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21-07-2020, 02:23 PM
1

The Frugal 4 Get Shafted

Great summary here from Capx regarding the "hugely ambitious deal for Europe" that the EU leaders have been celebrating last night (well, all but the Netherlands, Denmark, Austria, Finland and Sweden )

In essence, the frugal 4 (or 5 if you include Finland) achieved very little other than reducing the total amount of debt mutualisation by 110 Billion Euros.

The real win here is delivering debt collectivisation (as the author correctly calls it - brilliant !) in the EU ... a flash back to communist Russia. Or, to put another way Eurobonds and debt mutualisation ... delivered !

So far, the ECB has been bailing out the Eurozone constantly since 2010 due to the financial crisis. The measures put in place by the ECB and Draghi ("to do whatever it takes") were designed to rescue the Eurozone. For 10 years, the crippling debt amounting every day by ECB quantitive easing has been going up and up and should to ask them the big question .... "has it worked" ... ?

and now this ....

https://capx.co/a-historic-eu-agreem...5616-241835697

well, fancy that ...
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21-07-2020, 03:25 PM
2

Re: The Frugal 4 Get Shafted

Originally Posted by Bread ->
Great summary here from Capx regarding the "hugely ambitious deal for Europe" that the EU leaders have been celebrating last night (well, all but the Netherlands, Denmark, Austria, Finland and Sweden )

In essence, the frugal 4 (or 5 if you include Finland) achieved very little other than reducing the total amount of debt mutualisation by 110 Billion Euros.

The real win here is delivering debt collectivisation (as the author correctly calls it - brilliant !) in the EU ... a flash back to communist Russia. Or, to put another way Eurobonds and debt mutualisation ... delivered !

So far, the ECB has been bailing out the Eurozone constantly since 2010 due to the financial crisis. The measures put in place by the ECB and Draghi ("to do whatever it takes") were designed to rescue the Eurozone. For 10 years, the crippling debt amounting every day by ECB quantitive easing has been going up and up and should to ask them the big question .... "has it worked" ... ?

and now this ....

https://capx.co/a-historic-eu-agreem...5616-241835697

well, fancy that ...
My wife's relations over in Stockholm are well pissed off and I do not blame them.
I wonder what Solly thinks about this great EU deal
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21-07-2020, 03:37 PM
3

Re: The Frugal 4 Get Shafted

Originally Posted by LongDriver ->
My wife's relations over in Stockholm are well pissed off and I do not blame them.
I wonder what Solly thinks about this great EU deal
There are calls for a referendum in the Netherlands over this because their PM folded. What a shame they can't hold one.
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21-07-2020, 03:46 PM
4

Re: The Frugal 4 Get Shafted

If you ensure that members are heavily in debt, surely that means that they cannot leave without paying off the debt?

Surely a fencing policy?

Still, their Voters cannot vote on membership of the EU anyway!

They've been stuffed with the "Thick End Of The Rag Man's Trumpet". - from both ends!

Glad we're out (nearly!)

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21-07-2020, 03:58 PM
5

Re: The Frugal 4 Get Shafted

Originally Posted by Bread ->
Great summary here from Capx regarding the "hugely ambitious deal for Europe" that the EU leaders have been celebrating last night (well, all but the Netherlands, Denmark, Austria, Finland and Sweden )

In essence, the frugal 4 (or 5 if you include Finland) achieved very little other than reducing the total amount of debt mutualisation by 110 Billion Euros.

The real win here is delivering debt collectivisation (as the author correctly calls it - brilliant !) in the EU ... a flash back to communist Russia. Or, to put another way Eurobonds and debt mutualisation ... delivered !

So far, the ECB has been bailing out the Eurozone constantly since 2010 due to the financial crisis. The measures put in place by the ECB and Draghi ("to do whatever it takes") were designed to rescue the Eurozone. For 10 years, the crippling debt amounting every day by ECB quantitive easing has been going up and up and should to ask them the big question .... "has it worked" ... ?

and now this ....

https://capx.co/a-historic-eu-agreem...5616-241835697

well, fancy that ...
And now 27 parliaments will have to ratify the mff. Wanna bet 4 or 5 of those will veto it?
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21-07-2020, 04:16 PM
6

Re: The Frugal 4 Get Shafted

Originally Posted by Solasch ->
And now 27 parliaments will have to ratify the mff. Wanna bet 4 or 5 of those will veto it?
Why would they veto something they already agreed to ?

That would be a matter for the Commission to intervene and punish them for lying to the other members. Don't worry, you won't have the problem when it comes to who pays for it all, that's being done by QMV. You need another 50 million people to get some more seats so you don't get trampled over by Poland and Romania (and Spain, Italy, France, Germany, Portugal, Greece etc etc) like you usually do.

The Netherlands are hated more than the UK now.

How did you manage that ?
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21-07-2020, 04:17 PM
7

Re: The Frugal 4 Get Shafted

Originally Posted by Tedc ->
If you ensure that members are heavily in debt, surely that means that they cannot leave without paying off the debt?

Surely a fencing policy?

Still, their Voters cannot vote on membership of the EU anyway!

They've been stuffed with the "Thick End Of The Rag Man's Trumpet". - from both ends!

Glad we're out (nearly!)

Exactly Ted !

The funds are dished out depending on the member states unemployment figures between 2015 and 2019. That should make sure that free money will stop migrant workers going to the wealthier nations for work (that doesn't exist).

Typical EU nastiness.
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21-07-2020, 04:19 PM
8

Re: The Frugal 4 Get Shafted

Originally Posted by Bread ->

The Netherlands are hated more than the UK now.

How did you manage that ?
If the average Dutchman/woman is like Solly, I think we have found the answer
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21-07-2020, 04:21 PM
9

Re: The Frugal 4 Get Shafted

Originally Posted by LongDriver ->
If the average Dutchman/woman is like Solly, I think we have found the answer
Yeah but all the Dutch I know are really nice people and I get on really well with them.

I think its because Solasch isn't Dutch or even European.
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21-07-2020, 04:27 PM
10

Re: The Frugal 4 Get Shafted

The shortfall of €110 billion will be distributed in phase 2 in the next few months, that's what I think...

Rutte only has a few months after Christmas to get over before the March election anyway.
 
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