posted on May, 12 2010 @ 01:49 AM
Originally posted by grantbeed
Britain have said no, and now they may be made to pay.
Sounds like there are deep relationship cracks behind the scenes here.
Britain will be hoping there is no crisis like the one in Greece, thats for sure.
That's common sense. If one shows no solidarity, you can't possible expect the other to be merciful. This is why the EU doesn't work. Nationalistic
sentiment and chauvinism influence European politics so much that it blocks real progress.
A couple of month ago, Brown said that Greece is a Eurozone problem. Obviously, that is what the masses like to hear, but in reality British banks are
exposed to PIIG countries for an amount of approximately E100 billion. If Greece goes down, it is gonna affect the British economy badly. Bear in mind
that UK debt as percentage of GDP is third only behind Iceland and Greece.
Since Britain refuses to take responsibility, it's not that strange that they are being told not to expect any help if they get in the cross hairs of
speculators. In the early 90s, Soros made the Pound collapse and considering the fragile economic state of the British economy, it wouldn't surprise
if the focus is being shifted from the Euro to the Pound.
Originally posted by thoughtsfull
But I am not sure what short term gains will be achieved with Britain giving over £50bn except ensure Britain is in a worse financial situation..
IMHO, it is simply robbing Peter to pay Paul, and you can't do that for long without getting into deeper difficulties.
That's true, but if Greece goes down, Britain also as an extremely big problem. Shifting off responsibility is pathetic, but on the other hand I
agree with you. I believe this will only temporarily help. Either way, we'll lose the money.
[edit on 12-5-2010 by Mdv2]