Collarspace Discussion Forums


Home  Login  Search 

Britain and the Euro area


View related threads: (in this forum | in all forums)

Logged in as: Guest
 
All Forums >> [Community Discussions] >> Dungeon of Political and Religious Discussion >> Britain and the Euro area Page: [1] 2 3   next >   >>
Login
Message << Older Topic   Newer Topic >>
Britain and the Euro area - 12/9/2011 1:01:59 PM   
Politesub53


Posts: 14862
Joined: 5/7/2007
Status: offline
At present Britain and three other countries have refused to agree to the new Euro area proposed accords. Some of the other nations not in the Euro area have agreed to sign up.

France and germany are making a fuss that Britian is holding back the Euro but it isnt seen that way here by everyone. The new plans state a refinforcement of a deal made when the Euro was first set up, Britain ALREADY signed that at Maastricht. This states that no nation shall have a deficit higher than 3% of GDP ( Ironically France and Germany were among the first to break that barrier ) Anyhow the new plan seeks to allow Brussels to have power of am individual nations monetery policies. Many see this as unacceptable unless you are applying for a bailout (The ECB has indicated it wont lend to nations)

The whole thing about this new accord is that it is grabbing sovereignty by small steps, something Cameron has said wont happen. I am glad Cameron stuck to his guns and refused to hand over any new powers. The upshot of this could be a two speed Euro, but that itself is full of problems as the EU beaurocrats are employed to do whats best for the EU (IE all 27 members) and not just those in the Euro.

The big worry is no one is sure how this will pan out, but the financial markets didnt react badly to the news earlier today.
Profile   Post #: 1
RE: Britain and the Euro area - 12/9/2011 1:06:19 PM   
LadyHibiscus


Posts: 27124
Joined: 8/15/2005
From: Island Of Misfit Toys
Status: offline
I am not savvy enough on this matter but on the surface I am glad the UK hasnt fallen into the Euro pit.

_____________________________

[page 23 girl]



(in reply to Politesub53)
Profile   Post #: 2
RE: Britain and the Euro area - 12/9/2011 1:10:34 PM   
mnottertail


Posts: 60698
Joined: 11/3/2004
Status: offline
Well, I mean after all the scheme is so Hjalmar Schaact.   I mean you all went in for a penny in for a pound, but having Germany regulator of your economy will not sit well with the island or alot of other countries, and who is to say who is next in line when Germany is knocked off as king of the hill economy wise.

They are going to ponce this around until everybody says, fuck it all and goes back to their original mintage.   It won't be as big a break up as the Soviet Union, but I don't know that the mega-economy-mega-market idea has had any fruition whatsoever, has it?    

_____________________________

Have they not divided the prey; to every man a damsel or two? Judges 5:30


(in reply to Politesub53)
Profile   Post #: 3
RE: Britain and the Euro area - 12/9/2011 1:41:37 PM   
willbeurdaddy


Posts: 11894
Joined: 4/8/2006
Status: offline
the Euro is dead, at least as currently structured. The strongest economy, Germany, is about to find out that it its 80% debt to GDP ratio is unsustainable when there is no market left to export to.

_____________________________

Hear the lark
and harken
to the barking of the dogfox,
gone to ground.

(in reply to mnottertail)
Profile   Post #: 4
RE: Britain and the Euro area - 12/9/2011 1:57:42 PM   
bighappygoth39


Posts: 633
Joined: 10/7/2009
Status: offline
I don't know too much about the details, but I hope that because of us refusing to sign it France won't decide to throw a hissy fit and try and get us back. They already dislike us enough as it is, but then again, I'm not sure France likes anyone else except themselves. Just my own opinion, of course. I'm sure there are some lovely French people out there who love the UK...

_____________________________

I just lurrves me chesticles, I do. :)

Don't judge a book by its cover, it could well be worth a good sniff or two...

(in reply to willbeurdaddy)
Profile   Post #: 5
RE: Britain and the Euro area - 12/9/2011 3:52:09 PM   
Politesub53


Posts: 14862
Joined: 5/7/2007
Status: offline
It was structured wrongly from the start, and as such, doomed to failure. I am wondering how the German populace will vote given their standard of living is on the downslope. oddly enough, in Greece it is, or at least was, on the upslope. Go figure.

