Europe heading into recession

Author
Discussion

Tlandcruiser

Original Poster:

2,788 posts

197 months

Sunday 13th January 2019
quotequote all
https://www.businessinsider.com/europe-austerity-i...

Manufacturing down accross Europe, what are your views on the article?

I've always thought the country has never appeared to get over the recession and Europe just seems like we are in a Zombie mode, just plodding along as people seem to have less disposable income and spend less, I dont know whether its a nationwide salary stagnation.

Would cutting taxes and reducing VAT not help? give people more disposable income and get the population spending money?


mike74

3,687 posts

131 months

Sunday 13th January 2019
quotequote all
Anyone with half a brain can see that ''emergency'' interest rates and money printing has just kept things in 'zombie mode' since 2008.

Question is will they try to kick the can down the road again with yet more of the same?

BlackLabel

13,251 posts

122 months

Sunday 13th January 2019
quotequote all
mike74 said:
Anyone with half a brain can see that ''emergency'' interest rates and money printing has just kept things in 'zombie mode' since 2008.

Question is will they try to kick the can down the road again with yet more of the same?
Yet the author seems to be saying that much more public spending and therefore borrowing (and I assume money printing) post 2008 was the solution to prevent the upcoming recession.



DeejRC

5,712 posts

81 months

Sunday 13th January 2019
quotequote all
Europe has been in zombie mode for 10yrs. It was the only option they had available to keep the show intact. To an extent it has worked - Spain stabilised and has started a long slow recovery path, Greek is still alive (just), Italy is still alive and the Populists held in check, Portugal stabilised and has had a very serious attempt at reinventing itself as a dynamic and outward focussed country. I have an awful lot of admiration and like for Portugal - if someone in the EU had a bit of imagination they would be hawking them as the posterboy for the EU saving the world in the last decade.

But they don’t.

The downside is the big dogs haven’t been allowed to do anything, go anywhere, grow etc.

superlightr

12,842 posts

262 months

Sunday 13th January 2019
quotequote all
DeejRC said:
Europe has been in zombie mode for 10yrs. It was the only option they had available to keep the show intact. To an extent it has worked - Spain stabilised and has started a long slow recovery path, Greek is still alive (just), Italy is still alive and the Populists held in check, Portugal stabilised and has had a very serious attempt at reinventing itself as a dynamic and outward focussed country. I have an awful lot of admiration and like for Portugal - if someone in the EU had a bit of imagination they would be hawking them as the posterboy for the EU saving the world in the last decade.

But they don’t.

The downside is the big dogs haven’t been allowed to do anything, go anywhere, grow etc.
and one of the big boys -the UK is now leaving with their football. Have there been any plans from the EU as to how they will fill the loss of our contribution to their budget? ie spend less or raise more?

wc98

10,334 posts

139 months

Sunday 13th January 2019
quotequote all
DeejRC said:
Europe has been in zombie mode for 10yrs. It was the only option they had available to keep the show intact. To an extent it has worked - Spain stabilised and has started a long slow recovery path, Greek is still alive (just), Italy is still alive and the Populists held in check, Portugal stabilised and has had a very serious attempt at reinventing itself as a dynamic and outward focussed country. I have an awful lot of admiration and like for Portugal - if someone in the EU had a bit of imagination they would be hawking them as the posterboy for the EU saving the world in the last decade.

But they don’t.

The downside is the big dogs haven’t been allowed to do anything, go anywhere, grow etc.
bit o/t but i love portugal and the people . i have quite a few portugese friends ,if i ever decided to live anywhere in europe it would be portugal.

V1nce Fox

5,508 posts

67 months

Sunday 13th January 2019
quotequote all
Bugger. I'm due to renew my mortgage deal in the second half of this year. My arse is clenched already about what sort if rate I'm going to end up having to foot.

Tony427

2,873 posts

232 months

Sunday 13th January 2019
quotequote all
superlightr said:
and one of the big boys -the UK is now leaving with their football. Have there been any plans from the EU as to how they will fill the loss of our contribution to their budget? ie spend less or raise more?
IIRC the net recipients say that a reduction in their budget is unacceptable and the net donors say an increase in their payments is unacceptable.

So thats alright then.

Cheers,

Tony

DeejRC

5,712 posts

81 months

Sunday 13th January 2019
quotequote all
wc98 said:
DeejRC said:
Europe has been in zombie mode for 10yrs. It was the only option they had available to keep the show intact. To an extent it has worked - Spain stabilised and has started a long slow recovery path, Greek is still alive (just), Italy is still alive and the Populists held in check, Portugal stabilised and has had a very serious attempt at reinventing itself as a dynamic and outward focussed country. I have an awful lot of admiration and like for Portugal - if someone in the EU had a bit of imagination they would be hawking them as the posterboy for the EU saving the world in the last decade.

But they don’t.

