Eurozone will collapse...

[denphone]

Originally Posted by Alan Fry

We are now a step closer to a United States of Europe!

When (and how) will it happen, well we will wait and see!

You obviously had another vivid dream last night and perhaps you will have another one tonight.

[Alan Fry]

Originally Posted by denphone

You obviously had another vivid dream last night and perhaps you will have another one tonight.

But this deal means that the financial affairs of the Eurozone states are now run by the EU (i.e. Germany)

Alan, re your signature

Remember, Next time there is an election, vote the Green Party and maybe Trade Unionist and Socialist Coalition

you do realise it is illegal to vote more than once in an election?

[denphone]

He must have a alter ego.

[Derek]

Originally Posted by Hugh

Alan, re your signatureyou do realise it is illegal to vote more than once in an election?

Unless you are of a certain background in a marginal labour seat in which case you can happily create up to 50 people per one bedroom flat to give postal votes to, errr allegedly.

[Alan Fry]

Originally Posted by Hugh

Alan, re your signatureyou do realise it is illegal to vote more than once in an election?

I meant it is a good idea to vote for one of those parties depending in the election

You may wish to substitute "or" for "and", then.....

[Sirius]

Originally Posted by Hugh

You may wish to substitute "or" for "and", then.....

Would he understand what you have just posted

[Sirius]

Originally Posted by heero_yuy

Only if you substitute "!" for "."

[Osem]

Spain's jobless level hits record 4.75 million

http://www.bbc.co.uk/news/business-17594684

The number of Spanish jobseekers rose for the eighth month in a row in March to hit a record 4.75 million.

The Labour Ministry said the number of people filing for unemployment benefits rose by 38,769 with the services sector seeing the most jobs lost.

The jobless rate in Spain stood at 23.6% in February, according to EU figures released on Monday.

The situation is even worse for young Spaniards as youth unemployment is running at 50%.

These are eyewatering numbers.

[ntluser]

Originally Posted by Osem

http://www.bbc.co.uk/news/business-17594684



These are eyewatering numbers.

Wonder if Spain is using the same UK employment companies as those scandalously highlighted in Panorama's Apprenticeship scandal programme?

Truth be told the only government that seems to be getting unemployment figures down is the United States.

Our government has no idea what to do so they engage these ripoff companies to do the job for them.

[Osem]

The cost of borrowing for Spain has jumped above 6%, raising again the prospect of a bailout.

The yield on Spain's 10-year bonds reached 6.1%, ahead of auctions of debt on Tuesday and Thursday that could be increasingly expensive for Spain.

Investors have been worried by data showing Spain's banks are entirely dependent on emergency ECB loans....

....The yield suggests that if Spain wanted to borrow for 10 years today, it would pay more than 6%.

In comparison, the yield on 10-year bonds from Germany, the eurozone's strongest economy, is 1.73%.

http://www.bbc.co.uk/news/business-17725771

How long can this go on I wonder.

[ntluser]

Originally Posted by Osem

The cost of borrowing for Spain has jumped above 6%, raising again the prospect of a bailout.

The yield on Spain's 10-year bonds reached 6.1%, ahead of auctions of debt on Tuesday and Thursday that could be increasingly expensive for Spain.

Investors have been worried by data showing Spain's banks are entirely dependent on emergency ECB loans....

....The yield suggests that if Spain wanted to borrow for 10 years today, it would pay more than 6%.

In comparison, the yield on 10-year bonds from Germany, the eurozone's strongest economy, is 1.73%.

http://www.bbc.co.uk/news/business-17725771

How long can this go on I wonder.

Just shows, Osem, that the EU has not solved the Euro problem; they have merely delayed it.No doubt, we will revisit the Euro crisis situation again in the not so distant future.

Governments really need to get their costs down and that won't happen as long as the leaders hang onto their large salaries while everybody else suffers.

The EU is far too expensive to run and the money could be better spent developing the national infrastructures and getting people back to work.

Unfortunately, our leaders don't know how to do that, but they still want a big salary for failing.

FYI, the yield from UK Government 10 year bonds is just above 2%.

[Ignitionnet]

Originally Posted by Hugh

FYI, the yield from UK Government 10 year bonds is just above 2%.

Of course what it would be if the BoE hadn't bought the bulk of the issue with created money is a different story.

Since 2008 the government has borrowed over 500bln, the BoE have bought over 60% of it. The government is borrowing from itself, that and that we have our own currency are the only reason the bond yields are low, on the basic economics they should be through the roof given 47% of GDP goes on public spending, more than Sweden or Norway, whlie we only raise about 37% of GDP from taxation.

We may have a higher budget deficit than Portugal, Italy, Greece, Spain or Ireland for this year. I struggle to see what we're doing to earn such a low yield beyond it indicating the desperation of the money markets. That S+P had the nerve to affirm the UK's AAA rating giving Osborne isn't only going to miss his own deficit targets but Alistair Darling's is farcical.