Is the end nigh for the Euro? [vol. 3]
Discussion
Steffan said:
Indeed we have ringside seats to watch the Greek nonsense implode onto the EU. In reality this latest bailout is even more fanciful than the last one was. And will be a lost shorter in its lifetime! Rather than offering any real permanence the EU is happily throwing yet more Billions of Euro's away on retaining a Sovereign state within a currency that the Sovereign state concerned, Greece, cannot possibly afford to survive within. It cannot work!
This latest "Solution", will last, at best, for few months. Then the whole, Will Greece Fail? Can Greece Survive? Can the EU Sustain This Bail Out concerns will reappear, with a vengance and at full volume and in full force. This nonsense is never going to enable Greece to achieve economic recovery and Greece will therefre inevitably fall out of the EU and Euro. The steady decline of the economy of Greece over the last five years of this madness has already proved that, recovery by Greece is is just a dream. Just a question of how many more Billions will be wasted by the EU before reality is eventually recognised? In the end economic reality will prevail.
What then for the EU? Now that is a vexed question and becoming increasingly so as these flights of fantasy are explored by the EU. As others have said on here the position of Greece is steadily weakening not recovering. Nothing that the EU are doing will actually result in any improvement within the Greek economy. The EU can throw the money away by sustaining all the costs of Greece failing with EU subsidy enabling Greece to pretend to be in recovery. But Greece will not recover and there will be an awful lot of kerfuffle once the solvent EU states realise who's picking up the tab. They are!
Going to become a real problem for the EU and the EU have created the entire problem. Which the EU are going to fail to resolve. Dire Straits Indeed!
Chicken Little called and said to stop stealing his act.This latest "Solution", will last, at best, for few months. Then the whole, Will Greece Fail? Can Greece Survive? Can the EU Sustain This Bail Out concerns will reappear, with a vengance and at full volume and in full force. This nonsense is never going to enable Greece to achieve economic recovery and Greece will therefre inevitably fall out of the EU and Euro. The steady decline of the economy of Greece over the last five years of this madness has already proved that, recovery by Greece is is just a dream. Just a question of how many more Billions will be wasted by the EU before reality is eventually recognised? In the end economic reality will prevail.
What then for the EU? Now that is a vexed question and becoming increasingly so as these flights of fantasy are explored by the EU. As others have said on here the position of Greece is steadily weakening not recovering. Nothing that the EU are doing will actually result in any improvement within the Greek economy. The EU can throw the money away by sustaining all the costs of Greece failing with EU subsidy enabling Greece to pretend to be in recovery. But Greece will not recover and there will be an awful lot of kerfuffle once the solvent EU states realise who's picking up the tab. They are!
Going to become a real problem for the EU and the EU have created the entire problem. Which the EU are going to fail to resolve. Dire Straits Indeed!
Edited by Steffan on Thursday 20th August 17:44
As several other more knowledgeable posters have said on here, the level of debt round Greece's neck is unsustainable, it will default at some point soon, it's no longer if, but when...
Greece won't be allowed to drop out of the EU until all its valuable assets have been stripped, only two days ago Greek Prime Minister Alexis Tsipras sold off 14 regional airports to German company Fraport AG for €1.23bn, how's that for rebuilding the German empire.
Greece won't be allowed to drop out of the EU until all its valuable assets have been stripped, only two days ago Greek Prime Minister Alexis Tsipras sold off 14 regional airports to German company Fraport AG for €1.23bn, how's that for rebuilding the German empire.
There may be more effort required before this completes especially with the election in prospect. (The Election stuff was announced after this report was posted.)
http://www.ekathimerini.com/200729/article/ekathim...
http://www.ekathimerini.com/200729/article/ekathim...
LongQ said:
There may be more effort required before this completes especially with the election in prospect. (The Election stuff was announced after this report was posted.)
http://www.ekathimerini.com/200729/article/ekathim...
Thanks LongQ, very interesting link indeed.http://www.ekathimerini.com/200729/article/ekathim...
Very shrewd move by Alexis Tsipras after he secured the €86 billion bailout loan needed to prevent Greece defaulting on its current debt repayments and crashing out of the eurozone in spectacular fashion, I guess he bought Greece a few more months before they eventually do default. Bet the Germans didn't see that coming!
IF the EU is a body of nations, then in terms of the EU Greece is the equivalent of a gangrenous foot.
I never understood why markets sank on the prospect of Grexit, but improved when Greece`s bailout deal was announced.
Surely by amputating the gangrenous foot that is Greece from the system, that generally improves the prospects of survival of the remaining body of nations? That is what amputations are normally carried out to achieve.
I never understood why markets sank on the prospect of Grexit, but improved when Greece`s bailout deal was announced.
Surely by amputating the gangrenous foot that is Greece from the system, that generally improves the prospects of survival of the remaining body of nations? That is what amputations are normally carried out to achieve.
