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Euro - The game is up!

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Comments

  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    Christ, I never thought I'd agree with that [r1ck. He's got that part about right though quite frankly.
  • A._Badger
    A._Badger Posts: 5,881 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    I could hardly believe my eyes when I read the other day that the Irish have been (more or less) instructed by some EU gauleiter not to hold a general election.

    Just who do these people think they are?

    All credit to Nigel Farage for staring these people in the eye - unlike Cameron, who bravely runs away. Then lies about it.
  • I watched that clip twice. I'd never thought I would agree with old Nige, but stone me he tells it like it is.

    :T
  • pqrdef
    pqrdef Posts: 4,552 Forumite
    A._Badger wrote: »
    I could hardly believe my eyes when I read the other day that the Irish have been (more or less) instructed by some EU gauleiter not to hold a general election.
    The Irish are lucky there's a bailout available. It's not like sovereignty and bankruptcy would be a better option.

    In the history of the world, the era of small wannabe-sovereign nation states was only ever a temporary aberration, and is now coming to an end.
    "It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis
  • A._Badger
    A._Badger Posts: 5,881 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    pqrdef wrote: »
    The Irish are lucky there's a bailout available. It's not like sovereignty and bankruptcy would be a better option.

    You're quite certain of that? That having your country run by unelected bureaucrats, whose mendacity and economic illiteracy caused half your problems in the first place, is better than trying to restructure your political and economic system to suit reality?
    pqrdef wrote: »
    In the history of the world, the era of small wannabe-sovereign nation states was only ever a temporary aberration, and is now coming to an end.

    The Kool Aid is in the fridge.
  • halight
    halight Posts: 3,629 Forumite
    Part of the Furniture Combo Breaker
    :T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T:T

    Loved it:beer:

    A lot of what he say makes sence,

    He wont win many friends in euro land by telling them the truth:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:
    :jYou can have everything you wont in lfe, If you only help enough other people to get what they wont.:j
  • Degenerate
    Degenerate Posts: 2,166 Forumite
    pqrdef wrote: »
    The Irish are lucky there's a bailout available. It's not like sovereignty and bankruptcy would be a better option.

    In the history of the world, the era of small wannabe-sovereign nation states was only ever a temporary aberration, and is now coming to an end.

    If the Irish hadn't ceded their monetary sovereignty to the EU they wouldn't be in this mess in the first place.
  • Ian_W
    Ian_W Posts: 3,778 Forumite
    Part of the Furniture 1,000 Posts Photogenic
    I'm not usually a fan of Nigel - comes across as a bit of a twot most of the time, but he certainly got that one right, IMHO. First politician who has spoken any real sense since the Euro began to unravel.

    I watched it twice just to see the looks on the Euro MPs faces when he finished. A cross between the look on your most prudish maiden aunts face when you accidentally let out a rather loud fart you thought would be silent - and the look on an adult face as they realise the kid might be right about the Kings new clothes. Priceless!!:D

    Music was interesting at the end too.
    Sounded like a Panza SS marching tune?
    :eek:
    [Exits scary forum stage left to maintain watching brief! ;) ]
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    Degenerate wrote: »
    If the Irish hadn't ceded their monetary sovereignty to the EU they wouldn't be in this mess in the first place.

    Yes they would. They've got the same problems as Iceland who were not Euro members.
  • tomterm8
    tomterm8 Posts: 5,892 Forumite
    Part of the Furniture Combo Breaker
    pqrdef wrote: »
    It's not like sovereignty and bankruptcy would be a better option.
    .

    It is a much better option. The fundamental problem is that Ireland simply can't repay its debts. This isn't a liquidity problem, it is a solvency problem. Irish bonds are already trading at a price that suggests the market knows this.

    If you can't repay your debts, and you have already done everything you can to try to sort out your finances, the best step is to default.

    Iceland did precisely that at the start of it's crises, it had a deep recession that was still less deep than Irelands, and it is now going great guns.

    Irelands leverage is this: if it defaults now, it will lose precisely nothing.
    “The ideas of debtor and creditor as to what constitutes a good time never coincide.”
    ― P.G. Wodehouse, Love Among the Chickens
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