The Consequences of Brexit [part 4]

[andyofborg]

I was the same. For me it was the treatment of smaller countries like Greece by the core. The treatment meted out basically on behalf the Germans was utterly gobsmacking.

 

what else could they have done?

[L00b]

what else could they have done?

Precisely.

 

They're writing the cheques to keep the Greeks on life support.

 

The Greeks ended up requiring life support, because they'd been partying ever since they joined the Eurozone on the back of Goldman Sachs cooking their books, without a care in the world.

 

The Greeks were just made to take their very long-overdue fiscal medicine. Some more EU member states are in that situation.

 

Part and parcel of the stick side (vs carrot side) of the EU, for sure...but objectively, it's no different whatsoever in principle to their having to go to the IMF. Only the EU angle keeps it "in the family", as it were, rather than letting the problem country get itself a new one torn by (mostly US) hawks.

 

The alternative for Greece was the same, as Labour not bailing the banks in this country back in 2008. Think on the likely consequences a bit. (I seem to recall that we may have had a bit of a debating ding-dong about this back in the day, I1L2T3 ).

Edited July 13, 2017 by L00b

[Litotes]

I went to the government petitions website tonight and it isn't operating!

 

I wanted to propose a referendum about whether or not we should have a second referendum.

 

No-one should object to that as it would clear the matter of if there was a desire for a second referendum up once and for all.

[Carlinate]

 

The Greeks ended up requiring life support, because they'd been partying ever since they joined the Eurozone on the back of Goldman Sachs cooking their books, without a care in the world.

 

I1L2T3 ).

 

What Goldman Sachs did with regard to cooking the books to enable Greece to join the EU when they should have been ineligible was outrageous.

 

Given that Goldman Sachs is an American company and has close connections to the US establishment it could be regarded as a deliberate act carried out in order to weaken an economic competitor.

 

They had to know what the result of their financial duplicity would be.

 

Having said which, it was well short of competency by the EU in allowing a non EU organization to have such input into the application.

 

I notice that Goldman Sachs are another one of the companies making contingency plans for Brexit by obtaining property in Paris and Frankfurt with the intention of moving staff ( or their jobs ) out of London.

[I1L2T3]

what else could they have done?

 

Debt forgiveness from German banks over-extended in their Greek investments.

 

Not driven hundreds of thousands of Greek families into penury.

 

Let's face it the elephant in the room is that Grexit would have destroyed some German banks, so the whole thing was focused on punishing the Greeks while diverting attention away from the fragilities of the German financial sector.

 

That's the truth.

[retep]

This is the club some want to stay in,

 

"How Merkel's Germany PROFITS from Greek debt misery with £1BILLION pocketed so far"

 

nice partner.

[tzijlstra]

This is the club some want to stay in,

 

"How Merkel's Germany PROFITS from Greek debt misery with £1BILLION pocketed so far"

 

nice partner.

 

'How the UK profits from migration'

 

Nice partner.

 

Get out already, let the EU move on.

[Hairyloon]

I went to the government petitions website tonight and it isn't operating!

 

It shut down for the election. The new chair has been selected, they should be back up and running soon.

[andyofborg]

'How the UK profits from migration'

 

Nice partner.

 

Get out already, let the EU move on.

 

no, we're stopping

[Carlinate]

Debt forgiveness from German banks over-extended in their Greek investments.

 

Not driven hundreds of thousands of Greek families into penury.

 

Let's face it the elephant in the room is that Grexit would have destroyed some German banks, so the whole thing was focused on punishing the Greeks while diverting attention away from the fragilities of the German financial sector.

 

That's the truth.

 

You mean like the British government offered ' debt forgiveness ' to the Irish banks?

 

Instead of which they made multi Millions out of the deal.

 

https://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=3&cad=rja&uact=8&ved=0ahUKEwjfjrShoofVAhVmKcAKHQ0RDusQFgg3MAI&url=http%3A%2F%2Fwww.thejournal.ie%2Fireland-interest-repayment-to-britain-1120288-Oct2013%2F&usg=AFQjCNEGQwy_RBmwjDK0mUur4ZN3PBb44Q

 

British banks had jumped at the opportunity to make profit out of the Irish Celtic Tiger boom and had made exactly the same errors of judgement that got the Irish banks into trouble.

 

British banks were exposed to the tune of £140 Billion.

 

https://www.google.co.uk/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&uact=8&ved=0ahUKEwj_nYTUpofVAhULJMAKHWdyBekQFggtMAA&url=http%3A%2F%2Fwww.telegraph.co.uk%2Fnews%2Fworldnews%2Feurope%2Fireland%2F8141618%2FBritish-banks-have-140-billion-exposure-to-Irelands-economic-crisis.html&usg=AFQjCNGw1AxJqscNqlG0U2-sGiHglFXzCQ

 

The UK had no option but to offer the loan or suffer a domino effect.

 

It was a loan on which interest was payed, but the Irish had to listen to a load of pompous nauseating BS from Osborne and the British media about how they were doing them a favour out of the goodness of their hearts.

 

I have no problem with Britain making a profit from the loan, that's business, but could have done without the self aggrandizing nonsense that went with it.

 

Not that much different to what Germany did with the Greeks really, was it?