Britain may be forced to bail out Greece

#1
Just when we thought we didn't have any money left 8O :?

Britain could be forced to help bail-out some of Europe’s crisis-hit economies with tens of billions of pounds, it is feared.

Gordon Brown is under mounting pressure from MPs on all sides to ensure that only eurozone countries contribute to a bail-out of Greece, whose economy is teetering on the brink of collapse.

The Prime Minister will this morning arrive in Brussels for a crucial European leaders’ summit amid fears that the UK could get dragged into a full European Union bail out plan.

Downing Street, however, insisted that the focus of responsibility should fall on the eurozone countries and, failing that, a G20 group of leading nations solution.

Last night European officials were involved in furious efforts to try and complete a €20 billion rescue package, designed to halt the looming crisis in Greece before it spreads to other countries. France and Germany were at the forefront of the eurozone negotiations.

However, Mr Brown - when challenged in the Commons over Britain’s position - was unable to rule out Britain's involvement in a a Greek rescue package.

The package would involve credit assurances being given to Greece to enable to start borrowing money again at affordable rates – something that has been impossible because of its credit rating.

But the issue of other countries needing urgent help, as well as Greece, is also pressing. The economies of both Spain and Portugal are in serious trouble and their deficits spiral.

It means a total rescue package for the so-called PIGS – Portugal, Ireland, Greece and Spain – could be as high as €60 billion.

Britain contributes 20 per cent of the EU budget and any EU-wide bail out of either Greece - or the other threatened economicies - could, as a result, fall heavily on British shoulders.

http://www.telegraph.co.uk/finance/...Britain-may-be-forced-to-bail-out-Greece.html
 
#5
bill121koln said:
Why are we contributing 20% of the EU budget, surely there are more than 5 countries in the EU?
i think it's based on a country's economy to how much it has to put in the EU kitty. It might also have something to do with the Lisbon Treaty :)

.
.. but don't quote me on that :?
 
#8
Britain contributes 20 per cent of the EU budget and any EU-wide bail out of either Greece - or the other threatened economicies - could, as a result, fall heavily on British shoulders.
20%....wha :?
 
#9
Let's waste another x billion. However if our dear leader does throw more money down the pan let's at least get something for it. A not exhaustive list could be:

Confirmation in perpetuity that the Elgin Marbles would have been completely ruined if they had stayed in Greece and that all claims to ownership by the beneficiaries of our munificence are admitted to be groundless.

Full rights in perpetuity to all photographic and audio royalties and other proceeds thereof including use of the name or derivatives thereof of the Parthenon, Knossos, Corinth and Lesbos. Eclectic I know, but probably quite lucrative.

An annual tithe in perpetuity of 1M tonnes of prime olives, delivered to UK under the marketing name of "Broon Oil".

The rights in perpetuity to a few islands for holidays and decompression for UK troops returning from ops.

Look, I know I'm being silly, but I'm a hell of a lot less stupid than anybody who has agreed to pay 20% of the EU costs and might agree to spend billions more bailing out a country whose chief contribution to their GDP is alleged to come from defrauding EU quotas. Allegedly.

Reinforce success. The EU is going to be in far worse poo if GB, Germany or France start defaulting. Anyway, we don`t use the Euro... Ooops silly me, we sold of loads of our gold at rock bottom prices to buy Euro`s that we now have to bail out. Ah well
 
#10
Gordon should tell the truth,

"I don't have any money 'cos a bigger boy made me spend it and he spent all my pocket money and it's not my fault 'cos they didn't tell me I had to spend it on things that were useful and another bigger boy's going to beat me up if I don't pay him back with the next pocket money I get which will be in about 2020 but they will give me some more by then 'cos I'll be a bigger boy myself and they'll have to."
 
#11
I shall be most displeased if Mr Brown uses our money (which we don't have) to bail out everyone else.
I suspect even the deranged muppet in Downing Street knows its a bad idea but I susect his obsession with saving the world will get the better of him.
 
