Reply to: Brussels is flush with cash

[Mordac]

I suspect that the main influx of cash in Brussels is coming from the newly elected Brexit Party MEPs who are out on the town, rather than attending, spending your tax dollars celebrating the gullible electorate voting for them

Tax dollars? Shouldn't you be washing your mouth out? It's tax Euros, you Philistine...

[Mordac]

Do you understand that UK is still part of European Union but was never part of the Eurozone? Do you understand the difference between EU and Eurozone!?

Yes.

I read carefully the link you posted but I'm still waiting for source that support your claim that Greece haven't paid in full any of the interest agreed with the UK or that missed any repayment...

I'm not in a position to say whether the interest amount ultimately agreed (heavily reduced from the original demand) was paid in full or not, since the ECB won't/can't say if it hasn't. They haven't repaid any loan capital, because that first payment isn't due for another 13 years.

Why would you say Eurozone is not in good hands? Because they're trying to help a country that has been struggling, instead of forcing it to default and potentially destabilised the all Eurozone!? Is that not the same reason why British government (and many other governments) bail out big banks!?

If you need to ask, Economics probably isn't the subject you should be discussing at dinner parties.

[darmstadt]

I suspect that the main influx of cash in Brussels is coming from the newly elected Brexit Party MEPs who are out on the town, rather than attending, spending your tax dollars celebrating the gullible electorate voting for them

[CryingSheep]

Greece and euro zone agreed to further debt relief



You do know the difference between debt interest payments and debt repayments, don't you? They've merely been paying the interest (at a lower rate than previously sought).

You can judge for yourself whether the Eurozone is in safe hands, I'm fairly certain it isn't.

Do you understand that UK is still part of European Union but was never part of the Eurozone? Do you understand the difference between EU and Eurozone!?

I read carefully the link you posted but I'm still waiting for source that support your claim that Greece haven't paid in full any of the interest agreed with the UK or that missed any repayment...

Why would you say Eurozone is not in good hands? Because they're trying to help a country that has been struggling, instead of forcing it to default and potentially destabilised the all Eurozone!? Is that not the same reason why British government (and many other governments) bail out big banks!?

[Mordac]

Care to provide a source for this?

Given that Greece have repaid over $41billion of their loans since 2015, it sounds like you've made up/been duped into believing another lie

Greece and euro zone agreed to further debt relief

In order to make debt repayments easier for Greece, the euro zone agreed last Friday to a new set of measures.

Under the agreement, Greece doesn’t have to pay any of its money until 2032 - which represents a 10-year extension in the maturities of its debt.

You do know the difference between debt interest payments and debt repayments, don't you? They've merely been paying the interest (at a lower rate than previously sought).

You can judge for yourself whether the Eurozone is in safe hands, I'm fairly certain it isn't.

[CryingSheep]

You do realise that Greece hasn't actually paid back any of its loans? And they appear to be so structured that no repayment is ever likely. The Greek bailout was basically a face-saving exercise because the EU knew damned well that Greece should never have been allowed within a thousand miles of the Eurozone.

Of course Greece will never repay in full its loans, the same way UK, US, Germany or any other country in the world won't pay theirs either! Like any big company, country debt is to be managed, not repaid...

If Greece and other countries start to repay in full their debts it would be the end of the economy as we know it. The ideal scenario of a debt free country is BS...

The point is, Greece (or any other eurozone country for that matter) never missed a payment deadline so far (that's what the bail out was for), so my statement stands correct! UK never lost a pound with the loans to eurozone countries, just got paid interest as expected - therefore made the expected profit from its loans!

[WTFH]

You do realise that Greece hasn't actually paid back any of its loans? And they appear to be so structured that no repayment is ever likely. The Greek bailout was basically a face-saving exercise because the EU knew damned well that Greece should never have been allowed within a thousand miles of the Eurozone.

Care to provide a source for this?

Given that Greece have repaid over $41billion of their loans since 2015, it sounds like you've made up/been duped into believing another lie

[Mordac]

Has any of the eurozone countries to whom UK borrow money, failed to pay it back so far? Including the agreed (very high) interest? In my dictionary, getting interest paid on your money is called profit...

Here -> About maybe you can educate yourself a bit.

If you don't understand the difference between bail out (what the ECB, IMF did) and a loan (what UK and other countries provided), it will be hard to understand why UK being or not in the EU won't make any difference in a future bail out of any eurozone country!

You do realise that Greece hasn't actually paid back any of its loans? And they appear to be so structured that no repayment is ever likely. The Greek bailout was basically a face-saving exercise because the EU knew damned well that Greece should never have been allowed within a thousand miles of the Eurozone.

[CryingSheep]

The ECB is an institution of the European Union. It is not independent of the EU, and almost certainly never will be. I'm not sure I can fathom what thought process led you to believe that somehow the UK has benefited from the Greek bailouts, so I'll simply say you're wrong on that as well.
I don't think you said anything else which might be construed as intelligible, so we'll leave it there.

Has any of the eurozone countries to whom UK borrow money, failed to pay it back so far? Including the agreed (very high) interest? In my dictionary, getting interest paid on your money is called profit...

Here -> About maybe you can educate yourself a bit.

If you don't understand the difference between bail out (what the ECB, IMF did) and a loan (what UK and other countries provided), it will be hard to understand why UK being or not in the EU won't make any difference in a future bail out of any eurozone country!

[Mordac]

Ouzo, Feta, Olive Oil producers not going bankrupt thus denying the Waitrose set their daily intake...

You might just have a point...

[darmstadt]

The ECB is an institution of the European Union. It is not independent of the EU, and almost certainly never will be. I'm not sure I can fathom what thought process led you to believe that somehow the UK has benefited from the Greek bailouts, so I'll simply say you're wrong on that as well.
I don't think you said anything else which might be construed as intelligible, so we'll leave it there.

Ouzo, Feta, Olive Oil producers not going bankrupt thus denying the Waitrose set their daily intake...

[Mordac]

Do you care to explain which part you believe is wrong?

The ECB is an institution of the European Union. It is not independent of the EU, and almost certainly never will be. I'm not sure I can fathom what thought process led you to believe that somehow the UK has benefited from the Greek bailouts, so I'll simply say you're wrong on that as well.
I don't think you said anything else which might be construed as intelligible, so we'll leave it there.

[CryingSheep]

Illiterate and completely wrong. On that basis, I assume you're a remainer...

Do you care to explain which part you believe is wrong?

[Mordac]

If Mordac and Jog On merged, they'd be MorOn.

No, we'd be an all singing, all dancing double act. He'd better be good at both though, because I'm good at neither...

[Mordac]

You still don't get, do you!? Who bails out EUROZONE countries is the ECB (EUROPEAN CENTRAL BANK) not EU (European Union). They are two different independent entities!

The second, for the time being, UK is part of.

The first doesn't have anything to do with the UK since (surprise, surprise!!!) UK is not part of the Eurozone. Of course UK might borrow (B-O-R-R-O-W) money to the ECB (the same way UK borrow money to many other international banks). Then if the ECB decides to use that loan to bailout some countries, is not relevant, as far as UK gets the interest and the loan repaid (as it has happened so far, and no reason to believe it won't keep that way).

So, if something, UK has been profiting from the bailout of countries like Greece, Portugal, Ireland, Spain, etc.

Illiterate and completely wrong. On that basis, I assume you're a remainer...