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Portugal ask for an EU Bailout

The UK are very clever because nobody can call in the debts! There are too many assets to write off so it's the same reason that Manchester United are still trading!
 
There goes the neighbourhood...

Its rather unfortunate what is happening to these smaller European economies, they are not flexible enough to adapt/ change industries, and their publics will basically veto anything that causes significant short-term financial pains, even if it were for long term security

At least the UK has the finance industry (for what its worth atm), the motor industry, tourism and to an extent the North Sea oil to stand on, Portugal tourism but not so much
 
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At least the UK has the finance industry (for what its worth atm),
That's the 64 trillion $ question.

London based banks caused a lot of this ****, especially through insuring fraudulent financial products. AIG issued most of its stuff through the London office.

But the states - California, Ireland, Greece, Portugal, all of them - need the bogus accounting to pretend they can keep borrowing more than they earn. The only exception is Iceland - the people made an offer the politicians couldn't refuse, and I expect they will do very nicely for generations. For the rest of us it will end badly, but because of money printing and false accounting, it's impossible to say when or how.

In the meantime, please realise that the rising price of fuel and food and clothing is all down to the bailout of the banks. They got off free with their bad bets on residential and commercial property, and now they're speculating in commodities like it's Las Vegas all over again.

I don't wish them all the best.
 
Banking should be nationalized like in China, all you need is the right people, with the right vision in mind in charge

Not David 'the tory (*nt' Cameron
 
The "Tory (unt" has nothing to do with banks. That's the chancellor who directs the Bank of England therefore the rest of the city.

Who whas the chancellor which released all the restrictions and caused the **** up in the first place, you ask?

GordonBrown-L.jpg


Oh yeah.

Scottish unelected c*nt.
 
(Apparently there is a single button somewhere on the left of my keyboard that acts as Alt-F4) :(

What a dour man Brown was, was the complete opposite of inspiring, and listeing to his speeches caused me to cringe every time

I'm interested to hear that the Chancellor directs the rest of the city, is this city London or the City of London, or another one all together? ^_^

Oh, and my post was refering to what should happen in the future, as a result of what has happened in the past. Cameron is PM, and whoever he supports would inevitably (sp.) become Chancellor
 
You can't blame the current lot for the **** they inherited though.

Especially when that bunch of socialist fuckwits inherited a very healthy economy and then single handedly ruined all industry.
 
You can't blame the current lot for the **** they inherited though.

Especially when that bunch of socialist fuckwits inherited a very healthy economy and then single handedly ruined all industry.

I think just because you are aware that I am no fan of the conservatives that you are imagining some things, where have I blamed the current situation of the conservatives? I am saying they are not the right people to take us forward, or at least not as well as other might.

I see that the myth of Labour 'inheriting a healthy economy' is still alive and kicking
Whilst national debt may have increased overall, just prior to the recession the level of national debt as a percentage of GDP had decreased significantly since they came into power.
Now again, I'm not saying that Brown did a good job, but considering that the UK still has/had a lower percentage of national debt in comparison to other countries like the US and Japan, I think we can consider ourselves lucky, because we could be much worse off.

What industries do you think the UK can/could remain globally competitive in? Few European countries are withstanding the upsurge in production in 3rd world and EE countries, it was inevitable for ours to move to a service based economy


I've never had much of a debate about the UK economy before, so excuse me if you feel my points are amateur and invalid
 
There's a world of difference between a struggling economy, a healthy economy and a bullshit boom - We now have a struggling economy where everybody (except Tesco, Piers Morgan and Rupert Murdoch) are broke.

In 1992 when the UK told Kinnock to f-off, we had a healthy economy. People were slightly worried, but everybody just about had enough to get by and they made sure they lived within their means. If you can't afford it, you don't buy it.

In 1997 onwards, Brown encouraged every arsehole to go out and borrow money they couldn't afford to buy crap they didn't need. The national debt rocketed from something like a few hundred quid per person to £15,000 per person. It was a bullshit bubble based on spending money people didn't have. That's why he de-restricted the banks, opened every floodgate, sold every asset and sent the country up **** creak without a paddle to maintain this "amazing recovery". Not as if he gave a toss either. He had lined his nest and had a career of after-dinner speaches at £100,000 per night to look forward to. Not to mention an an army of northeners who'd cheer Adolf Hitler if the Austrian had ever worn a red roset.

