What now? EU

Graham_Devon

I thought this summit was going to be the end game? Yet once again it seems they have failed to come up with anything, and things just carry on?

Have I missed something? Or was this just another one of the end games....and we'll face another next week?

gagahouse

Mrs_Bones wrote: »

I like the quote above.

Just because we don't want to all drown on the same ship doesn't make us isolated. If they want to go alone, let them, but can they also agree to sort out their own mess and not keep coming to us and ever tom, !!!!!! and china to help bail them out with money.

This fiscal union should have been sorted when the Euro was born, it's trying to shut the stable door now after the horse has bolted. It will not solve the debt / money problems, restore growth or help with unemployment. If countries can not devalue and compete then they are still heading for that iceberg.

As to us needing EU more than they need us, where this this myth originate from? They export more to us then we to them, we are one of the largest contributes money wise and don't get back what we put in the pot in equal measure. There is a whole big wide world to trade with and Europe business will not want to stop selling to us, so they won't stop buying from us. Business is business, it will probably work better if the politicians keep out their nose out of it.

Those worried about the UK leaving the EU should look to countries like Norway and Switzerland which seem to manage just fine outside the Euro while their largest trading partner is the EU.

Really2

Graham_Devon wrote: »

I thought this summit was going to be the end game? Yet once again it seems they have failed to come up with anything, and things just carry on?

Have I missed something? Or was this just another one of the end games....and we'll face another next week?

Well it was an end game for some. We said up yours, you aint getting any more of our money to pay for your cockups.
Euroland think they only need "outsiders" for cash, they are about to find out if they are right or wrong. I suspect it will be the latter.
Why are the Euro countries surprised a country who does not share their currency does not want to penalise itself to pay for their problems?

The_White_Horse

i don't know why they just won't face the fact that they will never get the 27 or 17 countries to agree to Germany dictacting their fiscal policy (for the benefit of Germany). It ain't gonna happen.

Ok, the French have already surrendered to Germany, but other countries won't.

They need to give it up OR

Let the UK control the EU completely.

Graham_Devon

Really2 wrote: »

Well it was an end game for some. We said up yours, you aint getting any more of our money to pay for your cockups.
Euroland think they only need "outsiders" for cash, they are about to find out if they are right or wrong. I suspect it will be the latter.
Why are the Euro countries surprised a country who does not share their currency does not want to penalise itself to pay for their problems?

I just find it weird. I was watching newsnight last night and apparently if they didn't get what they wanted to get (can't remember exactly, I'm bored of the Euro) then the markets could really punish them. Ratings agencies would downgrade them etc etc, so could be the "end game" for the euro.

Again, they all talk, but fail to do anything, ratins agencies do indeed downgrade French banks but thats it, none of the other ratings downgrades that were "promised" if something didn't get done actually happen, and the markets just shrug it off.

I'm not complaining, I can't be bothered watching my shares slide again, however, what's with all this "end of the world" scenario every time they meet....as every time they fail and nothing happens. All that happens is every time they meet, the problem is worse, with larger debts and larger issues.

How long will this all go on for? It's really tedious now!!! I bet this is still goign on in 2013.

kabayiri

Graham_Devon wrote: »

I thought this summit was going to be the end game? Yet once again it seems they have failed to come up with anything, and things just carry on?

Have I missed something? Or was this just another one of the end games....and we'll face another next week?

Let me see. Euro crisis and it's handling now.

PROS :
- they have to be seen to be doing something
- German bean counters are probably more exacting than their South European colleagues

CONS :
- it is all coming a bit late and has an air of panic about it
- nation state rivalries will still find a way of upsetting the new regime
- the Euro had intrinsic design flaws which didn't properly cater for managed exit out of the scheme, or 2 speed economies within it
- the European Parliament have a history of not balancing their budget, never mind anyone elses.

(I'm probably light on CONS!)

The_White_Horse

perhaps the markets have an inbuilt ennui to the euro nowadays.

The_White_Horse

i also find it amazing that merkel and sarkozy are all over this like a rash, but herman van rompuay (or whatever) is almost silent. you would expect the president of the EU (or whatever he is president of) to take some kind of lead.

useless. from top to bottom.

sheffield_lad

The city and the UK are far stronger this morning, do you not think SARK and MERC didn't want Paris or Frank to have the influence London has?

Look at the biggest financial cites

1. London

2. New York City

3. Hong Kong

4. Singapore

5. Shanghai

6. Tokyo

7. Chicago

8. Zurich

9. San Francisco

10. Toronto

Can you spot who are missing from that list? Frankfurt and Paris, yet if you looked back in 2008 they were there, this should give the lefties some idea of the reasons why they were both in favor of a tobin tax. Whats the problem with a tax when it does not effect you as a nation? Exactly the reason we needed to protect it CITY=8% GDP

julieq

As I understand the outcome of this week's drama, we're now in the Europa league but we'll probably take it reasonably seriously