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Greece won't hit defecit targets
Comments
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If the Lib Dem backbenchers ever get round to revolting, Labour will oppose the government whether it agrees with it or not, just to embarrass the government with a lost vote. Doesn't matter what the issue is.
Which is all that happened today in Slovakia. The opposition has exploited a rift in the coalition to bring down the government. Having done that, it will support the EFSF."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 Lewis0 -
Which is all that happened today in Slovakia. The opposition has exploited a rift in the coalition to bring down the government. Having done that, it will support the EFSF.
I'm sure some leverage will be applied before their vote is secured.
As a poor nation who can blame them.
The EU has to move towards a centralised fiscal union or breakup.0 -
When gold was the currency, people managed with a common currency and no fiscal union.
In any case, I don't see any way to have a fiscal union consisting of only part of the EU. It would need its own separate decision-making structures - but having made its decisions, it would then be strong enough as a bloc to impose them on the rest of the EU. This would not be acceptable."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 Lewis0 -
vivatifosi wrote: »Glad you brought Slovakia up Dev. Apparently the question going round there is "why should we bail out a country that is wealthier than us?"
Fair point, really....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
They have said yes to the last question they were asked which dates back to July but that is already acknowledged as being out of date and not enough in money terms. In the near future it's all going to start again and they will all be asked to vote on more funds and other measures to help the crisis. Even the Angela Merkel was warned by the other government parties that she could not rely on their unconditional support in future votes. Maybe some of the smaller countries will start to say enough is enough and do what Slovakia has done?
That's my thought too Mrs Bones. IMO we are starting to see a very large disconnect between politicians and their people. I know in the UK politicians talk about what goes on in "Westminster Village" being important to politicans but the general populace holding a different opinion. There's clearly a very large "Brussels Village" too.
I can't believe the level to which politicians are becoming disengaged from their populations, their nations. This is not good IMO, because there are so many nationalist movements waiting at the fringes. Whatever governments think, a lot of people, probably the majority in smaller poorer countries, do not give a damn about Greece because they already have enough problems themselves.
Meanwhile the gurus in Brussels, who clearly don't have a chuffing clue, vote themselves increases in funding and increase the burden on such nations even when they are hurting.
It wouldn't surprise me at all to see an official photograph of the leaders looking smug, showing how they've worked together to save Greece; followed by a massive unravelling a few months down the line as either a) Greeks decide they can't keep to the plan or b) the people of other nations take to the streets. Then this merry-go-round can start over.Please stay safe in the sun and learn the A-E of melanoma: A = asymmetry, B = irregular borders, C= different colours, D= diameter, larger than 6mm, E = evolving, is your mole changing? Most moles are not cancerous, any doubts, please check next time you visit your GP.
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When gold was the currency, people managed with a common currency and no fiscal union.
.
Not really the case, though, is it? When gold was the currency, they had a series of great depressions. The cost of the single currency with no fiscal union and no way to control the quantity of currency was that you couldn't do much about these downturns.
No one is doubting you can have a common currency with no fiscal union. But it's a stupid idea.“The ideas of debtor and creditor as to what constitutes a good time never coincide.”
― P.G. Wodehouse, Love Among the Chickens0 -
Thrugelmir wrote: »The amount that Slovakia is being asked to contribute is equivalent to their annual GDP. A slightly different situation.
Average Civil service pension in Greece is around 1200 Euros a month. In Slovakia 300 Euros.
How would you feel in that situation?
The population of Slovakia is roughly half that of Greece, so all it needs for those Greed pensioners to contribute 150 euro a month to double the Slovakian pensions. That is the least they can do.
That will probably buy enough votes - sorted.
If that does not work; how about all Greeds are required to leave their homes for 3 weeks in the summer (go camping or something) and the hard working successful peasants of Slovakia can move in for a nice holiday.
Failing that their Govenment could send the Beagle to do a survey of the Greed islands to see if it is possible to do a deal where little Slovakia ended up with some island colonies in the Aegean.
[It did not work with the Galapagos but perhaps that bloke Darwin could not find anything sufficiently valuable to do the deal].
Shusssh, Don't give the Chinese ideas, or none of us will get a look in for a cheap Greed island holiday..0 -
why is it that whenever there is a no vote to do with europe - no matter what it is about or which country it is in - there is always another vote and another until they get the "yes". But if they vote "yes" then they can never have a re-vote to get the "no"?
corrupt and useless. that should be Europe's maxim.0 -
The_White_Horse wrote: »why should they get it? if they do, i know what i would do if i was ireland, spain, portugal, italy etc. keep on spending baby, the free money is on its way!
Surely you should be massively in favour of this though? The whole process is just a way to utterly gut the public sector which I thought was your dream!0 -
Ilya_Ilyich wrote: »Surely you should be massve in favour of this though? The whole process is just a way to utterly gut the public sector which I thought was your dream!
Are you sure?
The main point of these bailouts is to keep the public sector going along merrily at levels which the countries cannot afford to pay for themselves.
In other words, Greece will now being using German, Slovac etc cash to go on paying very large salaries, pensions etc. to their civil servants0
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