If the Euro fails, are we all in for a bad shock?
Discussion
Happy82 said:
Or is it more that politicians fear the loss of their vision of a European super-state?
I have no idea of your political allegiance, but you might recall that a while back I kicked off a right old punch-up with the PH UKIP storm-troopers with the opening assertion that UKIP are a bunch of donkey-fondlers.Given your other forum contributions this evening, in retrospect that does seem rather spooky.
Not so much of a shock just a realisation that the self serving politicians are actually making lots of money whilst our economies nosedives.
Frankly no politician seems to give a flying f==k about the inevitability of economic collapse. Probably because their retirement nest egg is ready for use and growing steadily.
We are on the point of another Banking bail out by the taxpayer. This will be no better than the 2008 solution: it will simply protect the idiots in charge.
I will rephrase that. No one in government gives a f--k. Look after yourself.
Frankly no politician seems to give a flying f==k about the inevitability of economic collapse. Probably because their retirement nest egg is ready for use and growing steadily.
We are on the point of another Banking bail out by the taxpayer. This will be no better than the 2008 solution: it will simply protect the idiots in charge.
I will rephrase that. No one in government gives a f--k. Look after yourself.
If it fails then in the first year of the calamity most of our exporting businesses in the UK will go bust, as will our banks and we will default and go to the IMF. We will almost certainly have the house price crash that has been stalled by the zero rates etc etc.
The simple reality is that we are in such a weak state that we cannot possibly survive the demise of the Euro.
The reason why some MPs are wanting us to pull out is not because they are anti the EU per se but because they believe it is doomed and don't want Britain paying billions into an IMF bailout that can't work thus leaving us with even less money to survive the collapse.
It really isn't a pleasant scenario.
At some point they will be left with the only choice which will be to print the PIIGS out of debt and for Germany to be crippled with massive inflation, which their people still remember the last time.
The simple reality is that we are in such a weak state that we cannot possibly survive the demise of the Euro.
The reason why some MPs are wanting us to pull out is not because they are anti the EU per se but because they believe it is doomed and don't want Britain paying billions into an IMF bailout that can't work thus leaving us with even less money to survive the collapse.
It really isn't a pleasant scenario.
At some point they will be left with the only choice which will be to print the PIIGS out of debt and for Germany to be crippled with massive inflation, which their people still remember the last time.
DonkeyApple said:
The reason why some MPs are wanting us to pull out is not because they are anti the EU per se but because they believe it is doomed and don't want Britain paying billions into an IMF bailout that can't work thus leaving us with even less money to survive the collapse.
Why would leaving the EU remove our IMF obligations?eharding said:
Why would leaving the EU remove our IMF obligations?
Maybe it isn't the IMF but there is a central European fund that we will need to pay into if it is called upon to bail out EU members. The kaffufle at the moment is that the Franks are trying to get GB to partake in bailing out the PIGS as this is one of the routes that is being looked at to force us to pay up.
DJRC said:
Er yes Steffan.
What on earth have you been doing all your life so far? Expecting someone else to look after it?
No I have been self employed all my life. So far. Probably unemployable now.What on earth have you been doing all your life so far? Expecting someone else to look after it?
I did feel that the Politicians who were in power in my early career 40 odd years ago had a common aim of trying to improve the state of our country. They made mistakes, they did foolish things. But I did not get the sense of overwhelming self service that there seems to be with modern politicians.
The self serving apparatchiks we have now are so obviously self obsessed and self serving I am suspicious of the whole lot. And the extent and variety of the con man approach to expenses in parliament just finished it off for me.
Blair, Brown, Balls: reprehensible toady bullying s
tes to a man. Self self self: their three bywords.
DonkeyApple said:
If it fails then in the first year of the calamity most of our exporting businesses in the UK will go bust, as will our banks and we will default and go to the IMF. We will almost certainly have the house price crash that has been stalled by the zero rates etc etc.
The simple reality is that we are in such a weak state that we cannot possibly survive the demise of the Euro.
The reason why some MPs are wanting us to pull out is not because they are anti the EU per se but because they believe it is doomed and don't want Britain paying billions into an IMF bailout that can't work thus leaving us with even less money to survive the collapse.
It really isn't a pleasant scenario.
At some point they will be left with the only choice which will be to print the PIIGS out of debt and for Germany to be crippled with massive inflation, which their people still remember the last time.
Dont you think a flight from a failing euro by investors and the average euro alike would benifit us or a least our banks and property speculators imports would be cheaper and how much do we export to the EU? The simple reality is that we are in such a weak state that we cannot possibly survive the demise of the Euro.
The reason why some MPs are wanting us to pull out is not because they are anti the EU per se but because they believe it is doomed and don't want Britain paying billions into an IMF bailout that can't work thus leaving us with even less money to survive the collapse.
It really isn't a pleasant scenario.
At some point they will be left with the only choice which will be to print the PIIGS out of debt and for Germany to be crippled with massive inflation, which their people still remember the last time.
and if the euro was only worth say 25p our contributions to the EU would fall sounds like it might be ok
powerstroke said:
Dont you think a flight from a failing euro by investors and the average euro alike would benifit us or a least our banks and property speculators imports would be cheaper and how much do we export to the EU?
and if the euro was only worth say 25p our contributions to the EU would fall sounds like it might be ok
It's something like 30-40% of our exports. In the upheaval of the collapse our companies would lose stock, not get paid etc etc. Few of these firms could last for long in that situation, especially as our banks would be bust due to their exposure to EU banks. and if the euro was only worth say 25p our contributions to the EU would fall sounds like it might be ok
Sadly, if the British people hadn't put themselves in so much debt and if we had any form of sovereign wealth I would be thinking that we should let the EU default and sit back and sweep up the takings but we are as screwed as the PIGS in many regards.
Mojocvh said:
Osbourne had just stated that it is not for British taxpayer's to fund the bailout fund
I think the same should have applied to the banking system... let it fall, short(er) sharp shock, quicker return to normal, rather than the 10-15 years of rubbish we have to look forward to now. Do people think this holds true? If Europe failed and rebuilt, shock would be deep, but it would be quick. I suppose Iceland is an example to look at, if on a very small scale.
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