Spain in state of total emergency

[DodgyAgent]

So how did Hungary, Iceland, the UK, and the US end up the sh*t then?

and why are Estonia, Finland, Slovakia, Malta, countries which are completely different to Germany not in the sh*t then?

The key difference is that the UK, Hungary and the USA are now in a position to do something about their situations. The Euro has removed all corrective options from its member states. And as for the other states they are too small and insignificant to matter but have probably had the intelligence to copy Germany.

[BlasterBates]

I would read this which puts everything in perspective:

Why Greece won't leave the euro – Telegraph Blogs

Greece will stay in the Euro and it will recover.

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.

If Greece does stay in the Euro and it recovers this will prove it.

[DodgyAgent]

I would read this which puts everything in perspective:

Why Greece won't leave the euro – Telegraph Blogs

Greece will stay in the Euro and it will recover.

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.

If Greece does stay in the Euro and it recovers this will prove it.

He explains the problems of leaving the Euro but offers no idea of what the future will be like if they remain in it. The real point here is that they should never have been allowed into the Euro in the first place. They have not a hope in hell of repaying their debts, they have no manufacturing and they cannot create anything that will compete on foreign or sovereign markets. Staying in the Euro will simply mean that they have years of and years of paying off their debts. a position that they would never have been allowed to get into had they stayed with the Drachma.

Give us one example or idea as to how they are going to recover other than by being baled out. Baling out will only mean them borrowing more and asking for more bale outs. The only way they can remain in the Euro is if the surrender their sovereignty to the Germans.

[BlasterBates]

He explains the problems of leaving the Euro but offers no idea of what the future will be like if they remain in it. The real point here is that they should never have been allowed into the Euro in the first place. They have not a hope in hell of repaying their debts, they have no manufacturing and they cannot create anything that will compete on foreign or sovereign markets. Staying in the Euro will simply mean that they have years of and years of paying off their debts. a position that they would never have been allowed to get into had they stayed with the Drachma.

The 59% of the population must be doing something and lot of public sector workers have now been thrown out of their jobs.

Countries such as Estonia who were satellite countries of the Soviet Union had absolutely no manufacturing of value really, and look at them now....and yes they're in the Euro.

It can be done. The big problem in Greece is there has not been enough competitive reform to encourage companies to startup and flourish. There problem is not an overvalued curremcy it's cartels, corrupt government and wasteful public spending.

[AtW]

You guys don't understand economics.

Current account deficit doesn't necessarily translate into increased debt totals.

It doesn't if there are reserves to spend, or expenditure is cut or money get printed.

None of which is pleasant and the best way to ensure it does not happen is to run a profitable country - like Germany does or China.

Bank of England already hinted that they'll print money in event of euro collapse - I bet they can't for it.

[sasguru]

The 59% of the population must be doing something and lot of public sector workers have now been thrown out of their jobs.

Countries such as Estonia who were satellite countries of the Soviet Union had absolutely no manufacturing of value really, and look at them now....and yes they're in the Euro.

It can be done. The big problem in Greece is there has not been enough competitive reform to encourage companies to startup and flourish. There problem is not an overvalued curremcy it's cartels, corrupt government and wasteful public spending.

Like the village idiot, cretinous pub bore you are, you keep ranting on about Estonia.
FFS the population of Estonia is probably less than Wandsworth's.
It's like saying looking at Kensington and Chelsea, how successful they are.
That's the problem with the internet, its given thickos like you a platform for your low IQ claptrap.

[BrilloPad]

Like the village idiot, cretinous pub bore you are, you keep ranting on about Estonia.
FFS the population of Estonia is probably less than Wandsworth's.
It's like saying looking at Kensington and Chelsea, how successful they are.
That's the problem with the internet, its given thickos like you a platform for your low IQ claptrap.

Builders still working so forcing you onto cuk?

At the moment you can make a credible argument for most outcomes to the current crisis.

[EternalOptimist]

Builders still working so forcing you onto cuk?

At the moment you can make a credible argument for most outcomes to the current crisis.

He is a demonstrable fool.
He has the builders in, who are creating a racket.


You can get one cheap in sports shops up and down the high street. what an eejit

[AtW]

Builders still working so forcing you onto cuk?

His wife is still busy with them so all he can do is post on CUK.

HTH

[BlasterBates]

Well whatever I wouldn't take the hysteria in the Daily Telegrah too seriously. Their commentators have been predicting imminent Euro meltdown for the last several years:

Europe on the brink of currency crisis meltdown - Telegraph 2008