Labour have been ordered to bail out the Euro

Caporegime
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22 Nov 2005
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Well done guys,because not bailing them out certainly wouldn't hurt us in any way, in the slightest, would it.

Not trying to help stabilise Europe and watching Greece amongst others go down the pan(of who all together owe us considerably more than 13billion, which we'd never hope to see come back if Europe collapses) would be just about the daftest thing we could do.

whats the point in not joining the euro currency if the rest of europe acts like we have? its not our currency its value is not our problem acording to articles ive found only a small percent of our income is from exports to europe anyway
 
Soldato
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13 Jan 2004
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Can someone explain to me what measures are put in place with such a bailout to stop member countries receiving it from urinating it up the wall (again)?

Or is that a stupid question? Answer being - none?

Britain takes a hit to bail out some other mess-ups. Try justify public sector cuts and tax rises now - "Yeah well - sorry. Greece needed it"

Rich.
 
Associate
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Hmm,not to start a flamewar or political debat,but can someone explain me in a MATURE way(no cause the Euro suxorzz replies agreed?)why Great-Britain didn't want to be part of the Euro-zone?
 
Soldato
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Am I wrong in thinking this isn't a case of us bailing them out, so much as we are providing some security for the Eurozone countries making massive low interest loans to help out countries like Greece and its only if those struggling countries fail to repay that we pay out?
 
Associate
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The Guardian said:
Despite the political limbo in Britain, the chancellor, Alistair Darling, travelled to Brussels, anxious to forestall any attempt to manoeuvre the UK into footing part of the bill for shoring up the euro.

But he agreed with the other 26 ministers to more than double a European commission-administered fund for balance of payments support from €50bn (£43bn) to €110bn.

The extra €60bn will also be available to eurozone countries. In the worst-case scenario, Britain would still be liable for €15bn, according to the Treasury.

Is Darling having a ****ing laugh?
 
Soldato
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Hmm,not to start a flamewar or political debat,but can someone explain me in a MATURE way(no cause the Euro suxorzz replies agreed?)why Great-Britain didn't want to be part of the Euro-zone?


Two main reasons-

Loss of independance over governing the currency
Having currency thats well being is tied into potentially unstable (ie greece and other southern euro countries) states.

We have seen recently how the whole euro took a hell of a hammering becuase one country of many tried to fiddle its numbers and has a population that dont want to pay taxes and each year the euro zone widens to include more countries of dodgy financials while in the meantime despite struggling of late the pound is still considered a strong world wide currency and the UK still has a AAA rating a excellent reputition for debt repayments.
 
Capodecina
Soldato
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Worse yet is that the €372bn that Big Issue sellers are being forced to pay to the EU is going to be spent entirely on setting up extermination camps for kittens :rolleyes:

I think that the Daly Mail should stop trying to mislead the British public and tell us all what is really being planned by those crazy Krauts, Frogs, Wops & Dagos :mad:
 
Caporegime
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I think what's important here is to protect the Euro from the dysfunctional markets we are seeing at the moment. If the Euro goes down then it will end up costing Britain a lot more than the extremely limited exposure we have under this scheme.

Let's not also forget that as a member of the IMF, Britain already had existing obligations to support Greece and any other country in danger of defaulting on its debt. This EU bailout mitigates those obligations. What's I'd like to know is how much China and India are contributing to this bailout? They take so much from the EU, people's jobs etc, now they need to act like responsible global economies and give something back.
 
Man of Honour
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You all have to pay for club membership:

Britain's involvement in the bailout could cost taxpayers £15 billion. Britain was already exposed to a potential £7 billion cost under the original scheme and its ultimate liability under the enhanced plan will be a further £8 billion, Treasury officials say.

Source
 
Associate
Joined
30 Nov 2003
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2,211
This is a Eurozone mess that should be payed by Eurozone members.

It's also a mess that if it gets any worse will end up costing us much much more than a paltry £15 billion.

Put it in perspective before decrying the mute point that it's 'their mess' and 'they should deal with it'. It's their mess, yes, but it's in our kitchen.

EDIT: I don't understand why the Telegraph are peddling the claim that Darling 'agreed' to it. He agreed to it in the same way that I agree to be in the EU - he had no choice.
 
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Soldato
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What's I'd like to know is how much China and India are contributing to this bailout? They take so much from the EU, people's jobs etc, now they need to act like responsible global economies and give something back.

LOL, so if your local chippy goes out of business because a cheaper one opens three doors down, he should pay compensation to said owners of the first chippy?
 
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