Guest 745- Registered: 27 Mar 2012
- Posts: 3,370
Spanish win the euro millions
Remember that 10 billion Osborn gave away to the EU, without consulting parliament, or the poor sods' that actually had to go out and work for it ,come to that
Well they just give it to the Spanish.
Just think what this money could have got for the British people.
In Cameron's and Osborn's word, others come first;
Theirs got to have been some freebee Villars chucked in there for them.
Brian Dixon
- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
kiethb,did it have bank of england written all over it with mervin kings moneker all over it.
any way it was 100 billion euros just for the record.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
that doesn't sound right brian, i don't know the figures but 100 billion does sound a touch on the high side.
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
as reported on sky news.
Guest 745- Registered: 27 Mar 2012
- Posts: 3,370
The UK extra contributing to the IMF fudge fund 10 billion
The total could be around 125 billion Euros
Snippet of the .NET Brian. 22 Apr 2012
Mr Murdoch, the chairman and chief executive officer of News Corporation, wrote on Twitter, the social networking website, that the Government "must be mad" for agreeing to contribute additional funds.
Critics, including many Tory backbenchers, oppose giving more money to prop up struggling eurozone economies, describing the move as "throwing good money after bad".
But Mr Osborne has stressed that a well-funded IMF is vital to ensure global economic stability.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
it is not as if the average pedro will benefit from all this largesse, the money goes to those who caused the current problems.
http://www.guardian.co.uk/world/2012/jun/09/spaniards-bleak-future-austerity-bitesBrian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
kieth b,at current exchange rates 10 billion quid equate to 16 billion euros max.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
My blog, done Saturday morning is on this subject. 100bn Euros is the correct figure given to Spain, not contributed by the UK incidentally, one that was not known when I did my blog.
It was given by the European Financial Stability Facility (EFSF) - and will be overseen by the IMF.
Good money after bad...
I will be changing the blog Monday morning.
Guest 725- Registered: 7 Oct 2011
- Posts: 1,418
As I've warned for some time now prepare yourself for a global depression. Don't listen to economists, pundits on the telly, politicians (especially tory politicians) when they tell you that we are prepared for it.
It's very close now. Stock up on cheap food, pay off debts if you can, be extra nice to your boss, take up a cheaper hobby and call on your inner strength cos your'e going to need it.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
you are a bit of a doom and gloom merchant philip but i think that you are not exaggerating the gravity of the situation.
i watched president obama the other day and he was clearly stressed out over the eurozone situation.
mrs merkel thinks that if we all become one country problems would be instantly solved.
i have been monitoring the overall situation and all i can see is politicians of every hue and country looking earnest in the hope that someone else is clever enough to come up with a solution.
the funniest of all was boy george with his insistence that our recovery was being held back by the eurozone crisis.
must be me but i never noticed that we were recovering.
Guest 725- Registered: 7 Oct 2011
- Posts: 1,418
Howard, by nature I'm an optimist and reasonably happy considering what life has to offer but if it looks like a duck and smells like a duck then the chances are that you are looking at a duck. It's all part of the long wave cycle recognised by sensible economists in the same way that the hockey stick graph cited by climate weirdos is recognised as a fraud by real scientists.
There's nothing that the world can do about the oncoming express train. All you can do is prepare as best you can by ensuring that you save as much cash as you can, don't get into debt, buy frugally and think to yourself do you really need that widescreen tv after all there's one, unused, in the market square anyway.
There is no growth vehicle on the horizon. In years gone by leaps in technology have launched economic booms which in turn led to growth in the wider economy. Think the industrial revolution, the invention of wireless, television, the car, the internet etc.
As for Osbourne blaming the eurozone this is a prime example of why we should place no faith whatsoever in those in government especially in bad economic times as they get more desperate with each passing day. They will lie (as Osbourne did today) and still think that people are unable to spot their lies.
A tip: When Cameron or Osbourne tell us that our banks are safe (they will, more and more as the end game nears) that is the time to withdraw as much cash as possible for obvious reasons.
Judith Roberts- Registered: 15 May 2012
- Posts: 637
PhilipP you are a natural optimist out of the same mould as my husband! However he is expecting a miniboom in equities this year before it all goes pop.
Guest 725- Registered: 7 Oct 2011
- Posts: 1,418
Judith your husband is probably correct especially if there is another bout of QE which always has the effect of boosting the stock markets until the high wears off and the hangover begins. Tell him to watch out for the dreaded dead cat bounce which catches the unwary as the following day they find their shares worth tuppence.
Sounds like a sensible bloke, your husband.
Guest 725- Registered: 7 Oct 2011
- Posts: 1,418
As if you didn't need reminding that this tory led shambles were more inept than even I could have imagined I highlight this little snippet which might help to explain why the Cameron can no longer be considered a true Tory:
http://www.londonstockexchange.com/news/personal-finance/newsbespoke-budgeting/215-nearly-half-of-brits-plan-to-avoid-air-passenger-duty.htm
This is one small example showing how faux environmentalism and ridiculous ideas put the UK economy at great risk.
Isn't it strange that once U-turn Camerlot warned us all that climate change was the most important issue affecting mankind and yet we haven't heard a peep about the subject since the financial turmoil really hit the headlines. Of course his defender(s), those blind to real politik on this site will choose to ignore the government's shortcomings of which there are many.
Interesting to note that some backbenchers are embarrassed by Osbournes miserable excuses regarding the UK's growth and the eurozone. They're that desperate that they are considering a referendum on our membership of the eu. Good grief Carruthers things are really getting desperate for the blue hippies now.
Guest 653- Registered: 13 Mar 2008
- Posts: 10,540
I think it is eminently sensible for people to try and avoid this stupid and unnecessary tax, but what that report doesn't say, is the cost of driving to Amsterdam, Paris or where ever, plus the cost of parking the car for the duration of their holiday and maybe an over-night stay. Convenience must play a part in the decision-making.
If the weather was better, maybe more people would holiday here, but there's never more than a couple of days before another rainy day or high winds.
People have lost their "feel-good" factor. Always important, especially at election time.
Roger
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
roger,just a jot to remind you that eurostar runs to paris and brussels,so no need to drive.and amsterdam is only 1 hour train ride from brussels.going on from that the continental train services are cheaper and run better than ours.
Guest 653- Registered: 13 Mar 2008
- Posts: 10,540
But what is the cost of the Eurostar Brian ? I know it goes to Paris and Brussels, but with 2/3 kids in tow and all the luggage to carry on an off the trains etc. it'll be no fun.
Roger
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
roger,it depends on what deal you want,the genral rule is the earlyer you book a ticket the cheaper it is.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
If everyone were to take Philip's advice then you really would precipitate a crisis. There is no doubt that we have a serious situation but there is no need to flap around and panic like some demented parrot.
We have a crisis cause by too much irresponsible government tax, spending and borrowing added to a mad currency experiment.
The currency experiment needs to be dismantled and governments must cut back spending (in the UK as well as the Eurozone) while deregulating business and in particular the labour market to help tackle unemployment. Politicians do know what needs to be done but some (many) are held back by their ideology and crazy belief in themselves and big government.
As for the comment about equity markets, these are in for a lot of wild swings and no-one should take short-term bets.
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
It is interesting to see what Bruce Anderson writes about this:
http://conservativehome.blogs.com/thecolumnists/2012/06/bruce-anderson-.html
He is spot on in his view and it is what I have been saying all along. The Eurozone must put its pride and vanity aside and deal with the crisis, better a short-term crisis to spark a recovery than a long-drawn out death.
