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More money into the bottomless Euro Pit....


Bazj
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Looks like we will be bailing out Portugal to the tune of 3 or 4 billion quid in the coming weeks. All the money saved in the cuts has already been given away to Greece, Ireland and now Portugal. Spain will be next and then...............

 

The final nail in the coffin for Europe surely and yet another reason why the Government won't give us a referendum on the subject.

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But Davey Wavey said its in Britains interest to stay within the EUSSR! You aint going to get anything close to a referendum with the lib/lab/con coalition.

 

Even if we do get a refendum, it will simply be a repeat of Ireland referendum on the lisbon treaty round 2 (coz they voted the wrong way the first time, tut tut) there will be biased reporting on the referendum (especially since Chris Pattern is chair of the BBC trust!) millions from the EU comission (our money), plus many more millions from big businesses will be poured into the stay side, while on the leave side there will be Nigel Farage delivering a couple of thousand leaflets or something, since we wont have the backing of the "evil empire", with billions at their disposal.

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That seems to some up the futility of UKIPs democratic attempt to represent the overwhelming inclination of the British people on this issue. Hopefully, the EU will collapse through it's own internal beaurocratic inefficiencies and incapacity - and a start could be the collapse of the Euro-zone. :roll:

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As I said somewhere else, You need to no how much the British banks have invested their already :!: because if Portugal goes down we might end up paying anyway as the British banks have trillions in property ect over their. For the British it is nothing to do with the Euro and all to do with protecting our investments :!::wink:

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The Spanish are denying that they'll be in the same boat as Portugal, as their economy is larger and more robust, and they are pursuing the required austerity measures. However, what does seem apparent, is that a one size fits all Euro-zone is basically flawed because different economies have different economic cycles, and are thus out of sinc with each other. :?

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You forgot the fact that some Countries lied about the state of their economies to get in the zone in the first place :wink:

 

As far as I know, only Greece failed to meet the criteria, but at the time it was "the more the merrier", the eurocrats aim is indeed to have one state at any cost (even if it puts millions of Europeans out of work).

 

Ireland went simply because during the boom years, money was extremely cheap (interest rates were too low for the Irish economy), mortages were given to every Tom, Dick and Harry, this cheap credit was pumped into the housing market, of course the bubble burst, banks went bust, and the government simply could not afford to bail out the banks, and it ended in tears :roll:

 

This faliure in the experiment has clearly demonstrated that you cannot have one single monetry policy over several different countries, with different systems, needs, wealth, etc. It is impossible. Look at the 1992 fiasco, Britain Entered the European Exchange rate mechanism (early version of the Euro), sterling was pegged to the Deutchmark, and the economy crashed! interest rates spiked, many lost homes, etc.

 

Gorbon Brown did do something right. It was to keep Britain out of the Euro, and its certainly paying off.

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Brown only kept the UK out of the Euro because he knew the people did not want anything to do with it and he was afraid of the political backlash from joining......just look how he signed the wotsit treaty in private and away from the cameras after all the other countries had signed in a blaze of photographers....

 

Thankfully having such a bottler as a leader did us a favour!

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How naive you are Ricky, One way or the other the Euro will not fail :wink:

 

The Euro in its current form will most defintley end this year. What I predict will happen is the more stronger countries in the North will continue with the euro, while the weaker countries will either form a second tiered euro, or simply go back to their old currencies.

 

a big problem is the eurocrats. They are extremely arrogant. They think that they can go against market forces, plus the euro is simply a stepping stone to the US of E whch the majority dont want (no votes in France, Holland, and Ireland (twice).

 

Bookmark this page Lt Kije, and if the euro is still in its current form on January 1st, 2012, remind me, and ill send you a crisp ?10 :wink:

 

he signed the wotsit treaty in private and away from the cameras after all the other countries had signed in a blaze of photographers

 

Im sure one of the Millibands signed the lisbon treaty (with no referendum), the only other guy who diddnt do it in a blaze of cameras was Valclav Klaus, the Czech president. After Ireland was bullied into voting yes, Klaus refused to ratify it, he was the very last hope at the time. :(

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