Jeremy Corbyn

What?? No I don't know!! If a country like Greece were to default on its debts and was unable to raise funds from the international money market as it's credit rating is completely trashed it would become bankrupt How, in real terms is that not running out of money? This is why the EU is so afraid of the Greeks defaulting. They can never pay back the money they owe as they have insufficient GDP to get out of the hole they and the EU and ECB have dug .

Greece HAS run out of money and is now totally reliant on these bailouts. Without them they cannot function and the Government would be unable to pay Public sector workers, pensions, banks would collapse and yes, the country would be reduced to the barter system.

I have no idea where you got the idea that a country cannot go bust!! Venezuela is another country teetering on the brink and running out of money. Zimbabwe through mismanagement has hyperinflation and also on the brink

 

I see the government has taken Corbyn's advice on rehousing the victims of the Kensington fire.

 

A country being able to repay debts and not being able to run out of money are not the same think. Quantitive Easing.

 

Bloody communists

 

Italy are deep in " the brown stuff" as well. Got talking to a guide in Pompeii. He said the Euro was the biggest con
ever perpetrated on the Italian nation. If they had a referendum on whether to leave ( if they could pay their loans from
Europe off of course) I bet most Italians would do what the UK did.

 

I know the difference thank you very much
Quantative easing is basically creating more money (not actually printing it. However it may still lead to inflationary pressures on the currency concerned if increasing the money supply. If that continues (see Weimar republic) and currently Venezuela, hyper inflation can (I say could not will) result, at which point the currency may become a liability. No outside country/investors will lend them money . inflationary pressures on a weak economy affecting the credit rating making borrowing more expensive leading to a downward spiral...more QE ...more inflationary pressure etc.

What do you think will happen to Greece if the bailout loans stop and they default?

I agree it is very unlikely that a Western developed economy would go bust but to say one CANNOT go bust is simply not true. A number of Economists argue that QE would not lead to hyper inflation but many argue it could and Venezuela and Zimbabwe are prime examples of how close that possibility is.

 

I live in Italy and all this WY Brexit guff about all countries are closing ranks and united re Brexit might apply to the politicians but there is increasing disaatisfaction amongst the population of the PIGS and quite a lot of negativity about the Euro. Italy's problems stem from the huge bad debt portfolio held by the banks but Italy, like the UK has sufficient output to service its loans. I dont see the anti EU 5 star movement making much headway however many Brexiteers ( I am one) might wish it to.

Interesting though how suddenly germany and France are saying that if there is no agreement on article 59 Britain may be allowed to stay in the EU.

Tough talk seems to have evaporated. I wonder why?

 

What ever came of the 24hrs Poland and Czech Repulic were given to accept refugees. Weren't the EU threatening to cut their funds. That was over a week ago.
https://metro.co.uk/2017/06/13/eu-w...ugees-under-migrant-sharing-plan-6706291/amp/

 

Comrade corbyn shows disrespect to the Queen .
To the Tower !
Off with his head !

 

He actually followed the correct protocol and it was Theresa May amongst others that got it wrong. Unless the lady from Debrets is a raging communist.


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You seem to want to rant about this for no real reason. Again you are mistaking running out of money with the value of that currency and taking of debt and lending. Any country that has a central bank cannot run out of money as it can print more or look at other measures such as QE I am not saying that is a good thing or ascribing any value to it. But it is a logistical impossibility to run out of money hence the joke.

I think Greece would be much better to come out of the Euro (along with other South European economies) and reverting back to its own currency. The Euro is a great idea for Germany/ France but pretty terrible for the rest. It also is a mechanism for capitalist control and interference. The Germans in particular are just as worried about the Greeks defaulting as the Greeks are.

There's the old Vietnamese joke I feel like a million dong ( roughly 24 quid when I was there).


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Basically spend as much as you want cos there's no such thing as debt or deficit cos we can just keep printing money . Btw don't tell our lass of this phenomenon.

 

I dunno , It looked bad and was h