Spain in state of total emergency

[Doggy Styles]

The main weakness of the Eurosceptic argument is that it's based more on emotion rather than economic reasoning, i.e. not wanting to be dominated by Germany. But what you have to determine, is now that the Euro is in place what is the best way forward. Sure...you can break up the Euro and it will work, but now is not the time to do it.

I think these emotional view points are driven very much by tabloid newspapers.

Which Eurosceptic argument? If you mean whether the common currency was a good idea in the first place, then it's not emotion, just economic judgement.

If you mean whether it should break up, then I don't think anyone can have a confident answer. On the one hand we know that breaking up the Euro would create a bad situation, and nobody knows how bad.

On the other hand continuing with the Euro looks like a bad idea too, perpetuating the inherent problems with it. Even fiscal union is only part of the answer, with so many disparate economies to mould into one. We in England have enough trouble trying to balance the south-east with the north and west. And how long will European nations be happy with such a big loss of sovereignty?

[TimberWolf]

So basically the answer to the alleged problem of binging cheap credit is more even cheap credit?

[Mich the Tester]

So basically the answer to the alleged problem of binging cheap credit is more even cheap credit?

Yes, and printing money.




regards, Bob Mugabe.

[TimberWolf]

I don't suppose Spain has any doctors willing to work for less than £110K/year plus monster pension?

[Mich the Tester]

I don't suppose Spain has any doctors willing to work for less than £110K/year plus monster pension?

Probably. I'm hoping some of their waiters, chefs and shop staff will move to Holland looking for work, then lazy incompetent inbred locals can be replaced with someone who knows that an empty glass of wine on my table means 'please do me a pleasure by filling it and do your boss a pleasure by selling another glass of wine', good quality food doesn't need deep frying or drowning in grotty sauces out of a jar and my presence with a full shopping basket in the vicinity of the till means 'I want to pay and leave'.

[Doggy Styles]

So basically the answer to the alleged problem of binging cheap credit is more even cheap credit?

There are many who believe that to be the lesser of two evils.

As the Irishmen replied when asked for directions: "Well, I wouldn't start from here..."

[BlasterBates]

Just to get this straight:

As a result of the 2008 crisis the US, the UK and a number of other countries (outside the Eurozone) have now huge debts worth more than 80% of their GDP.

Are we to believe that countries such as Italy and so on wouldn't hadn't have had high debt levels had they not been in the Eurozone?

I find this difficult to believe given that historically even before the Euro these countries have always had higher debts than the UK or the US.

If they did have high debts are we also to believe that other European banks wouldn't have leant money to them, even though they were doing so before the advent of the Euro?

[Doggy Styles]

Just to get this straight:

As a result of the 2008 crisis the US, the UK and a number of other countries (outside the Eurozone) have now huge debts worth more than 80% of their GDP.

Are we to believe that countries such as Italy and so on wouldn't hadn't have had high debt levels had they not been in the Eurozone?

I find this difficult to believe given that historically even before the Euro these countries have always had higher debts than the UK or the US.

If they did have high debts are we also to believe that other European banks wouldn't have leant money to them, even though they were doing so before the advent of the Euro?

It is a question of how you manage those debts, or more specifically, what tools you have available to do so.

[BlasterBates]

It is a question of how you manage those debts, or more specifically, what tools you have available to do so.

These countries could leave the Euro tomorrow if they wanted.

I doubt however at this current time that this would necessarily be the best solution either for them or for anyone else.

I alsio doubt that there wouldn't have been severe crisis had there been no Euro, because they'd still be deep in the poo, all the European banks outside their country would have leant to them, and that we would have a severe crisis of countries trying to shore up their banks.

I think it's an illusion to believe it would be any better. I would imagine it would be pretty much the same. Different kind of poo perhaps but nevertheless poo.

As Mich says the Euro is a red herring.

[AtW]

What's the emergency - earthquake, plague, mass riots or something equally serious?