Eurozone will collapse...
16-11-2016, 11:17
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#1861
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Re: Eurozone will collapse...
Just in case anyone was thinking that things are so much better over there:
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The European Commission will on Wednesday tell eight national governments from the eurozone, including Italy, that their national budgets are “at risk of non compliance” with the EU’s budget rules, Commission sources involved in the decision process told POLITICO. Besides Italy, these countries are Spain, Portugal, Belgium, Finland, Slovenia, Cyprus and Lithuania.
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http://www.politico.eu/article/italy...budget-hammer/
Brexit is a big deal fraught with risks and difficulties but let's not forget what we're trying to detach ourselves from eh.
Last edited by Osem; 16-11-2016 at 11:28.
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24-11-2016, 00:14
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#1862
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Re: Eurozone will collapse...
Quote:
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....
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Looks like small change now compared to the independently-costed Brexit costs!
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24-11-2016, 11:08
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#1863
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Re: Eurozone will collapse...
Looks like even smaller change compared to the scale of the problems inherent within the European banking system which are simmering away quite nicely.
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24-11-2016, 11:18
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#1864
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Re: Eurozone will collapse...
Quote:
Originally Posted by Osem
Looks like even smaller change compared to the scale of the problems inherent within the European banking system which are simmering away quite nicely.
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The Eurozone seems to defy gravity and carry on. The banks are a bit of an unknown.
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24-11-2016, 17:09
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#1865
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Perfect Soldier
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Re: Eurozone will collapse...
Quote:
Originally Posted by 1andrew1
The Eurozone seems to defy gravity and carry on.
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They're in that Wiley Coyote moment: The legs are still running but yet to notice the ground has gone and gravity is about to take over.
__________________
History is much like an endless waltz: The three beats of war, peace and revolution continue on forever.
However history will change with my coronation - Mariemaia Khushrenada
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24-11-2016, 19:30
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#1866
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Re: Eurozone will collapse...
Quote:
Originally Posted by 1andrew1
The Eurozone seems to defy gravity and carry on. The banks are a bit of an unknown.
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The only unknown is how bad it's going to get and right now Brexit has conveniently taken the focus off the EU's other fundamental problems.
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24-11-2016, 21:56
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#1867
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Cable Forum Team
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Re: Eurozone will collapse...
Quote:
Originally Posted by Osem
The only unknown is how bad it's going to get and right now Brexit has conveniently taken the focus off the EU's other fundamental problems.
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Could not have said it any better. The EU is a ticking time bomb, failure of the project is practically a dead cert, whether we had stayed in it or not.
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15-12-2016, 22:55
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#1868
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Re: Eurozone will collapse...
Quote:
The Greek parliament has defied the international creditors providing Athens' bailout funds and voted through a one-off payment to pensioners.
Plans for the €617m (£517m; $656m) pre-Christmas handout were opposed by European bodies negotiating Greece's financial lifeline.
A deal agreed earlier this month to provide the next tranche of debt relief for Athens is now on hold.
Prime Minister Alexis Tsipras said Greece would not be blackmailed.
Athens said the pension payment would come out of a €1bn tax surplus but European creditors on Thursday said the Greek move raised "significant concerns on both process and substance" regarding the country's bailout obligations.
In a joint statement, representatives from the European Central Bank, the European Commission and the European rescue fund said they would now decide whether to uphold a Eurogroup decision granting Greece short-term debt relief earlier this month.
Mr Tsipras said the situation had to be resolved "without blackmail" on the part of Greece's creditors.
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http://www.bbc.co.uk/news/business-38336423
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16-12-2016, 10:03
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#1869
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Perfect Soldier
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Re: Eurozone will collapse...
Meaning they dare not continue to bail out Greece because otherwise it would mean their beloved Euro would go down the pan. On that basis Greece can do what it likes.
__________________
History is much like an endless waltz: The three beats of war, peace and revolution continue on forever.
However history will change with my coronation - Mariemaia Khushrenada
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16-12-2016, 11:52
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#1870
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Re: Eurozone will collapse...
Yes and some folks still want us further shackled to this mess. How very weird...
Last edited by Osem; 16-12-2016 at 12:22.
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17-12-2016, 12:37
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#1871
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Re: Eurozone will collapse...
Quote:
Originally Posted by Osem
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Typical left wing attitude. Spend, spend, spend, and don't worry how we will feed ourselves tomorrow.
Greece deserves all it's going to get, I'm afraid. Thank heavens we will not have to cough up.
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17-12-2016, 12:45
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#1872
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Re: Eurozone will collapse...
Quote:
Originally Posted by Osem
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Five years on and the Eurozone seems no closer to collapse.
I used to believe it would but now I'm just wondering if it's all anti-EU spin. Yes, Germany has helped Greece financially but Germany gains from a weak Euro.
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17-12-2016, 13:17
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#1873
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Rise above the players
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Re: Eurozone will collapse...
Quote:
Originally Posted by 1andrew1
Five years on and the Eurozone seems no closer to collapse.
I used to believe it would but now I'm just wondering if it's all anti-EU spin. Yes, Germany has helped Greece financially but Germany gains from a weak Euro.
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The euro will never work until such time as all the participating countries come together as a new federal Europe.
You can't have different countries pursuing different economic and fiscal policies that impact on a common currency.
The EU is a mish mash bureaucracy that stifles business and innovation. It will ultimately implode and we will be fortunate indeed to have extracated ourselves from all parts of this mad European project.
It could be made to work, of course, but the Eurocrats simply don't have a clue.
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17-12-2016, 13:27
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#1874
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Re: Eurozone will collapse...
Quote:
Originally Posted by OLD BOY
The euro will never work until such time as all the participating countries come together as a new federal Europe.
You can't have different countries pursuing different economic and fiscal policies that impact on a common currency.
The EU is a mish mash bureaucracy that stifles business and innovation. It will ultimately implode and we will be fortunate indeed to have extracated ourselves from all parts of this mad European project.
It could be made to work, of course, but the Eurocrats simply don't have a clue.
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The Euro's been going 20 years and survived the 2007/8 General Financial Crisis so we can't pretend it doesn't work. Despite how illogical it may all seem when viewed from Blighty.
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17-12-2016, 13:46
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#1875
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Re: Eurozone will collapse...
Quote:
Originally Posted by 1andrew1
The Euro's been going 20 years and survived the 2007/8 General Financial Crisis so we can't pretend it doesn't work. Despite how illogical it may all seem when viewed from Blighty.
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It's 'working' a whole lot better for the Germans than the Greeks. As has been stated, what doesn't 'work' is the single size fits all economic policy which accompanies it and can't reconcile the major differences between the northern and southern EU states in particular.
Last edited by Osem; 17-12-2016 at 13:51.
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