Unmutual

Well I'm pretty bewildered by this alleged "very successful financial sector".

Anybody got any links to this mythical entity?

Lionda

Have you checked each bulb? I've been trying to get an old desktop pc working, the monitor won't come on, flashed on then went off again changed fuses, plug sockets and now packed it all away in frustration. Time to put the kettle on methinks

EsuriJohn

Its not "a" competition but it is competition!

cricketman

The EU is a political union, the Euro is a monetry union

Cameron by being so arrogant and undiplomatic has isolated the UK politically at a time when countries need all the support and alliances they can get

Cameron could have got a good deal for the City by being diplomatic, negotiating, being friends with the European leaders and making some unimportant concessions at the last moment so that Sarkozy and Merkl could have gone back to their countries saying they have full support of their proposals.

Instead he stook 2 fingers up at them.

History shows that heavily indebted countries with little international support do one of two things - they go bankrupt and into poverty, or into civil war (or both). Best of luck!

agoreira

That's to be applauded, by why if Spain is in such good shape financially as you tell us, is their borrowing rate bouncing around 6.5%, whilst UK has been even below Germany. A month ago Britain’s government was able to borrow at the lowest rate since 1898. We hear lots of supposition about whether Spain will or won't need a rescue package, according to the man from S&P, the UK is "stable" at the moment, and in better shape than most of the EU countries. I'm not pretending that UK isn't in the mierda, but a lot would swap, they are in a lot deeper than us.

agoreira

It's that time of the year, I've just come down from the loft, getting the Christmas tree down. And a coffee and sandwich has just arrived!

EsuriJohn

We think we have a house price bubble in UK but nothing compares to the housing disaster in Spain apart from Ireland that is why they are both in the poo. Their economies apart from housing and a few billion of corruption were quite sound.

cricketman

Because the "market" is essentially an Anglo-Saxon entity so the dice are loaded to their favour

Spains debt is sold as high levels because the mainly US/UK traders think Spain = poor and useless. It is an emotional response rather than one based on the numbers. Basically it is racism or playground bullying...

On Spain and Europe's part. They were stupid to allow a free market system to be essentially only regulated by 3 of 4 US ratings agencies. Of course they will favour the UK/US model, it is what they know and who they respond to e.g. the boss of S&P got a huge dressing down by Obama when he degraded US debt. That he even talked to Obama at all shows that they are not independent and should not be taken seriously

Hence why the EU now is talking about self-regulating, so they are not at the mercy of the US.

EsuriJohn

That is a very profound and true statement.

Lionda

Got to make my own cuppa, hubby has man flu and glued to the settee, I even told him putting the kettle on would warm him up didn't work

JLFS

I agree.

That sounds the way things could possibly go, if anything was to change in the first place, Spain would not throw anyone out, but if certain priveledges are taken away, like health care for pensioners by the UK gov, and free prescriptions for pensioners stop, many will find it impossible to stay, due to the extra cost.

There might even be a restrictions as to what benfits can be drawn in Spain that are paid for from the UK, DLA and stuff, but I think all the cuts will only come from the UK side, to keep money in the UK economy and to appease the electorate.

rugbymatt

Look, I don't have the inclination to play games, welcome back whoever you are but I think you will find that the rest of us were discussing the subject, you decide to try and trow a weak insult. Go away or lear to play nice.

But we haven't mate, did you read the Spectator article? Nothing has changed, all we have done is opt out of being involved in Europe wide austerity measures, measures that in many people, not just Cameroon, feel are damaging to Europe... he is not the lone voice he is made out to be, others in Europe feel the same way but their politicians all want a place at the trough when Germany starts dishing out money, you know that as well as I do mate.
Trade will still be free, we will still be involved in Europe and all will be well with the world, but just how this "26" will work when not all are in the same classification in Europe will be interesting, my bet? It will last for a while then fall apart and we will all be back to renegotiate.

Mitzyboy

Hence my quote about "anything different to what cameron agreed" which got misconstrued by someone

But we'll never know will we!

Mitzyboy

If you dont think that what has happened will make us more of a minor player as far as the big power base of the EU is concerned .... then I'm not quite sure why. Look at it as a club. If one of the club members causes trouble then the other members just get tired of them eventually, and we are always seen as a country that isnt really sure if we want to be in the club or not.

rugbymatt

OK, so are you suggesting that we are looking at being pushed out of the EU?