Eurozone will collapse...

[Osem]

An extra 7.3bn euros (£6.2bn; $9.5bn) is due to be added to the EU's budget for 2013 under a compromise reached between member states in Brussels.

The European Council agreed the figure after the UK objected to the European Commission's original request for 11.2bn euros to settle unpaid bills.

http://www.bbc.co.uk/news/world-europe-22527437

Not keen on austerity then...

[Sirius]

Originally Posted by Osem

http://www.bbc.co.uk/news/world-europe-22527437

Not keen on austerity then...

They dont like being told NO, so why tell us NO all the time.

[Osem]

The French economy has entered recession after shrinking by 0.2% in the first quarter of the year.

France's economy shrank by the same amount in the last quarter of 2012. A recession is defined as two consecutive quarters of negative growth.

France has record unemployment and low business and consumer confidence.

http://www.bbc.co.uk/news/business-22536197

There is some good news though:

http://www.bbc.co.uk/news/business-22533108

Ratings agency Fitch upgraded Greece's credit rating, citing progress in cutting its budget deficit and the risk of a eurozone exit receding.

Fitch up-rated Greece by one notch from CCC to B-, which is still junk status.

Zut alors! C'est un recession de triple-dip!

There you go folks. Elect a socialist, abandon austerity, enact wealth taxes ... And reap the whirlwind.

Hollande is an idiot. So is Ed Balls.

[Osem]

How long before the French start burning BMWs?

So that will mean french strikes ,less production ,less money earned ,etc,etc.Wouldn't want to be a frog now

[Osem]

Eurozone recession enters sixth quarter:

The bloc's economy shrank by 0.2% between January and March, according to official figures.

That left the region's economy 1% smaller for the period compared with a year ago.

Individual data for member countries showed nine were in recession, although Germany recorded weak growth of 0.1% in the period.

The figure marks the longest recession since the euro was launched in 1999.

http://www.bbc.co.uk/news/business-22536201

[Sirius]

Hang on, I was under the impression that the EU were in full control and all was peachy in Euro land

Never forget that there are people in this country who want us to sigh up in full to that failed economy and hand over all control of our economy.

[Osem]

Originally Posted by Sirius

Hang on, I was under the impression that the EU were in full control and all was peachy in Euro land

Never forget that there are people in this country who want us to sigh up in full to that failed economy and hand over all control of our economy.

Yeah and most have them seem to have gone very quiet don't they. I wonder why...

Originally Posted by Osem

How long before the French start burning BMWs?

Apparently they already do. And Citroens, Peugeots, VWs and anything else they can set a match to. It seems to be the preferred means of registering political discontent among France's youth:

Car burnings rise as France threatens to take euro crisis to 'higher plane' , says hedge fund boss Michael Hintze

“Figures released by the French Minister of the Interior recorded 1193 cars having been burned over a two-day period on New Year’s Eve and New Year’s Day, with the annual number somewhere around 42,000 to 60,000.”

[Osem]

Interesting. Let's hope they confine their efforts to cars and it doesn't become something more sinister and serious. I think a lot of pro European commentators have deluded themselves about the notion of peace in Europe. IMHO the main reason there's been peace has been the relative prosperity which has been enjoyed for various reasons not that the usual tensions and mistrust between nations have been forgotten. So it'll be interesting to see whether it endures the very tough times which still lie ahead or whether simmering resentment will fuel more social unrest, nationalism and what goes with it.

[thenry]

Pirate Bay co-founder Peter Sunde to run for EU parliament

http://www.pcworld.com/article/20387...arliament.html

[Osem]

Germany's economy barely grew in the first quarter of 2013 as exports and investment shrank, figures show.

But higher domestic consumption - thanks to rising wages - helped offset the declines in foreign trade and capital investment, raising hopes it will help drive a sustained recovery.

Gross domestic product rose 0.1% from the previous quarter, but contracted 1.4% compared with a year earlier.

The figure showed the economy narrowly avoided falling into a recession.

http://www.bbc.co.uk/news/business-22651193

[Osem]

Latvia will become the 18th country to use the euro after being approved for membership by the European Commission.

In a report, the Commission confirmed that the Baltic state had met the criteria for joining the single currency.

http://www.bbc.co.uk/news/business-22781146

"In much of Eastern Europe there's widespread enthusiasm - certainly among policy makers - for joining the single currency," he noted.

"However, polls suggest that many in the country are worried the switch could drive prices higher."

Anti-euro parties won more than half of the vote in elections in the capital, Riga, last weekend.

That'd be right...

---------- Post added at 13:25 ---------- Previous post was at 13:18 ----------

Meantime:

The gap between France and its European neighbours will widen unless the country introduces fresh economic reforms, the International Monetary Fund (IMF) has warned.

The IMF called on France to lower its labour costs and halt tax hikes to boost both growth and its competitiveness.

http://www.bbc.co.uk/news/business-22771881

Zut alors!

http://www.telegraph.co.uk/finance/e...-Hollande.html

The eurozone crisis is over, French president Francois Hollande said as he sought to reassure Asian investors on a visit to Japan.

Oh, well that's OK then.