Originally posted by woohoo
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Spain’s Long Economic Nightmare Is Finally Over
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His heart is in the right place - shame we can't say the same about his brain... -
Originally posted by Mordac View PostAnd the fact they don't have much say in Eurozone policy because they're not Germany.
Talking about EU policy and enacting it are two different things. Even still when an individual member doesn't like all the t and i's, they just ignore it, like Italy. Or if the like the UK they send in Cameron to sell our vetos in exchange for favours and then throw our toys out the pram when the bet did not work."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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Before the Euro, countries such as Italy, Spain and Portugal issued debt in DM's and pegged their currency to the DM so they had less control of interest rates than they do now, where the ECB not only has a member of the Spanish bank on the rate setting committee, they take account of the state of all countries such as Portugal, Spain, and Italy which combined have more influence than Germany. For this reason these countries are fully committed to the Euro.
Anyone who thinks countries outside the Eurozone have control of interest rates should check out countries outside the Eurozone, and you will see they're forced to jack up and put down their interest rate in line with the Euro.Last edited by BlasterBates; 30 July 2017, 10:17.I'm alright JackComment
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Originally posted by scooterscot View PostSpain's economy grows three times as fast as the UK.
"The Spanish government has raised its forecasts for economic growth this year and now expects the economy to grow by at least 3% in 2017"
Where are all the EU doomsters?
source: https://www.nytimes.com/2017/07/28/b...mployment.htmlComment
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Originally posted by tiggat View PostAusterity obviously works! 10 years of results!
For £214k this: 4 bedroom country house for sale - Spain - Galicia, A Coruña, Pontedeume
Garden 5.000 sq m landscaped + fruit trees
Or this little beauty for £210k: 4 bedroom flat for sale Eastney Road, Southsea, Hampshire
When the UK property bubble bursts it'll be carnage. You're beyond bonkers if you don't think this graph will correct.
"Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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I think it's inevitable that the euro will fail.
I'm not entirely sure what you can do to stop it, could you realistically centralise control of economies to Brussels? I don't mean setting rules about deficits which are never enforced I'm talking about the economies of the EU being fully controlled in one place, probably by the Germans.
I just can't see that happening and that worries me because I'm not sure what will happen if the Euro and then the EU fails.
How can the EU/Euro be fixed, realistically?Comment
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What is a euro failure exactly? Explain what you think will happen."Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark TwainComment
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Originally posted by scooterscot View PostWhat is a euro failure exactly? Explain what you think will happen.
Italy, Portugal, Spain etc. between them owe around 1 trillion euros in loans.
The amount of money put into the EU to keep the Euro afloat is staggering. On top of that wages in most countries have been cut in an attempt to increase competitiveness. So living standards have decreased for many, this is not a success.
On top of that individual countries are managing their economies and ignoring rules and the consequences of their actions. A bailout is just around the corner because the Euro can't afford a Spain or Italy to fail.
I think it's faith and propaganda holding the Euro in together.
I don't know what will happen if the Euro and the Eu fails. I imagine that Germany will forge alliances with countries near it, the DM would be reintroduced etc.Comment
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Originally posted by woohoo View Post
Italy, Portugal, Spain etc. between them owe around 1 trillion euros in loans.“Brexit is having a wee in the middle of the room at a house party because nobody is talking to you, and then complaining about the smell.”Comment
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Originally posted by darmstadt View PostHow much does the UK, which is pegged to a single currency, owe?First Law of Contracting: Only the strong surviveComment
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