22bn bill to save the Euro

[anotheoldgit]

http://www.express.co...bill-to-save-the-euro

Yet another several billion pounds set to be given away.

Isn't it time we got out of Europe, or at least got rid of our government's lavish give-a-ways to everyone but our own deserving peoples?

[Zeuhl]

It's not

<a give away> it's a loan.

It's not <lavish> it's business - it might be bad business - but it's still business.

[Sqad]

Zeuhl......LOL

[Old_Geezer]

Looks to me as if it is a loan to the IMF rather than directly to Euroland.

Surely it will be to help bail out a country in trouble, which is what the IMF is for, rather than bailing out the Euro itself.

Besides why would a financial institution want to prop up a failed system ? It'd be like chucking good money after bad.

The sooner we get to the stage where there are separate Andorran Euro, Austrian Euro, Belgium Euro, Cypriot Euro, ..... etc. the better.

[rov1100]

Personally I think we would have been better in the Euro. Then we could receive the rewards dished out to countries whose economies have failed.

[R1Geezer]

from who rov?

[bazwillrun]

Greece never had these problems until it joined the euro

get out of the EU now whilst we still can, keep our currency and make our own laws and tell brussels where thay can shove it

[Zeuhl]

and what happens to the exports that go into europe?

and the firms that are only based here because it gives them access to european markets?

and the jobs with those firms?

[Old_Geezer]

No one suggests not trading with Europe, simply not capitulating to the Union.
Too much is made of possible losses, when we see others do well enough outside.

[Zeuhl]

True.

we would need to renegotiate - and there's no guarantee we would get a settlement that served our purposes.

[Gromit]

Zeuhl, Old Geezer.

You do know that facts are just diversionary tactics, don't you?

[Brenden]

I think th EU needs our money more than we need them It is just not Greece in trouble there is Ireland, Spain, Portugal they seem to be going down like domino@s.

[BayBoy1]

who says Spain is in trouble ''Maybe.. Ireland is in trouble and so is Portugal ,It was only Germany casting doubts about the Spanish cucumbers etc and e-coli that caused problems.Germany and UK should put their own house in order first.

[New Judge]

Spain is almost without doubt the next of the “PIIGS” to require assistance, BayBoy. Don’t take my word for it, just wait and see.

What on earth makes you think, Zeuhl, that our trade with Eu members states would suffer significantly if we left the EU? Many countries who are not members of the EU trade with members and do so perfectly well. A number of non-member European nations (Liechtenstein, Iceland, Norway, and Switzerland) manage perfectly well by simply being members of the European Free Trade Association.

The EU is a costly, undemocratic, cumbersome and corrupt organisation which is highly manipulated by its senior politicians for their own personal advantage and idealistic ends. It shows little or no regard for the wishes or welfare of the citizens of the member states. The idea of a trading association which aims to facilitate trade by removing barriers is fine. The idea of the EU is not.

[Brenden]

I could not be asked to respond to bayboy after e-coli was given as the problem. I agree New Judge there are non-european countries trading very nicely with the EU, after all our treaty originally was for trade only.

[emmie]

Greece has had numerous problems with its tax system for years, many people do not pay taxes, or find methods of avoidance, this info was not from some news report, but from a Greek businessman friend, who explained how it works. Just because Greece joined the Euro, it wasn't the start of their problems. Large scale corruption and a country that relies heavily on tourism, all have added to the reasons they are in trouble. Britain isn't in the Euro, and i am glad, every country i have visited in Europe, over the years, when speaking with the locals, no one wanted it, no one asked for it, and most agreed that the cost of living shot through the roof on its adoption.

[DrFilth]

make the workers pay more tax, close a few more schools , shut down a few more hospital wards


david will find them the money

[emmie]

joining the EEC was for trade, not so every border, every door would be open, nor for Brussels to determine how we live our lives, that is supposed to be the people we elect into office.

[Sqad]

<<<<<22bn Bill To Save The Euro>>>>

I don't understand the heading, but i am not an economist.

The Euro is STRONG against the pound ( or the £ is weak against the Euro)

We are NOT saving the Euro, but supporting countries with weak economies and with whom we trade.....they fall and we fall.

Before we get excited about baling other countries, let us look at the UK.

The economic black hole of debt in the UK is exactly the same at that of Greece, the only difference is that the UK pays 4% interest for the loans and Greece pays 14% ( I think those figures are correct) and this is due to the fact that the UK is dealing with the problem of debt and hence gets good rates of interest for borrowing.

This has NOTHING to do with the Euro, but is a fact of management of the economy in respect to debt repayment.

Now, if the Unions get their way and debt repayment in the UK is seen to be compromised......then add another country to Ireland, Greece, Portugal, Spain and that other country is.........the UK.

[Brenden]

Looks like France and Germany will be the last two standing.

[New Judge]

The Greek issue has everything to do with the Euro, Sqad.

Whilst Greece’s membership of the Euro was not the cause of its problems, its membership most certainly is the cause of it being unable to deal with them effectively. They cannot float their currency (as the UK does), they cannot inflate it by printing more (as the UK does) and they cannot control their domestic interest rates (as the UK does). These are the three principle tools of dealing with a national deficit.

Saving the Greek economy is almost certainly seen as saving the Euro because, if the Greeks go down the Kharzi it will almost certainly see the end of the Euro in its current form. This would demonstrate, as many observers suggested, that the project was fundamentally flawed from the outset. The vanity of the Euro's political supporters and their refusal to accept they were wrong means they will go to great lengths to prevent this. Meantime huge damage to the economies of member states (especially the smaller ones) will be caused before the markets finally force the inevitable.