so it looks like Greece will get another multi billion

[emmie]

pound, euro bailout. The eurocrats are sitting round a table to thrash out a deal, what are your opinions on this.

[sandyRoe]

I think it's good that they have friends they can borrow from in their time of need.

[emmie]

for the second time you mean, when they are as bad as it gets in managing their own affairs. What if its still not enough, and they need more, and who's next.

[sandyRoe]

The Germans have deep pockets . They can afford it.

[anotheoldgit]

The Euros a failure and the EU is a 'mill stone' round our neck.

We at least turned down the Euro, now is the time for a referendum, to get us out of Europe.

[emmie]

do we not pay as well, thats funny, i know we opted out of the euro zone, but owing to a certain New Labour agreement, don't we still have to cough up. The only people doing well so far are Germany and France.

[Brenden]

I reiterate what I said on another thread, they will be the last two standing.

[emmie]

After all it's only money, that we haven't got.

[Sqad]

If Greece goes, then the Euro goes with it and too many financial institutions, banks and Government loans go with them..................

AOG <<<The Euros a failure and the EU is a 'mill stone' round our neck. >>>

Before we pat ourselves on the back, our financial debt black hole is EXACTLY the same amount as the Greeks..........and we have the summer of discontent to contend with as yet.

We may need the EU's money ..............perhaps.

[bednobs]

"now is the time for a referendum, to get us out of Europe"
perhaps we could get a fleet of tugs to tow us to South America?

[jno]

nothing to do with eurocrats.

[barney15c]

Something to ponder on....when Greece joined the EU, they blatently lied about certain aspects of their financial positon. The chickens have come to roost now as Greece is as good as bankrupt, but it seems Greece's dishonesty seems to have been overlooked and more money is being poured into their economy with little chance of it ever being repaid. And yes the UK will probably have to foot a large part of this. If there was ever a case to get out of the EU this is it.

[emmie]

if we need the EU's money, then heaven help us, Euro was never a good idea, when we joined the EEC, it was primarily for trade, however did our politicians get us into this mess. As i posted before, the dishonesty of many, not just the politicians, how they do everything in their power to avoid paying tax, and then joining the Euro was a big mistake.

[emmie]

The Government has insisted it will not be taking part in a second bail-out of Greece being discussed by Eurozone finance ministers. Chancellor George Osborne will this week insist that a second aid package for the beleaguered country should not involve the UK. And today Chief Secretary to the Treasury Danny Alexander also stressed that Britain was not expecting to contribute, well that's all right then.......
Finance chiefs for the Eurozone countries are expected to agree the latest instalment for Greece at a summit in Luxembourg tonight.

[Sqad]

em10

<<<<if we need the EU's money, then heaven help us,>>>

Let's hope that your words will not come home to roost after the clash between the Unions and the Coalition......... although i agree, at the moment the UK looks on safe, but not solid, ground.

[jno]

the Germans are starting to wonder why they should pay the Greeks so Greeks can have longer holidays thnt Germans do, and without the bother of paying taxes. Can't say I blame the Germans.

[emmie]

sqad indeed. We need to trade, what country doesn't, no question, but we don't need to belong to some Euro superstate to do it.

[emmie]

jno, we agree, this was all about Germany and France, and can't see that unholy alliance lasting that much longer if this goes on. Its interesting to talk with someone who knows the country and its methods of tax avoidance, and just how crooked many of the politicians are, a greek national in case you wondered.

[LazyGun]

Regardless of whether we are in the euro or not, regardless of the fundamental reasons why Greece is in such a poor financial state - The UKs own financial self-interest dictates that we should be involved in some sort of rewriting of Greek Debt.

For those people who are not fans of the EU and the whole european project, the looming spectre of a failure of the euro, with nations leaving, defaulting on billion euro debts etc might seem to be a good thing for the UK and sterling, and a vindication of their view that the EU project was too ambitious, too intrusive, too federalist.

The problem is this - UK banks have around £6.5 trillion invested in loans, with only £300 billion in security and cash reserves. Around £1 trillion of this is in euros, to various governments, companies and banks all across europe. Thats pretty much equivalent to the UKs entire GDP for a year. Should the Greeks be forced to withdraw from the euro and default, this could very likely cause similar defaults and a collapse of the euro.

We still havent received back the £2billion from Iceland as yet - It would be catastrophic to the UK were those loans defaulted on.

All financial systems are interconnected, and it probably is in our own national self interest to ensure that we participate in ensuring that the euro project does not collapse.

[emmie]

i know, and didn't Iceland say that they had no intention of paying back this money, its worse than sticking a pin in the horse racing card blindfolded.