Pan Pan Pan said:
IF the EU is a body of nations, then in terms of the EU Greece is the equivalent of a gangrenous foot.
I never understood why markets sank on the prospect of Grexit, but improved when Greece`s bailout deal was announced.
Surely by amputating the gangrenous foot that is Greece from the system, that generally improves the prospects of survival of the remaining body of nations? That is what amputations are normally carried out to achieve.
so portugal is the other foot, spain and italy the hands and france the head, yea go for itI never understood why markets sank on the prospect of Grexit, but improved when Greece`s bailout deal was announced.
Surely by amputating the gangrenous foot that is Greece from the system, that generally improves the prospects of survival of the remaining body of nations? That is what amputations are normally carried out to achieve.
Pan Pan Pan said:
IF the EU is a body of nations, then in terms of the EU Greece is the equivalent of a gangrenous foot.
I never understood why markets sank on the prospect of Grexit, but improved when Greece`s bailout deal was announced.
Surely by amputating the gangrenous foot that is Greece from the system, that generally improves the prospects of survival of the remaining body of nations? That is what amputations are normally carried out to achieve.
Because the legitimacy of the Eurozone is underpinned by the idea that they are one big family of harmonious, prosperous statelets.I never understood why markets sank on the prospect of Grexit, but improved when Greece`s bailout deal was announced.
Surely by amputating the gangrenous foot that is Greece from the system, that generally improves the prospects of survival of the remaining body of nations? That is what amputations are normally carried out to achieve.
Walford said:
Pan Pan Pan said:
IF the EU is a body of nations, then in terms of the EU Greece is the equivalent of a gangrenous foot.
I never understood why markets sank on the prospect of Grexit, but improved when Greece`s bailout deal was announced.
Surely by amputating the gangrenous foot that is Greece from the system, that generally improves the prospects of survival of the remaining body of nations? That is what amputations are normally carried out to achieve.
so portugal is the other clubbed foot, spain the festering ball sack and italy the I never understood why markets sank on the prospect of Grexit, but improved when Greece`s bailout deal was announced.
Surely by amputating the gangrenous foot that is Greece from the system, that generally improves the prospects of survival of the remaining body of nations? That is what amputations are normally carried out to achieve.
Digga said:
Walford said:
Pan Pan Pan said:
IF the EU is a body of nations, then in terms of the EU Greece is the equivalent of a gangrenous foot.
I never understood why markets sank on the prospect of Grexit, but improved when Greece`s bailout deal was announced.
Surely by amputating the gangrenous foot that is Greece from the system, that generally improves the prospects of survival of the remaining body of nations? That is what amputations are normally carried out to achieve.
so portugal is the other clubbed foot, spain the festering ball sack and italy the I never understood why markets sank on the prospect of Grexit, but improved when Greece`s bailout deal was announced.
Surely by amputating the gangrenous foot that is Greece from the system, that generally improves the prospects of survival of the remaining body of nations? That is what amputations are normally carried out to achieve.
I wonder where that leaves us in the UK? If France, our nearest neighbour, is a festering ballsack then would it seem logical to say that we are an anal pustular? And Scotland is the yellow head of the boil, about to erupt?
DJRC said:
What's with the popar notion of the UK as being f
ked? The UK quite palpably isn't fked.
You may want to make a cup of tea first.ked? The UK quite palpably isn't fked.- Total debt 500% of GDP (household, government, corporate)
- Inflation virtually non-existent
- Record high current account deficit
- 3rd highest budget deficit in the European Union
- Productivity 20% lower than Germany
- Consumer debt twice EU average
- House prices five times average earnings
- Highest rents in Europe (higher than Switzerland!)
- British homes have smallest rooms in Western Europe
- Train fares 50% higher than rest of Europe
- Petrol and diesel 12% higher than rest of Europe
- Roads more congested than any major EU country
- Most expensive fruit and veg in the European Union
- 1.8 million single parent households (650,000 of which are not in any sort of work)
- Highest abortion rate in Western Europe
- Young people unhappiest and 'most alienated' in Europe
- Double the EU average of under-18s with no working parent at home
- More than half the population is overweight
- British people are least likely in Europe to intervene if they witness a crime
- Highest use of cocaine, ecstasy, and amphetamines in the EU
- Worst cancer survival rates in Western Europe
- Highest rate of deaths from strokes in the western world
- Teenage pregnancy, violent crime, and shoplifting capital of Europe
- Ranked 21st for science, 23rd for reading, and 26th for maths out of 65 countries
- 22% of children leave school functionally innumerate
- 17% are functionally illiterate
- Social mobility has not improved in 30 years
Edited by Luke Warm on Friday 21st August 16:43
Luke Warm said:
You may want to make a cup of tea first.
