What does it all mean then?

Greece is split on the EU though. For a country in such strife you may wonder why many want to stay in the EU. And why the government is desperate to stay in. The answer is that left on their own they know as does everyone else that they'd go pop within two weeks....

Germany knows this too.

If / when the Greeks exit the euro and return to Monopoly money it's expected that the value of that currency will drop roughly 75%

 

This means that the £3b worth of exports that we send them each year (pharmacuticals etc) will cost them x4 in real terms

 

Added to the fact that their banking system will have melted down and they will be in an even bigger mess for some time to come it's highly likely that they will be unable to afford a good proportion of our exports to them

 

Don't forget the knock on effect that it would have with other eurozone countries that are bigger importers of our goods

 

All in all when the Greek exit happens (and it will happen IMO, just not now) it will be bad news for ours and everyone else's economy's

 

in the meantime if it's better for all concerned to kick the can down the road another year or two so we can all get our houses in better order ready for the exit then so be it

 

If that means we fund some relatively small loans via the IMF with little chance of losing any money at all (being a preferred creditor) then it's a small price to pay for short term stability

Europhile peddling the sky will fall out nonsense

If / when the Greeks exit the euro and return to Monopoly money it's expected that the value of that currency will drop roughly 75%

 

This means that the £3b worth of exports that we send them each year (pharmacuticals etc) will cost them x4 in real terms

 

Added to the fact that their banking system will have melted down and they will be in an even bigger mess for some time to come it's highly likely that they will be unable to afford a good proportion of our exports to them

 

Don't forget the knock on effect that it would have with other eurozone countries that are bigger importers of our goods

 

All in all when the Greek exit happens (and it will happen IMO, just not now) it will be bad news for ours and everyone else's economy's

 

in the meantime if it's better for all concerned to kick the can down the road another year or two so we can all get our houses in better order ready for the exit then so be it

 

If that means we fund some relatively small loans via the IMF with little chance of losing any money at all (being a preferred creditor) then it's a small price to pay for short term stability

 

Then so be it. Natural Market forces and all that.

I think people get a bit over excited when they start believing that they are paying for greeces bail out

They have a single currency in Europe. You know why the UK hasnt joined it? It is because if we did then the people on the stock exchange wouldnt be able to make money on the pound.

 

The reason we didn't join the Euro, although it would have suited most of the political class, is that the desperate psition we found ourselves in when in the ERM proved that the dangers could not be matches by the benefits (if any).

That day in 1992 when interest rates went up and up and up. I happened to be in a meeting with our Finance Director about something completely different, and every so often someone would burst in the say interest rates had just risen by another 2% (they got up to 15% iirc).

 

The so-called Big Bang of 27 October 1986 changed the Stock Exchange for ever.

Previously it had been a closed shop where transgressors (those who cheated to make too much money) were blackballed and excluded from the club.

Thereafter London was granted the prize position in Europe on the 24 hour market Tokyo-London-New York, but it meant that the Wall Street cowboys took over and the old boys retired with a packet. But NY traders are far from gentlemen (see the role of Goldman Sachs in the Greek debacle).

Theoretically the new system was better, but that really proved not to be the case. Money - it's a funny old game.

Agreed. Those Wars bankrupted Britain.

We tried that first time tound and look where that got us.

We tried that first time tound and look where that got us.

Please don’t start using facts it will only confuse him/her

Please don’t start using facts it will only confuse him/her

Confuse whom? Who are you referring to?

Overseas... I reckon you read the Daily Mail. At a push the Express.

 

What is your stance on Gypos

 

Who really killed Diana?

The reason we didn't join the Euro, although it would have suited most of the political class, is that the desperate psition we found ourselves in when in the ERM proved that the dangers could not be matches by the benefits (if any).

That day in 1992 when interest rates went up and up and up. I happened to be in a meeting with our Finance Director about something completely different, and every so often someone would burst in the say interest rates had just risen by another 2% (they got up to 15% iirc).

 

The so-called Big Bang of 27 October 1986 changed the Stock Exchange for ever.

Previously it had been a closed shop where transgressors (those who cheated to make too much money) were blackballed and excluded from the club.

Thereafter London was granted the prize position in Europe on the 24 hour market Tokyo-London-New York, but it meant that the Wall Street cowboys took over and the old boys retired with a packet. But NY traders are far from gentlemen (see the role of Goldman Sachs in the Greek debacle).

Theoretically the new system was better, but that really proved not to be the case. Money - it's a funny old game.

Yes this is part of, but not the only reason why the UK didnt stop pound sterling and move to the euro. There are a few factors. One of them was that after spending 6 billion pounds trying to keep it within the guidlines they saw as necessary for joining, the UK was forced to exit the program within two years after the Pound Sterling came under major pressure from Currency Speculators. There are several reasons.

