howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
i have been reading up on the situation in greece and there are similarities with our situation.
there is a strong argument that those paying the heaviest price are those that didn't cause the problem in the first place.
we hear that here and in greece, a teacher interviewed that after 20 years service she was only on 150 euros a week with a wage cut on the way and prices escalating.
where they are different is that there is no section of society that supports the austerity measures and th universal hate figures there are the politicians, most of whom employ bodyguards wherever they go.
the situation is so serious that where top restaurants had photos of top politicos dining in their establishments, they are all ripped down.
Guest 645- Registered: 12 Mar 2008
- Posts: 4,463
Jack Straw can no longer bear to witness the painful deterioration of the single European currency and thinks it is time to let Dignitas to do the decent thing. After a promising start in life, the Euro has descended into a seemingly endless cycle of suffering, with problems in its Eire and an embarrassing situation in its Portugal.
But the former foreign secretary feels the recurring problem that the currency has with its bottom could be terminal, and should be dealt with accordingly. "This is a hell of a lot worse than a case of piles," Mr Straw told the Commons. "And I'm sure every MP here knows just how bad that can be, with us sitting on our arses all day." "But we can no longer sit on this situation with the Euro so I'm of the opinion that it must be killed, but in a nice way, with sympathetic smiles and comfy pillows."
"And of course, that all important lethal overdose of powdered pentobarbital."
Straw described the investment of €4000 in the currency's assisted suicide as a 'bargain' in comparison to the proposed €10 billion bailout 'which would only prolong the agony'. "Then the remainder could be put aside for similar pain-ending procedures for all of these failing economies, perhaps even our own," he added.
"Though I think we all know that the NHS will be well ahead of it in the queue." A pro-life campaign has surprisingly been mounted by several eurosceptic Tories, but only in the hope of seeing the Euro writhing in agony during a long, drawn-out death
Courtesy of newsthump
Marek
I think therefore I am (not a Tory supporter)
Brian Dixon
- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
and of course jack staw is a eurosceptic,he would say that.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
i never knew that jack straw was eurosceptic, certainly surprised to hear his view on the currency.
i think that the more mrs merkel presses ahead with her total committment to the currency, the more the german public will want to revert to the deutschemark.
Should never have gone into the Euro. Won't bang on about it, but it was always a shabby idea.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
so right Bern - very much a political and not economic project.
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
i like the concept of the euro,allso like spending them in differant european countries without having wads of differing currency.
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
Brian, there are a lot of people who like euros, and that is why they keep asking for them!!!
Give 'em a spade and hoe, I say, they should work for their euros, or do they think we are Father Christmas and grow euros on trees?
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
alex,yes to that.i have got a euro tree in my garden,
Guest 640- Registered: 21 Apr 2007
- Posts: 7,819
I was urprised to see Jack Straw writing off the Euro in the House of Commons. Mr Cameron totally disagrees and its not political point scoring either. Cameron said yesterday that the 17 nations of the Eurozone cannot afford to let it fail and wont
"They have so much invested in the Euro that they will not let it fail" said Cameron.
It is in everyones interest, particularly so for this country, to see a thriving Eurozone. Masses amount of our exports rely on contracts with our Eurozone neighbours and woe woe thrice woe should a collapse occur.
I think many would like to see Greece go it alone and leave the Eurozone in peace...but the country would be bust completely without propping up from the EU.
The UK not being members of the Eurozone club will not have to fund Greece any further.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
i thought that the last administration had signed us up to helping out ailing eurozone countries?
i don't really see the collapse of the currency being a great problem, people we buy and sell to will simply do so in their own currency,
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
howard,having one currency makes it cheaper,especialy at the current exchange rate charges.
Guest 640- Registered: 21 Apr 2007
- Posts: 7,819
Howard I think there would be unprececended chaos if all the nations tried to return to their original currencies. It would be an international nightmare. Who would know what each of the currencies would be worth, how would they pitch their value in relation to each other, how would trading work when people wouldnt know the value of anything.
It kind of worked for a few centuries.......
Guest 640- Registered: 21 Apr 2007
- Posts: 7,819
Well you can see how volatile international markets can be.. those few centuries are gone and now there is the Euro. Trying to return from whence we came would be a massive problem. People would adopt the international currency of the dollar I suspect as a stable trading token.
I don't know, PaulB, I think it would be worth the effort. More of a challenge than a problem!! I can see the pitfalls, but I really think we could do it..........
Guest 645- Registered: 12 Mar 2008
- Posts: 4,463
Just in case we are in any doubt about how bad the problem is here is a paragraph out of todays Daily (I spit on your grave) Mail.
Britain could be hit with losses of up to £366billion from the collapse of the Greek economy, it has emerged. The warnings came as the Greek government last night won a vote of confidence in the Athens Parliament, clearing the way for a second bailout to go ahead. The crunch will come next week when the Greeks vote on a £25billion austerity package demanded by the EU before they hand over any more cash. The potential devastation of banks and other City institutions would be equal to 24 per cent of our annual national output, or £14,640 for every family in the UK.
Marek
I think therefore I am (not a Tory supporter)
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
some frightening figures being bandied about here.
i cannot see the bubble and squeak government agreeing to the austerity package, there would be violence on an unprecedented scale from the public, probably leading to a return of a military regime.
Guest 640- Registered: 21 Apr 2007
- Posts: 7,819
Marek the losses from any collapse would be huge as you quote there from the Daily Mail. There was talk last night that it could lead to another global crash as was heralded originally a few years back by the demise of Lehman Bros. The scale of loss would be enormous because so many banks are exposed. At a stroke all the Greek banks would go bust instantly if Greece defaults. Other global banks are very exposed to the greek banks so you can see how it works...like ninepins.
And all so predictable at the start...............
