Crosswords0 min ago
Euro Zone....
It is estimated that within 2 years the Euro will collapse, precipitated by Greece and possibly Portugal, Ireland and even Spain. Can it's collapse be avoided? Will all the Euro Zone countries just resurrect their former currencies?
Answers
Best Answer
No best answer has yet been selected by R1Geezer. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.
Greece should never have been in it; I don't think leaving wouldn't bring the currency down. In theory, you're stronger when your weakest link is thrown away. But others argue that investors would then start picking off one country at a time. My guess is the former, but nobody knows.
They might care to stop and think twice before letting the Cap Verde islands in, though.
They might care to stop and think twice before letting the Cap Verde islands in, though.
I did put this on here before, and got shot down for daring to suggest such a thing. If greece defaults on its loans then this would have a devastating affect around the world, that was the response, looks like Cameron is sticking so far to his guns over no more money from Britain for 2nd bailout. What made the powers that be believe introducing a common currency a good thing in the first place, Don't all answer at once, nor shout, its early..
// looks like Cameron is sticking so far to his guns over no more money from Britain for 2nd bailout. //
No it doesn't. If you look beyond the headlines, Cameron has agreed to give the IMF a load more money, and the IMF will use it to bailout Greece. I don't normally quote the leader of UKiP, but he is correct when he says...
// Earlier UK Independence Party leader Nigel Farage said the UK was in effect contributing to another bail-out because of its IMF involvement.
"David Cameron is being totally disingenuous when he says UK will not contribute to Greek bail-out: the UK has already contributed 1.2 billion euro (£1 billion) in the first Greek bail-out (via the IMF) and has agreed to double its contribution to the IMF by giving an extra £9.2 billion," he said. //
http://www.telegraph....l-out-for-Greece.html
No it doesn't. If you look beyond the headlines, Cameron has agreed to give the IMF a load more money, and the IMF will use it to bailout Greece. I don't normally quote the leader of UKiP, but he is correct when he says...
// Earlier UK Independence Party leader Nigel Farage said the UK was in effect contributing to another bail-out because of its IMF involvement.
"David Cameron is being totally disingenuous when he says UK will not contribute to Greek bail-out: the UK has already contributed 1.2 billion euro (£1 billion) in the first Greek bail-out (via the IMF) and has agreed to double its contribution to the IMF by giving an extra £9.2 billion," he said. //
http://www.telegraph....l-out-for-Greece.html
"What made the powers that be believe introducing a common currency a good thing in the first place, "
Well, just one example from my own experience:
Back in the late 70s - early 80s when I first got into computers, there was a thriving UK software industry. Of course, all software houses produced stuff for the local market first and then tried to expand into the rest of the world.
The local market for UK companies was tiny compared to that of the USA, which meant that a US startup had room for enormous expansion before it ever need to worry about localisation (foreign languages, currencies, measurement systems, etc., etc.). Consequently, any UK company that wanted to compete on the world stage found itself going head to head with competitors with 5, 10, 20 times the resources.
Now think about all the software that you use regularly. How much of it comes from European companies, and how much from the US?
Well, just one example from my own experience:
Back in the late 70s - early 80s when I first got into computers, there was a thriving UK software industry. Of course, all software houses produced stuff for the local market first and then tried to expand into the rest of the world.
The local market for UK companies was tiny compared to that of the USA, which meant that a US startup had room for enormous expansion before it ever need to worry about localisation (foreign languages, currencies, measurement systems, etc., etc.). Consequently, any UK company that wanted to compete on the world stage found itself going head to head with competitors with 5, 10, 20 times the resources.
Now think about all the software that you use regularly. How much of it comes from European companies, and how much from the US?
// What made the powers that be believe introducing a common currency a good thing in the first place? //
Seems to work in the United States. Imagine that Texas had a different currency than Cafifornia, people would think that was madness. Yet in Europe you had 30 states each using its own currency. It was a step too far Politically) for Thatcher who opted out of the Euro at Maastrict, and successive UK Governments have said we will wait and see.
Seems to work in the United States. Imagine that Texas had a different currency than Cafifornia, people would think that was madness. Yet in Europe you had 30 states each using its own currency. It was a step too far Politically) for Thatcher who opted out of the Euro at Maastrict, and successive UK Governments have said we will wait and see.
But how many European countries trust each other enough to rely on them to look after their best interests?
And then their is the diversity of each country’s voters. Many have long memories of past injustices (real and imagined)
Even a simple majority vote is a real challenge.
Of course that is only my opinion, but I am old enough and have experience enough of the world to understand quite a bit about "The Human Animal" and its contradictions.
Old Salt
And then their is the diversity of each country’s voters. Many have long memories of past injustices (real and imagined)
Even a simple majority vote is a real challenge.
Of course that is only my opinion, but I am old enough and have experience enough of the world to understand quite a bit about "The Human Animal" and its contradictions.
Old Salt
When Greece joined the EU they were paid billions in subsidies for their vineyards, two thirds of which didn't even exist. It was several years later that aerial surveys showed up the racket. Farmers all over Europe are paid not to produce or are paid for produce which nobody wants and nobody checks to see the validity of their claims. In fact many don't have to even make a claim . The PIGS were quick to exploit this pot of gold .
USA have a common currency! Perlease Gromit, that's obtuse even for you. So we are a united states of Europe are we? Right oh, still at least it's an admission, you and you treacherous Europhiles are always telling us that we are not a federalised super state!
The EU is an anti British Club the sooner we revert to the Common Market the better.
The EU is an anti British Club the sooner we revert to the Common Market the better.
gromit // . // We had the same problems before the Euro. If you paid French farmers in Francs would the problem be solved? The currency and the policy are different roblems.//
They are not different problems they are too closely linked . They are both linked through the EU . The EURO has compounded the probems .
They are not different problems they are too closely linked . They are both linked through the EU . The EURO has compounded the probems .
Latest Posts
Quizzes & Puzzles3 mins ago
Crosswords9 mins ago
Family & Relationships13 mins ago
Body & Soul14 mins ago
Music15 mins ago
