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House Price Crash Forum

Tabletop

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  1. It is in effect an interest only loan, rather than repayment. Just like in the domestic housing market it means you can borrow more at lower cost. Catch is the capital sum is never repaid unless inflated away, leaving our debts to our children.
  2. I am Scottish born and bred and live in the central belt. WATP, is right there is no great enthusiasm here to breakaway. It is a subject like religion that most people prefer to avoid even when talking to friends and family. A country does not break up without a ground swell of feeling and a national movement, this just does not exist in Scotland. There is simply "too much water under the bridge" between Scotland and the rest of the UK, too many shared values and a mutual dependence that makes divorce a unlikely scenario. Salmond know this, hence the desire for a third question on the ballot form. The final outcome will be an enhanced form of devolution. Not the "devo max" option desired by Salmond, but negotiated between Scotland and the rest of the UK. How this debate on enhanced devolution progresses, what question finally goes on the ballot paper and the subsequent negotiations are the interesting points. Again, Salmond knows this and with the outcome rests his political existence.
  3. Surely the biggest problem within the Eurozone is the massive German balance of payments surplus? Until sometime earlier this year when China surpassed it, Germany was the worlds biggest exporter and it has a bloated trade surplus to match! What hope do the countries in the periphery have against this export machine? Where in the treaty of Rome did it say that Germany was to make the goods that others were to consume (or at least until their credit lines run out)? - Surely part of the answer to the Eurozones woes is for the German Government to encourage it's exporters to move production from the Rhur to the Tiber? Similar to the UK Government enforcing a regional policy in the 60's when steel companies and motor manufacturers were required to set up factories in Scotland, Wales and the North of England rather than their preferred Midland and southern sites? Admittedly not necessarily efficient, but necessary all the same? - Just as China cannot forever run a surplus, neither can Germany. The EU must see this, so why is it never seriously challenged? - Is this Germany's Achilles heal and is it time for Cameron to make it an issue? http://en.wikipedia.org/wiki/List_of_sovereign_states_by_current_account_balance
  4. Bloody hell Ruffles, may as well just slit my wrists now then Does make you think though.
  5. Simplify this for me. The Euro breaks up and each country re-issues it's own currency. What would be the position in the following circumstances: 1. Irish Company with Euros 100M deposited in German bank. Would this be converted to New DM or New Punt ? 2. Irish Citizen (rich) with Euros 1M on deposit with British bank on the Isle of Man? Converted to New Punt, Sterling, Nothing? 3. Hedge fund with Euros 50M on deposit in London with various banks (banks British, European and North American domiciled). Converted to what ????
  6. What is the net position? Presume in addition to having these massive debts we are also owed large sums? In the article he hints that the City of London contributes substantially towards the debts but makes no attempt to explain the other side of the balance sheet. Maybe I am missing something, but to my mind without the whole article smacks of sensationalism.
  7. Long-time lurker, but looking forward to making a contribution to the occasional thread.
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