The downside is the big dogs haven’t been allowed to do anything, go anywhere, grow etc.
bit o/t but i love portugal and the people . i have quite a few portugese friends ,if i ever decided to live anywhere in europe it would be portugal.
Oh absolutely!
I had the pleasure and fortune to do business with a small young manufacturing industry in Portugal 2-3 yrs ago. They were a supplier I had whilst I was working the Netherlands and whilst we had quite a few problems with them - bringing them up to speeds on standards etc - it was always a pleasure to go there.
They wanted to learn, wanted to get better. The whole industry base wanted to grow. They were dynamic and hungry.
As to the country - loved it! The ppl had none of the arrogance of Spain, friendly polite, helpful. The food is amazing and the wine ... Well, my other home is Bordeaux area, so I’m quite comfortable being a wine snob, if it ain’t Bordeaux I won’t go, etc... Portuguese wine is the equal of much of the stuff I’ve drunk in France. Absolutely outstanding produce. The shock of it is that almost none of this stuff is exported!! The Portuguese themselves admit they have been very poor in exporting their cuisine culture and hope to change that. I absolutely wish them well.

I seriously miss that country. Amusing “cos Brexit” my current UK compny is looking at opening an office in Portugal. Already told em I want it if the do that.

Rovinghawk

13,300 posts

157 months

Sunday 13th January 2019
quotequote all
superlightr said:

Have there been any plans from the EU.................... ie spend less?
You really have to ask whether they intend to spend less? smile

Sheepshanks

32,538 posts

118 months

Sunday 13th January 2019
quotequote all
V1nce Fox said:
Bugger. I'm due to renew my mortgage deal in the second half of this year. My arse is clenched already about what sort if rate I'm going to end up having to foot.
confused If Europe (inc the UK) is on its arse then interest rates should be low.

I'd be more worried about the bigger picture - you might not have a job.

PositronicRay

26,959 posts

182 months

Sunday 13th January 2019
quotequote all
Sheepshanks said:
V1nce Fox said:
Bugger. I'm due to renew my mortgage deal in the second half of this year. My arse is clenched already about what sort if rate I'm going to end up having to foot.
confused If Europe (inc the UK) is on its arse then interest rates should be low.

I'd be more worried about the bigger picture - you might not have a job.
Unless lending criteria is reined in.

Dogwatch

6,223 posts

221 months

Sunday 13th January 2019
quotequote all
I understood that Italy's GDP is pretty much the same as in 2008.

Earthdweller

13,434 posts

125 months

Sunday 13th January 2019
quotequote all
Tony427 said:
superlightr said:
and one of the big boys -the UK is now leaving with their football. Have there been any plans from the EU as to how they will fill the loss of our contribution to their budget? ie spend less or raise more?
IIRC the net recipients say that a reduction in their budget is unacceptable and the net donors say an increase in their payments is unacceptable.

So thats alright then.

Cheers,

Tony
And Ireland has said it will need billions of Euro’s in emergency aid from the EU in the case of a no deal Brexit

williamp

19,217 posts

272 months

Sunday 13th January 2019
quotequote all
With most of europe heading into recession, you'd think they would push for a good deal with a major trading neighbour, to minimise the chance of WTO trade rules in the event of a no deal.

Heck, what am I saying....

voyds9

8,488 posts

282 months

Sunday 13th January 2019
quotequote all
Like we are playing a game of poker against a man with few chips so does he leave the table with very little or go all in and try to win something.

V1nce Fox

5,508 posts

67 months

Sunday 13th January 2019
quotequote all
Sheepshanks said:
V1nce Fox said:
Bugger. I'm due to renew my mortgage deal in the second half of this year. My arse is clenched already about what sort if rate I'm going to end up having to foot.
confused If Europe (inc the UK) is on its arse then interest rates should be low.

I'd be more worried about the bigger picture - you might not have a job.
Nah, they'll always need mouths down the docks.

mattikake

5,057 posts

198 months

Sunday 13th January 2019
quotequote all
The EU is dying and has been slowly dying since 2008. Everything has just been stall tactics. It seems every few months since the Brexit referendum George Soros has been saying the EU is on the brink of collapse and/or that Brexit will be the final nail in the coffin.

The death throws of the EU was the main reason I voted leave. The timing couldn't be better.

tannhauser

1,773 posts

214 months

Sunday 13th January 2019
quotequote all
Tlandcruiser said:
Would cutting taxes and reducing VAT not help? give people more disposable income and get the population spending money?
fk spending money FFS!! That's what got us into this mess!


anonymous-user

53 months

Sunday 13th January 2019
quotequote all
Dogwatch said:
I understood that Italy's GDP is pretty much the same as in 2008.
It is.

And Portugal's a tiny country in terms of population with 8% unemployment (20% Youth unemployment). It has a tiny GDP and per capita is about half that of the UK, despite our faster growing population. It's doing better from a pretty poor base but not much of a template for any major economy.

A nice place, but no powerhouse just yet.