Part of the stumbling block this time was the proposed tax on financial transactions, which would hit the UK disproportionately. Cameron couldnt afford to see financiers move to tax havens, as he relies on the revenue it brings to the City of London.

(in reply to bighappygoth39)
Profile   Post #: 6
RE: Britain and the Euro area - 12/9/2011 3:54:40 PM   
mnottertail


Posts: 60698
Joined: 11/3/2004
Status: offline
Well, again, I know there was a gala of thought that it would be a bulwark against the yank economy and be fairer in size with us, but did it really do anything for your market or economy?   I mean it is rather like us propping up our red states with our federal taxes here, innit?  You gave more than you got, right?

_____________________________

Have they not divided the prey; to every man a damsel or two? Judges 5:30


(in reply to Politesub53)
Profile   Post #: 7
RE: Britain and the Euro area - 12/9/2011 4:02:16 PM   
Politesub53


Posts: 14862
Joined: 5/7/2007
Status: offline
I would think France and Germany did better out of it than us, but less so than Southern Europe.

As ideas go, a free trading market was a good idea. Which, looking back, was the question ted heath asked when he held the referendum to take us in. Does anyone have a clue why he didnt tell us the truth ? Could it be those in the know, knew.

(in reply to mnottertail)
Profile   Post #: 8
RE: Britain and the Euro area - 12/9/2011 4:04:04 PM   
mnottertail


Posts: 60698
Joined: 11/3/2004
Status: offline
I'd dump the bitch, that fuckin toilet would be flushing as fast as I could work the handle.

But that's the american in me talking, your issues are of a different nature there.

_____________________________

Have they not divided the prey; to every man a damsel or two? Judges 5:30


(in reply to Politesub53)
Profile   Post #: 9
RE: Britain and the Euro area - 12/9/2011 4:24:26 PM   
InvisibleBlack


Posts: 865
Joined: 7/24/2009
Status: offline
In the interests of full disclosure, I thought the EU was a bad idea from the git-go and I'm amazed it lasted as long as it did before starting to rip at the seams. That being said ... I think the UK would be insane to allow foreign powers (whether German, French, Belgian or ersatz "international" politicians) control of its fiscal and monetary policies. Looking at the nations that have followed the "suggestions" of the ECB (i.e. Greece, Italy, Ireland, et al), they are slowly or not so slowly crumbling into ruin. The one that told everyone to talk a hike (i.e. Iceland) is doing far better.

I also notice that the current treaty under discussion doesn't really talk to what the enforcement policy will be if a member nation doesn't toe the line after this loss of sovereignty. If a country doesn't keep it's debt at the right level or doesn't maintainthe proper GDP ratios or whatever - exactly what is the EU going to do? Apply economic sanctions? Push out the elected government and replace it with an EU one? Send in the troops and hoist the EU flag?

I don't think the path forward from here is very pretty for the EU.

_____________________________

Consider the daffodil. And while you're doing that, I'll be over here, looking through your stuff.

(in reply to Politesub53)
Profile   Post #: 10
RE: Britain and the Euro area - 12/9/2011 4:35:19 PM   
MrRodgers


Posts: 10542
Joined: 7/30/2005
Status: offline
quote:

ORIGINAL: willbeurdaddy

the Euro is dead, at least as currently structured. The strongest economy, Germany, is about to find out that it its 80% debt to GDP ratio is unsustainable when there is no market left to export to.

I have decided that this is just ok for the real power behind the thrones. In the future it will be the power(s) behind the throne.

You see they are always risk-averse and have a chance now to establish the great western capitalist bailout regime. With speculation being our game, the vacuousness of which continually putting society at risk, requires society's guarantee. Here it is...plain as day.

In fact kinkroids as we type, it is being 'lobbied' that the IMF come up with ALL of the difference. That 'difference' being enough to do what ? Enough to do what private industry is holding out from doing it, so taxpayers restore equities and while they out hold their trillions from lending.

So now we have ALL western taxpayers bailing out Europe through the IMF so the ECB (European central bank) doesn't sully the EURO monetary system and actually tax its people the added measure for success. This is sort of a financial D-Day from all of western society's taxpayers.

And they think the left are socialists. For 40 years we've been getting this crap and now capitalist greed and speculation on shit-paper...has hit the fan. Rich yet ? Happy now ?

