Jump to content
House Price Crash Forum
ralphmalph

Osbourne Does The Uk Proud

Recommended Posts

http://www.politicshome.com/uk/article/18579/osbornes_irish_deal.html

As we all know Darling wrote a blank cheque for the UK taxpayer after they had lost the election to be a contributor to the Euro Stability fund, eventhough we are not part of the Euro.

Well Osbourne, who clearly has the UK taxpayer at the front of his mind, has negotiated us out of the Darlings commitment in return for us fleecing Ireland with an extortionate interest rate.

Well done, because we all know Portugal is next and then Spain and we will not be paying (apart from the IMF which is OK).

Edited by ralphmalph

Share this post


Link to post
Share on other sites

http://www.politicshome.com/uk/article/18579/osbornes_irish_deal.html

As we all know Darling wrote a blank cheque for the UK taxpayer after they had lost the election to be a contributor to the Euro Stability fund, eventhough we are not part of the Euro.

Well Osbourne, who clearly has the UK taxpayer at the front of his mind, has negotiated us out of the Darlings commitment in return for us fleecing Ireland with an extortionate interest rate.

Well done, because we all know Portugal is next and then Spain and we will not be paying (apart from the IMF which is OK).

...Only after 2013. Before then, we'll still be liable.

So that's us buggered then.

Share this post


Link to post
Share on other sites

...Only after 2013. Before then, we'll still be liable.

So that's us buggered then.

Is that true? I have re read the article and it is not clear either way but does mention future mechanisms.

Share this post


Link to post
Share on other sites

Is that true? I have re read the article and it is not clear either way but does mention future mechanisms.

Yes its true

http://www.bbc.co.uk/news/world-europe-11855990

Spain, Portugal, Italy and a few others will need bailing out before 2013.

However, this means UK is opting out fiscal union (which is where I see all this going so the Euro is saved).

That could be very significant,

Share this post


Link to post
Share on other sites

Osbourne is a class act.

About time the UK tax payer became important again.

Is this the same Osborne that just promised to send £7bn of UK taxpayers' money to Ireland to bail out a bunch of failed property developers and their backers?

Share this post


Link to post
Share on other sites

Interesting story. I presume this also means that Britain won't be able to make a claim for a bailout should we need it. Sounds good, since we will then have to let our banks fail rather than borrow to bail them out.  B)

Share this post


Link to post
Share on other sites

Interesting story. I presume this also means that Britain won't be able to make a claim for a bailout should we need it. Sounds good, since we will then have to let our banks fail rather than borrow to bail them out.  B)

Uk's lenders would have to bailout the UK regardless. However, UK don't need to borrow as its bonds are longest term in the world - 14years on average. Plus UK can devalue the Pound and inflate away the debt.

Germany has to borrow far more than the UK this year, if the Euro fails they will need a bail out

Share this post


Link to post
Share on other sites

Uk's lenders would have to bailout the UK regardless. However, UK don't need to borrow as its bonds are longest term in the world - 14years on average. Plus UK can devalue the Pound and inflate away the debt.

Germany has to borrow far more than the UK this year, if the Euro fails they will need a bail out

Fair points, especially on the long term debt, although devaluation must be comparative and so it assumes that other currenices don't devalue. I know we've managed to devalue the pound quite a bit already, so how much lower can it go comparatively? Still, it seems national bail-outs are effectively bailouts of banks (national and international) - the quicker everyone follows the Icelandic example the better - no bank bailouts, we'll take the medecine.

Share this post


Link to post
Share on other sites

Picture of Osborne and the French Finance minister in the paper this morning (metro I think) made me feel better about things. He looked like he'd just truly ******ed them over, and was feeling pretty good about it. Better than she was anyway.

Don't think it was this one, but pretty similar :)

1290951610.jpg

Edited by RichB

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.

  • 152 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.