Failed states in Europe?

Discussion in 'The Intelligence Cell' started by msr, Jan 14, 2009.

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  1. msr

    msr LE

    After the financial crisis and the economic crisis come fears of a fiscal crisis. Standard & Poor’s, the rating agency, made sceptical noises this week about the solvency of the Spanish, Greek and Irish states. The risk premium demanded by lenders for extending credit to these countries grew appreciably in response. It is a distant prospect, but the European Union must stand ready to prevent a run on its member states.

  2. Worrying, but it takes a lot more to be qualified as a failed state.
  3. Not worrying at all.

    Gordon will save them in the same manner that he saved Iceland. £2 billion via the World Bank IIRC.

    After our own little bout of 'quantitative easing', he'll have the Bank of England start printing Euros to save our EU partners. Chop a tree down, make it into paper, slap some ink on it and call it a billion quid/Euros/Dollars.

    Sorted. World saved. Home in time to sign off more PFI contracts.
  4. Never fear you petty mortal's, SuperBroon is here to save the world from peril once more.

    edited for bad spelling*
  5. I suspect the Eastern European countries are even more fcuked - riots in Latvia recently due to the sconomic situation.
  6. BuggerAll

    BuggerAll LE Reviewer Book Reviewer

    We may laugh, scoff and throw buns, but I wonder (and fear) how many steps are we away from failing?
  7. UK, forced to replace its sterling currency with the GBP - Gordon Brown Peso!
  8. The PIGS were always estimated to be the first to fall & most costly

  9. And as these Euro-using countries fail they drag the stronger economies like Germany down with them.

    Single currency anyone? :roll:
  10. Alsacien

    Alsacien LE Moderator

    ...or maybe the other way around :wink:

    Ever wonder if there was more than one reason Sterling did not quite officially hit Euro parity the other week :?
  11. A 'new' title:


    Easy: The United Kingdom of Great Britain and Northern Ireland.

    This failure is courtesy of the 'mega-spiv' Bliar and his repellent, but reluctant, acolyte 'Stalin' Brown.

    What have we done to deserve so many years of this 'filth'?
  12. When you've had country's taking double, treble or quadruple from the pot for almost 20 years, it was always going to happen.

    Just look at some of the former Colonies that were governed and ruled by Great Britain for countless years (granted not always ethically sound) with hardly any problems, and then having been granted Independance, just slipped down the slippery pole to failure.

    It appears that history always repeats itself, just in a different guise.
  13. Well, if you believe Merril Lynch there's a one in ten chance that the UK will default on it's debt in the next five years.

    Which would be deeply interesting for everyone...

    London? More like Rekjavik on Thames ;-)
  14. There's a world of difference between being bankrupt and being a failed state. Civil society would have to break down completely for one thing.

    In deep, deep schtumm, yes. Failed, no.
  15. Well Greece is very close to civil breakdown, & they've been in an economic mess for years