Broke Britain may be forced to bail out other eu countries..

Britain may have to stump up tens of billions of pounds more to bail out bankrupt eu countries. The uk will be powerless to say no if brusels demands further cash for faltering nations such as Spain and Portugal.
It's all down to labours last act in power, under the deal agreed by then chancellor alistar darling during the five day hung parliament In may.. Britain must fork an eighth of total eu rescue packages..
Britain cannot opt out if this deal until 2013..
This could raise britains contribution to irelands rescue package up to £10 billion, originally thought to be around £7.5 billion..
Shares in London fell because of fears the debt ridden Iberian nations will be next..
Meanwhile Ireland descended into chaos with riots and protests in Dublin. A general election has been forced for febuary or march after dublins coalition government began to fall apart.
It is said that britains bail out cash will prop up the euro, which we are not actually part of..

Our Government are buffoons and i hate the EU.

reply to post by Misterlondon


The £7bn bail out for Ireland is simply another bailout for RBS in disguise.

The money will go no where near the Irish economy but is simply a stop to prevent RBS (who owns Ulster Bank) from going under.

Another bank bailout by stealth IMO, we're all paying for the greed of a few and an insane property price bubble in Eire.

MR

Yeah it's bulls@&t.. At a time when our government is making massive cuts that will affect all the normal people like ourselves in a big way..
Next year tax goes up, high st prices are rising dramatically and wages are dropping! We the people are the ones who will suffer to bail out these failing economies which are part of the euro, and what makes me angry is that we are not part of this currency!! Our money will go to saving the euro but where will that leave the pound..
Oh and while we the common folk gave to tighten our purse strings and work 60 hour weeks, just to survive.. These mp's will be sitting back sipping champagne in there huge houses, looking down on us laughing!!

reply to post by Marlborough Red


Your right half the 80 billion bailout will be going to banks.. I'm sure our 10 billion will be a huge part of that..

reply to post by Misterlondon


Most of the EU money will go to support the French and German banks that are heavily tied up in Irish property.

Our £10bn or whatever is to support RBS.

Ireland should just default, make the banks, property 'investors' and financial spivs take a haircut or go under. Then rebuild from sq1, start again with a new system because the current one clearly doesn't work.

Portugal, Spain, Italy and (heaven forbid) us are all next trying to solve the debt problem with more debt.....

Sooner or later the piper must be paid.....

I wonder how long it will take the UK populace to realise that all this 'wealth' in this country was just an illusion. Our government really has no money, neither do we, we can't keep borrowing from the future.....

MR

something is happening money is being taken out funneled somewhere else or all banks are becoming stupid all at once which i doubt. The war on terror in the USA and the housing market crash then the EU combines its money and the irish have the same thing happen that happened in the USA with their housing really? No one seeing a trend here? everywhere is going bankrupt except some of the commie countries something is wrong with the market its software might have a virus which effects the market and funnels money to some other country. look at the world trade center for answers maybe there was something in its market which didn't allow the virus so it was taken out or maybe it was hit right after it was introduced into the market leaving no trail back to the people who planned this. I not sure how the market works but if it uses computers it can be infected and manipulated

reply to post by pcrobotwolf


Um, a computer virus caused all this.....

If you do a little research you might find that (put very simply):
Financial regulation was all but forgotten => expansion of credit (debt) => speculation on an asset class => increase in percieved value of asset class (property) => desire for more credit + asset class => espansion of credit (debt) => increase in percieved value of asset class (property).... rinse and repeat several times over and you have yourself a massive speculative asset bubble that we have now.

A bubble that is only starting to unwind and we seem to think we can solve it with the same thing that got us there in the first place DEBT.....

Almost everyone was complicit in the ponzi pyramid scheme they just never realised till too late that they have been milked for everything they have.....


MR

Well, it seems we are on the last throws of the die, and if the elite/establishment can't get us into an External war then it's their necks on the line.

Reminds me of the build up to the Swing riots of the 1830s where Kent, Sussex, Hampshire etc went into open rebellion due to the high costs, and spiralling levels of under employment..

I can not help but think one way or another we are in for a nasty ride.

These bail outs are becoming bottomless pits with no end in sight.The debt needs liquidating like should have happened in the first place.It would have been bad but would have it been worse than this slow agonising death where our children's future is pumped into failed institutions many of whom seem to have hidden their real debts.

reply to post by Marlborough Red


Although what you say is true as to how it happened in part,the fact remains this was caused by greed but there just may be a little conspiracy involved here also.

None of this would have been possible if The Glass-Stegall Act had not been repealed. en.wikipedia.org...

This worldwide crisis appears to have started in America,how Ireland and other countries got so intangled in the same type of problems is troubleing. It smells of economic warfare to me?

It will not just be the EU bailing out Ireland though it will also be the IMF which after a little study appears to be a means for banking and financing control of the nation once they are involved. I dont like their background much.

en.wikipedia.org...

The IMF appears to be just a hyper extension of the federal reserve as nothing can be done without Americas vote. If America choses not to support a bailout of any nation then it cant happen.

Major decisions require an 85% supermajority.[24] The United States has always been the only country able to block a supermajority on its own. The following table shows the top 20 member countries in terms of voting power (2,220,817 votes in total). The 27 member states of the European Union have a combined vote of 710,786 (32.07%).[25]

It appears the nwo is already here and has been since 1945,its just sprung its biggest trap,greed, and the world has fallen for it. Sadly it will be the common man who pays the piper.