Britain out of Europe? should I stop buying NAIM
Posted by: Salvo on 09 December 2011
As Mr Cameron said, ...It is not in Britain interest...
What you all think?
salvo
wonder were we were if it were just the northern European countries that were in the EU it seems the southerners have less control (Greece,Portugal,Italy)
wonder were we were if it were just the northern European countries that were in the EU it seems the southerners have less control (Greece,Portugal,Italy)
Do not forget that Italy France and Germany created the european "comunion" to begin with, Britain an the rest came much much later.
Italians do have control, the italian polititians much much less.
salvo
UK, US have a debt crisis too, and they don't have the euro. There are countries that have the euro and no debt crisis. If Greece still had the drachme it could devalue by 50% and thereby get rid of 50% of the debt, leaving the banks with 50% write-offs too. I see no difference to a euro debt relief of 50%.
Not sure if they could simply "devalue by 50%" just like that. Most of their debt is foreign ie. denominated in EUR hence any potential Dhs devaluation by 50% would just make the foreign debt 50% more expensive in Dhs value terms. They will still have to repay the same amount in EUR, won't they?
Bobby
I took this to mean had the Euro not existed - they would have borrowed the money in drachmas and thus could devalue the debt through printing.
That's even more sneaky than leaving a wooden horse outside your neighbours house
It all comes down to RESPONSIBLE LENDING, you get that at your local bank. At this EURO level of money lending between countries the level of intelligence, criteria and job competence for the decision making SHOULD be of the highest level. Unfortunately as we can see it is not. The powers that be are just as much to blame.
Sorry but the wooden horse left outside Athens was not in the form of a wooden horse as the Greeks would have seen that coming but in the form of the EURO.
A planned outcome from the start.
Popular press readers on the English side of the channel may explain the current crisis by the “facts” that the Frenchs are cowards (see above), Italians lazy, Germans Nazis, or similar racist prejudices, or by conspiracy theories and racist prejudices on the other side of the channel . May I recommend to popular press abstainers the book This Time Is Different: Eight Centuries of Financial Folly by Carmen Reinhart and Kenneth Rogoff ISBN-10: 0691142165.
I may, some day, switch from NAIM to another (Scottish ?) brand, but this has obviously nothing to do with David Cameron policy.
Fair point Alain.
It's hard to deny Michael Palins character is a dead ringer for most of the Tories gloating at Cameron's actions.
Don't worry, the ECB's printing presses have gone into overdrive and France's pissed up dwarf wants the banks to use the money to buy more sovereign debt.
Merry Christmas to all,
OW
Don't worry, the ECB's printing presses have gone into overdrive and France's pissed up dwarf wants th
He is a teetotaler
Cheers
And I'm a perfect 10.
Cheers,
Ow
If you do not believe me, ask Google.
It's his PR machine I don't believe.
He is not just another French right wing leader. In some aspects he is very different from his predecessors: he was a very mediocre student, he has the artistic tastes of the average popular press reader, he has explicit contempt for academics, he enjoy nothing more than the company of vulgar popular entertainers and French oligarchs, and yes, he has no taste for cuisine and wine.
It is not easy to understand the politics of another country. A couple of year ago the Economist wrote an article about Jacques Chirac (a former French president). According to this article the French like to say that Chirac is a radical socialist. This is not quite true, some French liked to say that Chirac is a “radical socialiste”, referring to a very moderate centre of left party.