Eurozone will collapse...

[Osem]

Spain's unemployment rate soared to a new record of 27.2% of the workforce in the first quarter of 2013, according to official figures.

The total number of unemployed people in Spain has now passed the six million figure, although the rate of the increase has slowed.

The figures underline Spain's struggle to emerge from an economic crisis which began five years ago.

A big demonstration in Madrid is being planned against the austerity measures.

On Friday, Prime Minister Mariano Rajoy will unveil fiscal and policy measures aimed at halting recession in the eurozone's fourth-largest economy.

http://www.bbc.co.uk/news/business-22290422

Another economy built and now failing on the back of a property boom.

[thenry]

The age of austerity is over. Why? It doesn’t work
If ever George Osborne wanted an excuse to embrace Plan B this is the moment

http://www.independent.co.uk/voices/...k-8586201.html

If the Independent believes the extremely mild fiscal contraction taking place in the UK is in any way comparable with the vicious spending cuts being imposed on the Club Med Euro states, then it is economically illiterate. However, I am quite sure it is fully aware of what it is doing, namely using the vague word 'austerity' and assuming its readers are too stupid or too prejudiced to bother looking behind it to see what it actually means.

[Osem]

We certainly haven't suffered 'austerity' anywhere near on the same scale as Greece, Portugal, Ireland, Spain, Cyprus etc.

[Sirius]

Originally Posted by Osem

We certainly haven't suffered 'austerity' anywhere near on the same scale as Greece, Portugal, Ireland, Spain, Cyprus etc.

Thats because we are not part of the Euro wreck

Having properly read that article (another opinion piece, incidentally), I think its cavalier treatment of fact is disgraceful, especially given the qualifications and the experience of its author.

The countries he cites have been suffering savage cuts that vary from four to 12 times worse than anything we have seen in the UK. the medicine is too severe and is killing those economies. Here in the UK on the other hand the 'austerity' amounts to no more than 1pc of GDP. We have no catastrophic rise in unemployment (in fact, we have rising employment and a small, recent rise in our unemployment stats can be explained as still more people wishing to become economically active and registering as looking for work); the deficit, like an oil tanker, has finally started to respond to the helm; and the economy is growing, weakly but ahead of expectations.

The simple fact is this: you don't solve a debt crisis by piling on more debt. A further simple fact is this: the Club Med problem is of a completely different order and nature than the UK problem. Their currencies have been pegged to the D-Mark and the cracks wallpapered over with € symbols. The Eurocrats won't countenance any talk of the actual problem (the Euro) or the actual solution (breaking up the Euro) so they are perpetrating fiscal terrorism on the Club Med states in order to bring wage-earners to their knees and make them work for a pittance in Euros.

[Osem]

I dare say 'qualifications and experience' come second to short term political goals even when the stakes are as high as this.

Every time this thread appears in the "Todays posts" part of the forum i read the title " Eurozone will collapse..." and immediately think "i wish it would bloody well hurry up and collapse"

Just thought i'd get that of my chest

[Osem]

lol

I don't want it to collapse - I'd prefer there to be an orderly restructuring and an abandonment of the single state/currency nonsense which is at the root of all the problems. Sadly it seems the Eurocrats are prepared to push Europe right to the edge of oblivion in order to pursue their misguided dream. Let's hope they don't wind up pushing us all over the edge.

[Sirius]

Originally Posted by martyh

Every time this thread appears in the "Todays posts" part of the forum i read the title " Eurozone will collapse..." and immediately think "i wish it would bloody well hurry up and collapse"

Just thought i'd get that of my chest

I will smoke a cigar and have a good tot of whiskey when it finally bites the dust. I just hope that day comes soon.

[Dash: CF noob]

I have a nice cuban around somewhere

Originally Posted by Dash: CF noob

I have a nice cuban around somewhere

why would you want to smoke a boot

[Sirius]

Originally Posted by martyh

why would you want to smoke a boot

[Osem]

The European Central Bank (ECB) has cut its benchmark interest rate to a new record low amid ongoing worries about the eurozone's economic health.

http://www.bbc.co.uk/news/business-22369765

Worries about eurozone economies were underlined on Thursday with data showing manufacturing activity across the 17-nation bloc shrank in April.

In Germany, the eurozone's biggest economy, manufacturing contracted for the second month running.

Oskar Lafontaine, the German finance minister who launched the Euro, has called for the "catastrophic" single currency to be broken up:

http://www.telegraph.co.uk/finance/f...broken-up.html