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-   -   Eurozone will collapse... (https://www.cableforum.uk/board/showthread.php?t=33678876)

Osem 16-11-2016 10:17
Re: Eurozone will collapse...
 
Just in case anyone was thinking that things are so much better over there:

Quote:
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.
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.

1andrew1 23-11-2016 23:14
Re: Eurozone will collapse...
 
Quote:
Originally Posted by Hugh (Post 35261471)
£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....
Looks like small change now compared to the independently-costed Brexit costs!

Osem 24-11-2016 10:08
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.

1andrew1 24-11-2016 10:18
Re: Eurozone will collapse...
 
Quote:
Originally Posted by Osem (Post 35871424)
Looks like even smaller change compared to the scale of the problems inherent within the European banking system which are simmering away quite nicely.
The Eurozone seems to defy gravity and carry on. The banks are a bit of an unknown.

heero_yuy 24-11-2016 16:09
Re: Eurozone will collapse...
 
Quote:
Originally Posted by 1andrew1 (Post 35871427)
The Eurozone seems to defy gravity and carry on.
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.

Osem 24-11-2016 18:30
Re: Eurozone will collapse...
 
Quote:
Originally Posted by 1andrew1 (Post 35871427)
The Eurozone seems to defy gravity and carry on. The banks are a bit of an unknown.
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.

Mick 24-11-2016 20:56
Re: Eurozone will collapse...
 
Quote:
Originally Posted by Osem (Post 35871495)
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.
:clap: 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.

Osem 15-12-2016 21:55
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.
http://www.bbc.co.uk/news/business-38336423

heero_yuy 16-12-2016 09:03
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.

Osem 16-12-2016 10:52
Re: Eurozone will collapse...
 
Yes and some folks still want us further shackled to this mess. How very weird... :spin:

OLD BOY 17-12-2016 11:37
Re: Eurozone will collapse...
 
Quote:
Originally Posted by Osem (Post 35875995)
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.

1andrew1 17-12-2016 11:45
Re: Eurozone will collapse...
 
Quote:
Originally Posted by Osem (Post 35261123)
http://www.bbc.co.uk/news/uk-politics-13839381

I seem to recall quite a few pronouncements Jack Straw made which didn't come to pass but is he right about this?
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.

OLD BOY 17-12-2016 12:17
Re: Eurozone will collapse...
 
Quote:
Originally Posted by 1andrew1 (Post 35876198)
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.
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.

1andrew1 17-12-2016 12:27
Re: Eurozone will collapse...
 
Quote:
Originally Posted by OLD BOY (Post 35876206)
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.
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.

Osem 17-12-2016 12:46
Re: Eurozone will collapse...
 
Quote:
Originally Posted by 1andrew1 (Post 35876210)
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.
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.


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