Another mess with the word Euro in front of it.

Discussion in 'Current Affairs, News and Analysis' started by muhandis89, Mar 26, 2010.

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  1. And then you get t*ts like LORD Mandelson who says the euro currency is a success and Britain should join the single currency.
  2. I could justify stepping in, if Portugal's Port supplies were threatened. But, as kleftiko can be made anywhere, the Bubble & Squeaks are on their own.
  3. I have a nice warm feeling that the " Masters' of the EU " are going to regret their past actions of encouraging , almost to the point of cajoling , some of the more recent members to join . The levels of corruption within some of these countries , known at the time , whether it be state or private sector will come back to haunt the EU . Greece is just the beginning …. let us hope it is the beginning of the end . I am convinced that many members lied by using imaginitive financial practices to falsely prove that they satisfied the joining criteria and further some long serving members pay only lip service to financial constraints imposed by Brussels . The Euro could prove to be the Achilles Heel .
    I am all for a Trade Relation EU but the vision imposed on a sleeping and unsuspecting EU population using creep techniques of an EU Super State may be fading .

    Edited ... minor text mod .
  4. This situation seems like heads I win, tails you lose. Helping Greece could send the wrong signal to other countries in the Eurozone with similar problems, ie don't worry the rest of Europe/IMF will bail you out. Not helping Greece and letting the country founder would allegedly be a disaster. Spoiled for choice.
  5. seaweed

    seaweed LE Book Reviewer

    Letting Greece 'founder' would send out two messages: to the Greeks to take life seriously and not expect other people to pick up their bills, and to other countries to sort their own economies out. Unfortunately Greece 'foundering' would be a massive failure of Socialism, and THAT is what the Eurocrats don't want to happen. Of cours it will collapse in the end, but right across Europe, with far more serious consequences than if it were just Greece biting the bullet, and in a firestorm of inflation to boot.
  6. Interesting to see that after a minor bounce against the Euro after darlings non budget (unless you drink cider that is) that the poor Euro has started to rise once again against the pound.

    You may have xenophobic dislike of the Euro, but the rest of the world really does think it is 25% better than the pound compared to a year or so ago. and it is getting better almost every day. The big question now is when will the pound sink below 1 euro. Some time in May perhaps?
  7. The EU have to bail out Greece.... or the whole Euro will go wrong.

    Wonder if this was contrieved by the crypto fascist American bankers such as JP Morgan and the Rockefellas? Bring down the Euro, as it is a threat to their currency the Amero.....
  8. msr

    msr LE

    turn to page 189 of the Treasury's Budget book.

    In Table C3 – Current and Capital Budgets – there's a line showing Public Sector Net Debt, ie how much we, as a country, will owe our creditors (not including personal borrowings). Now, cast your eyes over the column
    "2014-15". Pow! I bet that hurt. Have another go: it's not a printing error.

    Yes, according to the Treasury's forecasts, the United Kingdom will nearly double its indebtedness from £776 billion (in 2009-10) to £1.4 trillion. Even in Gordon Brown's devalued, debased and degraded system of accounting, that is still a poleaxing sum, equal to about one year's national output.

    That's why the poound has slumped against the euro
  9. Is it only those Eurozone countried bailing out Greece, or will we get roped in for a contribution?
  10. They'll certainly try it on. Whether we do or not depends who's running the UK when it comes to the negotiation.
  11. Angela Merkel is sh1tting herself - the Germans have saved and been exceptionaly financially prudent and now they're faced with bailing the PIGS out (for which she'll get smashed at home) or letting them suffer and watching the Euro as a whole take a dive.

    Everyone knew at the time that the Greeks entered that they were fudging it by what was assumed to be 20 to 30%, not the 300% that they actually did!
  12. One way or another, we will pay more than our share. One of the few certainties in the world, since Thatcher went anyway.
  13. John Redwood puts it in layman's terms on his blog: