PricedOutNative

Alistair Darling Talking Sense On Greece

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He was commenting on Greece; in Summary:

The EU has managed to kick the can down the road a little further but the can is not going as far as it used to.
Aiming for 120% Dept to GDP by 2020 with massive cuts to government spending is no incentive for the Greek people; they need to see light at the end of the tunnel.
He really poured cold water on the whole deal, to a greater extent then any other main stream commentators recently..

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[quote name='PricedOutNative' timestamp='1329814935' post='3266977']
He was commenting on Greece; in Summary:

The EU has managed to kick the can down the road a little further but the can is not going as far as it used to.
Aiming for 120% Dept to GDP by 2020 with massive cuts to government spending is no incentive for the Greek people; they need to see light at the end of the tunnel.
He really poured cold water on the whole deal, to a greater extent then any other main stream commentators recently..
[/quote]

they are assuming growth too.

IIRC, didnt the greek economy shrink 6% or 7% last year?

did their debt shrink 6 or 7% last year?

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[quote name='PricedOutNative' timestamp='1329814935' post='3266977']
He was commenting on Greece; in Summary:

The EU has managed to kick the can down the road a little further but the can is not going as far as it used to.
Aiming for 120% Dept to GDP by 2020 with massive cuts to government spending is no incentive for the Greek people; they need to see light at the end of the tunnel.
He really poured cold water on the whole deal, to a greater extent then any other main stream commentators recently..
[/quote]
Well...he did say US was taking right action on growth as is proved by econ stats. NOTHING could be further from the truth.

Er...

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Whilst he "appears " a reasonable Joe, he was in charge in driving the UK economy into the buffers, I would much rather listen to the ramblings of a tramp, rather than this slimey piece of ............... the attack dogs of number 10 should of have a good chew first.

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[quote name='Killer Bunny' timestamp='1329815604' post='3266983']
Well...he did say US was taking right action on growth as is proved by econ stats. NOTHING could be further from the truth.

Er...
[/quote]

I heard him on Radio 5 and he's was talking utter cr*p.

US are right as they now have growth. All austerity (read: living anywhere close to your means) is wrong. The chase to increase growth is all that matters regardless of where you're starting from (at the end of a debt filled boom) or how you achieve it (keep borrowing from the future and waste it on stuff no-one would consume otherwise).

He's an idiot!

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[quote name='Mr. Beeny (I wish)' timestamp='1329816752' post='3266997']
Whilst he "appears " a reasonable Joe, he was in charge in driving the UK economy into the buffers, I would much rather listen to the ramblings of a tramp, rather than this slimey piece of ............... the attack dogs of number 10 should of have a good chew first.
[/quote]

To be fair to him I'd say that Gormless Brown was responsible for the train crash; Darling may have been Chancellor when the crash happened but Brown had been in charge for the previous 10 years (and was still driving from the back seat).

It's a bit like being handed the controls just as the train goes through the final red light at 100 MPH.

Also Broon wanted to sack him and appoint Ed Bo11ocks as Chancellor but couldn't; for that alone we should be grateful.

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Debt of 120.5% of GDP in 2020

Planning to be bust.

You have to love how they say something like "can the Greek people take 8 years of it?" what about the 120.5%? Are they going to do interest only sovereign debt or will fairies pay it off in the night?

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[quote name='Durch' timestamp='1329818078' post='3267019']
They need Ocean Finance. (They might even treat themselves to a [url="http://tvs-worst-adverts.co.uk/ocean-finance-long-grass/"]ride on mower[/url] while they are at it.)
[/quote]

Debt consolidation?

All the PIIGS debt in one big 100 year bond?

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[quote name='Mr. Beeny (I wish)' timestamp='1329816752' post='3266997']
Whilst he "appears " a reasonable Joe, he was in charge in driving the UK economy into the buffers, I would much rather listen to the ramblings of a tramp, rather than this slimey piece of ............... the attack dogs of number 10 should of have a good chew first.
[/quote]

Darling tempered some of the one eyed ones more 'questionable' decisions. Without him at no 11 during the descent into anarchy in 08 it could have been so much worse.

He does talk some sense and would make a credible leader of the Labour party, certainly much better than one of the two Ed's. Jokes them two.

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[quote name='Zanu Bob' timestamp='1329819787' post='3267037']
exactly,didnt speak sense when in office.all he did was run tio whims and fancies of that one eyed scottish c*** as he ran the good ship Brittania onto the rocks.
[/quote]

I have a high regard for Darling as it happens. Short of mutiny, he fought the battles where he could. Of course, he is a politician first, but he did seem to have his head screwed on and feet firmly on the ground. Can you imagine the stress of being Chancellor during those times? Cool as a cucumber on a September afternoon in Edinburgh.

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[quote name='PricedOutNative' timestamp='1329814935' post='3266977']
He was commenting on Greece; in Summary:

The EU has managed to kick the can down the road a little further but the can is not going as far as it used to.
Aiming for 120% Dept to GDP by 2020 with massive cuts to government spending is no incentive for the Greek people; they need to see light at the end of the tunnel.
He really poured cold water on the whole deal, to a greater extent then any other main stream commentators recently..
[/quote]


What a pity he didn't display the same sort of sense when in charge of running the UK's finances.

To be fair though, he had to take over from Brown and operate under his Stalin-like regime.

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[quote name='geezer466' timestamp='1329819640' post='3267034']
Darling tempered some of the one eyed ones more 'questionable' decisions. Without him at no 11 during the descent into anarchy in 08 it could have been so much worse.

