Supernorm wrote: British, we've been independant since......... I don't know, possibly the Norman invasion, and we'll never be a little cog in someone else's wheel
http://www.taxpayersalliance.com/termsofendearment.pdf
Vampire wrote:I think with the Euro you have a classic example of what happens when politicians try to put together a politically motivated economic construct without understanding economics.
I said at the time that it was a big risk to create a single currency and monetary policy for so many countries all with different economies, interests, cultures - and without proper alignment of their economic cycles or fiscal regimes. Funnily enough, the ERM debacle in the UK in the early nineties provided an indication of the sort or problems this can create (albeit the ERM wasn't a single currency). The UK Government back then effectively pegged the pound sterling to the Deutschmark at a time when Germany needed higher interest rates to attract capital inflows for re-unification and the UK needed lower rates to fight recession. The result was that the UK's economy was damaged by those higher rates (its recession more painful than it needed to), whilst your Government lost billions in a futile attempt to defeat the currency speculators by buying over-valued pounds!
Similarly, some (agree not all) of the current problems with the Euro are the result of a single monetary policy for countries with different needs and fiscal disciplines. One of the reasons Greece and Italy were able to rack up so much debt is because they benefited from the loose monetary policy that wouldn't have been available to them if they'd had their own currency and their own central bank. I guess now this error of construct is laid bare - the Euro is at a crossroads. It either needs to break up (to a greater or lesser extent), or it needs a fiscal union to go with the monetary union. I don't think muddling through will be an option much longer.
SimonB wrote:Have to agree with both Vampire and Topbin.
In order to make the Euro work there needs to be a centralised fiscal policy that all countries have to adhere to and an acceptance that the richer countries will have to subsidise the poorer countries.
Ponte wrote:SimonB wrote:Have to agree with both Vampire and Topbin.
In order to make the Euro work there needs to be a centralised fiscal policy that all countries have to adhere to and an acceptance that the richer countries will have to subsidise the poorer countries.
and the chances of that happening are?
burnleyinexile wrote:Burnley is full of foreigners, don't want 'em, don't need 'em. Wogs start at Turf Moor
SimonB wrote:Have to agree with both Vampire and Topbin.
In order to make the Euro work there needs to be a centralised fiscal policy that all countries have to adhere to and an acceptance that the richer countries will have to subsidise the poorer countries.
jackos wrote:SimonB wrote:Have to agree with both Vampire and Topbin.
In order to make the Euro work there needs to be a centralised fiscal policy that all countries have to adhere to and an acceptance that the richer countries will have to subsidise the poorer countries.
I don't think many people in Europe would argue with you on that, I would object to anyone lifting Britain as a shining example of how things should be done outside the single currency... Britain is becoming a nation of finger pointing slobs, I know that doesn't go for the vast majority of Brits, but it's sickening to see how many people are happy to sit on their arses n blame some other cunt for their woes.
SmithyHK wrote:jackos wrote:SimonB wrote:Have to agree with both Vampire and Topbin.
In order to make the Euro work there needs to be a centralised fiscal policy that all countries have to adhere to and an acceptance that the richer countries will have to subsidise the poorer countries.
I don't think many people in Europe would argue with you on that, I would object to anyone lifting Britain as a shining example of how things should be done outside the single currency... Britain is becoming a nation of finger pointing slobs, I know that doesn't go for the vast majority of Brits, but it's sickening to see how many people are happy to sit on their arses n blame some other cunt for their woes.
Finger pointing slobs is a bit too rich for me. If you mean this as being critical, even cynical by nature, this attribute is to be encouraged in my opinion.
Crunch time definitely is coming. Those states currently straddling the line in terms of deeper involvement in Team Europe are now being presented with a more extreme choice - basinally all-in or fold.
With monumental differences remaining between menber states in terms of legislature, singular interests, social policy, historical and cultural differences - a closer union, monetary or otherwise, likely isn't workable right now.
For me the group breaking into smaller, like-minded factions may not be the worst option presently on offer.
Mustafaster wrote:A lot is made of the differences between European countries and there are some important ones.In terms of Western Europe it really comes down to one major difference. If you draw a line demarcating the limits of the Roman Empire you find a pretty close realtion between Latinate and Germanic Europe. There are other difference obviously but this is the big one. It's where all the major wars have been fought and where all the cultural differences are.
However over the 2000 years since all of Europe has also had a lot in common historically, above all war.
I think thta what unites us is more important than what divides us. I don't see how a Balkanisation is in anyone's interests. Yes the Euro is in deep shit and may or may not see off the current problems (I think it will, might be wrong), but a break up of the EU would be disastrous imo.
Europe needs more integration, not less.
AndyPaul wrote:burnleyinexile wrote:Burnley is full of foreigners, don't want 'em, don't need 'em. Wogs start at Turf Moor
Corrected it for you mate.

WHITETHROUGH wrote:As for more Europe...give me a break. There is a world out there to trade with and as a country that is where we should be looking. With hindsight we effectively turned our backs on the Commonwealth when we turned to Europe with the vote in 75, but that is where we should be looking again.
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