12-04-2020, 06:16 PM
112
Re: Italy
Originally Posted by Solasch
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Okay, and now compare it by number of inhabitants and monetary value to EU and usa. That was my simple question to you since your post #102.
You are !
We are not !
There is not a comparison to be made, because like I've said about 4 times now, the UK is not in the EU, the Eurozone and does not have the Euro.
Do you still not understand this
The example I gave by population was to compare the USA and the Eurozone in terms of the money so far used to bail out the economies. By your own calculation you agree with me by saying the UK has not provided enough funding as well. Your right, but the thing is, we did not use the ESM like you did and max out its lending capacity. You need more money so where is it coming from ??? The magic money tree or Eurobonds ?
Guess what - the UK and and the USA both have centralised treasuries and banks, unlike the EU and we do not share a common currency with other countries who do not have a central bank or a central treasury.
Do you understand yet ?
12-04-2020, 06:31 PM
113
Re: Italy
Originally Posted by Bread
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We aren't mutualising debt with other countries though are we.You are !
We are not !
There is not a comparison to be made, because like I've said about 4 times now, the UK is not in the EU, the Eurozone and does not have the Euro.
Do you still not understand this
The example I gave by population was to compare the USA and the Eurozone in terms of the money so far used to bail out the economies. By your own calculation you agree with me by saying the UK has not provided enough funding as well. Your right, but the thing is, we did not use the ESM like you did and max out its lending capacity. You need more money so where is it coming from ??? The magic money tree or Eurobonds ?
Guess what - the UK and and the USA both have centralised treasuries and banks, unlike the EU and we do not share a common currency with other countries who do not have a central bank or a central treasury.
Do you understand yet ?
12-04-2020, 11:23 PM
114
Re: Italy
Originally Posted by Bread
->
I've explained 5 times now
I'm still waiting for that comparison of yours that underpins your statement that the UK is doing not enough in crisis funding.
12-04-2020, 11:47 PM
115
Re: Italy
Originally Posted by Solasch
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Contrary to what you state, we are not mutualising debt with italy. That would be the case if eurobonds were issued. As you know, that is not happening. The ESM is utilized for loans, and the money should be used to restore the economic effects of the corona crisis. That is a stringent condition of the ESM loans. I'm still waiting for that comparison of yours that underpins your statement that the UK is doing not enough in crisis funding.
Read my posts again
13-04-2020, 01:14 AM
116
Re: Italy
Originally Posted by Bread
->
Read my posts again
13-04-2020, 07:35 AM
117
Re: Italy
Originally Posted by Solasch
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Comrade bread, assuming your unwilingness to compare the UK crisis funding with the EU and/or the usa stemmed from inferiority reasons, I did a little calculation myself. And guess what? You didn't let me down. The EU spends 500 bn € on 350 mln inhabitants, approx. 1.4 mln/inhabitant. The UK spends 41 bn € (37 bn£) on 69 mln inhabitants, ca. 0.6/inhabitant. What is your conclusion from those numbers?
You don't understand this at all.
If the UK want to provide more funding, we can because we have our own bank and treasury.
The Eurozone just maxed out its borrowing from the ESM so if it needs any more, it must borrow and mutualise it's debt between all nations that are part of the Eurozone.
There, see, that's 6 times now I've explained this.
13-04-2020, 09:20 AM
118
Re: Italy
The trouble with Solasch is that he doesn't enter into genuine debate he justs tries to play the Clever Sod all the time.Unfortunately, when he loses the debate ,as in this case, he just comes across as stupid and his chirpy little know it all persona works against him.
13-04-2020, 09:33 AM
119
Re: Italy
Originally Posted by Moscow
->
The trouble with Solasch is that he doesn't enter into genuine debate he justs tries to play the Clever Sod all the time.Unfortunately, when he loses the debate ,as in this case, he just comes across as stupid and his chirpy little know it all persona works against him.
13-04-2020, 01:39 PM
120
Re: Italy
Originally Posted by Bread
->
You don't understand this at all.If the UK want to provide more funding, we can because we have our own bank and treasury.
The Eurozone just maxed out its borrowing from the ESM so if it needs any more, it must borrow and mutualise it's debt between all nations that are part of the Eurozone.
There, see, that's 6 times now I've explained this.
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?
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