Europe warns Britain of dangers of rising debt

halight

http://business.timesonline.co.uk/tol/business/economics/article6565850.ece

Degenerate

Look over there!

purch

....the European Commission classed Britain alongside the struggling Irish Republic and stricken Latvia as the European Union economies whose national finances had been most dangerously hit by the costs of the crisis....

That's not good company to be keeping :eek:

Jonbvn

At least the UK has it's own currency, which will likely devalue when Alastair goes to the IMF. Spain & Ireland have no such luxury.

Methinks the jobsworths in Brussels need to look after their own house before they worry about ours!

ruggedtoast

Alistair Darling was again urged to take more urgent and radical measures to bolster the UK’s budgetary position,

I have a radical idea. How about not borrowing billions of pounds to hand over to a bankers so that they can start paying themselves telephone number bonuses again and 9 million pound salaries.

Invest the money in education and health and research and see where that gets us for once.

StevieJ

halight wrote: »

http://business.timesonline.co.uk/tol/business/economics/article6565850.ece

European commission, have they suddenly become the font of all knowledge, most people on here think they don't know their !!!! from their elbow, or is that not true when they are having a go at Labour finances

Rochdale_Pioneers

Well the EU would know something about the dangers of rising debt, so I will take their warning under advisement. This warning is a bit like the Germans loudly criticising the large size of Britain's fiscal stimulus whilst quietly running their own stimulus far bigger than ours.

As for RBS, I support Hestor's package. Its mainly dependent on future success and its value depends on that success. If he succeeds then he delivers large profits to the UK exchequer as we sell off the now inflated RBS shares back to the private sector.

A £10bn taxpayer profit in return for a £9m salary? Seems like a reasonable deal.

StevieJ

Rochdale_Pioneers wrote: »

A £10bn taxpayer profit in return for a £9m salary? Seems like a reasonable deal.

If he totally fails and the share price disintegrates he will receive £1.2 million :eek:

Wookster

Rochdale_Pioneers wrote: »

Well the EU would know something about the dangers of rising debt, so I will take their warning under advisement. This warning is a bit like the Germans loudly criticising the large size of Britain's fiscal stimulus whilst quietly running their own stimulus far bigger than ours.

As for RBS, I support Hestor's package. Its mainly dependent on future success and its value depends on that success. If he succeeds then he delivers large profits to the UK exchequer as we sell off the now inflated RBS shares back to the private sector.

A £10bn taxpayer profit in return for a £9m salary? Seems like a reasonable deal.

OUT OF CONTROL PUBLIC DEBT. That's what the problem is. Labour aren't financially incompetent, they are financially incontinent. As soon as they open their mouth the cash burn goes. The latest example is the failed immigrant scheme (£1m to result in 1 family leaving: http://news.bbc.co.uk/1/hi/uk/8115630.stm)

No doubt we'll have Harriet Hellman come and tell the public (with that stern voice of a teacher ticking off an unruly student) that this represents good value for taxpayers.

halight

StevieJ wrote: »

European commission, have they suddenly become the font of all knowledge, most people on here think they don't know their !!!! from their elbow, or is that not true when they are having a go at Labour finances

No Mate,
I only posted it because i thourt that some on here would be intrested in it.
I think that most ( but not all) of what the EU says about us is mostly just trying to get one over on us or have a go at us.

But i do agree with what other countrys and world banks say about our level of debt. And a lot of what brown has done to try to combat the down turn has not worked or even come close. E.g. The V.A.T cut. This has just cost the country alot of money and has not achived much.
I do think scraping old cars and getting £2000 off a new one is a good idea and im very happy for the folk that have taken it up. (i dont have a car anyway by the way)

I belive in small Gov and small overdrafts:p