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Just a thought.....how is all this monopoly money lent to EU countries to be repaid?

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Just a thought.....how is all this monopoly money lent to EU countries to be repaid?

Post  Panda on Wed 21 Nov - 8:18

Just watched an interview with Irish Business men on the plight they are in , even soup kitchens in some areas and the suggestion that another bail out, while necessary, will not be repaid. Ireland, like Spain made big developments in Houses which now are unaffordable and owners unable to repay mortgages.

The Irish blame the Banks for being so profligare with Loans , like Britain, offering up to 100 % when the housing boom was in full swing. The Banks were even offering Home owners extra money when their Homes rose in value !!!!

We know the Banks were not regulated enough in the EU , but this was the fault of Governments for not monitoring what was going on and taking action sooner. As one Irish Trader interviewed said "It is the poor who pick up the tab."

Which brings me to ask the question.........how are the Countries accepting bailouts of BILLIONS ever going to repay ?????? Will the ECB print more money to cope with the demand, thereby creating more debt? Will Banks go into liquidation ? Will there be a Depression ? If lessons are not learned from this crisis and a fairer distribution of wealth in future ..................................

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Re: Just a thought.....how is all this monopoly money lent to EU countries to be repaid?

Post  fuzeta on Wed 21 Nov - 18:06

Panda wrote:Just watched an interview with Irish Business men on the plight they are in , even soup kitchens in some areas and the suggestion that another bail out, while necessary, will not be repaid. Ireland, like Spain made big developments in Houses which now are unaffordable and owners unable to repay mortgages.

The Irish blame the Banks for being so profligare with Loans , like Britain, offering up to 100 % when the housing boom was in full swing. The Banks were even offering Home owners extra money when their Homes rose in value !!!!

We know the Banks were not regulated enough in the EU , but this was the fault of Governments for not monitoring what was going on and taking action sooner. As one Irish Trader interviewed said "It is the poor who pick up the tab."

Which brings me to ask the question.........how are the Countries accepting bailouts of BILLIONS ever going to repay ?????? Will the ECB print more money to cope with the demand, thereby creating more debt? Will Banks go into liquidation ? Will there be a Depression ? If lessons are not learned from this crisis and a fairer distribution of wealth in future ..................................


Bremner, Bird and Fortune did a spoof a long time ago on this particular subject. It was hilarious but so true, oh so true. It basically said it just keeps going around and no one knows where the buck stops

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Re: Just a thought.....how is all this monopoly money lent to EU countries to be repaid?

Post  Panda on Wed 21 Nov - 18:34

fuzeta, I really despair of Politicians !!! When I was a Member of 3as I used to have late night chats with a Brit living in Russia , I think he might have been a Diplomat . Anyway, we were talking one night and he said MP's , elected by their Constituents enter Parliament from all walks of life. Some are chosen to be part of the Cabinet and given a Ministry without any experience at all. To be a Chancellor, you should be an Economist for example .

Tony Blair succeeded in doing away with Permanent Civil Servants who knew more than the Ministers.

Now we have the EU , after 3 years still unable to reach a decision on how to treat the Greek crisis and another Summit meeting undecided what to do.LaGarde the Head if the IMF says the IMF cannot afford to lend any more money and suggests the EURO Countries write off Greek debt.Naturally the EURO Countries disagree.

An Analyst said earlier that Merkel wants to delay any decision until after the German election , then Greece can default.what a selfish woman ansd this is why Politicians only want to look after number 1.

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Re: Just a thought.....how is all this monopoly money lent to EU countries to be repaid?

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