug itself in after 2 devestating world wars.

From a shared history, decades of friendly cooperation to this uneducated arsehole spounting this hostile garbage.

It really is unbelievable.
 

Boney

Banned
On one hand, it's true that the EU has been holding Greece hostage for over a decade. On the other hand, the dollarisation would bring major catastrophic consequences worldwide and trump is a moron.

🤔

America went to war for us and helped us out of the deep, deep hole Europe dug itself in after 2 devestating world wars.

From a shared history of decades of friendly cooperation to this uneducated arsehole, spounting this hostile garbage.

It really is unbelievable.
America went to war so bankers that lent money to England and France were getting worried that they wouldn't be able to pay it's debt if the central powers won. Which brought us the first system of major propaganda constructed by Bernays.
 
On one hand, it's true that the EU has been holding Greece hostage for over a decade. On the other hand, the dollarisation would bring major catastrophic consequences worldwide and trump is a moron.

🤔

"Holding Greece hostage for over a decade" is objectively wrong on so, so many levels.
 
What would be the point of replacing a currency thats too strong for their economy with another currency thats too strong for their economy?

Greece lived beyond its economic means for decades and will have to deal will significantly lower standards of living going forward. There is just no way to avoid that, neither dropping the Euro nor dropping out of the EU would change that. In fact, both these things would probably make it even worse for them.
 

Dingens

Member
US President Donald Trump's reported pick for EU ambassador said the bloc is "bloated by both bureaucracy and rampant anti-Americanism,"

well you're certainly not helping with that ;)

edit:
[...] distort the world economy and any notion of fair trade [...]

did this guy serve under Reagan or something?
 

jelly

Member
On one hand, it's true that the EU has been holding Greece hostage for over a decade. On the other hand, the dollarisation would bring major catastrophic consequences worldwide and trump is a moron.

🤔

Greece screwed themselves and lied with the help of Goldman Sachs I think to get into the EU. They need the medicine and because they took the piss for so long, it's very hard to swallow, but swallow they must. I can have a little sympathy for the young people but far too many people in Greece were so anti tax, widespread playing of the system for personal benefit like a god given right that they need to take it fully and reap what they sow. Long term the EU will help them if they actually do what they ask and take some responsibility, change their system.
 

tuxfool

Banned
Greece screwed themselves and lied with the help of Goldman Sachs I think to get into the EU. They need the medicine and because they took the piss for so long, it's very hard to swallow, but swallow they must. I can have a little sympathy for the young people but far too many people in Greece were so anti tax, widespread playing of the system for personal benefit like a god given right that they need to take it fully and reap what they sow. Long term the EU will help them if they actually do what they ask and take some responsibility, change their system.

Yeah, the Greeks are not innocent victims here.
 
The Greece thing really is the peak of stupidity. Let's say Greece leaves the Euro at some point. Why would it do that? Because it wants to have sovereignty over its monetary policy and devalue its currency when it deems necessary. How exactly would the Dollar help with this? Not at all... facepalm.gif

Is it possible to deny a diplomat entry into the EU? This guy is obviously an enemy of the Union, so fuck him. We don't want him here.
 
Yeah, just fucked it up seems more likely. You can't hold a corpse as a hostage.

Yep, Greece is the victim after they falsified literally a decade's worth of financial documents to lie themselves in the EU and euro and then ran their dysfunctional country headfirst into bancruptcy.

I genuinely hate these "the EU fucked Greece !!!1!one!" posts. There was no easy solution for Greeces (self inflicted) severe troubles. Throwing even more money at Greece without fixing the underlying structural problems the country has wouldn't have solved anything. either.
 
Greece screwed themselves and lied with the help of Goldman Sachs I think to get into the EU. They need the medicine and because they took the piss for so long, it's very hard to swallow, but swallow they must. I can have a little sympathy for the young people but far too many people in Greece were so anti tax, widespread playing of the system for personal benefit like a god given right that they need to take it fully and reap what they sow. Long term the EU will help them if they actually do what they ask and take some responsibility, change their system.

"They" need medicine? Contemporary Greeks' grandkids and great-grandkids that will be paying off these bonkers loans? How are they even responsible?

Greece should leave the Euro as soon as possible, move to an almost-worthless neo-drachma and take the short term pain. Then at least they might have some hope for the future. Sod 'long term' help from the EU.
 

El Topo

Member
He realizes that a collapse of the euro would lead to a gigantic (possibly unprecedented) worldwide economic crisis, right?
 

Griss

Member
He's half-right about some stuff:

-The CAP is bullshit and needs to be abolished / totally reformed.

-Greece needs to leave the euro and the way they've been treated by Germany is an utter disgrace that makes a mockery of any supposed European unity, as an Irishman whose potential kids would still be paying off the bad bets made by German banks in 2040 and beyond I feel tremendous sympathy for them.

-The euro currency could indeed be in trouble depending on short term economic and political events, it has two significant flaws at its very heart regarding small nations not being able to control inflation during an economic crisis, and the fact that EU countries are so economically diverse that one size does NOT fit all and will probably never fit all.

-Anti-americanism is rampant in the EU at the moment (of course, this is because of Trump, lol).

-The EU still has a major democratic deficit no matter how much they argue otherwise.

A lot of the rest of it is nonsense (adopt the dollar? ha.)

"They" need medicine? Contemporary Greeks' grandkids and great-grandkids that will be paying off these bonkers loans? How are they even responsible?

Greece should leave the Euro as soon as possible, move to an almost-worthless neo-drachma and take the short term pain. Then at least they might have some hope for the future. Sod 'long term' help from the EU.

Well said.
 
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