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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..
Alistair Darling Talking Sense On Greece
Radio 4 around 08:20
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#1
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Posted 21 February 2012 - 09:02 AM
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#2
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Posted 21 February 2012 - 09:08 AM
PricedOutNative, on 21 February 2012 - 09:02 AM, said:
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..
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..
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?
WARNING
Your
country is at risk
if you
do not keep up repayments
on a gilt or other loan secured on it
Your
country is at risk
if you
do not keep up repayments
on a gilt or other loan secured on it
#3
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Posted 21 February 2012 - 09:13 AM
PricedOutNative, on 21 February 2012 - 09:02 AM, said:
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..
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..
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...
In 1931 they did not know yet that they were in The Great Depression
Cap'n, you cannae change the laws of... Economics!
"If they raise rates we're toast. If they don't its BECAUSE we're toast" Jonathan Davis Sky News March 2011
Cap'n, you cannae change the laws of... Economics!
"If they raise rates we're toast. If they don't its BECAUSE we're toast" Jonathan Davis Sky News March 2011
#4
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Posted 21 February 2012 - 09:32 AM
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.
#5
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Posted 21 February 2012 - 09:38 AM
Killer Bunny, on 21 February 2012 - 09:13 AM, said:
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...
Er...
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!
#6
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Posted 21 February 2012 - 09:44 AM
Mr. Beeny (I wish), on 21 February 2012 - 09:32 AM, said:
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.
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.
Caveat emptor - let the buyer beware - anon 1523AD
Told you - Young Goat December 2007AD
We are all waking up to the reality that our houses aren't worth what we thought they were. - David Willetts MP 15 March 2011.
Join today: British Goat Society
Told you - Young Goat December 2007AD
We are all waking up to the reality that our houses aren't worth what we thought they were. - David Willetts MP 15 March 2011.
Join today: British Goat Society
#7
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Posted 21 February 2012 - 09:51 AM
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?
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?
If you say "democorruptcy" quickly, it sounds a bit like "democracy". In a "democracy" people vote for politicians who represent their interests. In the UK's "democorruptcy" people can only vote for expense fiddling thieving MPs who are in the hip pocket of big business and the finance sector.
The Funding for Lending Scheme (FLS) is stealing from savers to make them pay for crimes by bankers. Via lower interest on savings, all the bank fines for PPI, LIBOR and interest rates swaps are now being paid by savers so that bankers can keep pocketing bonuses.
"We need to make a really big change: from an economy built on debt to an economy built on savings" - David Camoron Jan 2009
"Printing money is the last resort of desperate governments when all other policies have failed" - George Osborne Jan 2009
- So what do Camoron & Osborne do? Print money and leave interest rates at 0.5% when inflation is over 5%
If it is asserted that civilization is a real advance in the condition of man -- and I think that it is, though only the wise improve their advantages -- it must be shown that it has produced better dwellings without making them more costly; and the cost of a thing is the amount of what I will call life which is required to be exchanged for it, immediately or in the long run.
http://classiclit.ab...en-Part-2_4.htm
Did you recognise the two robbers in my avatar? Clue: One got a knighthood and inflation linked pension, the other a 150 year prison sentence.
The Funding for Lending Scheme (FLS) is stealing from savers to make them pay for crimes by bankers. Via lower interest on savings, all the bank fines for PPI, LIBOR and interest rates swaps are now being paid by savers so that bankers can keep pocketing bonuses.
"We need to make a really big change: from an economy built on debt to an economy built on savings" - David Camoron Jan 2009
"Printing money is the last resort of desperate governments when all other policies have failed" - George Osborne Jan 2009
- So what do Camoron & Osborne do? Print money and leave interest rates at 0.5% when inflation is over 5%
If it is asserted that civilization is a real advance in the condition of man -- and I think that it is, though only the wise improve their advantages -- it must be shown that it has produced better dwellings without making them more costly; and the cost of a thing is the amount of what I will call life which is required to be exchanged for it, immediately or in the long run.
http://classiclit.ab...en-Part-2_4.htm
Did you recognise the two robbers in my avatar? Clue: One got a knighthood and inflation linked pension, the other a 150 year prison sentence.
#8
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Posted 21 February 2012 - 09:59 AM
Durch, on 21 February 2012 - 09:54 AM, said:
They need Ocean Finance. (They might even treat themselves to a ride on mower while they are at it.)
