Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
News through today.
Germany is still doing well, relatively speaking, but that is very much at the expense of the weaker Eurozone economies.
If they were outside the Euro, Germany's currency would very likely be a third higher, while the weak countries, such as Greece, need up to a 50% devaluation to make their economies competitive.
It is mad to persist with such an unbalanced currency union.
Guest 698- Registered: 28 May 2010
- Posts: 8,664
The Germans have painful experience of an unrealistic currency union with the monetisation of the Ostmark in 1990. I'm surprised they have let this one drag on so long.
I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
Guest 693- Registered: 12 Nov 2009
- Posts: 1,266
Idealism, Peter. Like a dog with a bone, they will not let go.
True friends stab you in the front.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
agreed it all just a political dream, the bubble will be burst when on of the stronger economies pulls out of the currency.
my money is on finland as public disquiet about monetary union is growing.
Brian Dixon
- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
mmmm intressting news.we are now entering a triple dip ression our selves.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
No Brian, it is not impossible but there is no immediate likelihood.
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
errrr yes barry,thats what mervin king from the BoE was saying last night.he allso went on to say that the uk will take untill 2015 to get out of debt.a long and winding road his words not mine.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
Brian - It will take an awful lot longer than 2015 to get the UK out of debt, by then we might have eliminated the structural part of the deficit but not out of debt. Even then more cuts are needed to get there. You clearly do not actually understand what King actually said Brian as I am sure he did not mix up debt and deficit.
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
barry,if you heard what mervin king said,a tripledip resesion is on the cards.he all so said that it will not be 2012 but 2015.and it will be a long and winding road.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
Ah yes Brian - a 'long and winding road', yes it will be without a doubt, nothing new there and while identifying a risk of a triple dip along the way he did not say there is going to be one in the same way he did not make the debt comment you claimed.
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
good morning barry,the triple dip will come this quater with out doubt,when energy prices start to bite,along with the 3p rise on petrol prices.
Guest 653- Registered: 13 Mar 2008
- Posts: 10,540
I understood it was the Euro-zone countries that are entering a triple-dip recession, not the U.K.
It seems to be the Northern European countries that are doing better, have stronger economies (Germany and France), than the Southern European countries; the southern ones tend to have warmer climes and rely on tourism (Spain, Greece, Cyprus, Portugal, Italy) which, because generally there is less money about, have suffered most because people are taking fewer holidays.
Roger
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
Brian - no you are confusing rising prices with recession. Under the definition of a recession there will certainly not be a triple dip this quarter - there cannot be simply because of the significant growth bounce last quarter..
Guest 716- Registered: 9 Jun 2011
- Posts: 4,010
# 5...spot on.....but `we` and Sir Melvyn King Governor of the Bank of England do not `understand`..........now waiting for a
graph !!!!!
# 12....??........previous posting else where...Bank of England.....doom and gloom.....not suitable reading for some....report
there is a prospect of a ``Triple Dip Recession``and has slashed growth forecasts and hiked inflation forecasts and
unveiled the `gloomiest` set of economic projections for the ``````UK`````` since the Bank of England`s
Independence in 1997.............don`t shoot the messenger......
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
Reg - the ones need shooting are those responsible - your mob of incompetents who ran the economy into the ground over 13 terrible wasted years. Once again it entirely suits your personal agenda to misrepresent why King said.
I realise you fear graphs, they demonstrate the facts that you prefer to hide from.
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
barry,a uk triple dip is a realaty.just you wait and see.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
Only in your imagination.
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
barry as i said we will wait and see who is right,ok then.
Guest 725- Registered: 7 Oct 2011
- Posts: 1,418
Ahem, here's what Merv actually said:
"Continuing the recent zig-zag pattern, output growth is likely to fall back sharply in the fourth quarter as the boost from the Olympics in the summer is reversed - indeed output may shrink a little this quarter, If that period of contraction continues into 2013, the UK could drop into a triple-dip recession.
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
Barry, the whole theory is floating in the air:
firstly, as things stand now, unless the Tories made a very big U-Turn and did something tangible, they will not be around in Government after 2015 and won't be telling us what debt and which deficit will be dealt with.
Their LibDem partners are losing their deposit at parliamentary by-elections, UKIP is at 14% having increased four-fold since 2010, and I really can't see the Tory party being elected back into Government at this point, as their popularity is sinking way south.
So I wouldn't put too many cards on "long and winding roads" forecast by the Cabinet, as they will probably not be dictating our economic future before long..