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EU Politics - Hamsterwheel

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EU Politics - Hamsterwheel

Old 3rd Nov 2012, 12:42
  #2481 (permalink)  
 
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OFSO, i can't even get my head round that.
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Old 3rd Nov 2012, 21:04
  #2483 (permalink)  
 
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French PM stirs controversy over 35-hour work week - FRANCE - FRANCE 24

" Asked if it could make sense to revert to a working week of 39 hours, Ayrault told Le Parisien newspaper: “Nothing’s taboo. I’m not dogmatic ... The only thing that worries me is that France has broken down and we need to restart with the engine firing on all cylinders.”

Ayrault, whose five-month-old government has been criticised for a string of communications gaffes, later clarified his remarks after business and union leaders seized on them as signalling a major policy shift.


“I said nothing was taboo. But this is simply not a cause the government advocates. There will be no rolling back the 35-hour week because it is not the cause of our difficulties,” he told French radio. "



I'm sure the Chinese will be impressed if the French contractors stick to a 35 hour week building the center .

France



Last edited by TZ350; 3rd Nov 2012 at 21:07.
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Old 5th Nov 2012, 07:24
  #2484 (permalink)  
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'Mafiosi' stand to gain most from EU bail-out of Cyprus

Russian oligarchs and "mafiosi" who have parked their illegal earnings inside the country stand to benefit most from an EU bail-out of Cyprus, according to a report by Germany's intelligence agency.
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Old 5th Nov 2012, 10:13
  #2485 (permalink)  
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British economy to grow faster than all major countries in Europe

Britain's economic growth will outpace that of any other major European country over the next couple of years, according to a thinktank, as the Bank of England is expected to vote against more stimulus.

Britain's economic growth will outpace that of any other major European country over the next couple of years, as parts of the Continent face "social breakdown", according to a think–tank.

Predicting that recession would continue in the eurozone in 2013, with only marginal growth in 2014, the Centre for Economics and Business Research said Britain would grow by 0.8pc and 1.4pc respectively. Germany, Europe's largest and most powerful economy, is expected to grow by 1.2pc in 2014, while France is expected to grow by 0.2pc, according to the CEBR.

"The economic situation in some parts of Europe is moving from bad to catastrophic. There is a danger that the economic problems will spill over into social breakdown in many areas of Europe as unemployment soars and governments run out of money," said Douglas McWilliams, the chief executive of CEBR. "We're moving to a situation that hasn't happened to a Western economy in peacetime."..............

Last edited by ORAC; 5th Nov 2012 at 10:15.
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Old 7th Nov 2012, 12:11
  #2486 (permalink)  
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One hears that Greece will run out of money on November 15th, a week away.

Given that they haven't met the absolutely can't be dodged, no way out of it, look, this time we are serious, no honestly we mean it criteria necessary in order to be given, sorry, "loaned" the next tranche of bail-out money, things are looking grim.

What are the odds on Greece being given the money anyway ?

a) Very likely
b) Absolutely Certain
c) Here it is, but this is really the last time, don't come running to us next year when you're bankrupt again...etc etc etc
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Old 7th Nov 2012, 18:02
  #2487 (permalink)  
 
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The odds of Greece being told to "Go Forth and Multiply" have increased now the US Election is over. There is a post earlier in both this thread and the US Politics one about this, about how the US and EU kinda had "a little chat" and agreed to keep things ticking over until after the election so a partial meltdown would not harm Obama's chances of re-election, how the "nuclear" option was not going to be available.

