They've tried the Euro, it didn't work out, they need a strategy to cope with that... Simples!
Heard an economist on the radio a couple of weeks ago saying Greece would have to leave the Euro, followed by Italy, Spain, Portugal and Ireland. No question in his mind. What I don't understand is why the politicians are so keen on stopping the inevitable - surely allowing this farce to continue is just costing us all more money?
Can I just say once and for all that 99% of people who work in Banks do NOT get big bonuses and in most cases do not get a bonus at all. Please stop tarring us all with the same brush.
I'm sure that many people in the retail banking sector are not getting bonus as you say Large but others in the investment arms are still getting paid out £billions worth every year. Someone's picking up that dough though.
Fair point I suppose as I get fed up with everyone lumping the public sector in together as in the current pension dispute.
Perhaps we could come up with a name for those in the banking sector who were responsible and still picking up a tidy bonus too?
I think we have already come up with a name for them - Some people were more responsible than others- can anybody name one of them? How many are in prison? If you can't answer those questions, shouldn't you be asking why not?
They've tried the Euro, it didn't work out, they need a strategy to cope with that... Simples!
Heard an economist on the radio a couple of weeks ago saying Greece would have to leave the Euro, followed by Italy, Spain, Portugal and Ireland. No question in his mind. What I don't understand is why the politicians are so keen on stopping the inevitable - surely allowing this farce to continue is just costing us all more money?
The EU is a political project which hides behind the veil of a beneficial economic trading area.
In pure economic terms (as BFR, surprisingly, effectively stated higher up the thread) the Euro was always illogical and foolhardy as the economic requirements in one country are so wildly different to another and even areas within individual countries.
However politically the EU mantra is "ever closer union" as epitomised by "acquis communautaire" which, simplistically, means that once the EU has powers it keeps them permanently. (As an aside Cameron's bollocks about trying to repatriate powers from the EU is meaningless froth for this reason). A single currency is an essential plank of this political construct and that is why egotistical politicians who are committed to the ideology of the "European Project" and, more relevantly, stand to gain gold plated EU pensions as long as the EU continues are so reluctant to acknowledge the reality of the failure of the Euro.
Hubris outweighs representing the people every time when it comes to the political classes!
In reality the only way is out for the UK but the LIBLABCON don't want that.
Greece's prime minister has abandoned his explosive plan to put a European rescue deal to a referendum.
George Papandreou opened emergency talks with his opponents, who performed a U-turn and agreed to broad austerity measures in exchange for a European bailout.
Mr Papandreou ignored widespread calls for his resignation and instead invited the opposition to join negotiations on the bailout. He told an emergency Cabinet meeting that early elections would force Greece into leaving the euro, with disastrous effects for both Greece and other European economies.
Mr Papandreou sparked a global crisis on Monday when he announced he would put the latest European deal to cut Greece's massive debts - an accord that took months of negotiations - to a referendum. The idea horrified other EU nations and Greece's creditors, triggering turmoil in financial markets as investors fretted over the prospect of Greece being forced into a disorderly default.
Two officials close to Mr Papandreou said that the referendum idea has now been scrapped, after the debt deal won support from the opposition.
Mr Papandreou spoke to conservative opposition leader Antonis Samaras in the afternoon, his office said, before a major address to his Socialist party deputies in parliament.
Speaking to his ministers, Mr Papandreou said his proposal to hold a referendum "has at least brought many people toward a rational view" of Greece's dire economic situation. Several Greek MPs had called for a coalition unity government to approve the bailout package without a referendum, but Mr Papandreou said stepping down would make things worse.
"Elections as a solution, today and at this moment, would mean a much greater danger of bankruptcy and of course exit from the euro," he said.
The drama in Greece sent immediate ripples throughout Europe. Premier Silvio Berlusconi's government in Italy was teetering as well after it failed to come up with a credible plan to deal with its dangerously high debts, and Portugal demanded more flexible terms for its own bailout.