Debt consolidation?
All the PIIGS debt in one big 100 year bond?
If you say "democorruptcy" quickly, it sounds a bit like "democracy". In a "democracy" people vote for politicians who represent their interests. In the UK's "democorruptcy" people can only vote for expense fiddling thieving MPs who are in the hip pocket of big business and the finance sector.
The Funding for Lending Scheme (FLS) is stealing from savers to make them pay for crimes by bankers. Via lower interest on savings, all the bank fines for PPI, LIBOR and interest rates swaps are now being paid by savers so that bankers can keep pocketing bonuses.
"We need to make a really big change: from an economy built on debt to an economy built on savings" - David Camoron Jan 2009
"Printing money is the last resort of desperate governments when all other policies have failed" - George Osborne Jan 2009
- So what do Camoron & Osborne do? Print money and leave interest rates at 0.5% when inflation is over 5%
If it is asserted that civilization is a real advance in the condition of man -- and I think that it is, though only the wise improve their advantages -- it must be shown that it has produced better dwellings without making them more costly; and the cost of a thing is the amount of what I will call life which is required to be exchanged for it, immediately or in the long run.
http://classiclit.ab...en-Part-2_4.htm
Did you recognise the two robbers in my avatar? Clue: One got a knighthood and inflation linked pension, the other a 150 year prison sentence.
The Funding for Lending Scheme (FLS) is stealing from savers to make them pay for crimes by bankers. Via lower interest on savings, all the bank fines for PPI, LIBOR and interest rates swaps are now being paid by savers so that bankers can keep pocketing bonuses.
"We need to make a really big change: from an economy built on debt to an economy built on savings" - David Camoron Jan 2009
"Printing money is the last resort of desperate governments when all other policies have failed" - George Osborne Jan 2009
- So what do Camoron & Osborne do? Print money and leave interest rates at 0.5% when inflation is over 5%
If it is asserted that civilization is a real advance in the condition of man -- and I think that it is, though only the wise improve their advantages -- it must be shown that it has produced better dwellings without making them more costly; and the cost of a thing is the amount of what I will call life which is required to be exchanged for it, immediately or in the long run.
http://classiclit.ab...en-Part-2_4.htm
Did you recognise the two robbers in my avatar? Clue: One got a knighthood and inflation linked pension, the other a 150 year prison sentence.
#9
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Posted 21 February 2012 - 10:20 AM
Mr. Beeny (I wish), on 21 February 2012 - 09:32 AM, said:
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.
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.
This is the space for the signature thingy.........
#10
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Posted 21 February 2012 - 10:23 AM
Mr. Beeny (I wish), on 21 February 2012 - 09:32 AM, said:
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.
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.
Blaming greed for a banking crisis is like blaming gravity for an airplane crash. Injin 10/12/2009 (a rare moment of clarity)
Red Kharma, on 31 May 2010 - 11:51 AM, said:
Most gold buyers will get creamed, eventually and for the very reasons they think they won't.
#11
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Posted 21 February 2012 - 10:32 AM
Zanu Bob, on 21 February 2012 - 10:23 AM, said:
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.
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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Posted 21 February 2012 - 10:37 AM
PricedOutNative, on 21 February 2012 - 09:02 AM, said:
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..
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..
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.
Plus ça change, plus c'est la même chose
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Posted 21 February 2012 - 10:39 AM
geezer466, on 21 February 2012 - 10:20 AM, said:
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.
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.
+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)
This post has been edited by LiveAndLetBuy: 21 February 2012 - 10:39 AM
#14
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Posted 21 February 2012 - 10:43 AM
LiveAndLetBuy, on 21 February 2012 - 10:39 AM, said:
snip Osborne (who was opposed to any form of monetary stimulus at the time)
wut?
As far as I recall, the Tories were silent on just about every issue.
WARNING
Your
country is at risk
if you
do not keep up repayments
on a gilt or other loan secured on it
Your
country is at risk
if you
do not keep up repayments
on a gilt or other loan secured on it
#15
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Posted 21 February 2012 - 10:48 AM
PricedOutNative, on 21 February 2012 - 09:02 AM, said:
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..
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..
He didn't take that view with Iceland.
it is, until it isn't tm