Failed states in Europe?

#1
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.

http://www.ft.com/cms/s/0/e0a7fb60-e1aa-11dd-afa0-0000779fd2ac.html?nclick_check=1

msr
 
#3
Stanley1975 said:
Worrying, but it takes a lot more to be qualified as a failed state.
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*
 

BuggerAll

LE
Kit Reviewer
Book Reviewer
#6
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

Portugal
Ireland
Greece
Spain
 

Alsacien

MIA
Moderator
#10
Ancient_Mariner said:
After our own little bout of 'quantitative easing', he'll have the Bank of England start printing Euros to save our EU partners.
...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:

'FAILED STATES NEAR EUROPE'.

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
smartascarrots said:
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.
Well Greece is very close to civil breakdown, & they've been in an economic mess for years
 
#16
Greece, well the EU bent the rules to admit Greece with it's then current debt, now maybe they will have to suffer the consequences.
john
Bendier then Lord Mengler of Hampstead Heath.
 
#17
tmsbry said:
smartascarrots said:
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.
Well Greece is very close to civil breakdown, & they've been in an economic mess for years
The economy might be up shite creek at the moment, but they are hardly close to civil breakdown, rioting by students is hardly a new thing in Europe,, black death, famines, wars ect, people came through them.....the banks get wobbly and we all are about to piss ourselves, our ancestors must be spinning. :oops:
 
#18
smartascarrots said:
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.

As one Arrser once put it;

'The MEEK are getting ready'
 

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