reply to post by expatwhite
All Greece, Italy and Spain crashed because of mishandling their money, not because EU.
1) Greece paid too much to its public sector and the pensions.
2) Italy is not growing enough
3) Spain´s house bubble crashed and they did not have money to bailout the bankers.
All these were problems before, but the US crash in 2008, was the trigger there too. Whether we want it or not, Europe and US are too connected and
affect each other a lot. The recession was everywhere across Europe because of the banking crisis in 2008.
I am living in a small country in North-East, government with nearly non-existent debt. After 2008, the housing market nearly crashed. Too many
people, especially blue-collar, lost their jobs, because :
1) Investors were afraid to invest here because of fear of future.
2) People were afraid to buy things (like houses, renovation etc) because of fear for future.
3) Banks made it harder for everybody to get loans, even when needed.
For Spain, Italy and Greece it was all about mishandling their money well. When the recession began, they could not afford paying back the loans,
which triggered the crash. Greece mishandled/wasted their money, Spanish banks gave out loans too easily and Italy is not growing enough to pay back
the loans. All this triggered the three points I mentioned. Fear and already existing problems because of decisions by government created the crisis
Spain, Italy and Greece are not the only countries in Europe, so basing your assumptions on these countries is very ignorant. Many countries have
quite strong economy and are only affected because of some others who mishandled their money, not because of their policies.
In my opinion this would be extremely stupid decision by UK.
1) They will be affected by it badly
2) Other countries in EU will be affected badly.
Nobody wins from it. It would be very stupid decision.
edit on 24-5-2013 by Cabin because: (no reason given)