He does talk some sense and would make a credible leader of the Labour party, certainly much better than one of the two Ed's. Jokes them two.
[/quote]

+1

The only people ultimately responsible for Brown's actions are Brown himself and Blair (the only person who had the power to sack him)

As Chancellor Darling spoke more sense than Brown (who wanted to spend everything to regain power) and Osborne (who was opposed to any form of monetary stimulus at the time) Edited by LiveAndLetBuy

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[quote name='LiveAndLetBuy' timestamp='1329820763' post='3267055']
snip Osborne (who was opposed to any form of monetary stimulus at the time)
[/quote]

wut?

As far as I recall, the Tories were silent on just about every issue.

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[quote name='PricedOutNative' timestamp='1329814935' post='3266977']
He was commenting on Greece; in Summary:

The EU has managed to kick the can down the road a little further but the can is not going as far as it used to.
Aiming for 120% Dept to GDP by 2020 with massive cuts to government spending is no incentive for the Greek people; they need to see light at the end of the tunnel.
He really poured cold water on the whole deal, to a greater extent then any other main stream commentators recently..
[/quote]



He didn't take that view with Iceland.

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[quote name='!EURO!' timestamp='1329821310' post='3267069']
He didn't take that view with Iceland.
[/quote]

Indeed he did not.

Darling is a slimeball, he fits into the same category as Portillo imo- a candid straight talker, when out of office.

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[quote name='Durch' timestamp='1329818078' post='3267019']
They need Ocean Finance. (They might even treat themselves to a [url="http://tvs-worst-adverts.co.uk/ocean-finance-long-grass/"]ride on mower[/url] while they are at it.)
[/quote]

Aegean Ocean Finance? :D

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[quote name='Sour Mash' timestamp='1329820662' post='3267054']
What a pity he didn't display the same sort of sense when in charge of running the UK's finances.

To be fair though, he had to take over from Brown and operate under his Stalin-like regime.
[/quote]

It's strange the way UK politicians and business people often seem to make sense when commenting on overseas economies but when it comes to the UK they revert to total garbage and either mislead or miss out the important bits etc.

Last week on BBC Radio 5 Live Digby Jones and Ruth Lea were commenting on the Greek crisis and in the main speaking sense and even sympathising with the Greek peoples' position as well as the German people and seeing both points of view.

Then the discussion turned to the UK and the garbage started to come out in a very biased and political way with opinions typically just tinkering around the edges and Digby Jones almost as good as saying that UK workers were no good. Apparently no sympathy for them from him.

When talking about the UK's recent possible downgrade announcement Jones said a downgrade was bad for pensioners as it would reduce annuity rates. Lea had to come in and correct him saying that as if UK is more at risk (as expressed through a downgrade) then annuity rates would go up. Shouldn't someone in his position know that.

Having listened to the sense talked about Greece then the garbage talked about the UK I can only conclude that the garbage is for radio listeners consumption and very likely quite different to what they have to say in private. Edited by billybong

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[quote name='billybong' timestamp='1329832745' post='3267215']
It's strange the way UK politicians and business people often seem to make sense when commenting on overseas economies but when it comes to the UK they revert to total garbage and either mislead or miss out the important bits etc.
[/quote]

A bit like how the British media are generally quite good at reporting overseas stories (when the UK or Allies have no strategic interest) but absolutely rubbish at reporting national stories in an accurate, impartial manner.

That's why it's best to look to Russia Today or Al Jazeera to give a more balanced perspective. Just don't trust them to be any way accurate on stories in [i]their[/i] own back yard.

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[quote name='Bloo Loo' timestamp='1329815325' post='3266981']
they are assuming growth too.

IIRC, didnt the greek economy shrink 6% or 7% last year?

did their debt shrink 6 or 7% last year?
[/quote]
so if they have o economy they have 0 debt lol

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[quote name='Bloo Loo' timestamp='1329821028' post='3267061']
wut?

As far as I recall, the Tories were silent on just about every issue.
[/quote]

He did call QE "the last resort of desperate governments" - although I guess you could interpret that as not being opposed to QE, but instead being critical of getting into the situation whereby there is no alternative.

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[quote name='Killer Bunny' timestamp='1329815604' post='3266983']
Well...he did say US was taking right action on growth as is proved by econ stats. NOTHING could be further from the truth.

Er...
[/quote]

You have to put his comment through the 'LIEBOUR POLITICSPEAK to ENGLISH' Translator.

Then

[b] US was taking right action on growth as is proved by econ stats[/b]

translates to

'I want Obama to beat the Repubs and have total faith in the govt issued stats that are incorruptable and 100% true"

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[quote name='Bloo Loo' timestamp='1329821028' post='3267061']
wut?

As far as I recall, the Tories were silent on just about every issue.
[/quote]
absolutely true

If they had told me what they were planning I would have voted for them.
but they had realized If they kept their mouths shut they would win any way.

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[quote name='Executive Sadman' timestamp='1329840975' post='3267335']
You have to put his comment through the 'LIEBOUR POLITICSPEAK to ENGLISH' Translator.

Then

[b] US was taking right action on growth as is proved by econ stats[/b]

translates to

'I want Obama to beat the Repubs and have total faith in the govt issued stats that are incorruptable and 100% true"
[/quote]

I understand what you're saying however actually it really is simply - we need to borrow more. To hell with the consequences.

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[quote name='LiveAndLetBuy' timestamp='1329839134' post='3267312']
He did call QE "the last resort of desperate governments" - although I guess you could interpret that as not being opposed to QE, but instead being critical of getting into the situation whereby there is no alternative.
[/quote]
No leading politician anywhere in the world has voted against QE.

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