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EU calls for debt to be mutualized


Dave Bloke

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EU commissar Thiery Breton has called for EU debt to be mutualized. Who will buy volkswagens if the spendthrift southern states go bust, he asks?

The French finance minister has warned of the worst recession in living memory and possibly the end of the Euro project.

Sounds like the UK got out just in time.

Some background from the FT

https://www.ft.com/content/f21cf708-759e-11ea-ad98-044200cb277f

https://www.euractiv.fr/section/avenir-de-l-ue/news/deux-commissaires-europeens-mettent-la-pression-sur-lallemagne-pour-les-coronabonds/

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the gardener
Just now, Dave Bloke said:

EU commissar Thiery Breton has called for EU debt to be mutualized. Who will buy volkswagens if the spendthrift southern states go bust, he asks?

The French finance minister has warned of the worst recession in living memory and possibly the end of the Euro project.

Sounds like the UK got out just in time.

We should still turn back so we can nuke the whole site from orbit. 

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1 minute ago, Rowley said:

Just a matter of time before they all turn on each other. EU Project ignites next WW? 😂

They will start fighting again, and then we can't be so condescending about some other parts of the world.

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swiss_democracy_for_all
9 minutes ago, Dave Bloke said:

EU commissar Thiery Breton has called for EU debt to be mutualized. Who will buy volkswagens if the spendthrift southern states go bust, he asks?

The French finance minister has warned of the worst recession in living memory and possibly the end of the Euro project.

Sounds like the UK got out just in time.

Well yeah, kind of, we don't have to pay for Italy being tipped into bankruptcy at least, but we do have to pay for our own lockdown!

 

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Uptherebels
Just now, swiss_democracy_for_all said:

Well yeah, kind of, we don't have to pay for Italy being tipped into bankruptcy at least, but we do have to pay for our own lockdown!

 

.....and bankruptcy.

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Democorruptcy

All the EU countries should just get a big loan from Deutsche Bank and then the Germans just let it go bust and nobody has to pay anything back.

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1 hour ago, Uptherebels said:

.....and bankruptcy.

I dont really have a problem paying for my own countries problems but I have a really fucking big problem paying for other countries problems.  They can have a big fuck off and die from me.

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maynardgravy
On 07/04/2020 at 17:08, Democorruptcy said:

All the EU countries should just get a big loan from Deutsche Bank and then the Germans just let it go bust and nobody has to pay anything back.

11 years ago I'd have said you were joking. 5 years ago I'd have said you were mad. Today I would say you have a very good chance of heading the IMF. 

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1 hour ago, maynardgravy said:

11 years ago I'd have said you were joking. 5 years ago I'd have said you were mad. Today I would say you have a very good chance of heading the IMF. 

2087989734_Screenshotfrom2020-04-0820-42-01.png.85fdd52dcb31b7a468e9d3f77562ad13.png

They may be the first listed company ever to end up with shares priced at zero without ever having declared bankruptcy.

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So Holland and Germany have strongly rejected the idea of bailing out the "feckless daegos". The have "lifeboat anxiety" the worry that the southern EU states will drown their own economies - the fear is that if they are all in this together they will all sink together, but no band will be playing on deck.

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On 07/04/2020 at 16:43, Dave Bloke said:

EU commissar Thiery Breton has called for EU debt to be mutualized. Who will buy volkswagens if the spendthrift southern states go bust, he asks?

The French finance minister has warned of the worst recession in living memory and possibly the end of the Euro project.

Sounds like the UK got out just in time.

Some background from the FT

https://www.ft.com/content/f21cf708-759e-11ea-ad98-044200cb277f

https://www.euractiv.fr/section/avenir-de-l-ue/news/deux-commissaires-europeens-mettent-la-pression-sur-lallemagne-pour-les-coronabonds/

Nice try.

But its not really the Med countries buying german exports.

 

 

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52 minutes ago, spygirl said:

Nice try.

But its not really the Med countries buying german exports.

 

 

Yes it's us.

We buy huge amounts of German shit. Every time we need to put a shelf up we buy a Bosch drill, every time an appliance breaks down we buy another Siemens appliance, Every time our finance runs out we finance another Merc.

 

There is a huge amount of satisfaction watching how unbalanced the lifeboat is without our support between the French and Germans.

 

Also have they sorted out their budgets yet LOL

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1 hour ago, planit said:

Yes it's us.

We buy huge amounts of German shit. Every time we need to put a shelf up we buy a Bosch drill, every time an appliance breaks down we buy another Siemens appliance, Every time our finance runs out we finance another Merc.

 

There is a huge amount of satisfaction watching how unbalanced the lifeboat is without our support between the French and Germans.

 

Also have they sorted out their budgets yet LOL

The British obsession with German 'stuff' is so fucking pathetic, I hate it.

edit: and that's from someone who has lived in Germany and loves the place and the people.

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7 minutes ago, Boglet said:

The British obsession with German 'stuff' is so fucking pathetic, I hate it.

edit: and that's from someone who has lived in Germany and loves the place and the people.

It doesn't have to be German really, we are like a huge seething consumerism cesspit. I haven't got the figures now but I am pretty sure we buy way more 'stuff' per unit of GDP than other European countries which is why they NEED to sell to us.

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Popuplights

Well when the tax hikes hit to pay for this thing, disposable income will be down across the board. Everyone will be buying less shit. Which I don't think is a bad thing

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4 hours ago, Dave Bloke said:

So Holland and Germany have strongly rejected the idea of bailing out the "feckless daegos". The have "lifeboat anxiety" the worry that the southern EU states will drown their own economies - the fear is that if they are all in this together they will all sink together, but no band will be playing on deck.

Ethnographically, I think you’ll find that more of the ones needing a bailout are wops.

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Lightly Toasted
6 hours ago, Dave Bloke said:

So Holland and Germany have strongly rejected the idea of bailing out the "feckless daegos". The have "lifeboat anxiety" the worry that the southern EU states will drown their own economies - the fear is that if they are all in this together they will all sink together, but no band will be playing on deck.

They either need to bail out or get off the boat B|

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