Explainer: Santander grew under strict reserves regime

[HairyArsedBloke]

ATW could get laid this weekend

On second thoughts, he is being naughty so I might not.

[TimberWolf]

So which countries are going to be hit the hardest by the banking crisis/credit squeeze, etc? Are we worse placed than most, average, or as Gormless says?

[AtW]

Are we worse placed than most

Yes. Next!

[TimberWolf]

Yes. Next!

Fancy creating a league table? Also of those countries that might clean up?

[AtW]

Fancy creating a league table?

I am pretty sure almost every state in Europe will be better off than UK.

The Germans will still be making Porsches and Mercedes.

The French will still be making fast trains, nuclear reactors, wines.

The Swiss will be making cheese, chocolates, cookoo clocks and also taking dodgy cash from dodgy people all around the world.

The Spanish will still have nice houses with pools and great climate.

The Italians will still be making tanks with 5 rear gears.

The UK will be bottom of the league - I am pretty sure Ireland will be less affected actually.

[TimberWolf]

I suppose we are open to a double whammy, the crisis itself and that some of our wealth comes from profiting from dodgy practises?

[AtW]

I suppose we are open to a double whammy, the crisis itself and that some of our wealth comes from profiting from dodgy practises?

I think fundamentally this country made strategic mistake when it decimated its industry (and this is in the country which started industrial revolution) while France and Germany managed to hold on their own.

Speculators in the City have zero loyalty and will go to any other country if it profits them personally, it was insane to rely on them for any serious income.

If UK was in eurozone it would have helped I think, but right now it is on its own really and the Govt is probably the worst from possible.

So sorry to say that but I think the UK is ****** in more than one way.

[Cyberman]

I think fundamentally this country made strategic mistake when it decimated its industry (and this is in the country which started industrial revolution) while France and Germany managed to hold on their own.

Speculators in the City have zero loyalty and will go to any other country if it profits them personally, it was insane to rely on them for any serious income.

If UK was in eurozone it would have helped I think, but right now it is on its own really and the Govt is probably the worst from possible.

So sorry to say that but I think the UK is ****** in more than one way.

Our industry was decimated by our unions by making us uncompetitive and by invoking constant strikes in the 70's for ridiculous wage demands.

At least because we are not in the Euro, we will not be called upon to bail out the banks of those countries that are in the Euro. That is just one by-product of the pound that I am grateful for.

Many banks are also failing in the Eurozone(French, German and Spanish in particular) but the ECB has been sensible in allowing anonymity, which HMG in its wisdom last year said that we should not and thus brought down the Rock!!! Of course it later changed its policy to a degree.

[AtW]

Our industry was decimated by our unions by making us uncompetitive and by invoking constant strikes in the 70's for ridiculous wage demands.

And unions don't strike in France or Germany?

It was good to curb the unions (especially in public sector) but wholesale destruction of industry was totally insane.

I think UK was pretty far ahead in nuclear R&D in the past, yet now it has to use the French to do the stuff.

[Cyberman]

And unions don't strike in France or Germany?

It was good to curb the unions (especially in public sector) but wholesale destruction of industry was totally insane.

I think UK was pretty far ahead in nuclear R&D in the past, yet now it has to use the French to do the stuff.

They certainly do, but they do not ask for 27% pay rises, and do not insist on reinstating workers caught drunk or sleeping on the job.... remember the night shift at British Leyland caught in their sleeping bags!!! We also had wildcat strikes and intimidation of those that wanted to work, that were only rectified in the 80s by Thatcher and her policy/law of secret ballots. Unfortunately the union reforms came in too late to save our industry.

Britain was a total mess in the 70s and now we're heading back to it under the same party!!!!