#13
What do you mean 'forced'. Hasn't anyone heard the word "NO" before? Brown and others who waste taxpayers money should say it at least 10 times a day. Plus someone send a note to Mr Poppodoppolus, or whoever is in charge of Greece to go to the IMF.
 
#14
zazabell_012 said:
What do you mean 'forced'. Hasn't anyone heard the word "NO" before? Brown and others who waste taxpayers money should say it at least 10 times a day. Plus someone send a note to Mr Poppodoppolus, or whoever is in charge of Greece to go to the IMF.
Agree'd HOWEVER, Mr Brown would like to remind us loyal taxpayers

"As a "Gracious" member of the EU, all members have a duty to assist other countries in their "hour" of need, even though our "own" country is struggling fiscally & our services are being targeted for cuts"

A sense of duty he'll call it.

edited for sarcasm :oops:
 
#15
beemer007 said:
zazabell_012 said:
What do you mean 'forced'. Hasn't anyone heard the word "NO" before? Brown and others who waste taxpayers money should say it at least 10 times a day. Plus someone send a note to Mr Poppodoppolus, or whoever is in charge of Greece to go to the IMF.
Agree'd HOWEVER, Mr Brown would like to remind us loyal taxpayers

"As a "Gracious" member of the EU, all members have a duty to assist other countries in their "hour" of need, even though our "own" country is struggling fiscally & our services are being targeted for cuts"

A sense of duty he'll call it.

edited for sarcasm :oops:
Yeah, I know :lol:

Ok, how about this.....a Souvlaki tax? I can see old Zorba getting a kick from that one :wink:
 
#16
So basically we are going give money to a country that cant afford to pay back money they have borrowed in the past???
 
#17
It ain't going to happen because Parapauk told us so in another thread.
 
#18
According to the BBC 10 o'clock news last night, a Government spokesman said that this is an issue for the EURO currency using countries and not a British or European wide problem.

At the end of the day, these Flip-Flop wearing nations only sign up to the Euro so that they can get big handouts to fritter on the heavily Socialist countries.

Of which Greece is a complete pisss take. State Retirment age is 61 and at that point, the State then pays you an old age pension which is paid at a rate of 93% of your last salary, be that public sector or private sector, what a mess and these useless tin-pot Med Nation governments want the rest to throw them a rope....!

My fcuking arrse..


The Telegraph Columnist Simon Heffer wrote a very good article in yesterdays Telegraph, of which this is just one paragraph....

Who will bail out the poor relations of Europe?

A top economic consultancy suggested one answer to the problem the other day, so hilarious as to be brilliant, but completely sensible: it was for Germany to abandon the euro, leaving it as the ideal currency for all the banana republics in Club Med who have long since lost the will to exert financial discipline. Europe could then have at least one decent currency – the revived Deutschmark – to give it some credibility in the outside world, and the rest of the former currency union could sort themselves out in their own time.

Other countries would have the option of joining the Deutschmark zone, much as one turns up on Caribbean islands or in speakeasies in Yekaterinburg and expects to spend dollars. It is blisteringly simple, but it won't happen.
 
#19
bill121koln said:
Why are we contributing 20% of the EU budget, ...
We aren't!

But there again, let's not let the truth get in the way of your ignorance.



PS. Just noticed your name Mr Bill Cologne. As a Boxhead, you are speaking the truth since Germany contributes almost 20% to the EU budget. :)
 
#20
Look guys, I've thought about this long and hard and, in all conscience we have to do something, sacrifices will have to be made, there's no other way. Not to help would be selfish and self serving and we are better than that. It may cause us a lot of anguish and it's an asset we can scant afford to lose but I propose that we give them our own economic guru and captain of our ship to steer Greece clear of the rocky waters of bankruptcy. We should send them Gordon to run their country for them, it only seems fair, they have sent their Prince to help her Majesty and keep us all amused with his witticisms all these years so it's time we repaid the debt. Gordon, we'll be sorry to see you go but you are the only superhero that can do it, Greece's gain is our loss, fond farewell and God speed.
 

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