Germany forced to bail out bankrupt countries like Spain and Greece
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http://www.theguardian.com/world/2014/feb/02/germany-preparing-third-financial-rescue-greece
New loan, outlined in a German finance ministry position paper, would be worth €10bn-€20bn, says Der Spiegel magazine
A shopping street in Athens. Greece may face a financing gap of up to €15bn over the next two years. Photograph: Yorgos Karahalis/ReutersSouthern Europe is a sinking ship pulling Germany and northern Europe down its whirpool of debt.
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Even though the UK isn't part of the Euro, they still have to help bailout the Euro.
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I know it certainly isn't doing the UK any favors. The pound is down $1.55. I think the Euro is a failed concept, which was designed to help poorer nations like Spain, Greece and France. The pound was around $1.70 before the Eurozone. The Euro is worth less (or maybe worthless) than the Cayman Island Dollar KYD $1.31 a previous colony of Great Britain. EUR is $1.22 down from $1.35.
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http://www.theguardian.com/world/2014/feb/02/germany-preparing-third-financial-rescue-greece
New loan, outlined in a German finance ministry position paper, would be worth €10bn-€20bn, says Der Spiegel magazine
A shopping street in Athens. Greece may face a financing gap of up to €15bn over the next two years. Photograph: Yorgos Karahalis/ReutersSouthern Europe is a sinking ship pulling Germany and northern Europe down its whirpool of debt.
Poor Spain, it can never catch a break. Maybe one day it will be a leading economy
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http://www.theguardian.com/world/2014/feb/02/germany-preparing-third-financial-rescue-greece
New loan, outlined in a German finance ministry position paper, would be worth €10bn-€20bn, says Der Spiegel magazine
A shopping street in Athens. Greece may face a financing gap of up to €15bn over the next two years. Photograph: Yorgos Karahalis/ReutersSouthern Europe is a sinking ship pulling Germany and northern Europe down its whirpool of debt.
Poor Spain, it can never catch a break. Maybe one day it will be a leading economy
It will be a leading economy as soon as it releases Catalonia and Leon and itself becomes Castile.
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Spain will never be a leading economy, they have nothing to offer the world financially. It is their mentality that prevents them from being a world power.
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I don't know much about Spain's productivity but I do know that they love to sell land/houses to foreigners then take them back in a land grab. This is a routine topic of UK news documentaries (Panorama, Dispatches, etc) .
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Can we point that the euro was never good for the poorer countries? That is a joke… and a bad one.
Can we also point that Germany is part responsible for the debt since it basically force the greek to but their weapons and such, when they knew it was problematic in the medium run, hell it's a damn complex take to over generalize, the central european decisions have been a laughing stock for a reason, germany kinda fed the whole euro crysis and the way they tried to fix it was even worst... France will be the one to kill the euro most likely.
Spain actually have strong companies like intertex... Not likely to become a strong superpower but not exactly a weak country, european fmi politics just do not work well anywhere. -
Germany, Norway and The UK are the only reason why most of Europe survives. Poorer countries like Turkey, Greece, Italy, Spain, and France joined to strengthen their economies. Germany, Norway and the UK are now the richest countries in the Eurozone. Greece is 43rd, Italy is 8th, France is 6th, Spain is 44th and Turkey isn't worth mentioning although I just did. Norway has a thriving oil industry, cobalt, iron ore and many natural resources, along with being the best place to incorporate. I think those countries only have themselves to blame. :cry2:
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I disagree with the Uk… the Uk is ok because it has the pound this situation would be intolerable for them if they had the euro also... some of these countries have the material resources they are just poorly managed by a corrupted political mass, thi is just now a wait for the euro to burst and countries to regain soveraignty... then reconstruction might take place, however it would have been better to have finished the euro in 2008.
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The UK has the Pound which it maintains on it's own, but it also has to pay into the various funds to keep the Euro afloat.
The EU is a bloated, overly powerful, self interested body that does more harm than good in most cases. The administrative costs of the EU is a prime example of how screwed up it is and how it's not value for money. The only thing the EU does is make laws that reinforce their own power and redistribute the wealth. They don't provide any services; ie military, post office, welfare, etc, etc.
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I disagree with the Uk… the Uk is ok because it has the pound this situation would be intolerable for them if they had the euro also... some of these countries have the material resources they are just poorly managed by a corrupted political mass, thi is just now a wait for the euro to burst and countries to regain soveraignty... then reconstruction might take place, however it would have been better to have finished the euro in 2008.
