British taxpayers to bail out euro

[TimberWolf]

It's only money, nothing to worry about.

With the UK deficit (national debt increase) currently at almost £ 500,000,000 a day, the ten billion we've been ordered to stump up is a mere three weeks more deficit.

Yes, £10bn is a drop in the ocean when you own a printing press, but the Euro is a bottomless pit.

[HairyArsedBloke]

With the UK deficit (national debt increase)

Oh that is another thing that makes me so

To coin a phrase, there has been a conspiracy of silence from all the political parties regarding this. Yes they say get the deficit down, but the fact that it is cumulative gets little coverage at all. Some of the financial commentators do and it gets the odd mention, nowhere near the importance that it deserves nor does the implications.

"We'll cut the deficit by half in four years", I hear cried. FFS! All that means is that in four years thing will be getting worse at half the rate it is today. Even on those idiotic plans the amounts of cuts exceed anything that has been done before by miles. The amount of cuts that are really needed will scare the merde out of everyone.




Anyway,it's not my problem.


Ya gotta larf

[AtW]

Oh that is another thing that makes me so

To coin a phrase, there has been a conspiracy of silence from all the political parties regarding this. Yes they say get the deficit down, but the fact that it is cumulative gets little coverage at all. Some of the financial commentators do and it gets the odd mention, nowhere near the importance that it deserves nor does the implications.

"We'll cut the deficit by half in four years", I hear cried. FFS! All that means is that in four years thing will be getting worse at half the rate it is today. Even on those idiotic plans the amounts of cuts exceed anything that has been done before by miles. The amount of cuts that are really needed will scare the merde out of everyone.




Anyway,it's not my problem.


Ya gotta larf

So GBP is all right then and EUR is doomed?

[HairyArsedBloke]

So GBP is all right then and EUR is doomed?

Nope, both fracked. Just the relative amouts of frackedness will vary over time.

[Flashman]

British taxpayers ordered to bail out euro - Telegraph

After the oh_so_important uk general election it's good to see our real government at work in Brussels.

The sad thing is if Dave Cameron had given us the eu referendum he promised he'd be looking at having 20 more Conservative MP's and none of this would matter.

[TimberWolf]

Britain rejects Eurozone bailout fund

European Union finance ministers meeting to consider ways to prevent the Greek debt crisis from spreading across Europe have hit a roadblock, with Britain announcing they will refuse to underwrite a bailout fund worth some $60 billion.

EU leaders are worried that financial markets will continue to lack confidence in countries with high deficits.

Officials and diplomats in Brussels hope that a stabilisation mechanism will calm the international markets' fears about default in Europe.

But the loan guarantees are too much for the UK to swallow, and the UK Treasury will have nothing to do with them. Without the UK onboard the package looks pretty thin.

Britain rejects Eurozone bailout fund - ABC News (Australian Broadcasting Corporation)

[The Wikir Man]

And recent events also begs the question whether Brown and Darling should be making multi £billion negotiations and EU decisions.

Until there is a new government, then the current one has to govern.

[HairyArsedBloke]

Market in Asia and electronic trading in the west start in one hour at 10pm London time.

We have a supposed euro 'stabilisation fund' that nobody has a fracking clue what it means and no sign of any sort of government in the UK.


Ya gotta larf.

[TimberWolf]

Market in Asia and electronic trading in the west start in one hour at 10pm London time.

We have a supposed euro 'stabilisation fund' that nobody has a fracking clue what it means and no sign of any sort of government in the UK.


Ya gotta larf.

Next week (starting in an hour [and Australia at 11 p.m BST?]) has all the making of being an interesting week. Glad I'm not holding too much Sterling. Or Euro.

[HairyArsedBloke]

If after all this time and facing the markets the Conservatives could not get any form of agreement with the LibDems the I think that Cameron should say, "Agree before 10pm so we can announce it before the open of the markets, or you can shove it forever".