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What is the point of 'rational discussion'?
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Degenerate wrote: »I certainly hope so. The ECB are offering ridiculously cheap cash on the open market. Why should British banks not take advantage? They need to strengthen themselves as much as possible for the fall-out from the Euro crisis. And two of the banks in question are part taxpayer-owned.
Are you suggesting that the banks involved are looking out for the benefit of the countries in which they operate?
How will the UK taxpayers/mortgage payesr benefit from the 'UK' banks' rip-off schemes?
Why should British banks feel the need to 'strengthen themselves' when they are already able to pay zillions of pounds in bonuses to their employees, whilst posting billions of pounds in losses?According to Clapton, I am a totally ignorant idiot.0 -
the anti-greed campaigners
That'll be the bunch of unwashed scroungers who pitched tents at St Pauls, then sneaked home every night?
If they really want to make a protest against "greed", then they should stop signing on and receiving hard working taxpayers money.
They are claiming benefits on the understanding that they are actively seeking work, which is clearly not the case if they are lounging around St Pauls having a bit of a party and downing cheap cider.Nothing is foolproof, as fools are so ingenious!
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The OP wants a "rational" discussion, but it will be impossible to achieve this as he clearly has no clue whatsoever what he is rambling on about, and appears to want to jump to knee jerk assumptions which are way off the mark.
There are over 2,000 Banking institutions in Europe who are able to borrow funds from the ECB. There is absolutely no requirement of need for that institution to be domiciled in a country that is part of the EUR.
British domiciled Banks have huge exposures to Europe and EUR denominated business.
The purpose of the liquidity injection by the ECB is to ease pressures on all Instutions with exposure to EUR denominated business.
It is totally irrational to think that British domiciled Banks should not or would not need these funds.
P.S. In other EUR News 777,000,000,000 EUR was deposited with the ECB over the weekend, a new record :eek:'In nature, there are neither rewards nor punishments - there are Consequences.'0 -
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No, the High Street would be full of consultants offering to help people avoid their liabilities for the populist stupidity tax.It's a pity you can't tax populist stupidity. The deficit would be gone in seconds
Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
Thrugelmir wrote: »Yes, Barclays have said as much. The money borrowed from the ECB has been through subsidiaries in Spain and Portugal where they operate.
I repeat - did Barclays borrow through their Spanish/Portuguese subsidiaries in order to to benefit Spain and Portugal, or otherwise?
TruckerTAccording to Clapton, I am a totally ignorant idiot.0 -
The purpose of the liquidity injection by the ECB is to ease pressures on all Instutions with exposure to EUR denominated business
Why does the money always go to 'the banks'?
The banks are like a !!!!!
give the money to the people, f'chrissake
TruckerTAccording to Clapton, I am a totally ignorant idiot.0 -
tartanterra wrote: »They are claiming benefits
What, all of them? How do you know?
Please remind me - what is the point of rational discussion?
TruckerTAccording to Clapton, I am a totally ignorant idiot.0 -
But the point of the money is to avoid a default.Why does the money always go to 'the banks'?
The banks are like a !!!!!
give the money to the people, f'chrissake
Not much point in imposing austerity as the condition of a loan and then using the loan to mitigate the austerity."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 -
But the point of the money is to avoid a default.
Not much point in imposing austerity as the condition of a loan and then using the loan to mitigate the austerity.
Possibly, that encapsulates the problem quite nicely
The banks are at the centre of all of this, but their motivation is simply 'profit'
In the meantime, entire populations experience a downward spiral in their economic health
The struggle is between 'banks' and 'governments'
There are very small indications of governments beginning to insist that banks should begin to toe some kind of line - let's just hope...
TruckerTAccording to Clapton, I am a totally ignorant idiot.0
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