It is as raphjd said, "The UK has the Pound which it maintains by itself". Those countries which adopted the Euro, did so because they couldn't afford to maintain their own. Spain is bankrupt, Greece is bankrupt and Portugal and France are on their way there. Italy has more corrupt prime ministers with more sex scandals than the Queen Mother has had birthdays. The supposed sovreignty with which you speak is only recognised when you can take care of your $%W :afr: internal affairs so to speak. Switzerland still has their CHF, Sweden has the SEK, Denmark has the DKK and the UK has the GBP, which they have to pay to keep their currency for being part of the Eurozone. I think they (non-Euro countries) should let them fall on their bums, then see what happens.
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… I'm almost speechless, you think they could not maintain their own? Was there a crysis when the euro was implemented? How can you backup such affirmation, that is several layers of economical ignorance, ever seen the stats pre the EU mess? Most of those countries were way more stable. The euro as currency does not allow for the natural inflation or deflation process that stabilises and is stabilising the others... countries with their own currency have less pressure put on them and that is that. Some of those countries like Spain Portugal Ireland and France should have left in 2008, granted they'd feel a major fall but they had the structure to hold it and get up in a decade (just like sweden did), nowadays after the FMI some of them don't, and it's all a time tick until default... you think that the UE is actually managing this better than the sovereign countries would? That is blindness... just check the real numbers and not the modules, because numbers do not lie.
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… I'm almost speechless, you think they could not maintain their own? Was there a crysis when the euro was implemented? How can you backup such affirmation, that is several layers of economical ignorance, ever seen the stats pre the EU mess? Most of those countries were way more stable. The euro as currency does not allow for the natural inflation or deflation process that stabilises and is stabilising the others... countries with their own currency have less pressure put on them and that is that. Some of those countries like Spain Portugal Ireland and France should have left in 2008, granted they'd feel a major fall but they had the structure to hold it and get up in a decade (just like sweden did), nowadays after the FMI some of them don't, and it's all a time tick until default... you think that the UE is actually managing this better than the sovereign countries would? That is blindness... just check the real numbers and not the modules, because numbers do not lie.
Everyone lies. Spain has always been a mess, along with Greece and Portugal. Italy has gone through more government and regime changes than my sister's hairstyles. Sex scandal this, Corrupt Prime Minister here, screwing anything that moves, Mussolini and fascism. Spain has never been nor will be a superpower. They have created Tesoro Publico to bankroll the government because they are broke. France is the only half way stable country and they had to raise the retirement age 5 years and increase the work week. Sweden, by the way, is the only free-standing socialist government has been successful. They are not feckless oafs who compalin about 35 hour work weeks and bitching about their temps de loisir. Your country is only as good as what you can export or what you can attract. One thing I don't like about Sweden is that they allow to many immigrant leeches, especially from southern Europe in. 75% of crime committed in Sweden is perpetrated by foreigners according to the OSAC office crime and safety. That's why Norway shuts their borders to them. Scandinavia is at the top of the Human Development Index charts. The US and the UK are prime examples of sovereign nations who are superpowers. Even a second-world country like China is doing better than the Eurozone.
"Crysis" is spelled "crisis"
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Isn't there a mod to lock this preposterous thread?
It is insulting to every Spanish and Greek member of this forum. -
Can we just state how exactly is your pay rate and taxes proportional to prices for housing and basic food needs in such countries due to the mess the UE made? You are forgetting that most of us need to have double jobs, truth is we are not having 35 Hours of labour but most likely the double… and you get quotas for production, so alas most of our production is wasted... imagine we had a lax on quotas so one could sell and compete fairly in the market... who would buy expensive 2nd class products when you could get 1st class cheaper products? It's on the "good and well" countries interest to keep the Euro too, just because it keeps everything in a tight subservient way, that is why switzerland never cared, that is why norway never cared.
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In Sweden, there is a minimum municipality tax rate of 28.89 per cent (Vellinge) to 34.32 per cent (Hofors).
National income taxes
None on income up to SEK 413,200
20 per cent on 413,201 to 591,600
25 per cent on income over 591,600Income from capital
30 per cent (state tax)Corporate income tax
22 per centhttps://sweden.se/society/why-swedes-are-okay-with-paying-taxes/
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So what?
This thread is very insulting because the people of BOTH Spain and Greece have been making many sacrifices in order to pay all these taxes and cuts that Troika has forced us.
I get it, you do not like Greece, and possibly you do not like Spain, as well but everyone has acknowledged that both of these countries have made whatever it is humanly (and not) possible in order to recover and this is something that even the politicians of Germany have acknowledged.
I really want a mod to step in and lock this thread. It is downlooking a very sensitive matter of my country and other crisis stricken countries and it is handled in a very disrespectful manner. -
I'll had that the overlook on the paralel economics and the corruption is startling, the people should not been paying or called lazy for the bad management… this countries are under a strict policial circle, the political class knows that the people hates them.
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3800 Americans gave up their American passports last year and moved to Switzerland because of America's overreaching tax laws. They double tax on just about everything. Dividends are doubly taxed. They tax dividends payed and dividends received.
