Fatal Nu Liebour mistake - not joining euro while economy was booming

[tay]

I would like to say it's been a pleasure Tay.

And I would like to say I am interested in a thiefs opinion....

[M_B]

All sniping aside, there is a valid question in the article though.

We are going to sell government bonds to raise funds to spend our way out of the recession, but what incentive is there to buy the bonds in a currency that is quickly reducing in value ? Is it because interest rates are going down ? Have they already been sold ?

I'm genuinely interested so would be glad if someone could explain it to me.

[DodgyAgent]

All sniping aside, there is a valid question in the article though.

We are going to sell government bonds to raise funds to spend our way out of the recession, but what incentive is there to buy the bonds in a currency that is quickly reducing in value ? Is it because interest rates are going down ? Have they already been sold ?

I'm genuinely interested so would be glad if someone could explain it to me.

The question is a very good one. I believe that the economy has been grossly mismanaged and that the chickens are coming home to roost. By sticking with Sterling we may indeed have made the wrong decisions, but at least this will be exposed as the value of the £ falls, and that if no one buys the bonds and that the country falls apart we will at least know who is responsible and why, and therefore make the necessary changes.

Hiding our economy within the great realm of the EU means that there are no lines of responsibility and no route to make changes when things go wrong.

And whilst we may eulogise about Germany and the Euro, it is only this year that Germany has started to come out of the doldrums of 20 years of stagnation and high unemployment and that is about the BEST performing large EU country.

No one is going to tell me that a central european bank that is answerable to non democratic bureaucrats few of who are interested in wjhat happens to the UK, are going to make better decisions than the fools we already have.

Fools our government may be, but at least they are OUR fools.

[Doggy Styles]

All sniping aside, there is a valid question in the article though.

We are going to sell government bonds to raise funds to spend our way out of the recession, but what incentive is there to buy the bonds in a currency that is quickly reducing in value ? Is it because interest rates are going down ? Have they already been sold ?

I'm genuinely interested so would be glad if someone could explain it to me.

Won't buyers of government bonds be betting on Gordon Brown and his incompetent troops being gone in five years time?

Which means, if Labour win the next election, it's IMF here we come.

[DodgyAgent]

Won't buyers of government bonds be betting on Gordon Brown and his incompetent troops being gone in five years time?

Which means, if Labour win the next election, it's IMF here we come.

Wouldnt that be a fantastic irony?

[Doggy Styles]

....... Fools our government may be, but at least they are OUR fools.

Our destiny is in our own hands.

Also, smaller economies can adapt quicker. We're no Switzerland or Norway, but we are still smaller than the EU which will give us an advantage when the recovery starts.

[darmstadt]

Oh really? I think this quote says it all:
"Well, German is the dominant natively spoken language in the EU, and that alone ought to be a reason for it to be given higher status in the school curricula of EU states"

They've taken our pounds and inches, are we going to give up our language so easily?

Germany, Switzerland and Austria. Probably more natives than the UK, should explain that

And what language would that be? A mish mash of European and other languages. As it is, most (younger) Germans probably speak better English than their English counterparts because they learn it in school allowing them to integrate better with other countries where English is also a secondary language. If other European languages were taught in British schools as forcefully as English is taught in European schools then there wouldn't be this British fear of Europe. The English language as such is already gone, when I visit the UK I am astounded by the way people now talk but you can blame the MTV culture that now prevails for that.

As 'lbs' and 'in', a bit archaic really, I presume you miss the times of sixpences, threepenny bits, shillings and guineas?

[M_B]

So if we don't sell the bonds (have we sold them or made them available yet ?), will we then be officially bankrupt or will it mean the government will be unable to undertake its spending plans ?

Economics was never my strong point.

[DodgyAgent]

So if we don't sell the bonds (have we sold them or made them available yet ?), will we then be officially bankrupt or will it mean the government will be unable to undertake its spending plans ?

Economics was never my strong point.

You should be running the treasury then

[BlasterBates]

What about resurrecting the argument about sausages. The funny thing about that nationwide row about British sausages, was that the source of it was comedy sketch in "Yes Minister" . Sums up the facile way Europe is argued about in the UK.