Euro cannot last

Welcome to The Arab League, one of the longest established Dundee United Football forums, with many members from the old ArabFC forum.

New members are always welcomed, so to join the debate, just sign up - registration is simple, fast, and completely free.

Join The Arab League!

If you're already a member please log in:

Pages:
1
2

Euro cannot last
Tweet Topic Started: Jun 21 2011, 12:17 PM (1,593 Views)
findus	Jun 21 2011, 12:17 PM Post #1
Jerry Kerr Posts: 4,444 Group: Members Member #2 Joined: September 10, 2010	http://www.telegraph.co.uk/news/politics/8588047/Treasury-plans-for-Greece-to-go-bust.html Quote: Treasury plans for Greece to go bust Treasury ministers have admitted that the Government is drawing up contingency plans for a Greek bankruptcy after being warned by a former foreign secretary that the euro “cannot last”. ack Straw, the former Labour foreign secretary, said that a “quick” end to the single currency was now better than a “slow death”. In an emergency debate, senior MPs from all parties demanded that Britain stand aside from a new rescue package for Greece and push for the country to leave the euro. Seems as I'm way out of touch with the ins and outs of whats going on as reading this was a very large WTF? experience. Likely or journalists shit-stirring?



The Eggman	Jun 21 2011, 12:39 PM Post #2
Tommy McLean Posts: 2,119 Group: Members Member #5 Joined: September 10, 2010	findus Jun 21 2011, 12:17 PM Likely or journalists shit-stirring? Maybe Straw as well.



Setenza	Jun 21 2011, 12:54 PM Post #3
Knitting with only one needle Posts: 6,057 Group: Admin Member #7 Joined: September 10, 2010	I've read few months ago that it might be an option. Their debt is expensive and getting worse, not better. Can't go on much longer. Seems like it might be the best way out for them. Carrying on with years and years and years of being not at all prosperous won't be appealing. Letting down the banks and loans rather than the people will be attactive. Some way of restructuring is needed. With it being all tied into the Euro and the EU, will be interesting to see how it all pans out. So far, been trying to hold it all together, but might have to let something go to keep the core together.



Naebody	Jun 21 2011, 01:24 PM Post #4
Twat Posts: 5,210 Group: Members Member #20 Joined: September 13, 2010	findus Jun 21 2011, 12:17 PM Likely or journalists shit-stirring? Well, let's look at the first sentence. Quote: "Treasury ministers have admitted ..." ... because they were asked ... Quote: "that the Government is drawing up contingency plans for a Greek bankruptcy" It's a contingency plan. Quote: "after being warned by a former foreign secretary that the euro “cannot last”. That bit's not true. The contingency plan wasn't drawn up because Jack Straw said something yesterday. That's absurd. What we have here is the classic "when did you stop beating your wife?" line of questioning. Quote: Hack: "Does the Treasury have a contingency plan for a Greek bankruptcy?" Treasury flak: "Yes / no" Hack: "Zoinks! What a scoop!" Will Greece default? Probably. Will it be a disorderly default? Possibly. Would a disorderly default push Greece out of the euro? Probably. Would that bring the euro to an end? Not alone, no. It might spur the elections that would presage the end of the euro, but that's a separate point. (FT)



whatsthatonyourback	Jun 21 2011, 04:09 PM Post #5
Waldo Jeffers Posts: 4,443 Group: Members Member #3 Joined: September 10, 2010	Naebs reflects my views on this one. It's been apparent for quite a while that Greece will default. They probably should have done it much sooner, but that would not have suited the rest of the Euro zone, who have rather forced them to go through the motions of attempting to deal with it. But they're going to default in some way, and the interesting thing will be whether the banks take a haircut (get me!) or another pile of debt is taken on by other states.



Clarkie	Jun 21 2011, 08:07 PM Post #6
Mac an t-stronaich Posts: 717 Group: Members Member #12 Joined: September 10, 2010	If I remember right there was a lot of controversy when Greece was allowed to join in the first place as they had not met the targets for inflation and government debts and deficit.



whatsthatonyourback	Jun 22 2011, 07:11 AM Post #7
Waldo Jeffers Posts: 4,443 Group: Members Member #3 Joined: September 10, 2010	Clarkie Jun 21 2011, 08:07 PM If I remember right there was a lot of controversy when Greece was allowed to join in the first place as they had not met the targets for inflation and government debts and deficit. They certainly lied about those figures for government debt.



Setenza	Jun 22 2011, 10:09 AM Post #8
Knitting with only one needle Posts: 6,057 Group: Admin Member #7 Joined: September 10, 2010	whatsthatonyourback Jun 22 2011, 07:11 AM Clarkie Jun 21 2011, 08:07 PM If I remember right there was a lot of controversy when Greece was allowed to join in the first place as they had not met the targets for inflation and government debts and deficit. They certainly lied about those figures for government debt. You'd think that kind of deception would result in jail.



whatsthatonyourback	Jun 22 2011, 12:11 PM Post #9
Waldo Jeffers Posts: 4,443 Group: Members Member #3 Joined: September 10, 2010	Setenza Jun 22 2011, 10:09 AM whatsthatonyourback Jun 22 2011, 07:11 AM Clarkie Jun 21 2011, 08:07 PM If I remember right there was a lot of controversy when Greece was allowed to join in the first place as they had not met the targets for inflation and government debts and deficit. They certainly lied about those figures for government debt. You'd think that kind of deception would result in jail. If you were hopelessly naive, sure. I don't think there's a law against lies. To have one, politicians would have to create the law for starters.



