Eurozone debt crisis

[superfrank]

Psssst France: Here Is Why You May Want To Cool It With The Britain Bashing - The UK's 950% Debt To GDP
http://www.zerohedge.com/news/psssst-fr ... 0-debt-gdp

While certainly humorous, entertaining and very, very childish, the recent war of words between France and Britain has the potential to become the worst thing to ever happen to Europe. Actually, make that the world and modern civilization. Why? Because while we sympathize with England, and are stunned by the immature petulant response from France and its head banker Christian Noyer to the threat of an imminent S&P downgrade of its overblown AAA rating, the truth is that France is actually 100% correct in telling the world to shift its attention from France and to Britain.

this island, which far more so than the US is the true center of the global banking ponzi scheme

tis very true. disgracefully the UK media allowed Gordon Brown etc. to get away with the suggestion that Britain was somehow the victim of the credit crunch rather than an integral cause of it.

[rubysglory]

Interesting interview about the Euro crisis with the head of a $30 billion hedge fund:

Great interview. He speaks very well and very sure. I like his statement ' the big money you make in trading is in the aftermath of crises ' .

rg

[CaerMyrddin]

Really impressive stuff. Are these numbers for real?

Yesterday there was a big buzz on the news, because your government was making plans to repatriate the citizens living in Portugal and Spain should the Eurozone collapse. Roughly one million people! Curiously, some of the people that were interviewed stated that they were calm as most of their money was in sterling pounds, whyle others said they wouldn't leave no matter what and had cut all finantial connection to the UK.

Strange times we are living in...

[Iron]

If that happened, I'd hope we renegotiate the treaty that says that EU nationals can live and work in the UK, as we'd be swamped!

This country can barely cope as it is, without another million people to provide healthcare and education to, and the increased competition for jobs won't help our unemployment problem...

Jeff

Yesterday there was a big buzz on the news, because your government was making plans to repatriate the citizens living in Portugal and Spain should the Eurozone collapse. Roughly one million people!

[CaerMyrddin]

I'm sorry Jeff, you missunderstood me, I was talking about the one million british citizens living in Portugal and Spain...

[Iron]

Fair comment - I stand corrected.

However, we quite possibly would get a huge influx of immigrants from EU countries if that were to happen.

Jeff

I'm sorry Jeff, you missunderstood me, I was talking about the one million british citizens living in Portugal and Spain...

[CaerMyrddin]

Probably not, as all borders would be closed in a rush to prevent capital and people moving.

Don't take this the wrong way, but you are probably overevaluating the chances of people wanting to go to the UK. My guess would be loads of people wanting to go to south america, north america and Australia. But let's hope none of these scenarios come true.

[Iron]

Probably not, as all borders would be closed in a rush to prevent capital and people moving.

Possibly, but that would be extremely difficult to achieve, especially as Western European countries currently have open borders.

And as we've seen in recent months, it's not like European leaders are very good at acting quickly and decisively!

Don't take this the wrong way, but you are probably overevaluating the chances of people wanting to go to the UK.

Maybe, but my guess is that most people in the Eurozone countries speak reasonably good English (correct me if I'm wrong), and if there are more jobs here than elsewhere, and better paid jobs, then the UK seems a good choice.

I'd have thought most people would struggle to get permits to work in Australia or North America, that most professions pay better in the UK than in South America.

I'm surprised we haven't had more immigrants from southern European countries. I get the impression that most of our EU immigrants come from Poland. My local Tesco Express even has a section dedicated to Polish food!

Jeff

[Iron]

Five Popular Misconceptions About The European Debt Crisis - http://www.forbes.com/sites/greatspecul ... bt-crisis/

[to75ne]

i just read your link jeff, now im really confused.

it reckons italy is not broke, indeed it collects tax and as a surplus.

what is this crisis?

back to my original bug bear. who exactly is broke?

who exactly owes how much to who?

who exactly as lent all the money to who?

where is all the money that as been lost gone to?

where is it. if exists it as to be somewhere, so who as got it all?

if it did exist, does it still exist?

if it still exists, where is it?

if no longer exists, why?

[enzabella2009]

This year alone have illegally landed in Lampedusa (35°30′56″N 12°34′23″E)(Italy), an island of 20.2 km2 , 300 immigrants a day. After having give them to eat, blankets and medical care (without any help from the EU), each one of them expressed the desire to live at the same address of JEFF..

[Iron]

Tony -

The short answer is that various countries have huge sovereign debts, combined with low or negative economic growth.

Let's say you have a huge credit card debt. The debt is growing each year, due to interest. Meanwhile, your boss isn't giving you a pay rise each year, so your debt becomes bigger and bigger relative to your income. If that situation continues, you may eventually have to go bankrupt or try to reach an agreement with your bank.

Jeff

[Iron]

I hope the Italian authorities said 'Vaffanculo!', out of respect to their British friends!

And if they have any sense, they won't want to live in my part of the country! Economically, it's dead, and the unemployment office is probably the biggest employer!

Jeff

This year alone have illegally landed in Lampedusa (35°30′56″N 12°34′23″E)(Italy), an island of 20.2 km2 , 300 immigrants a day. After having give them to eat, blankets and medical care (without any help from the EU), each one of them expressed the desire to live at the same address of JEFF..

[enzabella2009]

i just read your link jeff, now im really confused.

it reckons italy is not broke, indeed it collects tax and as a surplus.

what is this crisis?

back to my original bug bear. who exactly is broke?

who exactly owes how much to who?

who exactly as lent all the money to who?

where is all the money that as been lost gone to?

where is it. if exists it as to be somewhere, so who as got it all?

if it did exist, does it still exist?

if it still exists, where is it?

if no longer exists, why?

I don`t know if those you-tube videos will help to answear your question but it is still fascinating to hear some historical facts about a family which wealth is estimated today around 500 trillion dollars...
Sometimes the commentator refers to unproven facts, I do perceive his intention to emphasize some events in order to pass conspiracy theories about the rochshield family. However, most of the story he refer to, are actually historical and proven facts

http://www.youtube.com/watch?v=8F4IGwuKdUQ

http://www.youtube.com/watch?v=q2Yjoi2_ ... re=related

http://www.youtube.com/watch?v=47WM2Bhk ... re=related

[to75ne]

jeff,

still beyond me how anyone or organisation can run up such debts. im gonna watch enzabella2009 links maybe they will shed some light.

thanks for reply.


enzabella2009

thanks for links, i shall watch them and i hope they shed some light as i just dont understand how the europe/west some how got into this mess.

thanks.