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[Rods2]

Couldn't have happened to a nicer President and bunch of politicians. 

That's the prices you pay for letting fellow country-men Jacques Delors and President Mitterard develop and impose a deeply floored currency union and then along with Germany being the biggest transgressors on the stability pact which limited debt to 60% of GDP and budget deficits to 3%, so all Eurozone countries felt they could ignore it. He who sows the seeds reaps the whirlwind. 

Unfortunately, the fools in charge with walk away with their gold plated pensions, memoir royalties and large sums from the after dinner speaking circuit, not to mention a place in their upper house and the odd directorship. I feel sorry for the ordinary people who are suffering at the hands of these fools and will be taxed to pay back the losses the fools have incurred (which will include us, thanks Gordon Brown and George Osbourne). Before anybody says the population should not have voted for them, in many countries the politicians were all singing from the same EU hymn sheet, much like in this country.

Talks with Greek politicians and banks being asked to take 50% haircut have broken down, without that Greece won't get the next tranche of their servitude bailout money and will default, so the Eurozone end game gets a step closer. This means the banks holding the loan will lose 100%, except in the game of pass the parcel debt, when the music stops, it will be America  that gets the IOUs as their banks and insurance companies hold most of the Credit Default Swaps (default insurance).

As Merkosy scream more coal, more coal, the Eurozone express goes faster and faster, the buffers are now well in sight.

[cem_devecioglu]

I got some crocodile tears for them

[albitz]

And they still wont face the reality which is staring them in the face.Despicable creatures. The damage they continue to cause with every day of fiddling while Rome burns, will take generations to put right.

[the alarming man]

well it had to happen...could not have happened to a nicer lot 

[geoffr70]

Couldn't have happened to a nicer President and bunch of politicians. 

My thoughts exactly 

[Ken T]

He who sows the wind reaps the whirlwind. 

Sounds like its time to batten down hatches, no new financial commitments, keep your head down and hope the P45 doesn't appear.

My company has recently been taken over by Bosch, who are busy getting our machines made in a chinese factory " so as they can attack the chinese market". Ummm, they will have sets of all our components plus how to build them, plus Bosch control all our patents. How long will we last ?.  And have you noticed how service organisations are all putting up their prices, bus fares in Leicester up by 30%, train fares up, people will take to the roads, and so petrol will go up, etc. A car tyre that cost me £70 a couple years ago is now over £100. Etc, etc, lots of examples everywhere.

Its looking cold out there.

Ken

[Dishevelled Den]

Couldn't have happened to a nicer President and bunch of politicians. 

That's the prices you pay for letting fellow country-men Jacques Delors and President Mitterard develop and impose a deeply floored currency union and then along with Germany being the biggest transgressors on the stability pact which limited debt to 60% of GDP and budget deficits to 3%, so all Eurozone countries felt they could ignore it. He who sows the seeds reaps the whirlwind. 

Unfortunately, the fools in charge with walk away with their gold plated pensions, memoir royalties and large sums from the after dinner speaking circuit, not to mention a place in their upper house and the odd directorship. I feel sorry for the ordinary people who are suffering at the hands of these fools and will be taxed to pay back the losses the fools have incurred (which will include us, thanks Gordon Brown and George Osbourne). Before anybody says the population should not have voted for them, in many countries the politicians were all singing from the same EU hymn sheet, much like in this country.

Talks with Greek politicians and banks being asked to take 50% haircut have broken down, without that Greece won't get the next tranche of their servitude bailout money and will default, so the Eurozone end game gets a step closer. This means the banks holding the loan will lose 100%, except in the game of pass the parcel debt, when the music stops, it will be America  that gets the IOUs as their banks and insurance companies hold most of the Credit Default Swaps (default insurance).

As Merkosy scream more coal, more coal, the Eurozone express goes faster and faster, the buffers are now well in sight.

Unfortunately, the fools in charge with walk away with their gold plated pensions, memoir royalties and large sums from the after dinner speaking circuit, not to mention a place in their upper house and the odd directorship.

This unpleasant fact is galling to say the least - such reward for abject failure and self-interest is, without question, immoral.

Should the day ever dawn when these individuals and associated institutions are called upon to answer for this behaviour - it can't come quickly enough and I am, for one, quite willing (and able) to deal with what should be the logical conclusion if those questions remain unanswered.

These parasites are an affront to common decency – worse still, they epitomise all that is bad in the human condition.

[hotel21]

This unpleasant fact is galling to say the least - such reward for abject failure and self-interest is, without question, immoral.

Should the day ever dawn when these individuals and associated institutions are called upon to answer for this behaviour - it can't come quickly enough and I am, for one, quite willing (and able) to deal with what should be the logical conclusion if those questions remain unanswered.

These parasites are an affront to common decency – worse still, they epitomise all that is bad in the human condition.

Subtle Den, but not un-noticed.....   