< Message edited by MrRodgers -- 12/9/2011 5:12:12 PM >

(in reply to willbeurdaddy)
Profile   Post #: 11
RE: Britain and the Euro area - 12/9/2011 4:58:38 PM   
Politesub53


Posts: 14862
Joined: 5/7/2007
Status: offline

quote:

ORIGINAL: MrRodgers

So now we have ALL western taxpayers bailing out Europe through the IMF so the ECB (European central bank) doesn't sully the EURO monetary system and actually tax its people the added measure for success. This is sort of a financial D-Day from all of western society's taxpayers.




The IMF have actually bailed out very few EU nations.....Just three as I recall.

(in reply to MrRodgers)
Profile   Post #: 12
RE: Britain and the Euro area - 12/9/2011 5:10:35 PM   
Anaxagoras


Posts: 3086
Joined: 5/9/2009
From: Eire
Status: offline
I agree with Cameron. It is an inexcusible infringement on sovereignty. It wasn't so much a lack of fiscal control in the EU that caused this crisis. That was just one factor. The shambolic way the EU itself responded, and the sectional interests of the likes of Sarkozy, was the real culprit. Ultimately this crisis unmasked the real power structures of the EU because it became manifestly clear that Merkle and Sarkozy (representing Germany and France) are calling the shots. This I think will be the ultimate undoing of the Euro, rather than the current crisis, because no one in the whole region will believe the sham-democracy of the Union anymore.

The treaty will have to go to a referendum in Ireland and it is extremely unlikely that it will be passed because the EU treated us like shit in the past, partly because we refused to say yes to another treaty a few years back because it was essentially impenetrable, and the EU basdically steam-rolled the country into another one. So it seems it is perfectly OK for countries to have referendums on European treaties as long as the say "yes". BTW I wrote a lengthy post about what happened in Ireland when the EU came to town http://www.collarchat.com/fb.asp?m=3955129 which is located on a tin-foil "illooninati" thread when it would have been more fitting here. IMO it is quite a cautionary tale on the EU.

_____________________________

"That woman, as nature has created her, and man at present is educating her, is man's enemy. She can only be his slave or his despot, but never his companion." (Venus in Furs)

(in reply to Politesub53)
Profile   Post #: 13
RE: Britain and the Euro area - 12/9/2011 5:15:43 PM   
MrRodgers


Posts: 10542
Joined: 7/30/2005
Status: offline
quote:

ORIGINAL: Politesub53


quote:

ORIGINAL: MrRodgers

So now we have ALL western taxpayers bailing out Europe through the IMF so the ECB (European central bank) doesn't sully the EURO monetary system and actually tax its people the added measure for success. This is sort of a financial D-Day from all of western society's taxpayers.


The IMF have actually bailed out very few EU nations.....Just three as I recall.

Just to throw out the very idea is a real ice-breaker. I am very concerned about the rest especially Spain, one country that behaved itself, was running a surplus but 20% unemployment has devastated central receipts.I am thinking of helping out. I am considering a poly whore house. Legal and lucrative.


< Message edited by MrRodgers -- 12/9/2011 5:21:02 PM >

(in reply to Politesub53)
Profile   Post #: 14
RE: Britain and the Euro area - 12/9/2011 5:22:30 PM   
tj444


Posts: 7574
Joined: 3/7/2010
Status: offline
as I understand it,.. the EU was a way to promote more cooperation and fend off possibilities of war between some of those countries.. and since being formed, people and goods move more easily now..

There have been problems, such as now certain people especially in certain countries are anti-immigrant, very much like it is in the US..

anyway.. i was watching a vid discussion (taped in May) between marc faber and jim rogers.. talking about the EU,.. they seem to think down the road there will be three major blocs, asia, US and EU.. if the EU fails, then European jobs will go to China instead of eastern Europe..

imo, i want the euro to survive and thrive, there needs to be another major currency against the US dollar.. There needs to be that third bloc (the EU) in this world, imo...


