Eurozone Crisis - Britain's Decision to Veto
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[font=verdana][color=green]Greetings,
As we know, the Eurozone Crisis threatens to engulf the entire world if it isn't sorted out in the near future. In the last couple of days, the European leaders have been at a summit in order to deal with the problem; with a deal being organised in the end. However, this did not involve Britain.
In this state of affairs, Britain was going to veto any 27 Treaty (a treaty involving all 27 members of the EU) if they didn't get their interests protected and safeguarded. Well, as it turned out, Britain did veto a treaty in the end. So, of course, I ask of you; do you agree or disagree with Britain's decision?
Looking at it objectively, I think that Britain had no other choice than to try and enforce the safeguards that it wanted; in the entirety of the EU, the City of London is the most economically powerful city and would have been hit hardest by the treaty provisions - sacrificing in the region of £40 billion. Not only that, but the EU Commission and ECB would have had access to - and ability to amend and alter - any Budgets drafted up by the Member States.
This is a lot of helpful information in this link; explaining all the nuances and technicalities that I can't possibly begin to explain here. There is also this link which accurately states what the countries wanted when they entered into negotiations; so you'll be able to compare how they faired in proceedings.
Also, I ask of you another question; do you believe that the Union should rescind many political agreements between the countries or become a more federal state, much like the US or Germany? This, of course, can be argued until the cows come home, but I believe that the EU should only concern the single-market and human rights; with so many different political standpoints and economic interests, it would be impossible to ever have a federal state.
I did read an interesting quote from some article: "When you go out with your 26 mates and only 3 of you are paying for the drinks, how will the others react if you decide to go home for an early night?" If you're not interested in politics, why not make a very relevant metaphor to hammer home the message?
I'm sorry if this thread steps on the toes of earlier threads concerning the EU, but I know that it is unique enough in its own right to have a separate thread.
As we know, the Eurozone Crisis threatens to engulf the entire world if it isn't sorted out in the near future. In the last couple of days, the European leaders have been at a summit in order to deal with the problem; with a deal being organised in the end. However, this did not involve Britain.
In this state of affairs, Britain was going to veto any 27 Treaty (a treaty involving all 27 members of the EU) if they didn't get their interests protected and safeguarded. Well, as it turned out, Britain did veto a treaty in the end. So, of course, I ask of you; do you agree or disagree with Britain's decision?
Looking at it objectively, I think that Britain had no other choice than to try and enforce the safeguards that it wanted; in the entirety of the EU, the City of London is the most economically powerful city and would have been hit hardest by the treaty provisions - sacrificing in the region of £40 billion. Not only that, but the EU Commission and ECB would have had access to - and ability to amend and alter - any Budgets drafted up by the Member States.
This is a lot of helpful information in this link; explaining all the nuances and technicalities that I can't possibly begin to explain here. There is also this link which accurately states what the countries wanted when they entered into negotiations; so you'll be able to compare how they faired in proceedings.
Also, I ask of you another question; do you believe that the Union should rescind many political agreements between the countries or become a more federal state, much like the US or Germany? This, of course, can be argued until the cows come home, but I believe that the EU should only concern the single-market and human rights; with so many different political standpoints and economic interests, it would be impossible to ever have a federal state.
I did read an interesting quote from some article: "When you go out with your 26 mates and only 3 of you are paying for the drinks, how will the others react if you decide to go home for an early night?" If you're not interested in politics, why not make a very relevant metaphor to hammer home the message?
I'm sorry if this thread steps on the toes of earlier threads concerning the EU, but I know that it is unique enough in its own right to have a separate thread.
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Britain and Germany can do whatever the fuck they want. Countries like Greece, Ireland and Spain have fucked them over so hard it's not funny because of their own fraudulent economic behaviours and not following simple guidelines and rules in an attempt to reap as many benefits as they could rather than building for a sustainable economy. Unlike the US which has made the same mistakes, the Eurozone doesn't have China to bail it out.
There are only going to three possible solutions to this crisis. Either there's going to be reforms on tighter regulations and control on capitalism and the free-market and Germany/Britain bail countries out again (highly unlikely to happen as every country are only self-interest political dickheads) or more likely the debt will just get passed down to the poor while the rich get bailed out and tax rates and inflation sky-rocket for future generations to pay off. The other possibility is revolution and anarchy.
TBH if i were living in a country involved heavily in the eurozone or in England/Germany/France, i would heavily consider migrating or if that's not possible, begin withdrawing all my funds from banks and keeping my cash in a safe.
There are only going to three possible solutions to this crisis. Either there's going to be reforms on tighter regulations and control on capitalism and the free-market and Germany/Britain bail countries out again (highly unlikely to happen as every country are only self-interest political dickheads) or more likely the debt will just get passed down to the poor while the rich get bailed out and tax rates and inflation sky-rocket for future generations to pay off. The other possibility is revolution and anarchy.
TBH if i were living in a country involved heavily in the eurozone or in England/Germany/France, i would heavily consider migrating or if that's not possible, begin withdrawing all my funds from banks and keeping my cash in a safe.
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Anesthetize wrote...
Britain and Germany can do whatever the fuck they want. Countries like Greece, Ireland and Spain have fucked them over so hard it's not funny because of their own fraudulent economic behaviours and not following simple guidelines and rules in an attempt to reap as many benefits as they could rather than building for a sustainable economy. Unlike the US which has made the same mistakes, the Eurozone doesn't have China to bail it out.There are only going to three possible solutions to this crisis. Either there's going to be reforms on tighter regulations and control on capitalism and the free-market and Germany/Britain bail countries out again (highly unlikely to happen as every country are only self-interest political dickheads) or more likely the debt will just get passed down to the poor while the rich get bailed out and tax rates and inflation sky-rocket for future generations to pay off. The other possibility is revolution and anarchy.
TBH if i were living in a country involved heavily in the eurozone or in England/Germany/France, i would heavily consider migrating or if that's not possible, begin withdrawing all my funds from banks and keeping my cash in a safe.
1) Spain had a budget surplus before the economic downturn.
2) Germany reaped the rewards by creating a system where they ran huge current account surpluses. In short, they exported a lot to the Southern countries.
3) Revolution and anarchy aren't solutions, they're bad ends.