Eurozone will collapse...

[Osem]

Jack Straw has predicted the collapse of the eurozone and urged the UK to consider the "alternatives" as the Greek debt crisis worsens.

http://www.bbc.co.uk/news/uk-politics-13839381

I seem to recall quite a few pronouncements Jack Straw made which didn't come to pass but is he right about this?

[chris9991]

He is probably understating how bad it will be and for how long risks will remain. It's highly likely that due to the UK proximity that we'd be sucked in. At worst we could lose a lot of trading partners (due to their economic difficulties).

At best it could just affect some very wealthy individuals and countries ( I can't see this happening though)

I think what we might have to prepare ourselves for is what happened to Japan after it suffered in 1990. It had a lot of similarities to the economic outlook that we face now - property bubble popped and an ageing population

[Derek]

I reckon in years to come Gordon Brown, regardless of his other faults, will be seen as quite good for putting his foot down and not allowing Blair to drag us into the Euro.

It's time seems to be drawing to a close in it's current form, a one size fits all policy for Europe was never going to work.

[Chris]

I guess we have to credit Brown with something ... It might as well be rescuing us from the Eurozone nightmare.

[heero_yuy]

Unfortunatly though being members of the IMF our backsides will be in the sling when the recue packages have to be put together.

[Hom3r]

I think we should leave the EU. We are one of the founding nations and yet our voice seems to have been drowned out.

[Chris]

We are neither a founding nation of the EU, nor are we a member of the common currency of the EU.

[Osem]

Aside from the fact that 'one size fits all' economics evidently doesn't work, it seems to me that the EU is fundamentally flawed in the sense that the larger it's become, the less able it is to be decisive when tough action is required.

I always felt there'd be a growing sense of them and us between the member states of the EU and the notion that we'd all live happily ever after in prosperity would be shown to be a pipe dream.

I really do think there's a lot worse to come.

[denphone]

Originally Posted by Chris

I guess we have to credit Brown with something ... It might as well be rescuing us from the Eurozone nightmare.

l will have to put this on record on you praising Gordon Brown.

[devilincarnate]

Originally Posted by Osem

I really do think there's a lot worse to come.

Yes I believe this as well, as we/others are the ship and they are the iceberg

[Anonymouse]

Keeping us out of the euro was the only good thing he did, really. Who was it who wasted £10,000,000,000 of our money trying uselessly to keep the pound in the ERM, though? Was that Brown?

A single currency can't work unless it's the only currency, anywhere. Oh, that's so likely, isn't it?

I'm only surprised the damn thing's stil going. The sooner it collapses and we can get on with our lives, the better.

[Hugh]

£3.3 billion, to be accurate, of which £2.4 billion was lost profit of not keeping enough foreign currency reserves to profit on Sterlings devaluation.

All down to Norm Lamont....

[denphone]

Originally Posted by Hugh

£3.3 billion, to be accurate, of which £2.4 billion was lost profit of not keeping enough foreign currency reserves to profit on Sterlings devaluation.

All down to Norm Lamont....

Nice to know you are blaming a politician other then a labour one.

[Damien]

Originally Posted by Hugh

£3.3 billion, to be accurate, of which £2.4 billion was lost profit of not keeping enough foreign currency reserves to profit on Sterlings devaluation.

All down to Norm Lamont....

Norman Lamont! Knew it was him! Even when it was Gordon Brown I knew it was him!!

[denphone]

Originally Posted by Damien

Norman Lamont! Knew it was him! Even when it was Gordon Brown I knew it was him!!

You sure about that.