13-04-2020, 01:54 PM
121
Re: Italy
Originally Posted by Solasch
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Comrades bread and moscow, try to think. Contrary to bread's opinion that the UK's package of £37 bn isn't enough, I think it is. But let's assume it will take €50 bn for the UK to overcome the negative economic effects of corona.In all likelihood 3 countries (italy, spain, portugal) need help from ESM to overcome corona's detrimental economic effects. Like the UK each needs an equally big package to restore their economy to pre corona levels. That would take 3 times 50, or 150 bn of the available 500 bn €.
So where did you get the stupid idea that the ESM will be overcharged?
Well done
13-04-2020, 02:45 PM
123
Re: Italy
Originally Posted by Solasch
->
Comrades bread and moscow, try to think. Contrary to bread's opinion that the UK's package of £37 bn isn't enough, I think it is. But let's assume it will take €50 bn for the UK to overcome the negative economic effects of corona.In all likelihood 3 countries (italy, spain, portugal) need help from ESM to overcome corona's detrimental economic effects. Like the UK each needs an equally big package to restore their economy to pre corona levels. That would take 3 times 50, or 150 bn of the available 500 bn €.
So where did you get the stupid idea that the ESM will be overcharged?
13-04-2020, 03:12 PM
124
Re: Italy
Originally Posted by Percy Vere
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Just like many in the northern-most EU countries, you're forgetting the eternal basket case that is Greece from your list , Solly.
Problem is that under QMV, Germany, Netherlands and Austria don't stand a chance of pushing back on anything. The other 16 want their money.
13-04-2020, 03:45 PM
125
Re: Italy
Originally Posted by Percy Vere
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Just like many in the northern-most EU countries, you're forgetting the eternal basket case that is Greece from your list , Solly.
13-04-2020, 03:47 PM
126
Re: Italy
Originally Posted by Bread
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and Ireland... Problem is that under QMV, Germany, Netherlands and Austria don't stand a chance of pushing back on anything. The other 16 want their money.
13-04-2020, 04:23 PM
127
Re: Italy
Originally Posted by Solasch
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Any country taking out a loan of the esm has to underpin the utilisation of it against corona effects, and not being able to do so under their own steam.
13-04-2020, 05:03 PM
128
Re: Italy
Originally Posted by Bread
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Who get's what then out of this 500 billion ? What are the share allocations between the countries
Allocating is only needed if the total of applied for loans exceeds 500 bn. As shown before, that is not likely.
14-04-2020, 07:51 AM
130
Re: Italy
Italy and Spain etc reject the ESM bailout because it would mean they end up like Greece did in 2008. Nobody wants their countries finances controlled by a Troika arrangement, which is not surprisingI did say yesterday about how the loans would be divided up but I had my post removed by the mods for some reason. It was to outline this, but never mind.
Oh dear....
Here come coronabonds .... 30 years of mutualised debt
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