Brexit, the economy and house prices (Part 3)

System

cogito wrote: »

Context is indeed important. The youth unemployment rate in Italy is 35.2%, in Spain 41%, and in Greece 45%. Young people in those countries are only too happy to be put into context. It's a disgrace.

Context is always good. It's lazy forumonics to try and shut down debate by asking what youth unemployment rates are and getting the answer 18.9%.

I'm glad we were both able to add some context.

cogito wrote: »

And it's interesting that unemployment rates in the eorozone are falling much more slowly than in the membership as a whole. The euro is such a big success, isn't it?

I'm not sure you can fully blame the Euro because, after all, you'll know after digging out those figures that they are at one end of the curve. At the other end there's Germany at 6.6%. There's quite a range.

Perhaps, just maybe, national policies might have a bigger effect on unemployment rates than membership of the Euro? It might be geography - the Eastern European countries seem to be doing better than those in Southern European and therefore Euro effects might just be a correlation rather than causation issue.

I don't know and the Euro is going nowhere soon anyway so I'm just glad to see the data going in the right direction.

A_Medium_Size_Jock

Now the EU have decided they NEED a new 6 million Euro per year "House of Europe" and it's not going down too well:

The EU plans to splash out €6 million a year in rent on a swanky “House of Europe” building in central Paris — and spend almost €12 million doing the place up. The high cost is stirring criticism in the European Parliament at a time when the institution has made significant investments in real estate, partly to expand its facilities and make the EU more visible to citizens.

http://www.politico.eu/article/eu-plans-e6m-a-year-house-of-europe-on-paris-boulevard/

mayonnaise

Euro area international trade in goods surplus
€21.4 bn

http://ec.europa.eu/eurostat/documents/2995521/8109795/6-14072017-AP-EN.pdf/e51a1bb3-e06e-4d84-a7ec-a2c026d82623

Global Europe, running a decent sized surplus with the rest of the world despite being shackled to the ghastly EU.

€4.0 bn surplus for EU28

Not as impressive as the Euro area, but this should improve when the EU28 become EU27.
Britain's 'contribution' to the EU28 surplus documented on page 3 of linked to PDF.

Thrugelmir

mayonnaise wrote: »

Global Europe, running a decent sized surplus with the rest of the world despite being shackled to the ghastly EU.

Europe isn't a country though. Germany might be. Trouble is German companies like US ones are keeping their cash off shore. German infrastructure is creaking and in many instances in very poor condition.

What really matters is tax revenue. That's why Macron is targeting London's Finance industry. Then the EU can impose financial transaction taxes. Though Merkel is appearing reluctant. Guess that's the politics of electioneering. Don't be honest with the electorate.

mayonnaise

Thrugelmir wrote: »

Europe isn't a country though.

Thank you, Captain Obvious, for your contribution to the thread.

cogito

Thrugelmir wrote: »

That's why Macron is targeting London's Finance industry. Then the EU can impose financial transaction taxes.

The only outcome of an EU Financial Transaction Tax would be zero revenue and a massive gift to the City of London.

It could only ever work if every government in the world signed up to it. Sweden's failed experiment with it sums it up nicely.

https://en.m.wikipedia.org/wiki/Swedish_financial_transaction_tax

A_Medium_Size_Jock

mayonnaise wrote: »

Euro area international trade in goods surplus
€21.4 bn
Global Europe, running a decent sized surplus with the rest of the world despite being shackled to the ghastly EU.
Not as impressive as the Euro area, but this should improve when the EU28 become EU27.
Britain's 'contribution' to the EU28 surplus documented on page 3 of linked to PDF.

I wonder what you think of the huge increase in trade to and from Russia despite supposed sanctions following the Crimea/Ukraine debacle?

EU trade deficit with Russia expanded in May to 29.5 billion euros from 18.9 billions the year earlier.

http://www.reuters.com/article/us-global-oil-idUSKBN19Y04I?il=0

Impose sanctions but increase trade?
Small wonder Putin is so confident.
:whistle:

Thrugelmir

mayonnaise wrote: »

Thank you, Captain Obvious, for your contribution to the thread.

I merely pointed out an inaccuracy. :wall:

Rinoa

Oh dear. Everything is not sweetness and light in the EU single market, as Belgium accuse France of undermining it.

http://www.politico.eu/article/belgium-calls-for-eu-help-against-french-gastronationalism/

System

Rinoa wrote: »

Oh dear. Everything is not sweetness and light in the EU single market, as Belgium accuse France of undermining it.

http://www.politico.eu/article/belgium-calls-for-eu-help-against-french-gastronationalism/

Wow! It's disintegrating before our very eyes.