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UK Politics Hamsterwheel MkII

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UK Politics Hamsterwheel MkII

Old 15th Feb 2019, 13:11
  #4681 (permalink)  
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Ladies, why not open a new TescoPunter thread?

Let the rest of us get on with it.
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Old 15th Feb 2019, 13:21
  #4682 (permalink)  
 
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In some ways its standard EU tactics. Always say it the other sides problem to supply the solution and facts and unless the other side can come up with something else then yours are the correct ones. If the other side does come up with anything just say its invalid or not hard facts and castigate what they have said. Because lets face it nobody has a crystal ball that actually works.

So you have the other side running around in circles for you. And never budge from your own position.

Anyway thanks for the amusing distraction, I am away back to doing some pipeflow and heat transfer calc's for my hot water supply return loop. There is more chance of the real world providing the projected outcome with them, than there is the economic and political outcome of Brexit. The not freezing for 30 seconds while the hot water comes through to the shower and then go roasting will be well worth the effort.
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Old 15th Feb 2019, 13:45
  #4683 (permalink)  
 
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Why on earth should they do that and sacrifice all the benefits they get from being an EU member?
That's the problem if the hit to the Irish economy is more than the benefits they might not have much choice in the matter unfortunately.

Its a bit like giving them NI which I can assure you that a lot of UK people would be more than happy with.

It currently costs the UK 11 billion a year net for NI (that's with the actual amount minus the tax's generated there) I think the number for what the UK pays into the EU which nobody argues with is at least 9 billion?

They just can't afford to take it back, same with the potential fall out with Brexit. Their GDP is around 280 billion. 4% cost,

UK with 2260 billion its 0.5%
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Old 15th Feb 2019, 13:59
  #4684 (permalink)  
 
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I see Ireland has already made its case to the EU that they'll need substantial propping up in the event of a no deal Brexit.

Better hope that German economy stays out of recession ...and that Spain says solvent ...and Italy ...and hopefully Greece wont need any more bailous either.

Who'd be an EU central banker, eh?
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Old 15th Feb 2019, 14:16
  #4685 (permalink)  
 
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Originally Posted by andrewn View Post
I see Ireland has already made its case to the EU that they'll need substantial propping up in the event of a no deal Brexit.

Better hope that German economy stays out of recession ...and that Spain says solvent ...and Italy ...and hopefully Greece wont need any more bailous either.

Who'd be an EU central banker, eh?
I read a piece yesterday about Target 2. The figure Germany is owed by this clearing system is now 1tn. The economist describe this system is like playing Monopoly, where you keep on lending money to people to pay fines. They then incur more fines because they can't pay so you lend them more money etc etc. There is no physical money, just this clearing system. Germany is the lender and the other EU countries, Greece, Italy etc are the recipient's.
This is obviously unpayable. Will the German population bail out the banks when this comes crashing down?
How can any institution have been built on this much credit?
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Old 15th Feb 2019, 16:10
  #4686 (permalink)  
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Originally Posted by tescoapp View Post
That's the problem if the hit to the Irish economy is more than the benefits they might not have much choice in the matter unfortunately.

Its a bit like giving them NI which I can assure you that a lot of UK people would be more than happy with.

It currently costs the UK 11 billion a year net for NI (that's with the actual amount minus the tax's generated there) I think the number for what the UK pays into the EU which nobody argues with is at least 9 billion?

They just can't afford to take it back, same with the potential fall out with Brexit. Their GDP is around 280 billion. 4% cost,

UK with 2260 billion its 0.5%
Is that right ?..well, well ! and what, apart from your own idiosyncratic bias, gives you that impression ?...facts would be useful here, not that any are available as we know, but don't include me in the "a lot " as mentioned above because my time spent in N.I was very enjoyable and I got to see, and meet, some interesting people, some being "interesting " than others. There again, I have this strange ability to talk to, and with, people.....rather than at.......and listen at the same time.

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Old 15th Feb 2019, 16:24
  #4687 (permalink)  
 
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The Nip, have a look here ECB the current big funding of the ECB balance sheet is done by:
Germany - 17.998%
France - 14.179%
UK - 13.674%
Italy - 12.31%
Spain - 8.841%
Poland - 5.123%
Netherlands - 4.0035%

All the other countries involved in the ECB contribute less than 4% each making the top 7 countries accountable for 76% of the ECB's balance sheet.
This ABNAmro economist likens the TARGET system to a ticking time bomb.....
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Old 15th Feb 2019, 16:30
  #4688 (permalink)  
 
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Originally Posted by LowNSlow View Post
The Nip, have a look here ECB the current big funding of the ECB balance sheet is done by:
Germany - 17.998%
France - 14.179%
UK - 13.674%
Italy - 12.31%
Spain - 8.841%
Poland - 5.123%
Netherlands - 4.0035%

All the other countries involved in the ECB contribute less than 4% each making the top 7 countries accountable for 76% of the ECB's balance sheet.
This ABNAmro economist likens the TARGET system to a ticking time bomb.....
Thank you. It is something I had heard about but never read about. I was totally gobsmacked how this system has been allowed to create such hidden debt. The EU seem to have decided that our childrens children etc etc are going to live in debt.
I fully accept that the UK has the same problem, but not too Target2 levels!!
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Old 15th Feb 2019, 16:30
  #4689 (permalink)  
 
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ok I won't include you in a lot.

it will get reunited at some point.

