Is the EU done for?

mellman01

Well it's getting a tad fraught over there in the EU or as some like to call la la land, not sure why any of them are surprised the wheels are coming off like they are; it isn't rocket science to figure out any formal of accounting done by Greece and especially Italy isn’t worth the paper it’s printed on, I always had deep concerns they were cooking the books just so they could get their hands on cheap loans.
The French are the ones who should take most the blame for all of this seeming the closed down the European banks investment and loans risk assessing section 8 years ago just so the PIGS could get their swill, the whole thing is a house of cards, it’s a fantasy land dreamt up and made real by the French who I feel have had their head way up in the clouds for far to long, they have over expanded by letting far to many countries come on board and also seriously overstretched the financial system of the EU simply on a whim, a flight of fancy that has nothing to do with reality and all to do with a hedonistic attempt at building a utopia, how the Germans managed to get talked and dragged along with this idiotic French concept beats me.
From what I am seeing I seriously wonder if the EU can weather this storm, we haven’t even reached the eye of it yet there’s many more months of turbulence to go yet.

valval

i think the germans saw it a way to dominate what they could not do by force they would do by stelth( this only my opinion). they will rue the day they went for it though the bubble has well and truely burst shame it going to pull us down with them as well and we not even in it just keep helping them time to pull in the belt and start producing the things we need and buying british exports are going to suffer unless it to china etc val

mellman01

Yeah I agree Len, did you see the program Greek for a week, what a carry on a bus drivers wage is 35K but with all the other bits and bob's it's double that!. The euro was a dream made real and the French didn't want their baby to fail so bent the rules to try and make one size fits all, how in hell can you have all those different economies running in tune with each other, it's like holding a formula one race but allowing every type of car to have a go totally crazy.

mellman01

so they don't retire at 54 with a pension equivalent to 100% their annual salary for the first year and 90% for the second?, is it also wrong to state a bus driver gets £50K per year?, if so what age do they hang up their hats and what kind of pension do they get?, and how much does a bus driver really earn??.
There's an old military adage that states, the top speed of a convoy is that of it's slowest ship, the French and all those other nations in the euro zone seem to have forgotten that little gem of wisdom. Sadly the Euro was a disaster waiting to happen. Now the train has hit the buffers big time, regardless of who did what how are the Greeks and the rest of the PIGS going to pay for it?, and don't say we all have to chip in, they made their bed so let them sort it out without forcing my child to have another debt Albatross round her neck. We weren't in it so we shouldn't be forced to stump up for a French/German invented disaster. But I bet that's what they will try and make us do.

Airwave!

Lets face it, everyone overspent, at the cost of future generations, who will, I doubt, ever repay all the loans. Would you lend someone a £1 and when they don't repay it, write off half the money?

The sums involved are so huge and growing daily that its almost disney land, not euroland!

valval

if every one is borrowing off every one who does the money belong to ??. i just do not get it ??? perhaps they should all get together and decide to cut what they owe each other and start again if it all loans paul lends to fred fred lends to sam sam lends to gert etc then sally lends to paul so it just one complicated circles they all decide to write off what owed them to the amount they owe in the end the dept will dissapear ut there will be some cleaver clogs who will want his money back and his dept cancelled

Airwave!

Quite simple, those with money lend it to governments to keep the welfare system for the poor ticking over.

So, the rich and benefit cheats get richer and the poor stay as they are.

A oversimplified explanation, but that is the basis of life in Disneyland.

Shooter

I hope so

tkachev

The welfare systems not just for the poor. What about disabled and vulnerable people and those who are temporarily out of the job market due to a chronic illness?


Elizabeth