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Eurozone will collapse...
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Old 29-06-2011, 10:52   #46
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Re: Eurozone will collapse...

Quote:
Originally Posted by Kymmy View Post
Show's how little you understand the issue..

If one country drops the euro then it'll strengthen the rest.. The "Next country" line was purely due to the continued recession and not the euro..

@Chris, You have to give them credit though that it lasted this long before one of them got into trouble.. There though always was going to be an issue with so many individual markets trying to link themselves to a single currency.. I would have thought that the simple fact that every country within europe will never give up their own governmental powers and totally default to a european central government for all aspects of rule would have meant that the euro could never be anything but an experiment..

I wonder if the european union will give a push to certain countries and force them to drop out and then at least the core countries from which the euro is stabilised will have a chance to continue??
Well maybe but here are comments from the Bank of England committee and another one from the IMF chief.

http://www.heraldscotland.com/news/p...isis-1.1108419

http://www.dailymail.co.uk/news/arti...=feeds-newsxml
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Old 29-06-2011, 10:56   #47
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Re: Eurozone will collapse...

Domino effect only has credence if they don't pull out of the euro and the other countries prop them up.. (I personally think that the other Eurozone countries will drop greece like a hot potato if it gets any worse)

You have to take articles in context and not as a blanket
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Old 29-06-2011, 11:04   #48
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Re: Eurozone will collapse...

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Originally Posted by Kymmy View Post
Domino effect only has credence if they don't pull out of the euro and the other countries prop them up.. (I personally think that the other Eurozone countries will drop greece like a hot potato if it gets any worse)

You have to take articles in context and not as a blanket
Well everybody to their own opinion but l am not sure the Eurozone countries will drop Greece as they are in this together or thats what they keep telling us.
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Old 29-06-2011, 11:08   #49
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Re: Eurozone will collapse...

If the greek vote goes against austerity measures then it'll be interesting to see how the main core of Europe and also of the IMF reacts..

ATM the benefits of the EU and of the IMF are finely balanced, if this takes it over the edge then we could see some drastic measures.. Throwing Greece to the wolves might be the only option to keep the balance intact. Remember we are in a worldwide recession still and most countries will have their back-up plan for self survival..
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Old 29-06-2011, 12:04   #50
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Re: Eurozone will collapse...

Interesting point from Robert Peston's blog
Quote:
Greece has what economists call a primary fiscal deficit, in that what it raises from taxes does not cover the basic running costs of the state, let alone its borrowing costs too.
And the banks can't be blamed for that, can they?

Not really a sound basis for going forward, is it?
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Old 29-06-2011, 19:45   #51
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Re: Eurozone will collapse...

Well the Greek parliment have voted with common sense and passed the Austerity vote

http://www.bbc.co.uk/news/world-europe-13960947
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Old 29-06-2011, 21:03   #52
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Re: Eurozone will collapse...

Quote:
Originally Posted by Kymmy View Post
Well the Greek parliment have voted with common sense and passed the Austerity vote

http://www.bbc.co.uk/news/world-europe-13960947
Let's hope they do a better job than they have managed so far collecting taxes.
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Old 29-06-2011, 23:31   #53
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Re: Eurozone will collapse...

Agreed, but why do the Greek masses dissagree and riot?

Do they not see that they are broke and there is no choice?
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Old 29-06-2011, 23:44   #54
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Re: Eurozone will collapse...

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Originally Posted by Tuftus View Post
Agreed, but why do the Greek masses dissagree and riot?

Do they not see that they are broke and there is no choice?
The old "somebody else's problem" syndrome - why should they have to pay for their profligate spending (early retirement, high percentage of pay as pension, general tax avoidance).
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Old 30-06-2011, 07:46   #55
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Re: Eurozone will collapse...

how about the moneys that greece makes from tourism whyb can that money not be used to help the people of greece and why cannot the fat cats in greece give up thier huge wages and live more sensibly like the rest of us
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Old 30-06-2011, 07:49   #56
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Re: Eurozone will collapse...

Quote:
Originally Posted by Tuftus View Post
Agreed, but why do the Greek masses dissagree and riot?

Do they not see that they are broke and there is no choice?
Because the Greeks are very tempermental and and hot headed by nature.
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Old 30-06-2011, 07:51   #57
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Re: Eurozone will collapse...

Actually, it is the fact that all levels of society have been avoiding paying taxes, not just the 'fat cats', and that Greece spent far more than it raised in taxes....

But hey - a class warrior never let's facts get in the way of a good diatribe, hey?
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Old 30-06-2011, 07:54   #58
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Re: Eurozone will collapse...

im nota class warrior i just say when i think summats wrong
its not the working people of this counrty that hide money in tax havens and employ top accountents to find loop holes to avoid payying tax
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Old 30-06-2011, 09:37   #59
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Re: Eurozone will collapse...

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im nota class warrior i just say when i think summats wrong
its not the working people of this counrty that hide money in tax havens and employ top accountents to find loop holes to avoid payying tax
As the kids say - ROFL......

I agree with you that everyone should pay their fair share of tax - however, avoiding paying tax is not illegal, evading it is...

Anyhoo, we were talking about Greece, where, as I stated, it isn't just the "fat cats", it is also the "working class" who avoid paying all the taxes they should....
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Old 30-06-2011, 10:22   #60
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Re: Eurozone will collapse...

Quite right - tax evasion as opposed to avoidance is virtually endemic in Greece. To that extent, whilst I sympathise with the problems ordinary people there face, they are in part responsible for it in just the samne way that those here who helped inflate the credit bubble with spending based on borrowing against their homes.
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