Eu In Trouble.

[webbo3]

https://www.express.co.uk/news/world/1837335/eu-budget-france-germany

[Togo]

Like all ponzi schemes someone always breaks the chain and the thing collapses through lack of momentum(a suckers money). We very wisely broke the chain. 

[Hopkirk]

They really miss our money.

[Togo]

On top of this in 2024 the EUSSR debt payments are set to double after interest rate rises. The debt was due to a massive overspend to fight the phantom covid, the war in Ukraine and aid for the new and exciting permanent visitors to the bloc. Strange that. According to the eeyoo maniacs who post here the UK did not, and still does not, have any of those issues to hinder our economic freedom. 

[ToraToraTora]

Stop it! you'll have hymie suicidal!

[Old_Geezer]

Confusing. I though the argument was that the UK only had a rough time when a member because it was the only one that kept to the rules, when every other member did what they wanted. In which case the article seems to be about 'business as usual' and therefore not newsworthy.

[Togo]

That was because we were the only ones who got sanctioned Geezer. Now we are gone they are back to fighting each other like rats in a sack   ...   just like they always did. 

[Hymie]

Hymie’s not worried at all.

These rules (deficit limit at 3% of GDP) have been in place since the inception of the common currency (Euro), to stop countries massively overspending to the detriment of the others.  I recall in the early days of the Euro, Germany breaking these rules but no one complaining.  But look what happened to Greece as a result of hiding their overspending.
 

If the majority of Euro zone countries were to overspend, the main effect would be a reduction in the value of the Euro – something the EU wants to avoid.
 

Of course should we re-join the EU and adopt the Euro, we would be bound by these rules; but remember a condition of Poland joining the EU back in 2004 was that they adopt the Euro – some 20 years on and Poland is showing no signs of adopting the Euro.  Not only is there the lack of willingness to join, but there are also convergence criteria that must be met.

[jourdain2]

Somehow, Hymie, I hve the feeling that we wouldn't be allowed the latitude granted to others.

[Hymie]

Given that when we re-join, we will be a net contributor to the EU, we can use this as a bargaining tool.

[Togo]

//we can use this as a bargaining tool.//

 

Err "call me dave" tried that and they told him(us) to do one! That is why he was forced to honour the Brexit promise after darling Nigel had trapped him into promising one if they did not recognise those very facts. I call that a result.