Skip to content

Cost of Living

Viewing 18 posts - 1,101 through 1,118 (of 1,118 total)
  
  • Author
    Posts
  • #19362
    Topdriller
        • Topics: 76
        • Replies: 1435
        • Total: 1511
        • Practcally Cretan
        • ★★★★★★
        Member since: 3rd March 2007

        I’m not sure what that has to do with a possible run on banks in southern European countries thanks to the idiots (Finance Ministers) who supposedly run the EU?

        Nor am I’m sure I’d want to be a citizen of an EU country who had just taken 60% of all my savings above €100,000.

        Then again, I’m not Russian…!  :-)

        Jon

        ps did you read that a significant number of "investors" and Cypriot MPs mysteriously removed their funds from the banks before the doors were closed?

        Compare hotel prices and find the best deal - HotelsCombined.com
        BullionVault

        #19363
        Topdriller
            • Topics: 76
            • Replies: 1435
            • Total: 1511
            • Practcally Cretan
            • ★★★★★★
            Member since: 3rd March 2007

            Remind me again, it was us who won the war…?!

            "Senior advisers to Chancellor Angela Merkel are pushing for better-off households to pay towards the cost of any future bail-outs for the weaker members of the single currency.

            The proposals, from members of Germany’s council of economic experts, raise the prospect of taxes being imposed on property in a country like Spain if its government was forced to seek a bail-out.

            The council, known as the “Five Wise Men”, is often used to test new policies that are later adopted officially.

            The German suggestion is the latest sign that Berlin is intent on imposing even tougher rules on weaker southern euro members in exchange for using its economic might to support their finances.

            As well as inflaming tensions between Germany and its smaller southern partners, the suggestion could also mean that Britons with holiday homes are dragged deeper into the eurozone crisis."

            http://www.telegraph.co.uk/finance/financialcrisis/9993790/Wealth-tax-to-pay-for-EU-bail-outs.html

            Jon

            #19364
            Gem
                • Topics: 27
                • Replies: 289
                • Total: 316
                • Practcally Cretan
                • ★★★★★★
                Member since: 28th December 2010

                There is a fundamental error with this theory! The size of your house is related to the size of your income or bank account – WRONG!

                #19365
                stavros
                    • Topics: 4
                    • Replies: 25
                    • Total: 29
                    • BIC Junior Member
                    • ★★★
                    Member since: 14th October 2011

                    I have read these articles Don’t the 5 wise men know that Spain and other countries already have a wealth tax. Sounds like another ‘sticking plaster’ solution. The euro should be put into ‘trash’. The whole project has been an unmitigated disaster. You cannot have monetary union without political union. However, the whole of Europe is being held to ransom by a small number of EU fanatics, who constantly deny the citizens of Europe a fair vote on their proposals: you’ve voted NO, well you’ll just have to vote again. The situation in Cyprus is pure robbery. The ‘big’ money left before the ‘corralito’, which means that local business people, retirees etc are left to pick up the bill: outrageous. Merkel’s razed earth policy is devastating the countries of the Med. In my Spanish pueblo unemployment is 60%+. In a neighbouring pueblo it’s nearer 90%. Graduates are leaving Spain by the thousand. They won’t return apart for holidays. The effects of the financial crisis are going to be felt for years. How can any right thinking person still believe in the euro? With the Fed, the B of E, and the Japanese central bank producing money out of thin air, it seems like the madness will continue. But, who’s going to buy all the bonds and other crap the central banks hold on their balance sheets when the time comes to unwind their positions. All the simple budgetary rules I was brought up with have been trashed. Who’ll be the first country to default? Portugal, Greece…

                    #19366
                    latsida
                    Participant
                        • Topics: 165
                        • Replies: 2407
                        • Total: 2572
                        • Practcally Cretan
                        • ★★★★★★
                        Member since: 17th October 2006

                        Average wealth in Cyprus is €671,000, far higher than in the four AAA creditor states: Austria (€265,000), Germany (€195,000), Holland (€170,000), Finland (€161,000).

                        quote taken from Jon’s link.

                        Told you there seemed like "loads of Money " there :D :D

                        #19367
                        Topdriller
                            • Topics: 76
                            • Replies: 1435
                            • Total: 1511
                            • Practcally Cretan
                            • ★★★★★★
                            Member since: 3rd March 2007

                            Today, according to the Troika, Greece’s will return to growth in 2014.  Yeah right, 27.4% unemployment, the banks bust, Greek debt standing at 160% of GDP and they try to peddle this bull to the EU citizens that their medicine is working.

