French arrogance over the Euro

Wookster

Nicolas Sarkozy tells David Cameron: shut up over the euro
• Anglo-French row holds up EU summit
• PM braced for biggest Commons revolt

http://www.guardian.co.uk/politics/2011/oct/23/cameron-sarkozy-euro-debt-crisis

With egos like this, its no wander the Euro is falling apart.

ruggedtoast

Sarkozy bluntly told Cameron: "You have lost a good opportunity to shut up." He added: "We are sick of you criticising us and telling us what to do. You say you hate the euro and now you want to interfere in our meetings."

Seems fair enough to me. Cameron does hate the euro, he is constantly criticising them, and he does want to interfere in their meetings. I'd be annoyed too.

vax2002

Cameron will do what the money lenders order him to do.

TruckerT

ruggedtoast wrote: »

Seems fair enough to me. Cameron does hate the euro, he is constantly criticising them, and he does want to interfere in their meetings. I'd be annoyed too.

If you can't beat them, and you don't want to join them, then stop annoying them!

It seems to me that, in the present situation, we would be better off if we had joined the Euro - we will suffer from the Euro's failure as if we were fully paid up members, but we have no say in the current negotiations

TruckerT

Generali

ruggedtoast wrote: »

Seems fair enough to me. Cameron does hate the euro, he is constantly criticising them, and he does want to interfere in their meetings. I'd be annoyed too.

If the UK is going to be expected to pay a chunk of the bailout then it seems reasonable to want to stick your oar in as UK PM.

Sarkozy is looking very temporary as President and is a new father so perhaps we should forgive his short temper.

I can't imagine that a Socialist regime in France will sit well with the markets. The Left doesn't seem to have worked out yet that the problem with countries raising finance isn't that people are shorting bonds it's that investors don't want to go long!

TruckerT

Generali wrote: »

If the UK is going to be expected to pay a chunk of the bailout then it seems reasonable to want to stick your oar in as UK PM.

Sarkozy is looking very temporary as President and is a new father so perhaps we should forgive his short temper.

I can't imagine that a Socialist regime in France will sit well with the markets. The Left doesn't seem to have worked out yet that the problem with countries raising finance isn't that people are shorting bonds it's that investors don't want to go long!

What is the difference between a bank bailout, and a bank recapitalisation? Why do the banks resist recapitalisation? Why will British banks not have to seek recapitalisation under the deal which was reported yesterday?

TruckerT

michaels

Cos they don't hold as much worthless Eur govt bonds as the European banks who generally hold thgeir own govt bonds because the regulators insist they do.

ruggedtoast

Generali wrote: »

If the UK is going to be expected to pay a chunk of the bailout then it seems reasonable to want to stick your oar in as UK PM.

Sarkozy is looking very temporary as President and is a new father so perhaps we should forgive his short temper.

I can't imagine that a Socialist regime in France will sit well with the markets. The Left doesn't seem to have worked out yet that the problem with countries raising finance isn't that people are shorting bonds it's that investors don't want to go long!

France just lost the rugby too, he's had a tough day.

TruckerT

michaels wrote: »

Cos they don't hold as much worthless Eur govt bonds as the European banks who generally hold thgeir own govt bonds because the regulators insist they do.

If a bond is 'worthless', then surely it doesn't matter whether you hold lots, or none at all - a zillion times nothing equals, well... nothing!

TruckerT

TruckerT

ruggedtoast wrote: »

France just lost the rugby too, he's had a tough day.

Some might say that, unlike the future of the French economy, the result of the French rugby game was entirlely predictable

TruckerT

gailey_2

TruckerT wrote: »

What is the difference between a bank bailout, and a bank recapitalisation? Why do the banks resist recapitalisation? Why will British banks not have to seek recapitalisation under the deal which was reported yesterday?

TruckerT

I think its because the 2bank bailouts we did since the crunch recapitalised the banks enough.
Also uk banks not as exposed to as much greek debt as french or european banks.
Could also be quantative easing as we have our own economy combined with low interest rates and good credit rating mean we are better place despite our huge defecit!

I think uk and us right to say to euro leaders sort yourself out.
The uncertainty and lack of decent funds which imf say they not putting up enough to secure the euro or sort out greece then will effect the rest of eurozone and france/belguim/ german banks have huge losses espcailly if spain, portugal, ireland and italy go pear shaped too.

the problem is such different politics in eurzone they have to get all 17 countries to agree.

I gather merkels not too happy with sarkozey herself as hes expecting germany to bail french banks out and wants the essf to act as a bank and germany does not.

I dunno the short little angry french person makes me laugh:rotfl:
Dont see how we significant really.