Well you'll be happy then
That's way beyond me mate!
Greek government bonds would for example before the euro have to pay a yield or interest rate which was much higher for example than Germany which reflects the greater risk in investors buying those government bonds but what it does at the same time is stop the presiding government borrowing too much debt because the interest rates are too high. When the euro was introduced this disappeared as people incorrectly assumed that Greek government bonds were the same risk level as German ones, the Greek government found themselves to be able to borrow money at stupidly low levels and debt piled upon debt both nationally, at a corporate and personal level till 2009 when the speculators worked out that the EZ members were not going to share or pool the risk ( as you must so is you ah e a currency) and the rest now is history.
Eddie Izzard is a grade "A" wanker, forget the debate he's a prick.
Let's hope him and screechy Angela Eagle head the rest of the remain campaign!
Result will be a shoo in!
Got it, a Greek bond would (simplistically) have been a high interest loan to them thus scaring them into not borrowing too much. They might still have borrowed to much though, just not AS much as they did. So where's the money gone? have they blown it on infrastructure? welfare or what? That money's ended up somewhere right?
Eddie Izzard is a grade "A" wanker, forget the debate he's a prick.
Let's hope him and screechy Angela Eagle head the rest of the remain campaign!
Result will be a shoo in!
Agree with what you're probably thinking. That was before the referendum was called though. Nonetheless it was irresponsible. However nowhere near as bad as Eagle and Izzard!Spot on about Eddie and Angela Eagle was irritating too.
What about the Daily Telgraph reporter who tried to help Brexit by tweeting about the Paris bombings. What have you got to say about her?
Agree with what you're probably thinking. That was before the referendum was called though. Nonetheless it was irresponsible. However nowhere near as bad as Eagle and Izzard!
Eddie Izzard is a grade "A" wanker, forget the debate he's a prick.
Let's hope him and screechy Angela Eagle head the rest of the remain campaign!
Result will be a shoo in!
Not happening pal.
The money went to pay for all the increased public services, infrastructure projects, increased state pensions, increased civil service salaries - in essence it was like winning the lottery and everyone's lives got considerably better until someone stopped serving the drinks and Greece woke up with the mother of all hangovers.
Your first point is not quite true Blue Smarties. Defaulting to the WTO regime (if we could not get a trade agreement with the EU within 2 years of voting to leave) Would mean we faced substantial tariffs!
IIRC Greek interest rates dropped from 17% to 5% overnight when they joined the Euro. If you were Greek what would you have done? Correct, instant insane spending by Gov. and public alike. Why professional economists could not predict the result is beyond me, or maybe they just didn't care. Germany of course did rather well out of it by exporting big ticket items to them.
If Germany allows the EU to negotiate a trade deal that results in German car manufacturers having a 9.8% tariff imposed on their exports to the UK I'll go to work wearing a United top.You beat me to it mate......I read the report and before I got to the bottom I guess it was from a pro "leave" source and not independent one....was just about to say the same thing as you have done......WTO agreement is not a good thing....its bad.....the tariffs would be alot higher than they are now and have a massive impact on trade...Even those that vote "leave" say it could cost 7.4billion a year in tariff charges.....so there goes most of Boris Johnson's 10.6billion he says we going to save each year!...and those numbers are coming from his own supporters, so you can guess the actual figure could easily be higher and thats without taking in other negative factors....
Below is from The Telegraph.....and is a balanced view and just stating what both sides have said about these tariffs......Not trying to win any arguments, just wanted to pass onto the thread what it says!
"These WTO tariffs range from 32 per cent on wine, to 4.1 per cent on liquefied natural gas, with items like cars (9.8 per cent) and wheat products (12.8 per cent) somewhere in between.
John Springford, an economist with the Centre for European Reform, the total cost of those tariffs would be large, ranging from a 2.2 per cent of GDP (£40 billion) to 9 per cent.
Business for Britain, which campaigns for exit, estimates that at worst, tariffs would cost British exporters just £7.4 billion a year and says the UK would save enough on EU membership fees to be
able to compensate exporters for that"
If Germany allows the EU to negotiate a trade deal that results in German car manufacturers having a 9.8% tariff imposed on their exports to the UK I'll go to work wearing a United top.
It aint happening so no need for me to infect myself ;). Honestly, you'd have to be supremely gullible to believe these tariffs are even remotely on the cards.I agree mate, not likely.....but unless you can guarantee 100% that before you vote, thats a unlikely but possible risk you taking......(hope you got that rags shirt ready, just in case!;)
If Germany allows the EU to negotiate a trade deal that results in German car manufacturers having a 9.8% tariff imposed on their exports to the UK I'll go to work wearing a United top.