Omega Owners Forum
Chat Area => General Discussion Area => Topic started by: albitz on 20 May 2010, 06:28:27
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The German led rescue bid of the Euro has desended into chaos and is pulling other economies down with it. Angela Merkel banned naked short selling yesterday, which wiped £35billion of the value of the british economy in one day.Remember that a fortnight ago we were told that taking £6 billion out of the economy this year would wreck the economic recovery, so if this is true I dread to think what £35 billion in one day is going to do.
This is on top of the recent announcement of very heavy restrictions being placed on hedge funds by the EU. over 80% of hedge funds in the EU are in this country,so in reality the rest of the EU is placing restrictions on the British economy.
It is really starting to look like the Euro is doomed to fail, possibly sooner rather than later. Many Germans are apparently calling for it to be scrapped and want to return to the deutchmark.
Merkel however has staked everything on its rescue by her half a trillion or so cash injection, which has had no effect. It is still falling against the dollar and there seems to be no prospect of an improvement This is why imo she has started to take these knee jerk panic reactions - she is trying to appease her own electorate, despite the cost to the economies of other countries in the EU and further afield.
I think its time for Boy George Osborne to grow some gonads and start putting some pressure on the EU on behalf of the UK.We are a major contributor to the boiler that powers the Brussels gravy train and it might be a good time to remind them of that fact imo.
Maybe he should give Maggie a ring and see if he can borrow her handbag. ;)
P.S. The markets seem convinced that Greece will default on its debt. It would take a major change in the national mindset, an acceptance of severe austerity for many years, for them to have a chance of pulling themselves out of the black hole they have got themselcves into, and no one seems to believe that is going to happen.
When they do default on their debt, we are going to be liable for £8 billion thanks to that nice Mr Darling. And that will only be the start of it, the ripples across the worlds economies will be severe. :(
Its not all bad news though, the long term effect of all this could mean the disintegration of the ludicrous EU.
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Politics at 6:30. Do you take drugs at work?
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Lots of em. :y
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The German led rescue bid of the Euro has desended into chaos and is pulling other economies down with it. Angela Merkel banned naked short selling yesterday, which wiped £35billion of the value of the british economy in one day.Remember that a fortnight ago we were told that taking £6 billion out of the economy this year would wreck the economic recovery, so if this is true I dread to think what £35 billion in one day is going to do.
This is on top of the recent announcement of very heavy restrictions being placed on hedge funds by the EU. over 80% of hedge funds in the EU are in this country,so in reality the rest of the EU is placing restrictions on the British economy.
It is really starting to look like the Euro is doomed to fail, possibly sooner rather than later. Many Germans are apparently calling for it to be scrapped and want to return to the deutchmark.
Merkel however has staked everything on its rescue by her half a trillion or so cash injection, which has had no effect. It is still falling against the dollar and there seems to be no prospect of an improvement This is why imo she has started to take these knee jerk panic reactions - she is trying to appease her own electorate, despite the cost to the economies of other countries in the EU and further afield.
I think its time for Boy George Osborne to grow some gonads and start putting some pressure on the EU on behalf of the UK.We are a major contributor to the boiler that powers the Brussels gravy train and it might be a good time to remind them of that fact imo.
Maybe he should give Maggie a ring and see if he can borrow her handbag. ;)
P.S. The markets seem convinced that Greece will default on its debt. It would take a major change in the national mindset, an acceptance of severe austerity for many years, for them to have a chance of pulling themselves out of the black hole they have got themselcves into, and no one seems to believe that is going to happen.
When they do default on their debt, we are going to be liable for £8 billion thanks to that nice Mr Darling. And that will only be the start of it the ripples across the worlds economies ,will be severe. :(
Its not all bad news though, the long term effect of all this could mean the disintegration of the ludicrous EU.
disintegration of the ludicrous EU
In totality, I don't think that's a particularly desirable thing my wise one - certainly a reduction in the drive to seemingly weld the diverse nations of the EU into one super state with a common currency, common legislation and singular foreign policy would be a start along the road to sanity but the wholesale break-up of it would lead to chaos - so closely aligned is the legislative establishment amongst the current membership.