Opposition leader Mr Samaras later called on the PM to resign and led his party in a dramatic walkout during a parliamentary debate about the viability of the government. He did not indicate whether he would vote in favour of the debt deal when it comes before parliament, but he stressed that he had said from the start that the latest agreement
Comments
They've tried the Euro, it didn't work out, they need a strategy to cope with that... Simples!
Heard an economist on the radio a couple of weeks ago saying Greece would have to leave the Euro, followed by Italy, Spain, Portugal and Ireland. No question in his mind. What I don't understand is why the politicians are so keen on stopping the inevitable - surely allowing this farce to continue is just costing us all more money?
I'm sure that many people in the retail banking sector are not getting bonus as you say Large but others in the investment arms are still getting paid out £billions worth every year. Someone's picking up that dough though.
Fair point I suppose as I get fed up with everyone lumping the public sector in together as in the current pension dispute.
Perhaps we could come up with a name for those in the banking sector who were responsible and still picking up a tidy bonus too?
A Lombard.
LoadsOfMoneyButARealDick
The EU is a political project which hides behind the veil of a beneficial economic trading area.
In pure economic terms (as BFR, surprisingly, effectively stated higher up the thread) the Euro was always illogical and foolhardy as the economic requirements in one country are so wildly different to another and even areas within individual countries.
However politically the EU mantra is "ever closer union" as epitomised by "acquis communautaire" which, simplistically, means that once the EU has powers it keeps them permanently. (As an aside Cameron's bollocks about trying to repatriate powers from the EU is meaningless froth for this reason). A single currency is an essential plank of this political construct and that is why egotistical politicians who are committed to the ideology of the "European Project" and, more relevantly, stand to gain gold plated EU pensions as long as the EU continues are so reluctant to acknowledge the reality of the failure of the Euro.
Hubris outweighs representing the people every time when it comes to the political classes!
In reality the only way is out for the UK but the LIBLABCON don't want that.
Greece's prime minister has abandoned his explosive plan to put
a European rescue deal to a referendum.
George Papandreou opened emergency talks with his opponents,
who performed a U-turn and agreed to broad austerity measures in exchange for a
European bailout.
Mr Papandreou ignored widespread calls for his resignation and
instead invited the opposition to join negotiations on the bailout. He told an
emergency Cabinet meeting that early elections would force Greece into leaving
the euro, with disastrous effects for both Greece and other European
economies.
Mr Papandreou sparked a global crisis on Monday when he
announced he would put the latest European deal to cut Greece's massive debts -
an accord that took months of negotiations - to a referendum. The idea horrified
other EU nations and Greece's creditors, triggering turmoil in financial markets
as investors fretted over the prospect of Greece being forced into a disorderly
default.
Two officials close to Mr Papandreou said that the referendum
idea has now been scrapped, after the debt deal won support from the
opposition.
Mr Papandreou spoke to conservative opposition leader Antonis
Samaras in the afternoon, his office said, before a major address to his
Socialist party deputies in parliament.
Speaking to his ministers, Mr Papandreou said his proposal to
hold a referendum "has at least brought many people toward a rational view" of
Greece's dire economic situation. Several Greek MPs had called for a coalition
unity government to approve the bailout package without a referendum, but Mr
Papandreou said stepping down would make things worse.
"Elections as a solution, today and at this moment, would mean
a much greater danger of bankruptcy and of course exit from the euro," he
said.
The drama in Greece sent immediate ripples throughout Europe.
Premier Silvio Berlusconi's government in Italy was teetering as well after it
failed to come up with a credible plan to deal with its dangerously high debts,
and Portugal demanded more flexible terms for its own bailout.
Opposition leader Mr Samaras later called on the PM to resign
and led his party in a dramatic walkout during a parliamentary debate about the
viability of the government. He did not indicate whether he would vote in favour
of the debt deal when it comes before parliament, but he stressed that he had
said from the start that the latest agreement
Wish our MP's looked like this.