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French arrogance over the Euro
Comments
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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.
That would be entirely fair if we weren't being asked to help bail it out.0 -
Given that we're forking out for it, partly, we do have a say, I'd have thought.
But it would be much worse if we were part of it....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 -
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
They borrow against their assets. If they have lots of euro bonds, then they have made many borrowings against those bonds value.0 -
When they talk of changing the EU treaty, then sorry Nicolas, we're going to have our say and veto anything you do to screw us.Faith, hope, charity, these three; but the greatest of these is charity.0
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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.
I presume he does not expect us to help financially then then?
Cameron should of looked dead ahead and said
"Did someone say something"
Looked left and right shrugged his shoulders and walked off humming the "umpa lumpa" music.0 -
Apparently M. Sarkozy said, "M. Cameron missed an ideal opportunity to shut up!".
If the UK is expected to pony up for any deal then the UK Government can and must have a say.
In general I think the free trade aspect of the EU is better than the Socialist negatives but the free trade side certainly isn't worth being bankrupted for!0 -
Sarkoszy is a little Napolean
He was a short @rsed ,power crazed, nut job too!Blessed are the cracked for they are the ones that let in the light
C.R.A.P R.O.L.L.Z. Member #35 Butterfly Brain + OH - Foraging Fixers
Not Buying it 2015!0 -
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.
Ide say ok, so you dont want our advice, well we will keep our money too ! ..We are the second biggest contributor to the EUSSR .0 -
Slightly off topic but does anyone know why the BBC is making the continuing Tory divisions over Europe such a big issue?
Is it news that there are some Tories who would like to see the UK out of the EU and would like to achieve this via a referendum?
Surely the same also applies to Labour too?
Neither coalition party manifesto offered such a referendum except on the transfer of additional powers to Europe so I don't see how having a vote confirming how many Tories hold this view is the most important news event of the week?
I thought the headlines would be about the Turkey earthquake or the EUR bailout but somehow the BBC seems to have its own agenda today.I think....0 -
Company ownership 101: Shareholders own any quoted company, not the board (they are elected by shareholders to run their company) and not the employees.What is the difference between a bank bailout, and a bank recapitalisation?
Recapitalisation means a bank raises money from somewhere to increase the amount of cash it holds 'under the mattress'. A bailout means that money comes from the Government on preferential terms.Why do the banks resist recapitalisation?
Because it 'dilutes' the existing shareholders.
Imagine a bank that is just solvent. It shouldn't make any future profits or losses and has assets worth £50 with 100 shares in issue. Each of those shares are worth 50p of equity each.
Now imagine the Government insists that the bank 'recapitalises' by issuing another 100 shares for which the Government will pay £20.
Now there are 200 shares in issue and the total assets of the bank are £70 so each share is now worth 35p.
The Board has to act in the interests of shareholders by law (called a fiduciary duty I believe). As you can see from the above example, dilution isn't in the interest of existing shareholders so The Board must resist it.Why will British banks not have to seek recapitalisation under the deal which was reported yesterday?
See above for most banks.
In the case of the Nationalised or mostly Nationalised banks there is little point as all of their accounting is a fudge now anyway, again AIUI.0
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