                            You’d laugh out loud if it wasn’t so serious.

                            http://www.bbc.co.uk/news/business-22151472

                            Jon

                            PS and by the way Christine, asset rich (land that might have been worth something in the boom years) does not mean Greeks, with over 27% unemployed, are cash rich.  Just more accountancy spin to show the rest of Europe that the lowly paid Germans are supporting their wealthy Southern European neighbours!!!  It’s deplorable.

                            #19368
                            latsida
                            Participant
                                • Topics: 165
                                • Replies: 2407
                                • Total: 2572
                                • Practcally Cretan
                                • ★★★★★★
                                Member since: 17th October 2006

                                the figures I quoted were from your article and concern Cyprus not Greece , Jon  ;)

                                #19369
                                Topdriller
                                    • Topics: 76
                                    • Replies: 1435
                                    • Total: 1511
                                    • Practcally Cretan
                                    • ★★★★★★
                                    Member since: 3rd March 2007

                                    The Telegraph’s article, Christine, the Telegraph!

                                    It said and I quote:

                                    "The median or midpoint level – which strips out the distorting effect of the super-rich – was €183,000 for Spain, €172,000 for Italy, and €102,000 for Greece, and even €75,000 for Portugal.

                                    Average wealth in Cyprus is €671,000, far higher than in the four AAA creditor states: Austria (€265,000), Germany (€195,000), Holland (€170,000), Finland (€161,000)
                                    .
                                    Prof Feld said the report showed that people in the crisis countries are richer than the Germans. “This shows that Germany has been right to take a tough line of euro rescue loans,” he said.

                                    In other words, it also concerns Greece.

                                    Jon

                                    #19370
                                    latsida
                                    Participant
                                        • Topics: 165
                                        • Replies: 2407
                                        • Total: 2572
                                        • Practcally Cretan
                                        • ★★★★★★
                                        Member since: 17th October 2006

                                        I wonder what the super rich median level is in the UK? 8-) 8-)

                                        #19371
                                        YoMo2
                                            • Topics: 37
                                            • Replies: 574
                                            • Total: 611
                                            • Practcally Cretan
                                            • ★★★★★★
                                            Member since: 24th March 2011

                                            The Telegraph article also says that a new German political party is pressing for Germany to pull out of the euro. We should be so lucky……….

                                            Andrew

                                            #19372
                                            Topdriller
                                                • Topics: 76
                                                • Replies: 1435
                                                • Total: 1511
                                                • Practcally Cretan
                                                • ★★★★★★
                                                Member since: 3rd March 2007

                                                Christine Lagarde – head of the IMF and also the ex French Finance Minister who has been summoned by a French court to answer questions over alleged abuse of power during her time in office – has expressed renewed concern over the health of the UK economy.

                                                "The UK’s growth numbers are "not particularly good", Ms Lagarde said.

                                                But speaking ahead of a high-level meeting of policymakers in Washington, she refused to be drawn on whether UK should reassess its austerity policy."

                                                Are these people living in the same world as we are?  Last year Lagarde trumpeted on about the need for austerity, a need to balance the books and has overseen a 25% plummet in Greece’s GDP due to the very austerity policies she, Merkel and the ECB have foisted on the Greek people.  She has seen Greece unemployment numbers rise to 27.4% and surely knows the implementation of stringent austerity measures means the shrinking of national economies.

                                                Yet here she is pontificating in Washington about the UK economy and it’s failure to grow whilst George Osborne is doing the very thing she advocated last year i.e. cut costs, balance the books, bring down the national debt.

                                                Again, are these people living in the same world as we are?

                                                "The next Bank of England Governor – Mark Carney – has hinted at his concerns over the UK.  In an interview ahead of the meeting between the IMF and the World Bank, he said the US recovery was leaving behind "crisis economies" that included the UK, the eurozone, and Japan."

                                                The US has the largest national debt of any country in the world and is continuing to borrow money to try and "buy" its way out of recession.

                                                Does no one else think this strange i.e. the IMF forces austerity on the southern European countries whilst the US continues to borrow to fund it’s growth?

                                                Lagarde has consistently proclaimed the need for austerity, initially refused to give Greece any leeway vis a vis repaying loans – Samaras wanted a little leeway so they try could try and jump start some kind of growth – and yet Mark Carney points to the US and how their growth figures look better than anyone elses!!

