Coming to the UK soon

[Tarquin Farquhar]

...and don't forget Britain will be less devastated by Global Warming than Greece.

I'm seriously not convinced that's true.

[Tarquin Farquhar]

Coming to the UK soon??

http://news.bbc.co.uk/1/hi/world/europe/8494849.stm

Greek Prime Minister George Papandreou has announced tough austerity measures aimed at cutting his country's soaring public debt.
...
"Our country is at the centre of a speculative attack. It is being treated as the weak link of the Eurozone.
...
The prime minister said tough measures were needed in the face of such an "unprecedented crisis", including a 10% cut in wages and spending in the public sector, a higher retirement age and an increase in fuel prices.

Already been here.

For "weak link of the Eurozone" read "weak link of the ERM", 1992.

"Soaring public debt": we can soar with the best of them.

"Tough austerity measures"? Surely needed, but Britain has never in history been tough enough when austerity was needed. Not much chance of starting now with "a 10% cut in wages and spending in the public sector", any government that tries that will be out on its ear. "an increase in fuel prices" OK, but not too much or the roads will be blocked. No, we will shoot any messenger who tries to tell us how bad it really is, so our austerity will have to be brought in by stealth.

[EternalOptimist]

Already been here.

For "weak link of the Eurozone" read "weak link of the ERM", 1992.

"Soaring public debt": we can soar with the best of them.

"Tough austerity measures"? Surely needed, but Britain has never in history been tough enough when austerity was needed. Not much chance of starting now with "a 10% cut in wages and spending in the public sector", any government that tries that will be out on its ear. "an increase in fuel prices" OK, but not too much or the roads will be blocked. No, we will shoot any messenger who tries to tell us how bad it really is, so our austerity will have to be brought in by stealth.

Rubbish. Britain was the first to go into totalwar mode, in WWII. The germans were still producing volkswagen cars in 1943, more concerned with the political impact of guns over butter.

when the time comes, it will happen here again

[AtW]

I don't want to turn into BrilloPad

Please don't, it's a bannable offence apparently ...

[Tarquin Farquhar]

Rubbish. Britain was the first to go into totalwar mode, in WWII. The germans were still producing volkswagen cars in 1943, more concerned with the political impact of guns over butter.

when the time comes, it will happen here again

I almost qualified it with that, but didn't, for brevity.

Britain did go into total war mode, more than Germany ever did which is ironic considering we were a democracy and they weren't. But that's war, not peacetime austerity.

That is exactly what IMHO will not happen again, not without total war mode. When it came to Austerity, we did not accept enough of it (and BTW I do personally remember sweet rationing, so I'm not talking out of the wrong orifice). The Germans did, and rebuilt successfully.

We never have, and IMHO we as a nation are not in any mood to accept it now, so I don't think it will happen.

Not voluntarily. Which means that it will happen involuntarily.

[AtW]

I really fear for those in the UK who have juicy lump sums just waiting for HM Govt to seize for the good of the nation.

No, but they can be massively devalued by inflation due to money printing. In fact this is exactly what is going on now - 0% savings interest (**** *** with those 5 years fixed 5% bond offers) effectively means savings have negative 3-5% interest.

[Tarquin Farquhar]

No, but they can be massively devalued by inflation due to money printing. In fact this is exactly what is going on now - 0% savings interest (**** *** with those 5 years fixed 5% bond offers) effectively means savings have negative 3-5% interest.

That's one of the ways that austerity is imposed by stealth.

[AtW]

That's one of the ways that austerity is imposed by stealth.

shared prosperity

HTH

Gordon B.

[sasguru]

Please don't, it's a bannable offence apparently ...

What happened to Brillo did I miss somefink?

[Xenophon]

What happened to Brillo did I miss somefink?

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