Jump to content
House Price Crash Forum
Sign in to follow this  
copydude

Biggest Threat To Europe Is A Bailout

Recommended Posts

Slovakia holding out against the bailout.

Richard Sulik, the speaker of the Slovakian parliament, is voting no.

If he persuades the other parties in the coalition to do the same - possible - the ESFS is dead.

In an interview with Spiegel he explains why.

Spiegel: Mr. Sulik, do you want to go down in European Union history as the man who destroyed the euro?

Sulik: We have to observe three points: First, we have to strictly adhere to the existing rules, such as not being liable for others' debts, just as it's spelled out in Article 125 of the Lisbon Treaty. Second, we have to let Greece go bankrupt and have the banks involved in the debt-restructuring. The creditors will have to relinquish 50 to perhaps 70 percent of their claims. So far, the agreements on that have been a joke. Third, we have to be adamant about cost-cutting and manage budgets in a responsible way.

Spiegel: Nevertheless, banks could run into significant problems should they be forced to write down billions in sovereign bond holdings.

Sulik: So what? They took on too much risk. That one might go broke as a consequence of bad decisions is just part of the market economy. Of course, states have to protect the savings of their populations. But that's much cheaper than bailing banks out. And that, in turn, is much cheaper than bailing entire states out.

Today, Slovakia has the lowest average salaries in the euro zone. How am I supposed to explain to people that they are going to have to pay a higher value-added tax (VAT) so that Greeks can get pensions three times as high as the ones in Slovakia?

This guy is totally off-message.

Share this post


Link to post
Share on other sites

Funny sods the slovakians - one of the poorest parts of the EU.

They split from the Czech Republic even though they basically had no economy, but then I guess if you are not sharing in the wealth of a country why be a part of it... Perhaps he is just posturing to get loads of EU money pumped into Slovakia... or perhaps he wonders why Slovakia is poor and is expected to support the likes of Greece?

Share this post


Link to post
Share on other sites

The man's right - everything he said is logical and correct - i hope the Slovaks don't have to pay the debts of the Greeks - let Greece and anyone else who borrowed too much burn! That's the consequence of spending beyond your means - just ask Portsmouth football club!

Share this post


Link to post
Share on other sites

Slovakia holding out against the bailout.

Richard Sulik, the speaker of the Slovakian parliament, is voting no.

If he persuades the other parties in the coalition to do the same - possible - the ESFS is dead.

In an interview with Spiegel he explains why.

This guy is totally off-message.

...seems reasonable ...this was bound to happen and once again proves the Euro in it's present form does not.... and will not work... :rolleyes:

Share this post


Link to post
Share on other sites

Richard Sulik, 43, is an economist specializing in tax policy, the speaker of the Slovak parliament and head of the Freedom and Solidarity (SaS) party, a minor party in the country's four-party coalition government. He lived and studied in Germany for over 10 years before returning to his homeland in 1991.

Sulik has been a vociferous critic of aid packages to Greece and of the expansion of the euro backstop fund, the European Financial Stability Facility (EFSF). As an adviser to the Slovak minister of finance, Sulik played a decisive role in the introduction of a 19 percent "flat tax" on incomes, which led investors to flock to the country.

Share this post


Link to post
Share on other sites

The man's right - everything he said is logical and correct - i hope the Slovaks don't have to pay the debts of the Greeks - let Greece and anyone else who borrowed too much burn! That's the consequence of spending beyond your means - just ask Portsmouth football club!

absolute nonsense, spending beyond your means is one of the fundamental cornerstones of human rights, next youll be calling for the segregation of black people and the removal of the vote from women

What a neanderthal

Share this post


Link to post
Share on other sites
Richard Sulik, 43, is an economist specializing in tax policy, the speaker of the Slovak parliament and head of the Freedom and Solidarity (SaS) party, a minor party in the country's four-party coalition government. He lived and studied in Germany for over 10 years before returning to his homeland in 1991.

Sulik has been a vociferous critic of aid packages to Greece and of the expansion of the euro backstop fund, the European Financial Stability Facility (EFSF). As an adviser to the Slovak minister of finance, Sulik played a decisive role in the introduction of a 19 percent "flat tax" on incomes, which led investors to flock to the country.

....impressive ...get him to head up the EU..... :rolleyes:

Edited by South Lorne

Share this post


Link to post
Share on other sites
Richard Sulik, 43, is an economist specializing in tax policy, the speaker of the Slovak parliament and head of the Freedom and Solidarity (SaS) party, a minor party in the country's four-party coalition government. He lived and studied in Germany for over 10 years before returning to his homeland in 1991.

Sulik has been a vociferous critic of aid packages to Greece and of the expansion of the euro backstop fund, the European Financial Stability Facility (EFSF). As an adviser to the Slovak minister of finance, Sulik played a decisive role in the introduction of a 19 percent "flat tax" on incomes, which led investors to flock to the country.

....impressive ...get him to head up the EU..... :rolleyes:

Edited by South Lorne

Share this post


Link to post
Share on other sites

absolute nonsense, spending beyond your means is one of the fundamental cornerstones of human rights, next youll be calling for the segregation of black people and the removal of the vote from women

What a neanderthal

whats wrong with saving money and using your surplus for investment, leisure?

Share this post


Link to post
Share on other sites

whats wrong with saving money and using your surplus for investment, leisure?

its degrading and demoralising, you might not be able to afford stuff youd like, its a very slippery slope back to living in caves

Edited by Tamara De Lempicka

Share this post


Link to post
Share on other sites

its degrading and demoralising, you might not be able to afford stuff, its a very slippery slope back to living in caves

yet being in debt to someone else isnt?

Share this post


Link to post
Share on other sites

my argument is those who have borrowed beyond their means should be the ones to pay, not everyone else around them

Share this post


Link to post
Share on other sites

Slovakia holding out against the bailout.

Richard Sulik, the speaker of the Slovakian parliament, is voting no.

If he persuades the other parties in the coalition to do the same - possible - the ESFS is dead.

In an interview with Spiegel he explains why.

This guy is totally off-message.

So true. And this is why gordon brown will go down in history as a clown imo.

We should of just backed the savings in 2009. Let the banks go to the wall and support the savings of british people. SImples.

Share this post


Link to post
Share on other sites

absolute nonsense, spending beyond your means is one of the fundamental cornerstones of human rights, next youll be calling for the segregation of black people and the removal of the vote from women

What a neanderthal

So true. Good post.

The greeks human rights are being betrayed. No man should have to work past the age of 50 and not be able to receive a massive pension and public services.

Its an outrage. These german need to knuckle down and up their retirement age to 80 years and work 60 hour weeks to stop these horrible human right infringments in greece.

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...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 284 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.