Now that matter is over, the only thing that is left is to think of the temporary pain of Greece leaving the Euro versus the continuing slide downwards that Merkel and the rest have to think about, they have to think about how long their electorate will tolerate being dragged down by others. And since there is an election in Germany next year, such thinking could be rather crucial.
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Old 7th Nov 2012, 20:27
  #2488 (permalink)  
 
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“In 1995 the European Court of Auditors, the accountants who vet the EU’s financial statements, refused to approve the annual accounts because they contained too many errors and too much evidence of misspending. In 1996 the Court once more refused to approve the accounts without qualification. And in 1997. And every year since then. And it happened again this week, for an 18th successive year. Fortunately, nobody other than the auditors pays much attention to the EU accounts. Even if they did they would be reassured to see that only a little over €5bn a year goes to waste. That’s a loss of less than 4%.”
€5 billion.........Pah! Hardly worth mentioning
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Old 8th Nov 2012, 07:11
  #2489 (permalink)  
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Hollande is cuting an other 20 billions taxes. What political party is he again?
I am a bit lost.
I am not saying it won't work, but I don't understand anything anymore about political parties.
Unless the only pilitic possible in EU is austerity and cuting taxes, whatever your party.

ORAC the oracle:
Britain's economic growth will outpace that of any other major European country over the next couple of years, according to a thinktank, as the Bank of England is expected to vote against more stimulus.
Already heard that on in the past.
will outpace that of any other major European countryVery british those days. I thought France was arrogant, well, it seems you want to steal our seat, you are welcome you can take it.

That being said, I really hope the UK economy will do well, and I want to believe there are some good signs right now.
Austerity is paying after a while?
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Old 8th Nov 2012, 07:27
  #2490 (permalink)  
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That being said, I really hope the UK economy will do well, and I want to believe there are some good signs right now. Austerity is paying after a while?
What austerity?

Take away the smoke screen and there has been no austerity or cuts, there has only been a reduction in the rate of increase. The UK is now borrowing more and faster than ever.

The improvement is due to the devauluation of Sterling against other currencies. The cure denied Greece, Portugal, Spain and others by being fixed at the Euro rate.
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Old 8th Nov 2012, 07:33
  #2491 (permalink)  
 
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Originally Posted by ORAC View Post
What austerity?

Take away the smoke screen and there has been no austerity or cuts
.

You might struggle a bit, in fact a lot convincing the public sector with that
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Old 8th Nov 2012, 08:11
  #2492 (permalink)  
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You might struggle a bit, in fact a lot convincing the public sector with that
Sod the public sector, they're sitting pretty on pay, jobs and pensions. It's the private sector that's suffered.

On a personal basis I went through risk of redundancy 3 times in 2009-2010 and was one of the few retained. Just been put at risk again, but this time they're shutting the office with 3 of us in it and were all going, so I expect to be out the door by the end of the month.

Don't believe the austerity hype



......This graph, compiled by Veronique de Rugy of the Mercatus Centre, shows that UK public expenditure has been growing at a pretty solid pace, even in real, inflation-adjusted terms. If you or I were in debt as deep as the government's, we would aim to cut our spending and reduce it. But the government continues to increase its spending, and continues to borrow and add to its debt to finance it. Indeed, the Treasury expects that UK government debt will increase three times, from around £581bn in 2008 when the present crisis hit, to £1,500bn in 2015/16 which is as far ahead as the Treasury forecasts..............

Last edited by ORAC; 8th Nov 2012 at 08:16.
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Old 8th Nov 2012, 08:33
  #2493 (permalink)  
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reduction in the rate of increase
I felt like Cameron was leading an austerity policy, but what are feelings against hard numbers? (providing your table above is correct)
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Old 8th Nov 2012, 08:41
  #2494 (permalink)  
 
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Originally Posted by ORAC View Post
Sod the public sector, they're sitting pretty on pay, jobs and pensions. It's the private sector that's suffered.
I am sure Mrs SFFP and many of her colleagues would like to take you to task on that quite clearly stupid assessment of things.

She was made redundant from her management post last year by Wilts Council, as we're many others as they are downsizing in light of the current economic mess.

She, like many others has no job, no pay and as she is not old enough she has no pension so no she, and they are definitely not sitting pretty

Maybe some more thought is needed in your posts
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Old 8th Nov 2012, 09:12
  #2495 (permalink)  
 
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ORAC, not quite as clear-cut as you claim. "Sitting pretty on jobs" doesn't reflect the loss (clear-out?) of nearly 100,000 jobs in 6 years. "Sitting pretty on pensions" doesn't reflect the switch from final salary to career average schemes, or the constant increases in pension contributions. I'm not arguing that these changes are unneccesary, but your statement was a bit simplistic.