As to the core of your comment - yup.....

[Rods2]

He who sows the wind reaps the whirlwind. 

Sounds like its time to batten down hatches, no new financial commitments, keep your head down and hope the P45 doesn't appear.

My company has recently been taken over by Bosch, who are busy getting our machines made in a chinese factory " so as they can attack the chinese market". Ummm, they will have sets of all our components plus how to build them, plus Bosch control all our patents. How long will we last ?.  And have you noticed how service organisations are all putting up their prices, bus fares in Leicester up by 30%, train fares up, people will take to the roads, and so petrol will go up, etc. A car tyre that cost me £70 a couple years ago is now over £100. Etc, etc, lots of examples everywhere.

Its looking cold out there.

Ken

Unfortunately, UK firms being taken over is part of the cost of out trade deficit with the rest of the world. £9bn in the last Q11, as the inward flow of money has to come from somewhere to balance the books. Germany have a positive trade deficit so their companies have much money to spend on investment, including foreign investment. UK industry needs investment, so get taken over and then in many cases shut down and even if they are kept their profits are repatriated to overseas HQ. This has been happening a lot since the balance of payments really started deteriorating from 1997. Everything from Premier football clubs, to BL, British Steel, ICI etc etc. The reverse has not been happening on the same scale, the only major players I'm aware of have been BAE, Vodafone, Barclays and of course RBS where they bought Duff ABRN Bank. 

[Ken T]

Yes, I was thinking the other day, remember when Rover got taken over by BMW, it effectively got asset stripped and the company died shortly after. Who would that benefit, what other car company served the same market ?. VW.

Ken

[Kevin Wood]

..and had it been BMW taking over Renault, Peugeot or whatever you wouldn't see a single BMW on the roads in France to this day. We have short memories in this country, and buy whatever shiny sh1t comes off a boat, yet we moan about our industry going down the pan?

[albitz]

9 countries have been downgraded including France,Italy,Portugal,Spain.As Rod sais earlier,the buffers are looming large.

[Dishevelled Den]

..and had it been BMW taking over Renault, Peugeot or whatever you wouldn't see a single BMW on the roads in France to this day. We have short memories in this country, and buy whatever shiny sh1t comes off a boat, yet we moan about our industry going down the pan?

We have short memories in this country

Quite so K and it tends to be shown in the attitude that many people now have towards society as a whole and the fortunes and integrity of this nation in particular.

Consumerism and self-interest are the forces acting to sway the needle of that moral compass we all need to walk a true path.

[Varche]

He who sows the wind reaps the whirlwind. 

Sounds like its time to batten down hatches, no new financial commitments, keep your head down and hope the P45 doesn't appear.

My company has recently been taken over by Bosch, who are busy getting our machines made in a chinese factory " so as they can attack the chinese market". Ummm, they will have sets of all our components plus how to build them, plus Bosch control all our patents. How long will we last ?.  And have you noticed how service organisations are all putting up their prices, bus fares in Leicester up by 30%, train fares up, people will take to the roads, and so petrol will go up, etc. A car tyre that cost me £70 a couple years ago is now over £100. Etc, etc, lots of examples everywhere.

Its looking cold out there.

Ken

Unfortunately, UK firms being taken over is part of the cost of out trade deficit with the rest of the world. £9bn in the last Q11, as the inward flow of money has to come from somewhere to balance the books. Germany have a positive trade deficit so their companies have much money to spend on investment, including foreign investment. UK industry needs investment, so get taken over and then in many cases shut down and even if they are kept their profits are repatriated to overseas HQ. This has been happening a lot since the balance of payments really started deteriorating from 1997. Everything from Premier football clubs, to BL, British Steel, ICI etc etc. The reverse has not been happening on the same scale, the only major players I'm aware of have been BAE, Vodafone, Barclays and of course RBS where they bought Duff[/s] ABRN Bank. 

Interesting theory. BUT how come Eurozone countries like Spain don't have their companies being invested in or taken over by foreigners.? I am sorry to say but I have long held the belief that Brits are stupid in allowing their key infrastructure or indeed other companies to be taken over by foreign interests. It would be a cold day in hell before the likes of Spain, France, Germany let their family silver fall into the hands of Johnny Foreigner.

[Varche]

I am only surprised that the downgrades haven't come earlier. maybe Christmas intervened. This is the unravelling of both the Euro and the exit in a disorderly fashion of Greece by defaulting. Those of you that heeded my advice months ago and got into gold will be alright. As Albs says for the rest of us it will take a generation to recover from this.

What does interest me is as ever will anyone be sacked? No.    Why on earth didn't Merkel(and to a lesser extent Sarkosy) do something before now? And finally it is easy for people to say let Greece default and kick them out of the Eurozone but just dealing with the backlash of a haircut ( cr4p term for write off) isn't going to be easy. No amount of reforms of public sector in Greece will save them now.