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Growing financial crisis in Europe???

Growing financial crisis in Europe???

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Old Feb 9th 2010, 4:19 pm
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Default Re: Growing financial crisis in Europe???

Originally Posted by slapphead_otool
Better to foot the bill than see the Euro slide off the edge of the scales and fall into the basket case currency pool.
It's the right thing to do but obviously Germany needs to make them beg a little first.
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Old Feb 9th 2010, 4:21 pm
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Default Re: Growing financial crisis in Europe???

I read an article which pointed out that a large proportion of the Greek economy is black, and therefore, untaxed.

I wonder how the Germans will feel about having to bail out a country when the Greek government isn't so good at collecting taxes?
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Old Feb 9th 2010, 4:22 pm
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Default Re: Growing financial crisis in Europe???

Originally Posted by mohogony
How will the standard of living in China and the new ecomonies improve if the west gets poorer becasue then people in the west don't have the money to purchase Chinas manufactured goods.
China can start buying Chinese goods.
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Old Feb 17th 2010, 12:25 am
  #34  
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Default Re: Growing financial crisis in Europe???

WOW – seems the EU is really angry now:

http://www.telegraph.co.uk/finance/f...vereignty.html

“The council of EU finance ministers said Athens must comply with austerity demands by March 16 or lose control over its own tax and spend policies altogether. It if fails to do so, the EU will itself impose cuts under the draconian Article 126.9 of the Lisbon Treaty in what would amount to economic suzerainty”.

The Greeks are REALLY going to be piddled off with that. They are already protesting and rioting on a daily basis. The chances of George Papandreou tightening the collective belts is zero, meaning the EU will step in and increase taxes and decrease spending itself.

That sounds like Hitler slipping over the border to Poland to me......
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Old Feb 17th 2010, 7:40 am
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Default Re: Growing financial crisis in Europe???

Originally Posted by slapphead_otool
WOW – seems the EU is really angry now:

http://www.telegraph.co.uk/finance/f...vereignty.html

“The council of EU finance ministers said Athens must comply with austerity demands by March 16 or lose control over its own tax and spend policies altogether. It if fails to do so, the EU will itself impose cuts under the draconian Article 126.9 of the Lisbon Treaty in what would amount to economic suzerainty”.

The Greeks are REALLY going to be piddled off with that. They are already protesting and rioting on a daily basis. The chances of George Papandreou tightening the collective belts is zero, meaning the EU will step in and increase taxes and decrease spending itself.

That sounds like Hitler slipping over the border to Poland to me......
Not really. You might have missed it but last December the EU became a federal super state. It's more like Canberra forcing Tassie to clean up its act. (Except that the EU government has more power to interfere in the states than Canberra does.)

Also, I think you may have fallen foul of Godwin's law.

From the article: "Greece may yet surprise critics by mustering its Spartan Spirit". Does that mean they're all going to get naked and smear themselves with oil to get out of financial difficulties. Maybe it is just like Poleland.

Last edited by MartinLuther; Feb 17th 2010 at 7:46 am.
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Old Feb 17th 2010, 9:08 am
  #36  
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Default Re: Growing financial crisis in Europe???

Originally Posted by MartinLuther
Also, I think you may have fallen foul of Godwin's law.
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Old Feb 17th 2010, 10:58 am
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Default Re: Growing financial crisis in Europe???

Originally Posted by MartinLuther

Also, I think you may have fallen foul of Godwin's law.
2Am, Wolfs Lair, deep in Germany:

Ring Ring, ring ring, ring ring

Hilter: Hello, Wolfs Lair 90210

Mussolini: Adolph, is that you?

Hitler: Hi Musso mate, hows it hanging?

Mussolini: Adolph, things aren’t going well in Greece

Hitler: yaaa yaaa yaaa, go burn a few villages. That’s what I do.

Mussolini: No Adolph, they borrowed shedloads of cash, now they say they are broke. They refuse to chip in for the beers.

Hitler: So bomb a few cities. The Luftwaffe Debt Collection Team always gets results – apart from those bloody British.

Mussolini: Adolph, our collective credibility is on the line here mate. The world thinks we are a bunch of European peasants with big mouths and small wallets.

Hitler: So what you want from me?

Mussolini: Well Adolph, if you could lend Greece a bit of cash, things might be ok.

Hitler: Ohhh Yaaaaa, then its Spain who cant afford the rent, and Portugal that’s behind with the payments on the TV. Bloody hell, next thing you will be telling me your pockets are empty.

Mussolini: Well now you mention it Adolph, things are a bit tight. I could do with a sub myself.

Hitler: I wish I never got into bed with you bunch of ragged ass locals. Whats in it for me?