_____________________________

As Anderson Cooper said “If he (Trump) took a dump on his desk, you would defend it”

(in reply to Politesub53)
Profile   Post #: 15
RE: Britain and the Euro area - 12/9/2011 9:16:29 PM   
tweakabelle


Posts: 7522
Joined: 10/16/2007
From: Sydney Australia
Status: offline
quote:

At present Britain and three other countries have refused to agree to the new Euro area proposed accords


Polite, the media here is suggesting that the basis of UK opposition lies in a feeling that a proposed Europe-wide Financial Institution's Tax will impact unfairly on the UK. The tax is (I'm told) primarily designed to reduce the impact of inter-bank trading/speculation (aka gambling), which has been coming under increased criticism lately.

London is the main European financial centre, and I've seen figures that up to E40 billion of the estimated E60 billion will be generated in the UK.

How do you feel about this tax? Are these estimates accurate in your view? Is this the real reason for Cameron's refusal to sign in your view? Or is it reluctance to impose the tax in the first place?

I find it difficult to imagine that the Tories are ideologically disposed towards such a tax.

< Message edited by tweakabelle -- 12/9/2011 9:18:09 PM >


_____________________________



(in reply to Politesub53)
Profile   Post #: 16
RE: Britain and the Euro area - 12/10/2011 3:43:41 AM   
Politesub53


Posts: 14862
Joined: 5/7/2007
Status: offline

quote:

ORIGINAL: tweakabelle

Polite, the media here is suggesting that the basis of UK opposition lies in a feeling that a proposed Europe-wide Financial Institution's Tax will impact unfairly on the UK. The tax is (I'm told) primarily designed to reduce the impact of inter-bank trading/speculation (aka gambling), which has been coming under increased criticism lately.

London is the main European financial centre, and I've seen figures that up to E40 billion of the estimated E60 billion will be generated in the UK.


The observation in the media here is that half of the financial transactions you speak take place in the UK. My understanding is the new tax will be used to prop up the ECB bailout fund.

quote:

How do you feel about this tax? Are these estimates accurate in your view? Is this the real reason for Cameron's refusal to sign in your view? Or is it reluctance to impose the tax in the first place?


I dont think the tax is fair, banks here are already heavily taxed, more tax will only be passed on to the consummer, and as such wont halt speculation like we have seen in the last decade. All that will halt that is regulation, especially a firewall between mainstream banks and investment banks.

quote:

I find it difficult to imagine that the Tories are ideologically disposed towards such a tax.


Far from it, the banks already pay a large slice of the UK`s income via taxes. Cameron knows he needs this money to help pay off the deficit. Add to this the Tories know that this plan would take away the ability of single nations to regulate their own banks. below is a section from a BBC report.

"This would mean, for example, that in implementing the Vickers report on banks, the UK could not be prevented from requiring UK banks to hold more capital - or liquidity - than required under EU regulations. This is another ongoing dispute with the European regulators, in which the IMF has recently taken the UK's side."

http://www.bbc.co.uk/news/uk-16116902

(in reply to tweakabelle)
Profile   Post #: 17
RE: Britain and the Euro area - 12/10/2011 5:37:56 AM   
mnottertail


Posts: 60698
Joined: 11/3/2004
Status: offline
quote:

ORIGINAL: InvisibleBlack

In the interests of full disclosure, I thought the EU was a bad idea from the git-go and I'm amazed it lasted as long as it did before starting to rip at the seams. That being said ... I think the UK would be insane to allow foreign powers (whether German, French, Belgian or ersatz "international" politicians) control of its fiscal and monetary policies. Looking at the nations that have followed the "suggestions" of the ECB (i.e. Greece, Italy, Ireland, et al), they are slowly or not so slowly crumbling into ruin. The one that told everyone to talk a hike (i.e. Iceland) is doing far better.

I also notice that the current treaty under discussion doesn't really talk to what the enforcement policy will be if a member nation doesn't toe the line after this loss of sovereignty. If a country doesn't keep it's debt at the right level or doesn't maintainthe proper GDP ratios or whatever - exactly what is the EU going to do? Apply economic sanctions? Push out the elected government and replace it with an EU one? Send in the troops and hoist the EU flag?

I don't think the path forward from here is very pretty for the EU.


Well, IB....they'd have to fine the offenders, wouldn't they?  I expect they would have to loan the country the funds to pay that fine as well.

A real sinker.

