View Full Version : Should we be worried about Greece’s economic woes?
I thought that the EU/IMF (http://www.guardian.co.uk/business/imf) had offered a substantial rescue package to Greece which was supposed to have helped it through its short-term borrowing needs. :confused However it appears that investors have lost confidence now because Angela Merkel wanted stiffer conditions and opposed such a big bail-out. Greek borrowing costs have now been driven so high that a much bigger rescue package now looks necessary. :eek:
Although Britain is outside the Euro is there not a danger that a broader collapse in investor confidence could make it more expensive for the UK to continue its heavy borrowing too? :( Does anyone have any idea what steps can be taken to ameliorate any potential crisis?
Tubthumper
28-Apr-10, 23:09
Yes we should be worried because Greece will just be the start. The sharks are licking their lips waiting for another stock market collapse so they can grab more worthwhile shares at a knockdown price. The FTSE isn't a kick in the pants off where it was before the erse fell out it when the sub-prime poop hit the propeller, and nothing much has changed.
And just you wait till you see the carnage in the public sector (closely followed by the private sector once they realise that it's a great time to act the turd) as soon as the election's over. Whoever wins is going to get the blame for one almighty unloading of jobs right across the board.
If you've been lazy or militant, or are just quiet or unlucky, start looking elsewhere! :~(
Well said Tubthumper, my thoughts exactly.
While the rest of Eurozone will prop each other up, who will help us and other countries who steered clear of the euro.
Can't rely on USA anymore as they have their own problems?
Tubthumper
29-Apr-10, 19:11
Apparently (BBC News, Mervyn King to some US guru), the UK's economic position is now so perilous that whoever wins this election will find themselves unelectable for a generation. There's an incentive to make an effort. Also a warning to us all, fasten seat belts, rough ride ahead (Unless you're in the financial sector of course)!
I wonder if Clegg, Broon and Cameroon are vying with each other to make sure they do NOT to end up in the driving seat!
Well, we had a blast during the good times: How many of us actually realised they were good times though?!
Well said Tubthumper, my thoughts exactly.
While the rest of Eurozone will prop each other up, who will help us and other countries who steered clear of the euro.
Can't rely on USA anymore as they have their own problems?
Arent we paying to bail the Greeks out anyway?
Tubthumper
29-Apr-10, 23:02
I think we'll all end up propping each other up. The only ones who will be OK are the tax havens. :~(
I think this could be the end of the Euro.
Britain, Germany and France have subsidised the EU for long enough, but by not being in the currency we've avoided the bullet somewhat.
The Germans, by far the biggest economy in Europe have had reason to subsidise the EU to maintain it's status as the biggest exporter in the world. They've been hit hard and I doubt if they'll appreciate the devaluation of their currency caused by the Greeks mismanagement.
As if we haven't got enough problems in the country it looks as if we're going to get stung again and there's little we can do about it! [disgust]
According to this (http://www.telegraph.co.uk/news/worldnews/europe/greece/7696870/British-taxpayers-ordered-to-bail-out-euro.html) article in the Daily Telegraph we are bound by EU rules to contribute to the saving of the failing Euro. :confused
We're doooomed a' tell yeee, DOOOOMED! :~(
According to BBC TV news this morning regarding Euro woes, our stance is: It aint our problem. :Razz
riggerboy
09-May-10, 08:44
i have bigger things to worry about,
wonder if it`ll rain on tuesday,
i really hope it doeast rain on wednesday,
golf on thursday if the rain stays off,
you see it isnt worth worring about all the economic la-de-da due to the fact theres damn all we can do about it,
really do you think it will rain on tuesday the 18th ????
wonder if it`ll rain on tuesday,
Don't worry, weather forecast says snow not rain.
Don't worry, weather forecast says snow not rain.
Ooh! paint your balls daygrow RB :cool:
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