Uncharted waters.
The Euro Zone Banks
- Thread starter festive
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Uncharted waters.
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You can be sure that damaging yourself will cause damage.
We already established that hardcore Brexers don't mind damaging the country, so no surprise that filly and his buddies are unconcerned.
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Why is this clown (along with one or two others) still allowed to post on this forum? I thought he was beggering to join his beloved EU or where ever.
Before Covid-19 Brexit was going to cause economic pain. Some hoped it would eventually recover and get better in time but others thought it would probably get worse to start with and stay worse indefinitely.
Now everything is up in the air. Brexit will get a lot less attention from the EU and if they decide the best way to recover is to cut us out then we might take a massive hit. On the other hand if we're out the EU then there may be some mechanism that we can use to sustain the economy that wasn't available, god knows what.
Now everything is up in the air. Brexit will get a lot less attention from the EU and if they decide the best way to recover is to cut us out then we might take a massive hit. On the other hand if we're out the EU then there may be some mechanism that we can use to sustain the economy that wasn't available, god knows what.
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Indeed Pete indeed... squeeky mouse has no home and therefore just moans about everything because there's nowhere to belong.
Why all this garbage again - the uk did just what the eurozone did and others - bailed out banks and printed a lot of money under the name of financial easing just like others.
So as usual some one finds something on the web that agrees with their view when in real terms they haven't the remotest idea of what is going on. LOL They probably never will have any idea. Pointing out Iceland as being different is some kind of poor joke. Thanks to CV19 they had to apply $2billions worth of stimulus with a population of just 300,000 reasons being the same as here. All they really have is fish and tourism. They had a $2,2billion trade deficit in 2018 so sort of joined the "club". It's been increasing year by year. The place is probably in real terms in more of a mess than others.
Fact CV19 means all countries are going to finish up with a lot more debt one way or the other. It can come now or later due to unemployment or shades of in between. End result a level playing field and economic views change to suite as they always do. The countries where it will have least effect are the ones that managed to clamp it down / let it run out relatively quickly. The excuse here is that these countries are more dictatorial. S,Korea for instance passed a few laws. Curious that we passed one anyway.
The bank bailout was the 2nd one. The last one was done via higher interest rates. Personally I favour that because it reduces property prices and I don't give two hoots as it hurts far fewer people than just continuously finding ways of maintaining them. Unfortunately it's not that simple - house prices for instance go down but mortgage costs go up but savings become attractive and that helps the economy. Currently they are continuously devalued year by year so debt becomes more attractive.
So as usual some one finds something on the web that agrees with their view when in real terms they haven't the remotest idea of what is going on. LOL They probably never will have any idea. Pointing out Iceland as being different is some kind of poor joke. Thanks to CV19 they had to apply $2billions worth of stimulus with a population of just 300,000 reasons being the same as here. All they really have is fish and tourism. They had a $2,2billion trade deficit in 2018 so sort of joined the "club". It's been increasing year by year. The place is probably in real terms in more of a mess than others.
Fact CV19 means all countries are going to finish up with a lot more debt one way or the other. It can come now or later due to unemployment or shades of in between. End result a level playing field and economic views change to suite as they always do. The countries where it will have least effect are the ones that managed to clamp it down / let it run out relatively quickly. The excuse here is that these countries are more dictatorial. S,Korea for instance passed a few laws. Curious that we passed one anyway.
The bank bailout was the 2nd one. The last one was done via higher interest rates. Personally I favour that because it reduces property prices and I don't give two hoots as it hurts far fewer people than just continuously finding ways of maintaining them. Unfortunately it's not that simple - house prices for instance go down but mortgage costs go up but savings become attractive and that helps the economy. Currently they are continuously devalued year by year so debt becomes more attractive.
This is something I don’t understand. If ALL countries are going to finish up in debt, who are they going to be in debt to?
Did 'we'? Define 'we' and give examples please.
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I think the interesting issue here is the difference between the EU Banks and the EU collective of countries of course both operating under the covers in very different ways. As is already a contentious issue the 'well behaved' cleaner countries like Germany having to bail out the likes of Italy etc, this is where i think a level playing field becomes unwelcome if it's pulling the level down from the high achievers.
The only way the EU has fallen down is having the sort of problem Greece had. All countries you might say live beyond their means but they went a step too far. France has a vaguely related problem hence the Paris riots due to many not being able to afford to live there any more.
In some respects, poverty, London isn't much different for some and other areas of the country. Can't increase state aid as thing stand to fix it. Normal retirement ages etc go up all over the place to try and cope. Create a state aid designed to make people work - fine if there are enough real jobs around. Shopping centres create loads of them - who pays the wages - the people who buy there even the ones that work there. Are those real jobs?There are Germans who feel they should be out as they carry the EU. There are others that think it causes all of the "problems"
be interesting to know what people think they are. Were the EU is confusing is contributions and those that get more back than they put in or more back than others. It's spent on infrastructure. That eventually increases living standards that means that the people can buy more. They have more jobs so some return to where they came from. End effect is a larger market for all things so exports to them can increase. LOL It works to some extent as well. Like most thing it isn't perfect and changes aren't immediate. I've driven on several roads funded by the EU, mostly in Wales. I know some one who has money from once running a building firm, now in a job that paid less than I received. He bought a chunk of land on the west coast of Ireland due to the construction of new road. He was surprised that this was entirely funded by the EU. Probably a good investment as the road is intended to open the area up. So land prices will increase. The fact that he didn't know where the money came from and why just about sums it all up.Rather than training people import them as it's cheaper than training. Also allow cheaper more tractable labour to come into the country. This is what started immigration in the first place but more of a get people who would do certain jobs when better were around.
The other problem it has is nationalism as seen with the CV19 responses. Also politicians seeking power that way these days. The only answer to that is an EU Senate of some sort hopefully not styled on the USA. The EU parliament just goes. When we joined they mentioned an end game which meant closer political ties. The politicians at the time weren't sure about that. Hardly surprising because it would be devolving power which they want all to themselves
Me I thought not a bad idea as what we had clearly didn't work any more.We didn't go into the Euro for the simple reason that we couldn't keep the value of the GBP at the value range it needed to be. What govs had to do is buy if it falls too much. The money market had been attacking the GBP this way for ages so a better than average time to do it. Ireland and others managed.
When Blair suggested we join it two things may have happened. Brown might have decided that the GBP values was too high or they may have said no way for similar reasons. It was in a period when people looked forward to their cheap holidays in Europe each year. Not so cheap any more. Instead we seem to have gone in the direction of depressing labour costs.
The other problem is different languages.
Esperanto didn't take off. LOL a sensible choice would have been English as more and more speak it but wouldn't go down well in just about any country. I mean even the Welsh and others want to speak their own.
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We have similar problems in the UK between the different countries and even the US can't make a single currency work between states without relying on local tax autonomy to balance it out. When you are in a monetary union with neighbours with different economic strengths you are going to find it hard to react quickly without consensus. The bigger the group the longer it takes as everyone wants more out than they put in.
D
durhamplumber
For the long term good Jonnyboy....PS....It has been a whole 5minutes since you called us Xenophobes..You are slipping.
In the event of China not buying sovereign debt, which seems unlikely in the current circumstances. you effectively lend money to yourself.
Sounds good - I’ll have to try that with myself!
lets see you point out where those posts contain anything that can be interpreted as 'defence of the Eurozone'And like two knights on white chargers, they rushed to the defence of the Eurozone. They don’t like it up 'em do they? Well, maybe one of them does.
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