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Jeroen Dijsselbloem returns tomorrow to the city that taught him blunt speaking and beagling.


He3

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The recently appointed head of the informal but powerful group of Finance Ministers of the 17 euro States hit the headlines with a bang lately when he was reported in the FT as indicating that what was done in Cyprus - taking money from bank depositors - was a template, something to be followed in future troubled States.

Jeroen Dijsselbloem is the Dutch Fin Min. He spent a year studying at UCC. Informed sources suggest that the year taught him much about candour. Much of the reaction to his comments about Cyprus missed the fact that he was probably guilty only of speaking the truth.

The Eurogroup is one of those bodies that seemed to emerge from nowhere. It was not based in the EU treaties. It has no formal constitution. Yet as a body it wields enormous power. A former head of one of the world's largest hedge funds talks of it being part of a shadow government, not directly accountable to the public yet exerting huge authority over them - or over their money.

Mr Dijsselbloem has volunteered to subject himself to a 'moderated' question and answer session tomorrow in UCC.

What do we need to know?

PS The beagling bit may not be true.
 
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Sync

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What power do they have outside that which has been individually granted to them by their national democratic governments? Specifically what "Enormous power" does it wield?

Can you imagine any company in the world where the individual heads of finance would not have regular meetings to discuss progress/events?
 

He3

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Remember the FX response to his FT interview, and the rush release of a corrective statement by the Eurogroup?

These lads' loose lips can sink a currency.
 

Ribeye

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What power do they have outside that which has been individually granted to them by their national democratic governments? Specifically what "Enormous power" does it wield?

Can you imagine any company in the world where the individual heads of finance would not have regular meetings to discuss progress/events?
Can you imagine any company in the world where the heads of finance would get together and decide to rob it's customers life savings?
 

Dublin 4

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More Eurodoom OP's please He 3 - you've been of the Radar for a while...
 

The Field Marshal

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What power do they have outside that which has been individually granted to them by their national democratic governments? Specifically what "Enormous power" does it wield?

Can you imagine any company in the world where the individual heads of finance would not have regular meetings to discuss progress/events?
You remind me of the little boy with his finger in the dyke trying to stop the flood.
He too was Dutch IMSMR.

Eurozone Banking trust has effectively been dismantled by this loon Dijsselbloem and his henchmen.

Thankfully their actions will complete the destruction of the divisive and failed euro currency project.
 
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Sync

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Remember the FX response to his FT interview, and the rush release of a corrective statement by the Eurogroup?

These lads' loose lips can sink a currency.
So you're confusing the words "Power" and "Influence". Warren Buffet saying he thinks Apple are crap could send their share price lower. That's his influence, not a direct result of an order he's given.

So what power and authority does this group have (again, outside what's been given to them by individual elected governments)
 

He3

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Can you imagine any company in the world where the heads of finance would get together and decide to rob it's customers life savings?
Well, yes...
 

Shpake

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From He3 The recently appointed head of the informal but powerful group of Finance Ministers of the 17 euro States hit the headlines with a bang lately when he was reported in the FT as indicating that what was done in Cyprus - taking money from bank depositors - was a template, something to be followed in future troubled States.
So you're confusing the words "Power" and "Influence". Warren Buffet saying he thinks Apple are crap could send their share price lower. That's his influence, not a direct result of an order he's given.

So what power and authority does this group have (again, outside what's been given to them by individual elected governments)
A bit of imagination would be of the order of the day: These lads sit around the table, things like voting majorities are kind of on the slow burner, I'd imagine... it's all about who are the paymasters and who are the piigs... and then again they are all in the one boat so to speak. What power do they have? Formally none, but actually is it soft power only or do they consult a controversial point with their prime ministers who change it into hard power? It was Sarkozy I think, that made some comment about the Franco German alliance taking over the tiller during the crisis and calling the shots.
 

He3

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A bit of imagination would be of the order of the day: These lads sit around the table, things like voting majorities are kind of on the slow burner, I'd imagine... it's all about who are the paymasters and who are the piigs... and then again they are all in the one boat so to speak. What power do they have? Formally none, but actually is it soft power only or do they consult a controversial point with their prime ministers who change it into hard power? It was Sarkozy I think, that made some comment about the Franco German alliance taking over the tiller during the crisis and calling the shots.
This being part of a case study.

http://www.consilium.europa.eu/uedocs/cms_data/docs/pressdata/en/ec/131359.pdf
 

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