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Greece is the word

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little_aIconGreece is the word18-06-2015 @ 18:44 
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1.5 billion EU due from our Mediterranean cousins to the IMF with no apparent grace period or they go bankrupt and potentially slip from the EU. Proposed referendum on United Kingdom membership of the European Union is still heavily discussed. Do we stay or do we go now?
lukiIcon...18-06-2015 @ 19:14 
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Post Edited: 18.06.2015 @ 19:33 PM by luki
IMF has admitted austerity doesn't work in a depression, see www.irishexaminer.com/ireland/imf-we-got-effect-of-austerit...

This is IMF/ECB trying to perform a politically right wing coup against a democraticly elected socialist government http://www.ft.com/cms/s/0/95afe0c6-14ea-11e5-a51f-00144feabdc0...

I think this sums up the Greece argument
www.davidmcwilliams.ie/2015/03/30/why-are-we-sacrificing-gr...

*I think we'll see Greece default, then Russia offer a BRICKS bank loan to setup a pipe to import gas to the EU via Greece to get around sanctions. Greece will not leave EU but will default ECB/IMF loans and leave the Euro. http://rt.com/business/268060-russia-gas-germany-europe/
WILLSANIcon...18-06-2015 @ 20:28 
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luki said:IMF has admitted austerity doesn't work in a depression, see www.irishexaminer.com/ireland/imf-we-got-effect-of-austerit...

This is IMF/ECB trying to perform a politically right wing coup against a democraticly elected socialist government http://www.ft.com/cms/s/0/95afe0c6-14ea-11e5-a51f-00144feabdc0...

I think this sums up the Greece argument
www.davidmcwilliams.ie/2015/03/30/why-are-we-sacrificing-gr...

*I think we'll see Greece default, then Russia offer a BRICKS bank loan to setup a pipe to import gas to the EU via Greece to get around sanctions. Greece will not leave EU but will default ECB/IMF loans and leave the Euro. http://rt.com/business/268060-russia-gas-germany-europe/


Good post. But the third article would seem to contradict the premise of second? (Although I can't read the ft one). I would agree with the McWilliams one that the conflict is not that of left vs right but 'insiders' vs 'outsiders'. If syriza is removed from power their replacements will more than likely be from the far right, with much the same results.

My take on it is that the inevitable EU exit of Greece is just the first step in the implosion of the EU. I am hoping that this will be apparent enough to the british public by the the time the referendum comes around that it will be a no brainer exit vote. The treatment of the Greek people has shown the true colours of the power behind the EU project - they are for the elite and the banking system, not for the people.
shortandmightyIcon...18-06-2015 @ 21:27 
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To be honest I think it was inevitable, it was just a case of which country was going to fail first. To me, the whole EU model and more specificaly the Euro single currency cannot work, due to the large differences in GDP of economies.
WiegieboardIcon...18-06-2015 @ 21:37 
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I think that the media of the different countries of the U.K. and even in some cases the north and the south of the same countries will cause a split vote on the E.U. for the U.K.

People keep reading papers and voting based on them. This causes a problem for the so called unity of the kingdom when the media people base their votes on tell polar opposite stories in different places.
lukiIcon...18-06-2015 @ 22:35 
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WILLSAN said:
(Although I can't read the ft one).

If you look at the ft in "incognito" don't track cookies mode you get free articles.
CuddlesIcon...19-06-2015 @ 07:59 
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shortandmighty said: To me, the whole EU model and more specificaly the Euro single currency cannot work, due to the large differences in GDP of economies.


Do you think the UK model (exactly the same principles as the EU and Eurozone ie no internal protectionism, common external protectionism, free movement of goods, services, people, single currency etc) cannot work then? Or is it your argument limited to the EU? Per capita levels just in England alone are drastically different across the regions.

Are these principles not exactly the same as in the USA? which, in many ways, is similar in operation to the EU? Only with states rather than countries.
OwenLIcon...19-06-2015 @ 08:05 
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im going to crete in 2 months, will i be okay? lool
kirkynickIcon...19-06-2015 @ 08:14 
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OwenL said:im going to crete in 2 months, will i be okay? lool


No, you'll get sunburn.

It was well hot when I went last year.
lukiIcon...19-06-2015 @ 08:23 
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OwenL said:im going to crete in 2 months, will i be okay? lool

Everything will be very cheap
OwenLIcon...19-06-2015 @ 08:25 
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luki said:
Everything will be very cheap


this is good, sunburn isnt as good but ill cope.

Should we take cash only?
shortandmightyIcon...19-06-2015 @ 09:50 
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Cuddles said:
Do you think the UK model (exactly the same principles as the EU and Eurozone ie no internal protectionism, common external protectionism, free movement of goods, services, people, single currency etc) cannot work then? Or is it your argument limited to the EU? Per capita levels just in England alone are drastically different across the regions.
Are these principles not exactly the same as in the USA? which, in many ways, is similar in operation to the EU? Only with states rather than countries.


I probably didn't come across as I thought. I am actually a big supporter of the EU in terms of free movement of goods, services etc. although I think it has too much say over certain areas of government policies. It is the Euro as a currency that doesn't work. I don't really think that you can compare UK and USA to the Eurozone, the former were established and set up in a completely different era.
CuddlesIcon...19-06-2015 @ 10:10 
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shortandmighty said:
I don't really think that you can compare UK and USA to the Eurozone, the former were established and set up in a completely different era.


But why does the era matter to the workings of a single currency? The issue, according to many, is economic divergence between member states, making the effective use of monetary policy for all virtually impossible. That has nothing to do with era.

The economic divergence between states in the US can be huge. Some states' GDP per capita is twice that of others.

I am not, by the way, in favour of a single currency. Just always interested in discussing economics.
aaron_lohanIcon...19-06-2015 @ 10:30 
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I dont think it is just economic divergence that is an issue in the EU, the problem is some countries trade cycles are different e.g. Britain and Germany, one tends to be in a boom while the other is in a recession. A monetary policy that helps one will hinder the others. I also think issues like corruption and different fiscal policies that different governments adopt cause difficulties. Not to say it economic union cant be done, but it will take longer than people expect.
CuddlesIcon...19-06-2015 @ 10:56 
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aaron_lohan said:e.g. Britain and Germany, one tends to be in a boom while the other is in a recession


Are you sure about that?

1993 and 2008 are the only years where this has happened in the last 25, and these were both situations where there were Europe wide recessions, we just recovered at slightly different rates.

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