A Quote by Mohamed El-Erian
It is hard to imagine that, having downgraded the US, S & P will not follow suit on at least one of the other members of the dwindling club of sovereign AAAs. If this were to materialise and involve a country like France, for example, it could complicate the already fragile efforts by Europe to rescue countries in its periphery.
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The US government's most acute fear is that other countries are going to follow the Cuban example. They want everybody to know that if you follow this example we will attack you in every way that we can.
We need the help of other member countries and leaders who, like us, want to see a change in Europe's direction. That's also my logic when I tell voters that electing me president will not only shape France's future, but also initiate change across all of Europe.
You're thinking of Europe as Germany and France. I don't. I think that's old Europe. If you look at the entire NATO Europe today, the center of gravity is shifting to the east. And there are a lot of new members. And if you just take the list of all the members of NATO and all of those who have been invited in recently -- what is it? Twenty-six, something like that? -- you're right. Germany has been a problem, and France has been a problem.
First of all, Greece won't go down. We're talking about a country that is capable of making change. Europe will not allow the destabilization of the 27-country euro zone. But if there were no action, then markets would start becoming jittery about other countries - and not only Spain and Portugal, but other countries in the European Union.
I think there is an American attitude that is very hard to break which is "We're great. Who wouldn't want to be like us? Who wouldn't want to have the benefits of our largesse, handing out aid and having American companies based in their countries?" and "our culture is great," and all that. It's hard for us to imagine ourselves as not being the greatest country on earth.
I don't want our country to be like other countries in Europe in having a challenge to integrate their new immigrants.
I'm the treasurer of the state of Ohio, where, when the United States credit rating was downgraded for the first time in American history, and 14 government funds around the country were downgraded, we earned the highest rating we could earn on our $4 billion investment fund.
It's not just other countries in Europe having a say over what we do. It's unelected bureaucrats in Brussels on sort of six-figure, huge salaries telling us how we run our country despite having never stood for an election themselves.
Even under the British there were hostile groups. There were clashes. But, as we found out later, these were clashes provoked by those who had no wish to let us live together - on the eve of the Partition. The policy of keeping us divided was always followed by foreigners, even after the Partition. If Indians and Pakistanis had been together...I don't say as confederated countries but as neighboring and friendly countries...like Italy and France, for example ...believe me, both of us would have progressed much further.
For the overthrow of the bourgeoisie, the efforts of one country are sufficient - for this we have the testimony of the history of our revolution. For the definitive victory of Socialism, for the organization of Socialist production, the efforts of one country, especially of a peasant country like Russia, are insufficient - for that are required the efforts of the proletarians of several advanced countries.
Having viewed Europe as an extension and projection of itself, France now finds Europe developing a mind and identity of its own which embraces France but is not controlled by France.
France, like other countries, is facing a terror threat that is unprecedented in its nature and magnitude, ... Terrorists are targeting France to divide us.
It was one thing to contain the Soviet Union in Europe because Britain, France, and Germany were all willing to join in. But will Japan and other Asian countries be willing to join in the containment of China?
But sovereign debt is a wider question not only in Europe but across the globe. While every country is a unique case, I think it's not an issue of countries acting on their own. We need a more coordinated strategy not only in Europe but around the world.
The greatest difficulty we have faced is the neocolonial way of thinking that exists in this country. We were colonized by a country, France, that left us with certain habits. For us, being successful in life, being happy, meant trying to live as they do in France, like the richest of the French.
I think that my stance on having people come in to this country that we have no idea who they are and in certain cases you will have radical Islamic terrorism. I'm not going to have it in this country. I'm not going to let what happened to France and other places happen here. We have hundreds of thousands of people that have been allowed into our country that should not be here. They shouldn't be here. They have no documentation and they were allowed under the previous administrations, they were allowed into our country. It's a big mistake.
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