                                                I’m reminded of the madhouse being run by the inmates!!

                                                http://www.bbc.co.uk/news/business-22209770   

                                                Jon

                                                #19373
                                                stavros
                                                    • Topics: 4
                                                    • Replies: 25
                                                    • Total: 29
                                                    • BIC Junior Member
                                                    • ★★★
                                                    Member since: 14th October 2011

                                                    You can only ‘pass the parcel’ for so long. When the dollar loses its reserve currency status – which it will – all hell will be let loose. Barroso, Rehn, Lagarde et al haven’t got a bloody clue. One plus one equals two: always has and always will.

                                                    #19374
                                                    Topdriller
                                                        • Topics: 76
                                                        • Replies: 1435
                                                        • Total: 1511
                                                        • Practcally Cretan
                                                        • ★★★★★★
                                                        Member since: 3rd March 2007

                                                        French unemployment at new high


                                                        “>http://www.bbc.co.uk/news/business-22301063

                                                        Spain unemployment hits record high

                                                        http://www.bbc.co.uk/news/business-22290422

                                                        Ah yes, our European masters seem to be on top of the situation!

                                                        Jon

                                                        #19375
                                                        YoMo2
                                                            • Topics: 37
                                                            • Replies: 574
                                                            • Total: 611
                                                            • Practcally Cretan
                                                            • ★★★★★★
                                                            Member since: 24th March 2011

                                                            Yes, but everything is OK because the UK has avoided a triple-dip recession!!!

                                                            This from BBC News:

                                                            "The UK economy has avoided falling back into a recession after recording faster-than-expected growth in the first three months of the year.

                                                            The Office for National Statistics said its first estimate for gross domestic product (GDP) showed the economy grew 0.3% during the first quarter of 2013.

                                                            Chancellor George Osborne said it was an "encouraging sign".

                                                            But the shadow chancellor, Ed Balls, said that the economy was "just back to where it was six months ago"."

                                                            #19376
                                                            Topdriller
                                                                • Topics: 76
                                                                • Replies: 1435
                                                                • Total: 1511
                                                                • Practcally Cretan
                                                                • ★★★★★★
                                                                Member since: 3rd March 2007

                                                                Back in 2001 the then Greek Government fudged the figures so the country could join the Eurozone. The ECB reported at the time that the figures were "suspect" but the politicians on all sides ignored the warnings. Today’s Greek Government says the economy will grow by 0.6% next year. This is yet another lie. The OECD says the exact opposite and that not only will the Greek economy contract by a further 0.4% in 2014 but they will probably need further bailout loans. The EU, the politicians, the ECB and the IMF should hang their collective heads in shame.

                                                                http://www.bbc.co.uk/news/business-25118477

                                                                Jon

                                                                #19377
                                                                YoMo2
                                                                    • Topics: 37
                                                                    • Replies: 574
                                                                    • Total: 611
                                                                    • Practcally Cretan
                                                                    • ★★★★★★
                                                                    Member since: 24th March 2011

                                                                    Well, at least the politicians are all right Jack in their safe, well-paid jobs.

                                                                    Sometimes, I feel as though I want things to get worse so that the voters finally snap, and the politicians get what they deserve – on the end of a rope.

                                                                    The debt is still as bad as it ever was I think, so how will anything ever change? Seems to me the only long-term solution is to default.

                                                                    Andrew :(

                                                                    #19378
                                                                    brian c
                                                                    Participant
                                                                        • Topics: 46
                                                                        • Replies: 240
                                                                        • Total: 286
                                                                        • Practcally Cretan
                                                                        • ★★★★★★
                                                                        Member since: 23rd March 2006

                                                                        quote Yomo2 ….Sometimes, I feel as though I want things to get worse so that the voters finally snap, and the politicians get what they deserve – on the end of a rope.
                                                                        couldn’t agree more Yomo …. there is hardly a politician in the world that can be trusted to be honest in any way …the world needs a huge change away from career politicians with their own personal agendas.

                                                                        #19379
                                                                        garrigue
                                                                        Participant
                                                                            • Topics: 16
                                                                            • Replies: 94
                                                                            • Total: 110
                                                                            • BIC Full Member
                                                                            • ★★★★★
                                                                            Member since: 26th September 2009

                                                                            Don’t they say that people get the politicians they deserve?

                                                                          Viewing 18 posts - 1,101 through 1,118 (of 1,118 total)
                                                                          • You must be logged in to reply to this topic.
                                                                          Scroll To Top