An alliance of trading nations - a common market - must surely benefit us all but then I thought that this was the original intention. How did it all go so wrong?
the ripples across the worlds economies
Thanks to the rabid desire to embrace globalisation.
grow some gonads and start putting some pressure on the EU on behalf of the UK
That's why we need strong majority government whose aims are directed towards the benefit of the citizens of this nation and not rooted in the notional and theoretical strata of high politics.
she is trying to appease her own electorate,
Another disadvantage (of the many) when depending on coalition government for power.
restrictions being placed on hedge funds by the EU. over 80% of hedge funds in the EU are in this country,so in reality the rest of the EU is placing restrictions on the British economy.
This is of course the very real disadvantage of placing so much reliance on the mercurial and capricious financial sector to steer the nation’s economy.
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The German led rescue bid of the Euro has desended into chaos and is pulling other economies down with it. Angela Merkel banned naked short selling yesterday, which wiped £35billion of the value of the british economy in one day.Remember that a fortnight ago we were told that taking £6 billion out of the economy this year would wreck the economic recovery, so if this is true I dread to think what £35 billion in one day is going to do.
This is on top of the recent announcement of very heavy restrictions being placed on hedge funds by the EU. over 80% of hedge funds in the EU are in this country,so in reality the rest of the EU is placing restrictions on the British economy.
It is really starting to look like the Euro is doomed to fail, possibly sooner rather than later. Many Germans are apparently calling for it to be scrapped and want to return to the deutchmark.
Merkel however has staked everything on its rescue by her half a trillion or so cash injection, which has had no effect. It is still falling against the dollar and there seems to be no prospect of an improvement This is why imo she has started to take these knee jerk panic reactions - she is trying to appease her own electorate, despite the cost to the economies of other countries in the EU and further afield.
I think its time for Boy George Osborne to grow some gonads and start putting some pressure on the EU on behalf of the UK.We are a major contributor to the boiler that powers the Brussels gravy train and it might be a good time to remind them of that fact imo.
Maybe he should give Maggie a ring and see if he can borrow her handbag. ;)
P.S. The markets seem convinced that Greece will default on its debt. It would take a major change in the national mindset, an acceptance of severe austerity for many years, for them to have a chance of pulling themselves out of the black hole they have got themselcves into, and no one seems to believe that is going to happen.
When they do default on their debt, we are going to be liable for £8 billion thanks to that nice Mr Darling. And that will only be the start of it, the ripples across the worlds economies will be severe. :(
Its not all bad news though, the long term effect of all this could mean the disintegration of the ludicrous EU.
Can't be much of a robust "economy" that loses that sort of value from the actions of another country. To me it shows how fragile our bubble of an economy is based as it is on gambling on debts, loans etc rather than on good old fashioned manufacturing.
I do agree that the Boy George needs to get stuck in and play a full and proper part in the EU on behalf of Britain. He ought to arrive with his empty hand held out and return with it full of money for a start.
The euro will not fail. Not a chance. It will just correct.
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The German led rescue bid of the Euro has desended into chaos and is pulling other economies down with it. Angela Merkel banned naked short selling yesterday, which wiped £35billion of the value of the british economy in one day.Remember that a fortnight ago we were told that taking £6 billion out of the economy this year would wreck the economic recovery, so if this is true I dread to think what £35 billion in one day is going to do.
This is on top of the recent announcement of very heavy restrictions being placed on hedge funds by the EU. over 80% of hedge funds in the EU are in this country,so in reality the rest of the EU is placing restrictions on the British economy.
It is really starting to look like the Euro is doomed to fail, possibly sooner rather than later. Many Germans are apparently calling for it to be scrapped and want to return to the deutchmark.
Merkel however has staked everything on its rescue by her half a trillion or so cash injection, which has had no effect. It is still falling against the dollar and there seems to be no prospect of an improvement This is why imo she has started to take these knee jerk panic reactions - she is trying to appease her own electorate, despite the cost to the economies of other countries in the EU and further afield.
I think its time for Boy George Osborne to grow some gonads and start putting some pressure on the EU on behalf of the UK.We are a major contributor to the boiler that powers the Brussels gravy train and it might be a good time to remind them of that fact imo.
Maybe he should give Maggie a ring and see if he can borrow her handbag. ;)
P.S. The markets seem convinced that Greece will default on its debt. It would take a major change in the national mindset, an acceptance of severe austerity for many years, for them to have a chance of pulling themselves out of the black hole they have got themselcves into, and no one seems to believe that is going to happen.
When they do default on their debt, we are going to be liable for £8 billion thanks to that nice Mr Darling. And that will only be the start of it, the ripples across the worlds economies will be severe. :(
Its not all bad news though, the long term effect of all this could mean the disintegration of the ludicrous EU.
Agreed..