As for the graph, how much of the "public sector" expenditure goes into private sector pockets through consultancies, agencies, PPI contracts &c?

Last edited by MagnusP; 8th Nov 2012 at 09:13.
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Old 8th Nov 2012, 09:38
  #2496 (permalink)  
 
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I’ve got sympathy with most of the above points of view.

People talk about austerity in the UK, but the reality is that in comparison to the Club Med countries what we’re experiencing is a very modest austerity-lite. The Brits just don’t do austerity. None of our political parties really have the courage to impose a full on austerity regime, which is why – as ORAC notes – the coalitions ambitions extend no further than trying to reduce the budget deficit, and even that over several years. It was notable that, before the last election, Cameron very quickly backtracked on his statements about an Age Of Austerity.

There’s no doubt that local authorities are shedding jobs, but how many of those are Indians rather than Chiefs? How many ‘non-jobs’ still exist? How much other wasteful expenditure is still out there – translation services, PR, pointless seminars and conferences?

And what about welfare? What kind of austerity is it where benefits increase at more than the rate of inflation and we pay child benefit to families with incomes in excess of £90K.
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Old 8th Nov 2012, 10:04
  #2497 (permalink)  
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the Club Med countries

And it's a bitter pill to swallow in my country of residence. If Catalunia were an independent nation, this is how the GDP per capita would shape up relative to the EU average set at 100.


1 Luxembourg 243
2 NL 120
3 Ireland 116
4 Austria 113
5 Denmark 111
6 Sweden 109
7 Catalunia 109
8 Belgium 107
9 Germany 105
10 Finland 104
11 UK 101
12 France 98
13 Italy 94
14 Spain (without Catalunia) 91
15 Greece 85
16 Portugal 71

and the league table of inter EU exports of goods and services:

1 Luxembourg
2 Belgium
3 Ireland
4 NL
5 Austria
6 Denrmark
7 Catalunia
8 Sweden
9 Germany
10 Finland
11 Portugal
12 Italy
13 Spain (without Catalunia)
14 UK
15 France
16 Greece

(Source University of Barcelona, Economic Institute of Barcelona)

Last edited by OFSO; 8th Nov 2012 at 10:04.
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Old 8th Nov 2012, 10:34
  #2498 (permalink)  
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Andy_S,

A lot of it is sleight of hand.

For example, Q2 2012 saw a reduction in the public sector employment by 235,000 - but the vast majority of that was by reclassifying FE and sixth form colleges as private sector, which eliminated 196,000 public posts.

SFP, my commiserations to your wife - but individual cases don't change the fact that in employment and pensions the private sector has suffered vastly worse than the public.
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Old 8th Nov 2012, 11:58
  #2499 (permalink)  
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you spin me right round, Andy, right round

Andy Spin:
People talk about austerity in the UK, but the reality is that in comparison to the Club Med countries what we’re experiencing is a very modest austerity-lite. The Brits just don’t do austerity.


I have heard everything in this thread AND its opposite aswell.

Sometime ago it was all about the southern countries wasting money in public finance, and now this is the southern countries being the austerity champion! Hilarious!
You go where the wind blows right?

I sometimes try to speak seriously here, but what a challenge with you guys! Try to be coherent for the thread sake!!!

All intertaining it is, I ve got to go: I am running short of oil burnt/microwave cooked/GMO/sugar free pop corn (much easier to cook than it seems).

Cheers.
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Old 8th Nov 2012, 12:25
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KAG,

I don't think I've EVER said that austerity in the Club Med countries is wrong in principle. Indeed, some of the measures being taken are both welcome and long overdue.

Whether it's appropriate without currency flexibility is a different question. As is the issue of that austerity being imposed from outside Spain's or Greece's borders........
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