_____________________________

Have they not divided the prey; to every man a damsel or two? Judges 5:30


(in reply to InvisibleBlack)
Profile   Post #: 18
RE: Britain and the Euro area - 12/10/2011 5:49:07 AM   
Aneirin


Posts: 6121
Joined: 3/18/2006
From: Tamaris
Status: offline
What I get from this is Britain especially the English are not liked, it is a historical thing, but mainland Europe needs Britain because of it's financial capabilities and it's military prowess, the question to me, is do we as Britons need Europe, are they that useful to our society and economy ?

On a society level, we are told what to do by Europe, immigrants being the biggest problem the too rapid dilution of our society and it is this that the man on the street reacts to the most, as incomers equal the very real fear of the lack of job opportunities and a place to live, because Europe tells us we have to accept unsustainable immigration and provide what immigrants need to live, where the indigenous people seem not to have such powerful laws to protect them. I have been homeless, when I came out of the armed forces I was homeless and I saw for myself derelict houses being made habitable for immigrants, but nothing for myself, I simply did not qualify, and I had served my country.

But what caused all this, maybe the west has been living on borrowed time, we have been sustaining our lifestyle via borrowing instead of manufacture and trade, seeing as our industry was moved to where it is cheaper to produce, the outsourcing idea, but of outsourcing who did it, was it the nation, or was it individuals, for it sure seems to me our industry is stuffed because individuals sought to get rich, but then again why not considering the power of the unions in British industry who can and did bring the country to a standstill on a few occasions, I vaguely remember the 1970's, certainly the strikes where refuse piled up on street corners and the dead did not get buried, but why did the unions act like that, was it in the face of unfairness from the owners, if it was, then what I see here is Britain as it always was, unable to communicate without hostility through the classes, we have a long history of that and Britain's politics reflected that fact, workers were normally Labour and owners were normally Conservative, the two as ever refusing to work together and that because that is how Britain was created, the privileged few ruling the masses in the past by wealth and there force of arms. So as a nation we fought and fought and now we have lost it all, the owners have taken our industries overseas and we have been living a lie since, sustaining our lifestyle by borrowing made easy by the hawkish financial industries.

So where do we go from here, well sense to me says decentralise and look to our own country starting with maintaining our borders and there rekindle industry if we can, sure it will be tough going, people won't be happy with our reduced lifestyle, but to independently survive, we must live within our means and that nationally means our governments keeps it's noses out of other country's affairs and not waste our resources in other country's squabbles that do nothing but indebt the populace often for the benefit of the few, so chuck our idealism, it is not sustainable, only wealthy country's can have the luxury of idealism.

So my thoughts are basically, to get out of Europe and start running our own affairs, this of course will provide a lot of negativities, as European membership does provide a lot of good, but for the survival of our country, we are going to have to bite the bullet and elect people that serve us not private entities.

_____________________________

Everything we are is the result of what we have thought, the mind is everything, what we think, we become - Guatama Buddha

Conservatism is distrust of people tempered by fear - William Gladstone

(in reply to Politesub53)
Profile   Post #: 19
RE: Britain and the Euro area - 12/10/2011 5:55:50 AM   
mnottertail


Posts: 60698
Joined: 11/3/2004
Status: offline
And that's my point, France's only interest will be, was, and is France.  And the Germans...well say no more.

Politically speaking, if I had the gameplan to call in Britain,  I would stuff Cabbage on her overstuffed toilet in full battle regalia at the abbey, throw up every channel of the BBC and closed circuit to the EU and have her say; simply, "You have our permission to bugger off."

<jeesuuus, I can't speelllll today.>

< Message edited by mnottertail -- 12/10/2011 5:58:36 AM >


_____________________________

Have they not divided the prey; to every man a damsel or two? Judges 5:30


(in reply to Aneirin)
Profile   Post #: 20
Page:   [1] 2 3   next >   >>
All Forums >> [Community Discussions] >> Dungeon of Political and Religious Discussion >> Britain and the Euro area Page: [1] 2 3   next >   >>
Jump to:





New Messages No New Messages
Hot Topic w/ New Messages Hot Topic w/o New Messages
Locked w/ New Messages Locked w/o New Messages
 Post New Thread
 Reply to Message
 Post New Poll
 Submit Vote
 Delete My Own Post
 Delete My Own Thread
 Rate Posts




Collarchat.com © 2025
Terms of Service Privacy Policy Spam Policy

0.094