Is Europe saying no to austerity?

[martin84]

Violence on the streets of Athens. Netherlands being confirmed as a basket case. Hollande set to assume control of France, scaring markets to death. Labour polling 12 points ahead of the Conservatives in the UK. Red Ken gaining on Boris to a point where its too close for comfort.

It'll be fascinating to see what happens if Hollande wins and sticks to his proposals. God knows what Germany will make of this but the broader point is it looks like Europe's voters are saying no to austerity and centre-right Governance. Is a tide turning?

Discuss.

[baz1985]

It can be contended that it never said ‘yes’. Historically, old and southern European governments have been allied to social democratic ideals vis a vis the market orientated British approach.

[EDLT]

Euro to collapse this autumn, again.

[fido]

It's saying 'yes' to eventual bankruptcy.

[martin84]

baz1985 said:

It can be contended that it never said ‘yes’.

Well of course. The only people who ever said austerity is the only answer are people who will not be affected by it. Its pretty much just banks, Governments and markets who say it has to be done and that is probably another side to the possible French revolt as it were.

Its not black and white though, the National Front's strong showing in France has shown theres also a strong anti-EU, anti-Euro alliance growing and with UKIP polling third here that feeling may be gathering pace here also. Well the UK has never liked the EU/Eurozone but so far nobody has actually put their money where their mouth is and voted to change it.

[davepoth]

Sentiment will pick up here later in the year when everyone realises how cheap taking holidays in Europe is again. EUR1.22 to the pound and still climbing, and sterling is staying roughly pegged to the dollar. Good news all round really.

[Ozzie Osmond]

How exactly do you say "no" to austerity? Or at least, it's easy to say but what does it mean?

You can't spend what you haven't got, and once you say you're not going to repay you existing borrowings who's going to lend you more money? (I'm talking here about proper big economies, not the Greek holiday camp.)

Seems a bit like saying "no" to cancer. Everyone likes the sound of it but not easy to deliver in the ral world!

[Happy82]

martin84 said:

God knows what Germany will make of this
Discuss.

[Marf]

Ozzie Osmond said:

How exactly do you say "no" to austerity?

If a party exists which says "non" to austerity and is happy to rack up the carte crédit nationale, you vote for them.

Stupid IMO, but that's democracy.

I'm more amazed by the turn out level in france. Could we ever dream of an 80%+ voter turn out?

I suspect though as the pundit on Newsnight last night pointed out, Hollande will crow about dropping austerity, gain power, realise the st they're in and be back to where we are now in about 6-8 months.

Either way, the eurozone seems like its in for a rocky ride.

[Steffan]

i do not think the EU is saying anything, to anyone, about anything, nor has it been for some time.

The EU have ensured junket trips, striding upon the stage and top down decisions are the form in Europe. Th EU has NO intention of asking anybody any questions at all particularly democratic questions of the electorate.

The EU believes it can manipulate and drive the electorate to give the required answers.

Happily the EU have blown it as Merkozy and Hollande, and indeed Holland the country, have recently demonstrated.

The buck is about to stop this nonsense. Collapse of the EU will follow shortly.

[Hooli]

Collaspe of the EU would be a wonderful event.

[Mr Happy]

Hooli said:

Collaspe of the EU would be a wonderful event.

Why? Surely we would be in dire straits due to our economy being tied into Europe, and as such we'd end up worse than we already are?

Realistically, if the EU collapsed, what would happen?

[Puggit]

Mr Happy said:

Hooli said:

Collaspe of the EU would be a wonderful event.

Why? Surely we would be in dire straits due to our economy being tied into Europe, and as such we'd end up worse than we already are?

Realistically, if the EU collapsed, what would happen?

We would be free to rebuild without its tyranny.

[Ozzie Osmond]

Now here's a thought....

• French voters see Greece in deep financial trouble.
• French voters see the Greek attempts at austerity.
• French voters see the Greeks engaging in "unrest".
• French voters see the Greeks bailed out.

French voters say, "We'll have a slice of that please!"

Obviously they can't have a slice because they are too big to be bailed out. But the homme in the rue may not be smart enough to realise that. Could get sticky.

[Mr Happy]

Puggit said:

Mr Happy said:

Hooli said:

Collaspe of the EU would be a wonderful event.

Why? Surely we would be in dire straits due to our economy being tied into Europe, and as such we'd end up worse than we already are?

Realistically, if the EU collapsed, what would happen?

We would be free to rebuild without its tyranny.

Ok, so if the EU collapsed tomorrow, what do you think would be the chain of events come Thursday?

[Puggit]

Germany invading?

[Mr Happy]

Puggit said:

Germany invading?

- here you go.... Do I have to put the words "serious replies only"? Really?

[Welshbeef]

One thing is for sure this period of time will be taught in economics for generations to come with the benefit of hindsight. Part of the degree.

Really interesting
Really worrying
Will have an impact on everyone regardless of if they have a view or not
May be the start of something very new and good could be the start of four decades of pain.


End of the day if your debt free as in mortgage free then this is a very good time reassuring whereas those with mega debts and high salary requirement it's worrying

[Puggit]

Mr Happy said:

Puggit said:

Germany invading?

- here you go.... Do I have to put the words "serious replies only"? Really?

If the EU collapses, no one has the foggiest clue what will happen on Thursday. And linking to the Lounge isn't going to help!?

Edited by Puggit on Tuesday 24th April 21:02

[Thom987]

Puggit said:

If the EU collapses, no one has the foggiest clue what will happen on Thursday. And linking to the Lounge isn't going to help!?

Edited by Puggit on Tuesday 24th April 21:02

As I see it we are all in a mess, everyone owes everyone else and then some. Could we not all start again with a clean slate or is that too simplistic?