My time there too as a civilian was very enjoyable. And I really hope they can find a way for everyone to live in peace.
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Old 15th Feb 2019, 16:42
  #4690 (permalink)  
 
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Tescoapp, having read all your contributions to this discussion, I have come to the conclusion that you are not quite right in the head, Regards,kkbuk.
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Old 15th Feb 2019, 16:48
  #4691 (permalink)  
 
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While staying in the EU is wanted by many people, the excerpt describes the only way the EU and EURO can survive.

The following is from University of London , open access city
Professor David Blake
May 2018.

Europe’s political establishment dismiss all this as simply not understanding the real game or the degree of patience that is required. The Eurozone crisis is just another crisis on the long and irreversible road to fiscal and political union, with Target2 as a convenient device to dampen the crisis – just so long as German savers and taxpayers don’t get to hear about it. But this time, they could have taken a leap too far.

• The euro can therefore survive only so long as Germany, in particular, continues – albeit reluctantly – to finance the balance of payments deficits of other Eurozone members, in particular, Italy and Spain. This requires it both to recycle its trade surpluses back to countries with trade deficits and to be the main recipient of capital flight from Eurozone states with weak and weakening banking systems.
• Target2, the apparently innocuous Eurozone payments system, is critical to facilitating the payment flows between surplus and deficit countries. The Target2 credits of countries such as Germany almost exactly match the balance of payments deficits of countries such as Italy and Spain. Since these deficits can never be repaid, the euro can only survive if Germany, in particular, agrees to mutualise Eurozone debts so that the Eurozone becomes a transfer union.
• Political union together with a common fiscal as well as monetary policy is the only realistic way of saving the euro in the long term and avoid further failed rescue packages. This is, of course, what Europe’s political establishment wants and has been preparing for since the days of Jean Monnet, but it is not obvious that this is what the people of Europe want.209 However, given the size of the Target2 imbalances, it is also conceivable that the Eurozone will not survive and will eventually break up; this becomes more likely if political support for the euro project, particularly in Germany, begins to wane.
Target2 is indeed the silent bailout system that keeps the euro afloat – for now.
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Old 15th Feb 2019, 16:55
  #4692 (permalink)  
 
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Originally Posted by kkbuk View Post
Tescoapp, having read all your contributions to this discussion, I have come to the conclusion that you are not quite right in the head, Regards,kkbuk.
Don't you think that's a little unfair? Tesco has established that he knows more than any of us on banking, transport, politics, international relations and gynaecology. We should be grateful for his continued valued contributions to this group, whilst he builds his house in the EU.
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Old 15th Feb 2019, 17:03
  #4693 (permalink)  
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Originally Posted by Sallyann1234 View Post
Don't you think that's a little unfair? Tesco has established that he knows more than any of us on banking, transport, politics, international relations and gynaecology. We should be grateful for his continued valued contributions to this group, whilst he builds his house in the EU.
Tsk ! you forgot the bit about doing some, ostensibly, flying in the above......and logistics.. the bit wots separate to trucking and transport...and international tourism.

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Old 15th Feb 2019, 17:12
  #4694 (permalink)  
 
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we shall see what happens.

If I did suddenly agree with you all its not going to change anything .
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Old 15th Feb 2019, 17:18
  #4695 (permalink)  
 
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The remain faction here have exposed as fantasy the idea that the EU values solidarity above economics, and will protect Irish interests. Maybe they should have a word wth the Irish press....

https://www.independent.ie/opinion/e...-37818812.html
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Old 15th Feb 2019, 17:19
  #4696 (permalink)  
 
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If this Oirish border issue is going to cause the UK to leave with no deal, and therefore have a hard border, why are the Oirish Government so hell-bent on mucking up the deal, and getting a hard Border?
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Old 15th Feb 2019, 18:27
  #4697 (permalink)  
 
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Originally Posted by Fitter2 View Post
The remain faction here have exposed as fantasy the idea that the EU values solidarity above economics, and will protect Irish interests. Maybe they should have a word wth the Irish press....

https://www.independent.ie/opinion/e...-37818812.html
'A senior source' with no name of course.

We've reached the point where quitters cannot articulate any tangible benefits for their unicorn world, all that remains is to dig up something, anything to disparage the EU.

I say reached, did you lot ever have anything to offer the majority who didn't vote to leave?
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Old 15th Feb 2019, 18:56
  #4698 (permalink)  
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say reached, did you lot ever have anything to offer the majority who didn't vote to leave?
What majority? Remain plus non-voters plus under 18s?
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Old 15th Feb 2019, 19:13
  #4699 (permalink)  
 
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Joking aside, that's one of the reasons why a 2nd Ref or peoples vote or whatever should never take place (for the next 40 years anyway)

Can you imagine the lengths both sides would go to to try to ensure a win? Your dearly departed Granny submitting a postal vote from the grave (who knew she was a Remainer?), nasty people trawling nursing homes to drag the elderly out to vote. It could get really stupid, and quite intimidating for a lot of people who perhaps dont feel that strongly about it, either way.

I think we've all had enough of Referendums, for now at least.
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Old 15th Feb 2019, 19:14
  #4700 (permalink)  
 
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Originally Posted by Parapunter View Post
... did you lot ever have anything to offer the majority who didn't vote to leave?
What a strange concept of democracy! It does give the idea of someone having lost the argument.
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