I've been following this debate about the Euro for well over a year now, as I am waiting to complete on a small house in Spain.
I am no longer convinced that the Eurozone is going to break up. Alth ough the € has gone from £1.10 to £1.25, which is great for me, I don't think it is an economic decision any more but rather a political one.
I watched tonight a programme I had taped where Michael Portillo goes to Greece and all parts of Germany to ask if they want to stay in the Euro and to a man and woman, they did.
You watched a tv show with a biased editorial and everyone interviewed (all to man wanted to remain in the euro) .. wow .. bet you are the type of guy who believes the science supporting global warming .. I can assure you there are plenty of greeks who want out and their sovereignty back .... funny how in a random sample they missed that % of the population .... I'm sure if did a program on it I could get 100% of interviews to show th opposite ... duh
ReplyDeleteCould it be that we're British and therefore different from them , DL ?
ReplyDeleteMaverick, I have to s chastise you. have been watching this thing unfold several times a day for the last 15 months.. I have digested all the info there is. I certainly don't believe in global warming, the same same as I don't agree with a £0.50 minimum pricing policy. How dare you suggest otherwise. The Eurozone is not economic it's political and that's what most people in Britain don't understand!
ReplyDeleteOli, I don't understand how one minute you can say, yes it's better to be part of the British isles where we are robbed of our national resources and the next say that Britain isn't part of the Eurozone, what smug bastards we are. The 2 things don't equate, FFS!
ReplyDeleteOli, further, don't you think that a German is different to a Greek, a Pole is different to a Spaniard, a Latvian is different to a Frenchman? Has there been a war in Europe in the last 65 years
ReplyDeleteThe eurozone has no option but to break up DL. It's an unstable set up and is held together by debt.
ReplyDeleteOnce Greece goes then the rest will follow. Greek euronotes are now going out of circulation as they will soon be worthless so make sure you have no Y prefixes on your notes...
http://hat4uk.wordpress.com/2012/05/18/european-banknotes-the-suddenly-missing-y-chromosome-in-greece-40/
Whatever you pay for your new villa it will be cheaper next year. Although rioting and food/ medicine shortages will be the norm like in Greece. So it will be a difficult environment to live in.
Santander (UK) were downgraded yesterday even though they're alleged to be unaffected by their sister company in Spain. Dark clouds are gathering.
Oh I forgot to add. Europe has been at war in Bosnia, Serbia and Kosovo. And has helped in wars in Iraq, Afghanistan, Libya, Tunisia, Egypt, Malaya, Aden, Cyprus, Falklands, Korea, Kenya, Algeria, Nigeria, Vietnam, Sierra Leone, Rhodesia, South Africa, Indonesia, Israel, etc.....
ReplyDeleteMcGedders, from a non participation point of view it does look unsustainable but there is a determination to hang onto the Euro in the Med countries. I don't know why because a strong Germany is just sucking money out their systems. Spain is actually in a better fiscal position than we are. The problem with the Latin fiscal positions are their black economies. That's why there are very few riots in Spain apart from the cities because most of them that are unemployed officially are actually working for cash.
ReplyDeleteSpain has too much debt to bail out DL. It can't devalue as it has the euro. So will go bankrupt imminently.
ReplyDeleteIt's banks are mostly zombie banks.
It has over 1 million new houses that have never been occupied.
It pays over 6% for it's bonds ( money it needs to borrow to pay the bills) compared to our 1.9%.
House prices will fall a further 35% in the next 12 months.
It needs to find 220billion euros to cover it's interest payments this year.
90% of the banks are out of private hands now and are tanking.
Countries like Bolivia are buying up it's assets at knock down prices.
Apart from that you're fine ;)
http://www.zerohedge.com/news/spain-ultimate-doomsday-presentation
Sorry, that 220 billion euros is required for refinancing rather than interest payments.
ReplyDeleteMcgedders, I think what you say is right. I've paid less than 50% of the price 3 years ago and I have still to complete, I'm waiting for the Euro to drop. I don't think however that Spain is as bad as that, but only time will tell!!!
ReplyDeleteDL . There hasn't been war a major war in Europe since 1945 because the British Empire , the USA and the USSR ground the Germans into the dust , then started a face-off called the Cold War .
ReplyDeleteOur tanks are still (just) parked on Luneburg Heath .
Nothing to do with the EU .
"Oli, I don't understand how one minute you can say, yes it's better to be part of the British isles where we are robbed of our national resources and the next say that Britain isn't part of the Eurozone, what smug bastards we are. The 2 things don't equate, FFS!"
ReplyDeleteI don't really understand your logic .
If you are saying that I don't think Scotland can be an independent country , then you're wrong , I do .
I just think Britain is best .(Until proved otherwise).
Oi, there are some times even I don't understand my logic. I have just put it down to the fact that in some of my more lucid moments, which are few and far between, I may be a genius!
ReplyDelete