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The way ahead for the EU?

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Lippytarian
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« Reply #15 on: December 14, 2011, 07:30:30 am »

So it hasn't addressed the debt issue at all?

It's going to talk about addressing the debt issue over the next few months.................

That'll reassure the financial markets, won't it?

The markets are not yet reassured, and with good reason. But in the absence of a magic wand, what more should the EU-1 now be doing?
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Tattie
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« Reply #16 on: December 14, 2011, 08:18:21 am »

The markets are not yet reassured, and with good reason. But in the absence of a magic wand, what more should the EU-1 now be doing?


Call perhaps the thirteenth or fourteenth debt related summit in the last couple of years to hear what the French and Germans have decided to talk about doing?
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John
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« Reply #17 on: December 17, 2011, 06:26:01 pm »

I`ve been laid up in bed this week, missed all the fun (take the advice of a hairy assed old Chief fellers;at the first twinge of pain in your hip see a doctor IMMEDIATELY and insist on being referred to a consultant IMMEDIATELY. It is the most painful thing I have ever experienced and its taken 10 months so far and no surgical appointment)

It is so entertaining watching the Eurojerks getting all stern about finances and money. I enjoyed Marianne`s whimsical remark about rules. As she knows they had rules. One of the rules for entry was that the applicant`s debt should be less than 60% of GDP (I hope my figures are correct, I will Google for the figures if challenged) None of the Eurojerks  checked to see if this rule was being obeyed, or if they did they just ignored it, France had a debt of 160% of GDP. God knows what Greece was but again no-one did anything about curbing their club members when it looked as if they were getting themselves and the club in  trouble. Another rule of course was that the funds for the Eurozone and its parent organisation the EU should be properly administered. Well..that`s natural innit? but nobody did anything about the accounts not being cleared for the last thirteen years. The waste and corruption and crookedness is of truly Olympian proportions. How any body in the EU can have the brass neck to point to the minor foilbles of the Greek economy is very good. Who said the Germans lack a sense of humour?
And after all the Sturm und Drang of the past fortnight they are still no nearer a solution to the problem. Not even close to an agreement to reach a solution that might lead to accord within the countries who will be left in the zone next week to have a proper summit which might lead to...Huh?
What they really need of course is someone with the breadth of experience and the training and know how and the track record of dealing with financial tsunamis but unfortunately Clegg is a bit busy u turning and dodging bricks from his loyal party members.


I pour a drink and settle down before the news bulletins now. They are more entertaining than the x factor.
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Lippytarian
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« Reply #18 on: December 18, 2011, 10:21:22 am »

Sorry to hear you've been unwell.

Your figures on debt are way out.The BBC has an excellent series of graphs here.(Click on Defict / GDP / Unemployment / Debt along the top to select the graph, then click on the country names to highlight that country.) You will find many surprises in there. For example The UK, France and Germany all have about the same level of sovereign debt - and all of us way higher than Spain.

Just found this one too:
Eurozone debt web: Who owes what to whom?
Click on Greece and then Italy - this helps to explains why the rating agencies are marking down France's card and also why Sarkozy is so very desperate for a deal to be reached even though it pools/surrenders cherished French sovereignty to Eurozone-wide fiscal authorities.

Regarding the Euro and rules, rules were set but have not been enforced. Even the Germans have broken them. There have been no real sanctions and in what we now perceive as the good times it didn't seem to matter. The current negotiations which are due to be completed before March will put in place a range of measures which are much more stringent, legally binding at the national level and policed and enforced at the Eurozone level too. It should be obvious from the news bulletins that the people involved in this believe this agreement, if it can be reached, is a historic and a strategic thing, not the rubber-stamping of a worthless piece of paper.
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« Reply #19 on: December 22, 2011, 01:42:36 pm »

Yeah. Right.
ROFLMFHO
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« Reply #20 on: January 28, 2012, 12:37:43 am »

Cameron lied again. Now there's a surprise. But perhaps I'm being too charitable - maybe he is hopelessly out of his depth with no clue of what he is doing.

David Cameron in U-turn over fiscal policing of eurozone.

He is going to let the others use the EU institutions even though the fiscal union it isn't an EU treaty. Y'know I think the veto only happened because he had to go into the summit meeting on his own. If the grown-ups had been operating the strings as they normally do he never would have done it.
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