There's nowhere I'd rather live, it's been good to me and my family.- Total debt 500% of GDP (household, government, corporate)
- Inflation virtually non-existent
- Record high current account deficit
- 3rd highest budget deficit in the European Union
- Productivity 20% lower than Germany
- Consumer debt twice EU average
- House prices five times average earnings
- Highest rents in Europe (higher than Switzerland!)
- British homes have smallest rooms in Western Europe
- Train fares 50% higher than rest of Europe
- Petrol and diesel 12% higher than rest of Europe
- Roads more congested than any major EU country
- Most expensive fruit and veg in the European Union
- 1.8 million single parent households (650,000 of which are not in any sort of work)
- Highest abortion rate in Western Europe
- Young people unhappiest and 'most alienated' in Europe
- Double the EU average of under-18s with no working parent at home
- More than half the population is overweight
- British people are least likely in Europe to intervene if they witness a crime
- Highest use of cocaine, ecstasy, and amphetamines in the EU
- Worst cancer survival rates in Western Europe
- Highest rate of deaths from strokes in the western world
- Teenage pregnancy, violent crime, and shoplifting capital of Europe
- Ranked 21st for science, 23rd for reading, and 26th for maths out of 65 countries
- 22% of children leave school functionally innumerate
- 17% are functionally illiterate
- Social mobility has not improved in 30 years
Edited by Luke Warm on Friday 21st August 16:43
Luke Warm said:
You may want to make a cup of tea first.
Most unhappy? They clearly arn't taking enough ecstasy. In other news the weather is also crap.- Total debt 500% of GDP (household, government, corporate)
- Inflation virtually non-existent
- Record high current account deficit
- 3rd highest budget deficit in the European Union
- Productivity 20% lower than Germany
- Consumer debt twice EU average
- House prices five times average earnings
- Highest rents in Europe (higher than Switzerland!)
- British homes have smallest rooms in Western Europe
- Train fares 50% higher than rest of Europe
- Petrol and diesel 12% higher than rest of Europe
- Roads more congested than any major EU country
- Most expensive fruit and veg in the European Union
- 1.8 million single parent households (650,000 of which are not in any sort of work)
- Highest abortion rate in Western Europe
- Young people unhappiest and 'most alienated' in Europe
- Double the EU average of under-18s with no working parent at home
- More than half the population is overweight
- British people are least likely in Europe to intervene if they witness a crime
- Highest use of cocaine, ecstasy, and amphetamines in the EU
- Worst cancer survival rates in Western Europe
- Highest rate of deaths from strokes in the western world
- Teenage pregnancy, violent crime, and shoplifting capital of Europe
- Ranked 21st for science, 23rd for reading, and 26th for maths out of 65 countries
- 22% of children leave school functionally innumerate
- 17% are functionally illiterate
- Social mobility has not improved in 30 years
Edited by Luke Warm on Friday 21st August 16:43
Luke Warm said:
DJRC said:
What's with the popar notion of the UK as being fked? The UK quite palpably isn't fked.
You may want to make a cup of tea first.ked? The UK quite palpably isn't fked.- Total debt 500% of GDP (household, government, corporate)
- Inflation virtually non-existent
- Record high current account deficit
- 3rd highest budget deficit in the European Union
- Productivity 20% lower than Germany
- Consumer debt twice EU average
- House prices five times average earnings
- Highest rents in Europe (higher than Switzerland!)
- British homes have smallest rooms in Western Europe
- Train fares 50% higher than rest of Europe
- Petrol and diesel 12% higher than rest of Europe
- Roads more congested than any major EU country
- Most expensive fruit and veg in the European Union
- 1.8 million single parent households (650,000 of which are not in any sort of work)
- Highest abortion rate in Western Europe
- Young people unhappiest and 'most alienated' in Europe
- Double the EU average of under-18s with no working parent at home
- More than half the population is overweight
- British people are least likely in Europe to intervene if they witness a crime
- Highest use of cocaine, ecstasy, and amphetamines in the EU
- Worst cancer survival rates in Western Europe
- Highest rate of deaths from strokes in the western world
- Teenage pregnancy, violent crime, and shoplifting capital of Europe
- Ranked 21st for science, 23rd for reading, and 26th for maths out of 65 countries
- 22% of children leave school functionally innumerate
- 17% are functionally illiterate
- Social mobility has not improved in 30 years
Edited by Luke Warm on Friday 21st August 16:43
Its a lovely list. Now then, how is the UK f
ked?Before you answer...come and live in a few different countries in Europe. Given you are parroting that list to me of all ppl then I look forward in amusement...
Andy Zarse said:
Luke Warm said:
That's of course before the loony lefties of the various Syriza factions all turn on each other and make the current Corbyn/Labour spat look like the vicar's tea party. 
Tzippy really is a snake oil salesman of the highest order. I said on here back in January he was elected on a lie; to end austerity and stay in the Eurozone. So what will be his position this time? How will he spin it? This is going to be good...
As for these latest left wing splitters and the daft goings on then who knows what comes next?!
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