Jump to content
House Price Crash Forum
Uriah Heap

Belgian Bail Out

Recommended Posts

I realise this is linked to the Irish bail out thread quite intimately (ooh err!) but as the Irish situation has been dealt with with great maturity and no recourse to obnoxious national stereotyping, I think we should indulge ourselves with a bit of mockery of the Belgians who seem to have a problem with zee little red cells on the financial spreadsheets at the moment.

Share this post


Link to post
Share on other sites

I realise this is linked to the Irish bail out thread quite intimately (ooh err!) but as the Irish situation has been dealt with with great maturity and no recourse to obnoxious national stereotyping, I think we should indulge ourselves with a bit of mockery of the Belgians who seem to have a problem with zee little red cells on the financial spreadsheets at the moment.

BI PIGS ??

Share this post


Link to post
Share on other sites

Belgium was mentioned when I asked who would be next to need a bailout.

I'm just glad it's contained.

Well if the BIPIGS all need a bailout, that is going to cost Germany a pretty penny, and they will need a bailout too.

So you will have your second 'G'.

Share this post


Link to post
Share on other sites

Dear Emporer Zod, King of all the known Universe.

Please send Cash.

Luv

Claude xx

Share this post


Link to post
Share on other sites

UK GB NI PIIGS = Is puking big

or, for the programmers its the

I Sink Pig Bug

Share this post


Link to post
Share on other sites

http://www.marketwatch.com/story/belgium-simmers-as-political-stalemate-continues-2010-10-18

There’s no ‘B’ in PIIGS, but Belgium could eventually cause headaches of its own for the euro zone if a bitter and protracted political fight prevents the country from hitting its deficit-reduction targets.

Worries about sovereign debt have dogged the 16-nation single-currency area since late last year, spurring a 110 billion-euro ($154 billion) bailout for Greece and the creation of a €750 billion emergency fund by the European Union and the International Monetary Fund to serve as a backstop for other problems.

.........

Belgium’s deficit figures raise few alarms, but government debt stands at around 100% of GDP, which compares more closely with Greece and Italy.

Unable to form a government

After the previous government fell in April, an election was held in June. But subsequent efforts to form a new government have repeatedly foundered as party leaders have been unable to overcome deepening divisions between Dutch-speaking Flanders in the north and French-speaking Wallonia in the south.

The New Flemish Alliance party, or N-VA, which favors the secession of Flanders from Belgium, was the top vote-getter in Flanders. They’ve pressed Walloon politicians for more fiscal independence in the nation’s three regions -- Flanders, Wallonia and Brussels.

The French-speaking Walloons fear that would put them at a disadvantage to their already-richer Flemish neighbors and view the N-VA’s demands as a precursor to splitting the country.

http://www.bloomberg.com/news/2010-10-06/belgium-risks-missing-its-budget-deficit-target-amid-political-stalemate.html

Belgium risks missing its deficit target by about half a percentage point of gross domestic product next year as the collapse of coalition talks hampers drawing up a 2011 budget.

The deficit will narrow to 4.6 percent of GDP in 2011 from 4.8 percent this year, according to the latest government projections, Budget Minister Guy Vanhengel and State Secretary Melchior Wathelet told reporters in Brussels today. That would leave Belgium about 1.8 billion euros ($2.5 billion) short of a target to trim the deficit to 4.1 percent of GDP next year, as agreed with the European Commission.

Prime Minister Yves Leterme said in an interview with public broadcaster VRT yesterday that he has no plans to start drawing up a 2011 budget, urging the country’s party leaders to form a coalition almost four months after deadlocked elections. Leterme’s federal government remains confined to a caretaker role after Flemish nationalist N-VA party pulled out of coalition talks this week, deepening the political stalemate.

“Additional measures are absolutely necessary to remain on track with the stability program,” Vanhengel said after a so- called inner cabinet meeting. “The sooner a new government can be installed, the better off we’ll be.”

Belgium debt levels are high, but they are adding to their debt mountain more slowly....

Edited by interestrateripoff

Share this post


Link to post
Share on other sites

Eventually it looks as if China is going to be on the hook to bail-out the eu.

So what's needed is an anagram of all the eu members.

Edited by billybong

Share this post


Link to post
Share on other sites

Eventually it looks as if China is going to be on the hook to bail-out the eu.

No China has it's own debt problems, have a look at it's regional govts, they are heavily indebted as they've all been property gambling with borrowed money.

Share this post


Link to post
Share on other sites

Dear Emporer Zod, King of all the known Universe.

Please send Cash.

Luv

Claude xx

Dear Claude,

thank you for informing me of the plight of the earth.

My advisors at Goldman Sachs inform me that if I do not mortgage the people's of the universe up to the hilt, then the CDS that they have issued to those feckless borrowers in Omega quadrant will have to be paid, and due to the careless delegation of responsibility for signing contracts to a minor official in the part employ of Goldman's, there is now no legal way out of our obligations to pay these out of taxpayer funds.

So could I ask you to forward a few bob in the opposite direction?

The rest of the galaxy is good for it, I promise.

Signed Zod,

Supreme Ruler of the Known Universe

(Known Universe is a fully incorporated subsidiary of Goldmand Sachs limited).

Share this post


Link to post
Share on other sites

Belgium does have some pretty significant assetts. Tin tin must be a nice little earner, and we all love their chocolate. They've also got royalties on the Jacques Brel back catalogue and at a pinch could sell franchises for the Smurfs.

I think they'll be fine.

Share this post


Link to post
Share on other sites

Belgium does have some pretty significant assetts. Tin tin must be a nice little earner, and we all love their chocolate. They've also got royalties on the Jacques Brel back catalogue and at a pinch could sell franchises for the Smurfs.

Not to mention the jewel in the crown - Plastic Bertrand!

Share this post


Link to post
Share on other sites

Belgium does have some pretty significant assetts. Tin tin must be a nice little earner, and we all love their chocolate. They've also got royalties on the Jacques Brel back catalogue and at a pinch could sell franchises for the Smurfs.

I think they'll be fine.

It doesn't have many sweeties these days. Godiva chocolates were recently purchased by a Turkish company and the famous 'Cote d'or' chocs by Kraft foods. The biggest Belgian beers like 'Stella Artois' are owned by InBev. The Belgian GB supermarkets are now owned by the French Carrefour. Nearly all the frites are McCain's. (Canada.)

Belgium is almost entirely owned by multinats.

Edited by copydude

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 142 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.