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Spain in state of total emergency

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  • DodgyAgent
    replied
    Originally posted by BlasterBates View Post
    UK's debt levels are higher than Spain and their budget deficit (have you understood this yet??) is the 3rd worse in the EU i.e. 10% of GDP. UK debt is 80% of GDP.

    So do your sums:

    2012 80% + 10% = 90%
    2013 90% + 10% = 100%
    2014 100% + 10% = 110%
    2015 110% + 10% = 120% ....pow....you're in a mess.

    Comprendo? (thought not).

    Currently the deficit hasn't been cut. Not yet...
    Once again you completely fail to see the point.

    The UK deficit is there because we stupidly enough indulged ourselves with a socialist government who borrowed and squandered vast amounts of money in order to pay huge numbers of people to work in pointless jobs or not work at all. The whole point is that by not being in the Euro we can now readjust our currency to stimulate growth in order to pay back our borrowings. So although the UK may be heavily in debt the lending markets are confident that the UK can pay back its borrowings. Not so with Spain, Italy and Greece

    Leave a comment:


  • sasguru
    replied
    Originally posted by BlasterBates View Post
    UK's debt levels are higher than Spain and their budget deficit (have you understood this yet??) is the 3rd worse in the EU i.e. 10% of GDP. UK debt is 80% of GDP.

    So do your sums:

    2012 80% + 10% = 90%
    2013 90% + 10% = 100%
    2014 100% + 10% = 110%
    2015 110% + 10% = 120% ....pow....you're in a mess.

    Comprendo? (thought not).

    Currently the deficit hasn't been cut. Not yet...

    That's not how it works, you complete plonker
    You do realise the UK and many other countries have been running deficits for decades? If you calculation was right our debt would be something round the 10000% mark.

    You are good for a laff though.
    What do you do for a living, do tell?

    Leave a comment:


  • BlasterBates
    replied
    Originally posted by sasguru View Post
    You clearly don't.
    So what does it mean?
    Yesterday you seemed to think that it meant a rising GDP/debt ratio - and since some countries have run deficits for decades you'd expect them to be indebted up to their eyeballs.
    But they're not.

    Cretin.
    UK's debt levels are higher than Spain and their budget deficit (have you understood this yet??) is the 3rd worse in the EU i.e. 10% of GDP. UK debt is 80% of GDP.

    So do your sums:

    2012 80% + 10% = 90%
    2013 90% + 10% = 100%
    2014 100% + 10% = 110%
    2015 110% + 10% = 120% ....pow....you're in a mess.

    Comprendo? (thought not).

    Currently the deficit hasn't been cut. Not yet...

    Leave a comment:


  • sasguru
    replied
    [QUOTE=BlasterBates;1553749
    Comprendo....(doubt it).[/QUOTE]

    You clearly don't.
    So what does it mean?
    Yesterday you seemed to think that it meant a rising GDP/debt ratio - and since some countries have run deficits for decades you'd expect them to be indebted up to their eyeballs.
    But they're not.

    Cretin.

    Leave a comment:


  • BlasterBates
    replied
    Originally posted by sasguru View Post
    Before you bandy the word "deficit" around you should understand what it means.
    Your low-level junior role should offer plenty of time for research if your intellect is up to to it, which I doubt.
    UK has third biggest budget deficit in Europe - Telegraph

    Comprendo....(doubt it).

    Leave a comment:


  • sasguru
    replied
    Originally posted by BlasterBates View Post
    So why has floating exchange rates not prevented excessive borrowing in the UK. Currently the second worse deficit after Greece.
    Before you bandy the word "deficit" around you should understand what it means.
    Your low-level junior role should offer plenty of time for research if your intellect is up to to it, which I doubt.

    Leave a comment:


  • oscarose
    replied
    Originally posted by BlasterBates View Post
    If it truly was a Euro problem the inevitable would be a breakup of the Euro. This will not happen because it isn't a currency crisis (hyperinflation etc etc) it's a debt crisis fuelled by the Euro.
    ftfy

    Leave a comment:


  • BlasterBates
    replied
    Originally posted by DodgyAgent View Post
    You have utterly and completely missed the point. You seem to see the success of the Euro through the prism of exchange rates without showing any understanding of the fundamental problems of the EU's economy. The Euro was strong because of Germany holding its value up (or should that be Estonia?). The point which you cannot grasp is that the Euro and the £ are able to fluctuate according to the strengths of the respective countries economies. In Greece, Spain and Italy they should have had currencies that would have fallen in order to stimulate growth and put a stop to excessive borrowing.

    I suggest you Google "Janet & John learn economics" and buy it
    So why has floating exchange rates not prevented excessive borrowing in the UK. Currently the second worse deficit after Greece.

    What's that saying, "people in burning houses shouldn't pour oil ...."

    Leave a comment:


  • DodgyAgent
    replied
    Originally posted by BlasterBates View Post
    In 2008 it was 1.5 Euro to the £ now it's 1.25

    That's a real melt down isn't it.




    I wonder if the Scots will still be holding English pounds in their hand in 5-10 years time.
    You have utterly and completely missed the point. You seem to see the success of the Euro through the prism of exchange rates without showing any understanding of the fundamental problems of the EU's economy. The Euro was strong because of Germany holding its value up (or should that be Estonia?). The point which you cannot grasp is that the Euro and the £ are able to fluctuate according to the strengths of the respective countries economies. In Greece, Spain and Italy they should have had currencies that would have fallen in order to stimulate growth and put a stop to excessive borrowing.

    I suggest you Google "Janet & John learn economics" and buy it

    Leave a comment:


  • sasguru
    replied
    Originally posted by BlasterBates View Post
    In 2008 it was 1.5 Euro to the £ now it's 1.25

    That's a real melt down isn't it.




    I wonder if the Scots will still be holding English pounds in their hand in 5-10 years time.
    The depth of your stupidity is truly astounding.
    I'm curious about what you do for a living, can't be anything senior or anything requiring a brain..

    Leave a comment:

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