Britain and the EU

listen to what everyone says, do your own research, then make up your own mind .... and don't always believe everything that you read in your local newspaper or local TV news network

 

The Americans seem to have forgotten the mess they got us all into not so long ago, they need to get their own house in order before they start attacking ours.

Personally I have never agreed with the EU or the Euro and believe we can survive without it, we did before it evolved. Yes, we may have to re-build our our country and that will take time, but GREAT Britain has done it before and I think it can do so again.

We need to take back self rule, before the EU completely destroys what our country is about!

 

Shiney - its not Max Keiser's opinions that concern me. Its the facts that he produces, which can invariably be checked with other sources.

I think the position is very very scary. And we, as a major financial centre, probably have as much or more to fear than anyone else.

Any decisions made about the Eurozone don't, of course, solve anything - they are purely political. The real problem is the level of debt that cannot be paid back and that has not been addressed. That can only be solved by default, bankruptcy, and/or by a painful process of repayment that could last for many many years. The prefered solution is inflation, which is why everyone wants the ECB to intervene and print money. But all of these are likely to throw the world into a major recession/depression.

 

Just one thought.
Is this new treaty likely to solve the Euro crisis?

I'm tending to think not.
Its a bit like shoring up an old building, every time you sort one bit out the next bit falls off.
I say demolish the Euro and pick up the pieces.
At least we would all know where we stand then.

I see this new treaty as a way of France and Germany gaining complete control over Europe.
No other countries seem to be involved in the planning of this.

All I can say is watchout France, you will always be the junior partner.

Germany appears to be achieving what they failed to do in two wars

 

UK Inflation was 5% CPI/5.4% RPI in October, but Eurozone inflation these days is consistently lower than ours.

So 5 or more percent inflation is OK for the UK, but unacceptable for the Eurozone?

 

Not being an economist myself, Scrungee,could you explain to me. If you are right, why is Britains triple A credit rating ensured when 15 other EU countries, including France, Germany and the Netherlands are at risk of having their ratings downgraded? The Plum in the Franco/German fiscal unity treaty was the money rich City of London. Why should we put in any more money to rescue a currency which should never have even seen the light of day.:D

 

just chipping in .... but perhaps because the UK still have their money printing presses and can print money 'Zimbabwe style' ...

all other EU countries who use the Euro have to borrow it and pay interest?

 

As far as I am aware, we borrow funds and pay interest also.

 

thats how it's supposed to work .... but does it?

why did we reject the Euro currency?

 

I'm not sure a former 'O' level maths failure (unclassified) should be entering this debate ... . However, surely it's been a deliberate policy on our part for some years to increase liquidity (a process otherwise described by that wonderful expression 'quantitative easing', which always makes me think of Exlax). Effectively we've used the only weapon we have - to devalue the pound so that our goods are cheaper abroad. The Eurozone is tied and can't do the same - although there are many people who think the Greeks would be better off with a low-value drachma.

 

Basically, because we knew it was a non starter. How could the EU start up a currency when there were economies as weak as the likes of Greece and the Eastern European countries? They were bound to drag the stronger currencies down.

 

Hi folks.

Reading some of the comments, it appears that a little jingoism is creeping in. I think that before we gloat too hard, we should be aware that ultimately (imo), there will be a price to pay for our non-participation. I won't pretend to understand finance at this level, but if we thought things were bad now, I think they could soon get a whole lot worse, given our trade with the EU.
Having said that, I don't think joining in would have helped our position much either.
The way I see it, either way, we're 'treetreed' :runhills:

 

that sounds good on paper, yet manufacturing costs are so high, that many manufacturing companies have and are closing down (car industry is just but one example)

it's so bad now, that even call centres are being shut and re-opened in far away countries .... phone a call centre such as your bank, and you will most likely be speaking to someone in Deepest Bombay with a thick heavy accent

I am a mechanical design engineer by trade .... no work around here for guys like me, and if we do find work in this field, we will earn more money working as a 'trolly dolly' on a train

Even in South Africa, many design offices now subcontract the work to India as labour rates are much lower, and with the advent of computers, drawings are sent electronically within seconds

and there is too much competition from the Chinese, and they are the ones smiling .... they are even buying prime properties in the USA and slowy doing the same in the UK

looking at Cambridge, there has been a huge influx of Chinese students at universities over the past 11 years I have lived here .... they have the money and keep the high street retailers smiling .... there are young Chinese students (not even 20 years old) in Cambridge driving around with very expensive brand new Nissan and BMW sports cars ....

I cannot even afford the insurance they pay

 

I agree Fred, we need to start growing more food and look for other trading partners PDQ, because Napolean Sarcozy is not happy with us.:D