Setenza	Jun 22 2011, 12:27 PM Post #10
Knitting with only one needle Posts: 6,057 Group: Admin Member #7 Joined: September 10, 2010	whatsthatonyourback Jun 22 2011, 12:11 PM Setenza Jun 22 2011, 10:09 AM whatsthatonyourback Jun 22 2011, 07:11 AM Clarkie Jun 21 2011, 08:07 PM If I remember right there was a lot of controversy when Greece was allowed to join in the first place as they had not met the targets for inflation and government debts and deficit. They certainly lied about those figures for government debt. You'd think that kind of deception would result in jail. If you were hopelessly naive, sure. I don't think there's a law against lies. To have one, politicians would have to create the law for starters. I'm not expecting any action, but if it were a company, and it was close to bankruptsy, and there had been lies about debt before, there might be plenty calls for jail.



whatsthatonyourback	Jun 23 2011, 08:57 AM Post #11
Waldo Jeffers Posts: 4,443 Group: Members Member #3 Joined: September 10, 2010	Setenza Jun 22 2011, 12:27 PM whatsthatonyourback Jun 22 2011, 12:11 PM Setenza Jun 22 2011, 10:09 AM whatsthatonyourback Jun 22 2011, 07:11 AM Clarkie Jun 21 2011, 08:07 PM If I remember right there was a lot of controversy when Greece was allowed to join in the first place as they had not met the targets for inflation and government debts and deficit. They certainly lied about those figures for government debt. You'd think that kind of deception would result in jail. If you were hopelessly naive, sure. I don't think there's a law against lies. To have one, politicians would have to create the law for starters. I'm not expecting any action, but if it were a company, and it was close to bankruptsy, and there had been lies about debt before, there might be plenty calls for jail. That's true, but does it happen often that people trading while knowing they're bankrupt actually go to jail? I don't know, but have always assumed it was a mostly unenforced law like perjury.



Setenza	Jun 23 2011, 10:31 AM Post #12
Knitting with only one needle Posts: 6,057 Group: Admin Member #7 Joined: September 10, 2010	whatsthatonyourback Jun 23 2011, 08:57 AM Setenza Jun 22 2011, 12:27 PM whatsthatonyourback Jun 22 2011, 12:11 PM Setenza Jun 22 2011, 10:09 AM whatsthatonyourback Jun 22 2011, 07:11 AM Clarkie Jun 21 2011, 08:07 PM If I remember right there was a lot of controversy when Greece was allowed to join in the first place as they had not met the targets for inflation and government debts and deficit. They certainly lied about those figures for government debt. You'd think that kind of deception would result in jail. If you were hopelessly naive, sure. I don't think there's a law against lies. To have one, politicians would have to create the law for starters. I'm not expecting any action, but if it were a company, and it was close to bankruptsy, and there had been lies about debt before, there might be plenty calls for jail. That's true, but does it happen often that people trading while knowing they're bankrupt actually go to jail? I don't know, but have always assumed it was a mostly unenforced law like perjury. There's trading while bankrupt, then there's going bankrupt due to decisions/lies while trading.



whatsthatonyourback	Jun 23 2011, 11:37 AM Post #13
Waldo Jeffers Posts: 4,443 Group: Members Member #3 Joined: September 10, 2010	Setenza Jun 23 2011, 10:31 AM whatsthatonyourback Jun 23 2011, 08:57 AM Setenza Jun 22 2011, 12:27 PM whatsthatonyourback Jun 22 2011, 12:11 PM Setenza Jun 22 2011, 10:09 AM whatsthatonyourback Jun 22 2011, 07:11 AM Clarkie Jun 21 2011, 08:07 PM If I remember right there was a lot of controversy when Greece was allowed to join in the first place as they had not met the targets for inflation and government debts and deficit. They certainly lied about those figures for government debt. You'd think that kind of deception would result in jail. If you were hopelessly naive, sure. I don't think there's a law against lies. To have one, politicians would have to create the law for starters. I'm not expecting any action, but if it were a company, and it was close to bankruptsy, and there had been lies about debt before, there might be plenty calls for jail. That's true, but does it happen often that people trading while knowing they're bankrupt actually go to jail? I don't know, but have always assumed it was a mostly unenforced law like perjury. There's trading while bankrupt, then there's going bankrupt due to decisions/lies while trading. Aren't those two quite separate things? Trading whilst knowingly insolvent is a crime, but making decisions that result in bankruptcy are not, as far as I know. Fraud is something different again, but whether it results in your bankruptcy or not seems immaterial.



Setenza	Jun 23 2011, 05:41 PM Post #14
Knitting with only one needle Posts: 6,057 Group: Admin Member #7 Joined: September 10, 2010	whatsthatonyourback Jun 23 2011, 11:37 AM Aren't those two quite separate things? Trading whilst knowingly insolvent is a crime, but making decisions that result in bankruptcy are not, as far as I know. Fraud is something different again, but whether it results in your bankruptcy or not seems immaterial. Yeah, and it probalbly goes against my point of jail... but reason I said was that I don't know if greece could be called bankrupt at the time of the deception, even if they were doomed.



Setenza	May 11 2012, 09:51 AM Post #15
Knitting with only one needle Posts: 6,057 Group: Admin Member #7 Joined: September 10, 2010	Is this a slower death than even Rangers? France seems like it's waivering on the old plan, and Greece seems to contunially be trying to elect people to make a decision. Maybe they could do a NewCounty solution? New Greece?


Go to Next Page
« Previous Topic · Off Topic · Next Topic »

Pages:
1
2