Eurozone will collapse...

Now brexit is over the bad news will start coming through again the economic stability of the EU is not good and I'll bet as it gets worse more and more tensions will surface I give it five years tops before it falls apart.

[Osem]

Originally Posted by RizzyKing

Now brexit is over the bad news will start coming through again the economic stability of the EU is not good and I'll bet as it gets worse more and more tensions will surface I give it five years tops before it falls apart.

I tend to agree. There's been precious little mainstream media coverage of what's going on in the EU for a while and you have to wonder why, given the decision we were asked to make. The fundamental problems of the EU/Eurozone remain and precious little seems to be being done.

Urgent reform is needed yet the combination of Merkel's strangelhold on things and the Euro-Egos in Brussels will probably ensure that nothing much happens any time soon. The longer this goes on, the bigger the crisis will be when it eventually comes to a head.

Oh plenty is being done it's Xmas come early for the Germans they are asset stripping as much as they can in Greece and will do the same in Spain, Portugal and maybe Italy and I'm sure France will get in on the act before long. Not much being done to really help Greece but then if they got back on their feet things wouldn't be so cheap to buy your caring, sharing EU at work.

[downquark1]

Originally Posted by Osem

I tend to agree. There's been precious little mainstream media coverage of what's going on in the EU for a while and you have to wonder why, given the decision we were asked to make. The fundamental problems of the EU/Eurozone remain and precious little seems to be being done.

Urgent reform is needed yet the combination of Merkel's strangelhold on things and the Euro-Egos in Brussels will probably ensure that nothing much happens any time soon. The longer this goes on, the bigger the crisis will be when it eventually comes to a head.

Brexit has caused a revival of EU love in Europe. At least in the short term, so this may not happen.

[Osem]

Originally Posted by downquark1

Brexit has caused a revival of EU love in Europe. At least in the short term, so this may not happen.

EU love amongst the Eurocrats not so much the people. It won't be long before the tensions simmering away between Germany and the southern European countries in particular puts paid to that. The migration problem hasn't gone away, just shifted so I can't see an end to social unrest even if it isn't being reported.

It'd be so nice if Brexit focuses minds on what needs to be done within Europe but I seriously can't see it happening.

Amongst many European citizens there is anything but a rekindling of love for the eu quite the opposite many now want the same vote we just had and more then a couple of countries given the vote would leave. The eu politicians are not even playing nice with each other and tensions are on the rise although most Brits could be forgiven for thinking it was all love and cocoa at bedtime during the referendum as all negative eu related things magically vanished from our screens.

[Kursk]

Originally Posted by RizzyKing

".........most Brits could be forgiven for thinking it was all love and cocoa at bedtime during the referendum as all negative eu related things magically vanished from our screens.

Underestimating the public, in addition to lying, threatening and frightening them, was all part of the cocktail that caused the remain campaign to fail.

Ah well, we're all Leavers now so all's well that ends well .

[Osem]

Some interesting and rather worrying information and background on the state of Italy's banks and the dilemma its govt. faces.

In the euro zone’s latest crisis, Italy is torn between saving the banks or saving its people

http://qz.com/728517/in-the-euro-zon...ng-its-people/

[Osem]

Yes things are going so well in Europe that the Germans are being told to stockpile emergency supplies of food and water

For the first time since the Cold War the German government is advising citizens to stockpile food and water for use in a national emergency.
Some opposition MPs said the new civil defence concept, to go before ministers on Wednesday, was scaremongering.
Citizens are advised to store enough food to last them 10 days, because initially a disaster might put national emergency services beyond reach.
Five days' water - two litres (half a gallon) per person daily - is advised.
The German news website Frankfurter Allgemeine (FAZ) said the new concept was set out in a 69-page German Interior Ministry document.
The document said "an attack on German territory, requiring conventional defence of the nation, is unlikely". But, it said, a major security threat to the nation in future could not be ruled out, so civil defence measures were necessary.

http://www.bbc.co.uk/news/world-europe-37155060

If it happens it'll be Brexit's fault I'm sure...

[Mr K]

Originally Posted by Osem

Yes things are going so well in Europe that the Germans are being told to stockpile emergency supplies of food and water

They are obviously preparing to invade Poland. Poland's invaded everywhere else, lets face it...

[Osem]

Things aren't getting any better in Greece, quite the reverse in fact:

A year after the crisis was declared over, Greece is still spiralling down

https://www.theguardian.com/business...-declared-over

Against a backdrop of monumental debt – €320bn, or 180% of GDP, the accumulation of decades of profligacy – fatalism is fast replacing pessimism on the streets. “Our country is doomed,” sighs Savvas Tzironis, summing up the mood. “Everything goes from bad to worse.”

Close to half a million Greeks are believed to have migrated since the crisis begun, thanks to the searing effect of persistent unemployment (at just under 24%, the highest in Europe) and an economy that has shed more than a third of its total output over the past six years. The nation has been assigned some €326bn in bailout loans since May 2010 – the biggest rescue programme in global financial history. Yet the fear that it is locked in an economic death spiral was given further credence last week when Eurobank analysts announced that consumption and exports had also fallen, by 6.4% and 7.2%, in the second quarter of the year.

The duration and depth of the recession is such that the World Bank now compares it to the slumps seen in eastern European countries in the early 1990s. The poorest 20% of Greece’s 11 million people have suffered a 42% drop in disposable income since 2009.

All good then...

[nomadking]

Originally Posted by Osem

Things aren't getting any better in Greece, quite the reverse in fact:

https://www.theguardian.com/business...-declared-over

All good then...

The Guardian finally admitting the true cause.

the accumulation of decades of profligacy

Originally Posted by nomadking

The Guardian finally admitting the true cause.

On the contrary.

It's true that Southern European countries are prone to irresponsible spending. Previously, however, they were able to devalue their currency and carry on. Their money was worth little beyond their borders, but provided they could produce most of what they needed domestically, the internal economy could keep ticking over.

The massive elephant in the guardian newsroom is of course the Euro, which makes the usual club med devaluation strategy impossible.

In fact, impoverishing the populace is quite deliberate - it is an attempt to replicate the effects of devaluing the currency, without actually devaluing it. It's called "internal devaluation". Greece has been sacrificed on the altar of the single currency.

[Osem]

Yes decades of it - institutionalised. All the more reason that Greece should never have been admitted to the Euro-club, then it could have sunk or swum according to it's own decisions. As it is, tied to the Euro...

Well greece is not likely to be the last one flushed down the EU toilet for the sake of the euro so they will have company soon.