Overseas... I reckon you read the Daily Mail. At a push the Express.

 

What is your stance on Gypos

 

Who really killed Diana?

What part of my friendly discussions caused your disparagement?

Yes this is part of, but not the only reason why the UK didnt stop pound sterling and move to the euro. There are a few factors. One of them was that after spending 6 billion pounds trying to keep it within the guidlines they saw as necessary for joining, the UK was forced to exit the program within two years after the Pound Sterling came under major pressure from Currency Speculators. There are several reasons.

 

They are one and the same event.

 

Another aspect is that Blair was desperately keen to join and Brown was determined to thwart him.

They are one and the same event.

 

Another aspect is that Blair was desperately keen to join and Brown was determined to thwart him.

You and Birch-Chorley know your stuff. What is the reason that Brown was determined to thwart him? That is interesting, I cant remember that.

You and Birch-Chorley know your stuff. What is the reason that Brown was determined to thwart him? That is interesting, I cant remember that.

 

Because he wanted to control all ecomonic matters and not submit to the PM who he considered junior to him.

Because he wanted to control all ecomonic matters and not submit to the PM who he considered junior to him.

That is highly entertaining and amusing. Very well written that, thank you. It is a wonderful world full of wonderful people.

That is highly entertaining and amusing. Very well written that, thank you. It is a wonderful world full of wonderful people.

Sarcasm doesn't bring anything to this board and makes you look a tit mate.

Sarcasm doesn't bring anything to this board and makes you look a tit mate.

I wasnt being sarcastic, it is genuine. I didnt know about it. The post that MalcolmW did educated me. I didnt know about that and the way he worded it was superb, I enjoyed it. I enjoy learning things. I do not like being rude to people and it upsets me if people ever think I am rude, because I rarely am. It would be a lovely world if everyone was nice to each other. I am watching at the moment a wonderful concert en France á Paris for the Bastille day celebrations. It is an outdoor concert next to the Eiffel Tower, they are saying half a million people are there but I dont think there are so many. But what a quality and wonderful concert in the beautiful Sunshine. In fact it has now gone dusk and la tour is lit up splendidly. It will be going on until half eleven. Vive la France. I am euro sceptic but I love Europe. Appologies if I came across as being sarcastic, I can assure I wasnt, I thank MalcomW for the story about Brown and Blair.

Edited July 14, 201511 yr by overseas

Try this educational video:

 

www.youtube.com/watch?v=lzAmhB55_-k

I've written to the Greek PM offering him a wage of 39 euros a week if he'll come and clean the Elgin Marbles for us.

 

Let's see how much he really wants to help his country shall we?

I've written to the Greek PM offering him a wage of 39 euros a week if he'll come and clean the Elgin Marbles for us.

 

Let's see how much he really wants to help his country shall we?

 

 

He'll negotiate hard with you, over a long period and settle on nothing less than 24 euros a week

He'll negotiate hard with you, over a long period and settle on nothing less than 24 euros a week

:lol:

 

Socrates taverna in Horwich are doing a Tsipras special deal - you sit at the table all night, get fed til you're fit to burst then sent home with the contents of the till.

 

Socrates taverna in Horwich are doing a Tsipras special deal - you sit at the table all night, get fed til you're fit to burst then sent home with the contents of the till.

 

Are you aware of the financial aspects of WWII between Germany and Greece?

 

Or the fact that reparations stopped after what the Germans regarded as a ful and final payment, whereas the Greeks saw it as a deposit?

 

Or that Germany sued for peace with the Allies but not with Greece?

Are you aware of the financial aspects of WWII between Germany and Greece?

 

Or the fact that reparations stopped after what the Germans regarded as a ful and final payment, whereas the Greeks saw it as a deposit?

 

Or that Germany sued for peace with the Allies but not with Greece?

That is very interesting. I havent heard about that and it sounds like it may throw light on the trouble that was going on in the Greece and Germany discussions in Athens. They kept bringing ww2 into it, and our news channels would never say what that was about.

There is rioting in Athens live on bbc news, anarchists, social workers, public, methodists etc petrol bombs. Greece is a happy country in the happy EU

There is rioting in Athens live on bbc news, anarchists, social workers, public, methodists etc petrol bombs. Greece is a happy country in the happy EU

 

The EU was a great socialist idea, promoted by France because the majority of their  population in the 1960's and and 70's was part time back garden farmers. Then the Germans saw the long game for their population and industry based psyche. We entered because we felt we were being left behind. (Big mistake!)

 

The chickens are coming home to roost. its Greece today, Spain by 2020.

Edited July 15, 201511 yr by bgoefc