Tom Bombadil
Well-known member
Rome's terrible though, you can pay 10 euros for a slice of crappy frozen pizza next to St Peters but walk half a mile and get a whole proper neapolitan pizza for half the price.
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[News] New elections in Italy (probably).
- Thread starter larus
- Start date
Rome's terrible though, you can pay 10 euros for a slice of crappy frozen pizza next to St Peters but walk half a mile and get a whole proper neapolitan pizza for half the price.
larus
Well-known member
- Thread starter
- #22
Just because it hasn’t collapsed is very far from saying it’s stable.
The currency union within the UK works because we accept a central government and the distribution of taxes between affluent and poorer areas.
This is not happening in the EURO area. The inward tensions within the system are not improving. There’s a thing called Target 2 liabilities, which is in effect how much each country is liable for in respect of the borrowing done by the ECB to buy bonds from the countries which have been frozen out of the international markets.
The Euro has not been saved - there’s just been a huge amount of can kicking. The only cure is fiscal union and that won’t wash in the northern countries, as they won’t want their taxes to be used to bail out the south.
Why are you pissing your pants over this, you’re leaving the EU. It’s not your problem.
Green Cross Code Man
Wunt be druv
Remainers are allowed to talk about the EU. People who support Brexit aren't.
Strange kind of new liberalism at work.
Tom Bombadil
Well-known member
It's one of the articles of faith of the true believer,
Thunder Bolt
Silly old bat
First point, there is a lot of resentment in the UK for Wales and Scotland getting free NHS prescriptions, for example, or Scotland uni fees being free.
Second point, as fellow members of the EU, Britain lent Portugal a sum of money to help them out, which has been paid back in full. The EU doesn't necessarily depend on the euro, just cooperation between members.
larus
Well-known member
- Thread starter
- #27
Tell you what. I'll shut-up about the EU and Euro if you shut-up about Brexit. No - I thought not.
Seems someone doesn't like the uncomfortable facts about their 'dreams' being mentioned. I noticed that you didn't defend the structure not refute my statements.
But you’ve got what you want, yet you’re still wetting your pants over the EU and the Euro. There is a difference.
How does it work in the US?
larus
Well-known member
- Thread starter
- #32
Federal/state spending & taxes. They have the Fed as their central bank, we have the BoE and the Euro area has the ECB. This is what is classed as the lender of last resort - the custodian of the currency.
This is why the proposal that the SNP made about using Sterling in the event of independence was a non starter. They could use Sterling as their currency for transactions, but the BoE would not have been the lender of last resort, therefore there would have been no central bank backing the governments spending/borrowing.
Is much wealth taken from the prosperous areas and redistributed to the poorer states?
larus
Well-known member
- Thread starter
- #34
Not redistribution in a direct sense. But whatever spending is controlled at the federal level (Defence, Infrastructure, Science, Education, etc.) is across the whole country. Think of it as a similar (in very loose terms) to Council Tax vs Income Tax. Yes, it's not like that, but there is a difference in the 2 tax raising systems and what this covers in terms of expenditure. One major thing about the US though is there is less of a welfare state, so it's more down to providing/planning for yourself.
Also, it's much easier to move around in the US. By this I don't mean in a legal way, I mean this by virtue of culture/language. Of course, there are still minor cultural differences between states as there are in the UK between say Sussex and Yorkshire, but this is much less than between say England and Greece.
Baker lite
Banned
Went on holiday to Venice and lake Garda the day after the Referendum in 2016,Every Italian We spoke to seemed extremely jealous that We had taken matters into our own hands and were hoping the same for their Nation.
I fear for the Italian people,there’s no way The EU will allow it to happen again.
It’s great to be leaving the sinking ship.
I fear for the Italian people,there’s no way The EU will allow it to happen again.
It’s great to be leaving the sinking ship.
looney
Banned
- Jul 7, 2003
- 15,652
What it is vulnerable to when it is not based on sound economics is something called an asymmetric shock which come along every 20 years or so. The 70s oil price rises where one, the credit crunch was another which has left southern Europe in deep shit.
Pretty pink fairy
Banned
- Jan 30, 2008
- 31,981