Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
11 October 2010
08:5374474howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
11 October 2010
09:0274475interesting article, no great surprises in there, the union will collapse.
my view is still that germany will pull out of the currency first then others will quickly follow.
what surprises me is the current strength of the euro, most of us were predicting a steady decline in its value.
Guest 640- Registered: 21 Apr 2007
- Posts: 7,819
11 October 2010
09:0574476It always depends very much on who exactly is writing these features and where they are coming from to begin with. If say the guy is UKIP treasurer for example we are bound to get the picture slanted in a particular way. So all very much depends on the source and his agenda.
The first line of the feature says something that kind of put me off straight away because it says something that currently applies to everything and everywhere.
The whole EU according to this chap is "kept alive on a life-support system of taxpayer-funded bailouts". But doesnt that apply to everything right now. The US Economy, the UK economy, The Irish Economy, the world wide banking system? The UK and IReland would still be needing these bailouts whether they were inside or outside of the EU. I dont think there is any question about that.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
11 October 2010
09:1274478valid point paul but he also refers to the greek economy that shows no signs of ever being able to stand on its own two feet.
the bigger problem i think, is the new countries and the ones due to join up soon that see the european union as a cash cow.
Jan Higgins
- Location: Dover
- Registered: 5 Jul 2010
- Posts: 13,888
11 October 2010
11:2074483With the EU getting bigger and bigger with all the poorer countries now joining something has to give at sometime.
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I try to be neutral and polite but it is hard and getting even more difficult at times.
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Guest 694- Registered: 22 Mar 2010
- Posts: 778
11 October 2010
12:1874485from an economic stand point (stand back I am about to have an intelligent moment) the single currency is a complete nightmare and the worst idea ever.
Macroeconomic stabilization policy tries to keep the money supply growing, but not so quick that it results in excessive inflation and also too low, therefore shallowing out the boom and bust periods, by having a single currency you are implying that each country is in exactly the same economic climate, which clearly they are not, based upon the issues in Greece and Germany, so these countries cant use stablization policy to control their own interest rates, therefore making the boom and busts that much steeper.
And last time I checked the EU was a duff for us as didnt we pay more in than we actually got out?
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
11 October 2010
12:3874492not forgeting that we are on a different economic cycle to the main eurozone countries.
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
11 October 2010
16:3774526I have solemnly decided to boycot for a while any discussion on the e.u., and get back to my favourite pass-time of writing about our fair County of Kent!
Brian Dixon
- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
11 October 2010
16:5674530it seems like a torygraff rant to me,along with euro scticisam bias.
and by the way wot dose america know any way,as they are not part of europe and never will be.
greece though is another matter.
as howard says the euro is holding its own at the moment with the us doller and sterling weaking from day to day.
Guest 686- Registered: 5 May 2009
- Posts: 556
12 October 2010
16:5974665"...euro is holding its own at the moment with the us doller and sterling weaking from day to day"
So it's not as though the Euro is strong in itself, just that other currencies are weak. If Sterling and the Dollar pick up again then that will only make matters worse in the Eurozone! Bring it on, I could do with a pay rise!
Phil West
If at first you don't succeed, use a BIGGER hammer!!
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
12 October 2010
17:0374667phil,will that be in sterling,dollers or euros.
Guest 686- Registered: 5 May 2009
- Posts: 556
12 October 2010
17:0474668I get paid in Euros. I'm an export!!!
Phil West
If at first you don't succeed, use a BIGGER hammer!!
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
12 October 2010
17:0574669phil,thats a bonus then.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
12 October 2010
21:2574731Brian - you need to catch up with the pressures in the EU and on that pretend currency.
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
12 October 2010
23:0674755Phil, thought I'd just let you know, that if you go the bureau de exchange, you can buy euros, only, you can't tell whether they will increase or fall in value, so I personally would buy monopoly money ant try to land on Victoria station, and sell tickets to passers-by! That has about the same sense in it as suggesting we should convert to euros, Brian! It wouldn't change anything financially or economically! If you listened to news from other European countries, such as from Germany, it might illuminate you a little! Could it be that, when it comes to economy, you live in a dream world?
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
13 October 2010
07:5074768barryw,money talks and the euro is shouting.
alex,try kings cross better clianentale.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
13 October 2010
08:1774770Brian - no... It is a disaster and in crisis.
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
13 October 2010
12:1774796Well if one looks casually at the numbers on display at bureaus de change when walking by, you notice that there are periods when the euro goes down for a few weeks, then periods when it goes up in value.
It's a trend that effects most currencies, including the quid sterling, so nothing particular there. But, Barry, I suppose you might agree with me here, that both the pound and the euro are in a bad shape, mainly - or at least partly - due to the immense State debits that Britain and most western European countries have. So one of the actual solutions to resolving economic problems here and across the Ocean on the fair cliffs of Calais really lies in solving the State-debt factor, as this would also benefit the budget of individual countries. In fact a part of State budgets here and in Europe go on repaying debts and their interest, so, following the vicious circle, the Treasury makes new - and bigger - debts, to pay off old ones. See Greece!
13 October 2010
12:4174799Barry, surely the problem is that we must realise that currencies, like investments, might go both up and down.
If you look at the United States there is a huge range of 'affluence' or lack of it all kept together by a common currency.
Why can't the Euro do the same? I exchange my labour for 'tokens' which I exchange for goods. If the Economy is in tail-spin (like Greece/Ireland) then I will get fewer tokens for my labour?
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
13 October 2010
13:2074804The Euro is different because they are trying to cobble together a lot of different countries into a single currency. These countries have different needs and are on varying economic cycles. Each country, despite a common currency, sets its own economic policy, tax regime, spending and borrowing policies. This just does not work and we can see how the 'PIGS' are suffering so badly at the present time. They are locked into a rigid system in which the currency cannot float and take a part of the burden.
The USA is a single country though a Federal arrangement of different states.
One strong objection that I have for the EURO is not only that it does not work, as presently conceived, but it is a political rather than economic strategy. It is designed to be a part of a future European Superstate with, eventually a common economic policy, simply because that is the only way the currency can work. Even then there will be great difficulties.
I want nothing to do with any Soviet Socialist European Superstate deciding on my tax rates or anything else to do with economic policy here in the UK.