The bloke was so dastardly, he used Blairs charm to get elected because he knew full well that the vote would never have gone his way otherwise. So not only is he dishonest, he's deceitful.

Then to cap it all off, he appointed Alastair Darling as his successor. And what was Darlings way of stimulating the economy? Get rid of the 10p bracket and introduce a 50% bracket. Screw the rich (Northerners say "Yay"!) and while they're at it, screw the poor too! (Northerners look puzzled). Oh, and he also introduced the mickey mouse Car scrappage scheme. Which maybe would have been a good idea except he'd screwed every penny out of everyone on the land rich or poor, so nobody could afford a car anyway, £2000 discount or not.

Anyway, I shall be drawn into this debate again as it invariably hives me a hernia.
 
What you have said it true, but almost everyone else was doing it, the only major economy (China has owned everyone, so they don't really count) that remained conservative during the boom was Germany, and unfortunately they are now paying for making the right decisions during that period, with the EU countries coming gubbering. And as such we are not the only country with a struggling economy, ala the topic of the thread

An interesting note, although the interest is in the short-term more servicable, is that Japan has a national debt in excess of 200% of GDP, depending on whose figures you go by that is either 3 or 2 times more than the UKs level of debt, so again we could be a whole lot worse than our immediate competitors (not that it makes it right of course)

I can't imagine Brown being that sinister, there have been plenty of cartoons showing him chortling with glee in an office or so, but whenever I try to imagine it I just laugh
A politician being selfish and decietful, your having a laugh surely?

There already is an army of people in Scotland who would support Adolf Hitler if he was around, indeed a lot of them probably have shrines in their pubs dedicated to him
They often wear blue tops, with a badge with a blue football and a red lion on it, it also includes the word 'Ready' as its motto/ slogan. They often sing songs about the deaths of catholics and 'funny' major disasters
 
Irrespective of all this, I see we pumped £700m into Pakistan's education system the other day when we're charging even the poorest students £9000 a year to go to university over here.

It's things like that that get on my nerves.
 
It is indeed. But we're cutting education budgets at all ages and yet we give the best part of a billion to another country. That's not just a Condemn failing, because Labour did it all the time as well, I remember that very vividly, but to say "there's no money" and then do that is extremely, extremely annoying.
 
The "Tory (unt" has nothing to do with banks. That's the chancellor who directs the Bank of England therefore the rest of the city.

Who whas the chancellor which released all the restrictions and caused the **** up in the first place, you ask?

ronthatchDM0102_468x397.jpg


Oh yeah.

Scottish unelected c*nt.


Fixed it for you.

Your hatred of the left is amusing, but they are NOT the responsibles of the crisis we are in now. France is in the same worrisome state, as are a lot of other countries, and they are not governed by leftists. Moreover, deregulation and self policing are typically right-wing Chicago-school concepts.
 
It is indeed. But we're cutting education budgets at all ages and yet we give the best part of a billion to another country. That's not just a Condemn failing, because Labour did it all the time as well, I remember that very vividly, but to say "there's no money" and then do that is extremely, extremely annoying.

Agreed on that point entirely. ******** to others IMO, sort your own house out first.
 
Fixed it for you.

Your hatred of the left is amusing, but they are NOT the responsibles of the crisis we are in now. France is in the same worrisome state, as are a lot of other countries, and they are not governed by leftists. Moreover, deregulation and self policing are typically right-wing Chicago-school concepts.

Thatcher was the PM in the 80's, not the Chancellor in 2010. Good effort at trolling though.

The argument isn't about the leftists, it's about the free spending f*ckwit that Brown who's completely **** all over the economy with debts that my grand kids will still be paying. If I'm enough of a ******* to bring them into the world. Whether or not it also happens every other time the "left" party has been in power is neither here nor there.

As for the left-right theory, that's doesn't matter now anyway. Every politician is centre these days, they just argue who's more centre then the other like a giant willy waving contest.
 
:huh:

Posting a photo of Thatcher and calling me a right-wing Facist is hardly stimulating debate.

The problems in the UK boil down to the fuckups the last lot caused by their own wrecklessness. Germany pre-prepared and were not as well off during the boom. Now however they've well and truly got the last laugh as they could hold the whole of Europe over a barrel if they wanted.
 

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