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Re: Violence in Spain
Originally Posted by stuboy
(Post 10169263)
Absolutely.
The thickest of people know that you cannot keep a buisness going that is losing money for ever. The taxpayer bailed out the miners and the unions for too long. Thatcher halted the gravy train. Miners for some reason always belived that they were a special case, Why? They knew it was a shit job when they started, they knew it wouldn't last because imported coal was cheaper but still they followed their forebears down the pit. Why? because they believed it was a well paid job for life. The Unions had the country to ransome and they thought they were invincible. Back to Spain,....will the population continue to remain under control, if as forecast unemployment continues to rise for quite a few years to come and the interest rate on the bail out/loan remains unsustainable ? I tend to agree with previous posts, that a fresh start with a new currency is the best way forward. |
Re: Violence in Spain
Surely that would depend if when changing the money back to the new one, that a realistic level is negociated, otherwise the value of the money in banks as personal savings would plummet overnight.
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Re: Violence in Spain
Originally Posted by JLFS
(Post 10170205)
Surely that would depend if when changing the money back to the new one, that a realistic level is negociated, otherwise the value of the money in banks as personal savings would plummet overnight.
The value of debts would plummet with inflation, especially if the exchange rate was set at a generous amount at the beginning The whole purpose of a currency change would be to inflate debt away. In such a case, make sure you have savings in a foreign currency! |
Re: Violence in Spain
Originally Posted by cricketman
(Post 10170214)
Yes, but savings aren't the problem, debts are
The value of debts would plummet with inflation, especially if the exchange rate was set at a generous amount at the beginning ( The whole purpose of a currency change would be to inflate debt away. In such a case, make sure you have savings in a foreign currency! If the new currency did not equal near enough to the value of the euro, then the business that have to rely on buying from abroad (raw materials and such) would not be able to buy to the same extent, and quite a few small manufactures that I know of, would find it really tough to carry on, as their customers would/could not pay the higher price that would be charged to cover the conversion loss on raw materials. Which might help with debt control, but lead to a lot of job losses. |
Re: Violence in Spain
Originally Posted by JLFS
(Post 10170227)
Well you say that saving are not the problem, but they are, as people will be looking for ways to conserve them.
If the new currency did not equal near enough to the value of the euro, then the business that have to rely on buying from abroad (raw materials and such) would not be able to buy to the same extent, and quite a few small manufactures that I know of, would find it really tough to carry on, as their customers would/could not pay the higher price that would be charged to cover the conversion loss on raw materials. Which might help with debt control, but lead to a lot of job losses. Leaving the Euro would be terrible in the short term but give hope in the mid term At the moment, we are looking at a slow death over the next 10 years or so There is no good or easy solution |
Re: Violence in Spain
Originally Posted by cricketman
(Post 10170229)
Yep, in the short term it would wipe out savings and many businesses
Leaving the Euro would be terrible in the short term but give hope in the mid term At the moment, we are looking at a slow death over the next 10 years or so There is no good or easy solution |
Re: Violence in Spain
A lot of Eurozone countries are starting to think along the same lines, how can we live with nothing but austerity for the foreseeable future? What about our children's future?
For them the Euro years have turned from untold riches to start with into untold misery. They need a volunteer to put their head over the parapet to see what happens when the old currency is reintroduced. They may have found one - Greece can't survive in the Eurozone and will probably have to return to the Drachma. Soon. Then the other southern European countries can watch from the sidelines; depending on what happens in Greece, Spain's printing presses will be ready to churn out those lovely Peseta notes once more. But there may be an even earlier solution to the Euro crisis. The country with the most Eurosceptics in Europe is Germany, by far. They want out and the Deutschmarks are already being printed. Mrs Merkel has an election next year and already knows that she is for the chop. |
Re: Violence in Spain
Originally Posted by HBG
(Post 10168680)
From what I can gather from the Spanish people I speak to an a daily basis, the miners from up north don't get much sympathy down this way. They realise that the mining industry has been over-subsidised for years and is longer viable.
Much the same as back in the UK 30 years ago. Thatcher had a far better plan, let's close all those lame duck industries. Put the workers on the dole and subsidise the bankers. |
Re: Violence in Spain
Originally Posted by missile
(Post 10170484)
and why is that the fault of the hard working miners ?
Thatcher had a far better plan, let's close all those lame duck industries. Put the workers on the dole and subsidise the bankers. Strange it rarely gets a mention. :confused: |
Re: Violence in Spain
I know everyone keeps suggesting that Greece or Spain or A.N. other should leave the Euro but the mechanicas of how this works must be exercising someone's mind. As soon as someone gets wind of it (and they'll never be able to keep quiet thet they are printing new notes) everyone will want to withdraw their money from the banks to prevent the accounts being frozen - wasn't that what happened with Northern Rock? Firstly is there enough money in the banks and secondly what's to stop everyone then going to another EU country to convert the money back at what would be a nice healthy profit? Answers on a postcard to A Merkel perhaps??
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Re: Violence in Spain
Is all this talk of money laundering true or is it just an excuse to keep a very very close eye on you and what you have?......I wonder?:confused:
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Re: Violence in Spain
Today ..British Pound (GBP) to Euro (EUR) Exchange Rate£1 = € 1.2713 +0.0003€1 = £ 0.7866 -0.0002
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Re: Violence in Spain
Originally Posted by steviedeluxe
(Post 10169142)
Funny how umpteen billions can always be found for the bankers though, isn't it? :thumbdown:
Scargill was paid £70,000 p.a. plus perks http://www.dailymail.co.uk/news/arti...neworkers.html Not a lot when compared to the obscene amounts paid to some charity CEO's or the £18,000,000 bonus which Bob Diamond was forced to give up. Shame he got only £2,000,000 serverance. Fred Goodwin, ........... let's not go there:eek: |
Re: Violence in Spain
Look, I'm opening a bank, Anonimouses Bank, please join.............Can't fail, I'll get youre money one way or the other lol:rofl::rofl:
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Re: Violence in Spain
Originally Posted by rspltd
(Post 10170563)
I know ... everyone will want to withdraw their money from the banks to prevent the accounts being frozen ...??
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