Brexit, for once some facts.
- Thread starter flecc
- Start date
There is a distinct aroma of Rodent about this leak so much so an enquiry is unlikely pretty much as usual
Indeed, when it found it couldn't face down the EU. That's why they failed and are getting chucked out. Boris Johnson will be no better.
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What wrong?
That's what I said, their divisive policies which never stood a chance. They had no option but to back down, threatened with being thrown out the eurozone.
The fact is that by following the EU policies instead they are well on the road to recovery, but quite rightly aren't going to get rewarded for it.
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it couldn't face down the EU because it is so much in debt to it. That happens when you deal with a loan shark
And how do you think they got into debt?
And it's hardly a loan shark's function to put them back onto the road to recovery is it?
You leave fans have a weird view of reality.
And why would that be? do explain, are we as bad at tax dodging as the Greeks where?
The Telegraph are majoring on the engineered downfall of our Ambassador
He has not served UK well'Trump blasts UK ambassador over memos as aides call for Darroch to be sacked
And the Frog prince has his two pennorth on the subject
Nigel Farage Sir Kim Darroch is totally unsuitable to remain as our man in the US
Perhaps so as his position has been deliberately sabotaged
The question should be asked "if that is the case, how can Boris be in a situation of being about to be elected Prime minister after the much worse gaffes he made with Regards to Trump?
What Irony! the Telegraph calls for the dismissal of our Ambassador for reporting what he sees as truth back to the Government
And at the same time Supports Boris for Prime Minister.
A Man who has made a career of bad mouthing people in far worse ways even when Foreign Secretary
He has not served UK well'Trump blasts UK ambassador over memos as aides call for Darroch to be sacked
And the Frog prince has his two pennorth on the subject
Nigel Farage Sir Kim Darroch is totally unsuitable to remain as our man in the US
Perhaps so as his position has been deliberately sabotaged
The question should be asked "if that is the case, how can Boris be in a situation of being about to be elected Prime minister after the much worse gaffes he made with Regards to Trump?
What Irony! the Telegraph calls for the dismissal of our Ambassador for reporting what he sees as truth back to the Government
And at the same time Supports Boris for Prime Minister.
A Man who has made a career of bad mouthing people in far worse ways even when Foreign Secretary
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In fairness, Greece seemed to be doing ok until they became more deeply integrated into the EU. That view seems to be held by the few Greeks I have spoken too.
The Greek economy isn’t a very good fit with Germany’s, sorry I mean the EU’s.
And they were doing pretty nicely while they continued to get away dodging paying out....
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My Italian brother-in-law estimates that when Italy transitioned to the Euro, it roughly halved his wealth. His savings had about half the buying power, post adopting the Euro.
He developed and built machines which stack multiple PCBs and then drill them. Many of his products are licensed and now used in smartphone production lines, including the iPhone amongst others.
Things got so bad, he and his family have become Swiss nationals and are now based there. He believes that the Euro is a disastrous idea. It cost him and many other hard working and creative individuals a fortune and de-incentivises businesses like his from starting up.
I’m sorry, but I have no idea what point it is that you are trying to make.
I suppose it depends on who you ask
https://www.telegraph.co.uk/news/worldnews/europe/greece/7646320/Greece-why-did-its-economy-fall-so-hard.html
" This was the view from the Telegraph ...
the European Union, at first, refused to allow the country to join the euro when the new currency started in 1999.
Quite simply, its debts were too high and inflation was out of control. By 2000, the EU finally allowed it to join, though there were suspicions at the time that Greece was operating a "limbo dance" – squeezing its figures to hit the stringent euro criteria, only for them to flip back to dangerous levels once it had entered. Indeed many believe Greece simply lied about its figures to gain entry.
At the time its inflation was 4 per cent, much higher than the European average, and was suffering from one in ten people out of work – a higher figure than currently in recession-hit Britain.
By joining the euro, however, it suddenly enjoyed substantially lower interest rates, because the it was able to borrow in euros. Whereas during the 1990s, Greece had frequently had to pay out 10 per cent or more (18 per cent in 1994) to borrow money, its rate fell dramatically to 3 per cent or 2 per cent.
Greece went on a spending spree, allowing public sector workers' wages to nearly double over the last decade, while it continued to fund one of the most generous pension systems in the world. Workers when they come to retire usually receive a pension equating to 92 per cent of their pre-retirement salary. As Greece has one of the fastest ageing populations in Europe, the bill to fund these pensions kept on mounting.
Tax evasion, endemic among Greece's wealthy middle classes, meant that the Government's tax revenues were not coming in fast enough to fund its outgoings.
Hosting the Olympics in 2004, which cost double the original estimate of €4.5 billion, only made matters worse.
By the start of this year Greece's debt had hit €300 billion, more than the entire value of its annual GDP. This is unlikely to fall quickly, as its current budget deficit – how much its borrowing exceeds tax receipts – is running at 13.6 per cent of its gross domestic product, twice the Eurozone average.
Things have come to a head because the international rating agencies have cut Greece's credit rating, concerned that it will default on its debts. This has the immediate effect – just as when a credit agency cuts a consumer's rating – of pushing up the cost of its borrowing, setting off a vicious spiral.
Just another cut and paste of course, but factual.
An excellent article pact full of evidence as to why the Euro is a thoroughly bad idea. It allows economies such as that of Greece to burden other countries with the results of their recklessness. As the article very clearly illustrates, there aren’t enough safeguards in place to stop this happening until it’s too late.
I can see the attraction of the EU to tin-pot “taker” nations such as Greece, Ireland and about 20 others. It’s like Mum & Dad giving a child a credit card and telling them to fill their boots. I guess Germany quite like it too, because once a nation is in hock, Germany effectively controls them. Did I once hear that Germany wanted to take land off Greece to settle part of their debt?
Despite all of this, I grudgingly still think we are better off in, gather than out of the EU.
At what point is it reasonable to use the same currency? And at what point should they use different currencies?
For example, should the Scottish pound not just be a piece of paper but a real currency which can move against the pound Sterling? Should there be a Welsh pound (or any other name you care to choose)? Or a Pembrokeshire pound?
And is it so very wrong to peg one currency to another? There are several which seem to be pinned to USD.
In the case of individual countries, I think they should have their own currency which has a relative and floating value to a currency of another nation. When you have a nation like Greece, with free money fountains in every town square, their currency devalues. One unit of their currency becomes worth less than say one unit of German currency. When Greece and Germany and others start using the same units of currency with no relative movement between the two (the Euro), and Greece don’t turn off the free money fountains, it causes problems for the others who shackled to this static unit of currency. We have seen this happening.
But say Bangcamelrancidesh, a nation who’s main export is goat herding manuals, decided to use the Goatdollar. How could that possibly be pinned to the US dollar a nation at the cutting edge of technology, industry and innovation? If Bangcamelrancidesh then decided to print loads of Goatdollars and give them to its population, say 10 000 000 Goatdollars each, effectively the whole country would become multi millionaires with spending power across the world, having done nothing more than switching on a printing press. You can call your currency whatever you like, but it has to earn its value relative to other currencies, ie not be fixed to it.
I think this is where the raging menstrual dwarf his her knickers in a twist. I think she believes that a post Scottish independence pound will have the same buying power south of the border as it did as part of the U.K. In reality, when when the dwarf starts her spending plans and it relies on Scotland’s earning power alone, 100 Scottish pounds might buy a battered sausage in England, on a good day.
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Wrong. The difficult to manage debt wasn't to the EU. It was Germany who reluctantly bailed out Greece to help keep the union intact.
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