Tuesday, November 8, 2011

He's not listening...

I don't know what it is about political leaders and not actually listening to what they're being told, seems that unless it comes from green energy idiots or brazen EUrophiles then it's a case of "la la la I'm not listening"
Collapse of Euro 'would leave Britain BETTER off but if it stays we will see 10 years of austerity'
  • Bailout contribution could rise to £40bn
  • Get tough on Europe IDS tells Cameron as Tories hold crisis talks
  • Cost of Euro collapsing will be 2 per cent of GDP
  • UK's IMF liability is currently £29.4billion - and moves to raise it have sparked fury among Tory backbenchers
The collapse of the euro would ultimately lead to a strengthening of Britain's economic position, a think tank predicted today. Despite resulting in a short recession and costing the economy 2 per cent GDP, the end of the European single currency would ultimately be beneficial, the study showed. The Centre for Economics and Business Research also said that if the euro survives the current sovereign debt crisis with the help of bailouts, Britain could face a decade of austerity measures. The study will add further pressure on David Cameron who will today hold crisis talks with Cabinet eurosceptics as it emerged that Britain’s exposure to the International Monetary Fund could rise to £40billion. Work and Pensions Secretary Iain Duncan Smith and Northern Ireland Secretary Owen Paterson will tell the Prime Minister he needs to toughen his stance on Europe, setting out a clear timetable for clawing back powers handed to Brussels. There is increasing concern that core EU nations are planning to use the debt crisis to join forces to ‘bulldoze’ over British interests, leaving the UK marooned in a permanent voting minority as they integrate further. Alarm on the Conservative benches deepened last night as Treasury Chief Secretary Danny Alexander, a keen Europhile, confirmed that Britain’s contributions to the IMF could rise to £40billion and said he would have no problem with more money being loaned to Greece.
Yup, that's right,  the Centre for Economics and Business Research has pointed out the obvious that if the €uro collapses we'll be better off, if it doesn't we're in for 10 years (at least) of penury. You even have imbeciles such as Treasury Chief Secretary Danny Alexander saying he would have no problems loaning more cash to bankrupt Greece, doubt somehow he means his own cash though, which is ever the problem with our politicians loosing sight over just whose cash they are playing with.
The warning signs have been there almost from the start as the EU has grabbed ever more power to itself that was overreaching itself to such a degree that the slightest mishap (global recession anyone?) would start the collapse of their house of cads cards. The ever more desperate attempts to somehow shore it up in the face of the markets reluctance to support the €uro is only prolonging the agony, the EU states and their economies are too disparate to survive under a monolithic state, not even the USA does that with the Dollar, leaving a lot of control to the states themselves in how they set prices and taxes. The only way it could survive is the one path they cannot take, that is to allow individual members to control their own economies as that would sound the death knell of the EU superstate.
I just wonder how much damage will be done before it collapses.

5 annotations:

DerekP said...

"I don't know what it is about political leaders..."

They're arrogant, ignorant, willfully stupid and, as you point out, want to listen only to those they have paid to agree with them.

Deja vu anyone?

"...the Treasury spent £27 billion of reserves in propping up the pound...

Issues of national prestige and the commitment to a doctrine that the fixing of exchange rates within the ERM was a pathway to a single European currency inhibited the adjustment of exchange rates..."


Quiet_Man said...

Deja vu indeed, you cannot buck the market, no matter what politicians believe.

Captain Haddock said...

First, kill all the lawyers .. then make a start on the politicians ...

Anonymous said...


Those few politicians left who are not themselves lawyers. Otherwise, entirely in agreement.

Mad Morgan

Captain Haddock said...

@ MM ..

Those politicians who are already lawyers would be in the first tranche of executions .. which would also include the wives & husbands of said politicians (and former politicians) who also happen to be lawyers ..