Mussolini: Well Adolph, everyone will owe you money, and you will have control of all of Europe.

Hitler: Ok, Ok, I will get Herr Merkel to write a cheque. But I want all Europe kissing my ass!

Mussolini: Ok, ok, both cheeks and one up your Ruhr Valley. Just don’t go invading Russia when this is over. Remember last time…

Hitler: Ohhh yaaaaaa.

Click.

Last edited by slapphead_otool; Feb 17th 2010 at 11:11 am.
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Old Feb 17th 2010, 11:08 am
  #38  
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Default Re: Growing financial crisis in Europe???

Hitler's Diary (as bought by the Times)

1st September 1939

Read the papers. Had a good talk with Mussolini. Must remember to get some milk and invade Poland.
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Old Feb 18th 2010, 1:08 am
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Default Re: Growing financial crisis in Europe???

More bad news from the UK
http://news.bbc.co.uk/2/hi/business/8521587.stm
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Old Feb 18th 2010, 11:35 am
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Default Re: Growing financial crisis in Europe???

Originally Posted by rockpeblar
Stuffed.

Somewhere else on thsi site is a thread about how Britain will soon be Great again by positive thinking.

Its such a bloody joke that the proponents should be prosecuted for stupidity.
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Old Feb 18th 2010, 7:30 pm
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Default Re: Growing financial crisis in Europe???

It's so sad that some of you are so deluded and can't afford to choose where to live(think about that) that you run a place down that you profess to have no interest in returning to.
The uk provides many great oppertunities for some depending on your profession.

Keep taking the medication and enjoy the great southern utopia
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Old Feb 18th 2010, 7:55 pm
  #42  
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Default Re: Growing financial crisis in Europe???

Originally Posted by kevin747
It's so sad that some of you are so deluded and can't afford to choose where to live(think about that) that you run a place down that you profess to have no interest in returning to.
The uk provides many great oppertunities for some depending on your profession.

Keep taking the medication and enjoy the great southern utopia
What's the story behind the bitterness? I take it you returned to the UK?
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Old Feb 18th 2010, 7:58 pm
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Default Re: Growing financial crisis in Europe???

Originally Posted by slapphead_otool
Are many people here following the brewing financial crisis is Europe?

http://www.abc.net.au/news/stories/2...m?site=thedrum

It seems like we are in for another bumpy ride - and this time it is sovereign nations in trouble, rather than banks.

Most of the attention right now is on Greece, which has a net external liabilities of 87pc of GDP, or €208bn (£182bn).

But Spain is worse at 91pc (€950bn), and Portugal worse yet at 108pc (€177bn);

For some reason Britain seems lumped in – although it isn’t part of the Eurozone.

Anyone got any feelings on this?

I bet Gordon Brown would love to have Greek levels of external debt.

UK debt is 400% of GDP
Ireland debt is 1000% of GDP
http://www.cnbc.com/id/30308959/
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Old Feb 18th 2010, 8:01 pm
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Default Re: Growing financial crisis in Europe???

Steady on there Kev, the thread is about the current PIGS crisis – basically they are so deep in debt to GDP that they are dead men walking, being kept alive by their membership of the Eurozne.

This isn’t a knock Britain thread, it’s a serious look at the economic problems in Europe.

Today’s newspapers pointed out that Britains public borrowing last month was £4.3 billion – almost a 20 year high.

The shortfall in the British budget this year is heading to over £180 billion – higher than even the Chancellor’s forecast of a record £178 billion.

The Greek debt is 12.7% of GDP. Britain is heading for 12.8% of GDP.
Optimism wont fix that. The IMF will, and with the IMF will come stringent cutbacks.
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Old Feb 18th 2010, 10:12 pm
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Default Re: Growing financial crisis in Europe???

Originally Posted by slapphead_otool
Steady on there Kev, the thread is about the current PIGS crisis – basically they are so deep in debt to GDP that they are dead men walking, being kept alive by their membership of the Eurozne.

This isn’t a knock Britain thread, it’s a serious look at the economic problems in Europe.

Today’s newspapers pointed out that Britains public borrowing last month was £4.3 billion – almost a 20 year high.

The shortfall in the British budget this year is heading to over £180 billion – higher than even the Chancellor’s forecast of a record £178 billion.

The Greek debt is 12.7% of GDP. Britain is heading for 12.8% of GDP.
Optimism wont fix that. The IMF will, and with the IMF will come stringent cutbacks.
From everything I read about the UK it looks to be in really serious trouble, at least in the short to medium term. That is not something I want to jump up and down about and revel in. I'm fiercely patriotic and seeing my homeland struggle so badly is not something I enjoy for one second.
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