15-04-2020, 01:40 PM
131
Re: Italy
Originally Posted by Bread
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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 surprising I 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
15-04-2020, 01:54 PM
132
Re: Italy
Originally Posted by Solasch
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You know the risk of the financing by national banks, hyperinflation. Especially germany is loath of this method, they had their experience in 1923, and since then are dead against it. And as they are the leader of europe nowadays.......
What's going to be another threat to the Euro is the defaults on debt in the Eurozone. The EU need to prevent this somehow or you will be back in the financial crisis of 2008 for the second time. I don't think the Eurozone would survive this.
The Eurozone need an urgent agreement on how to fund the COVID-19 crisis or it's going to be carnage.
15-04-2020, 02:48 PM
137
Re: Italy
Originally Posted by Bread
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The ECB is a central bank for 19 countries.
15-04-2020, 02:58 PM
138
Re: Italy
Originally Posted by Solasch
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So by issueing eurobonds it would put the ecb on a similar level as the bank of UK. Sorry england. The UK doesn't have its own central bank, only a central currency. Or whatever.
You don't get any of this do you ?
EDIT
Scrap that (long explanation I just rubbed out), I'm just not going to explain this to you for an 8th or 9th time. It doesn't matter what I do, I cannot make you understand this.
15-04-2020, 03:04 PM
139
Re: Italy
Originally Posted by Bread
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No it wouldn'tYou don't get any of this do you ?
We have a common currency - the pound sterling, which is used throughout the UNION OF THE UNITED KINGDOM.
We have a centralised bank - the Bank of England which is a central bank for England, Wales, Scotland and Northern Ireland
BUT.... we have a centralised treasury and taxation system
Do you get it yet ?
Getting there.
So you are not against institutions like centralised banks, as the ECB.
The EU wanted a common currency, the euro, but the UK didn't see any advantage that, they wanted national currencies.
To get the british system the EU needs a centralised treasury and a common taxation.
Guess who was against that when still a member?
15-04-2020, 03:11 PM
140
Re: Italy
Originally Posted by Solasch
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Getting there.So you are not against institutions like centralised banks, as the ECB.
The EU wanted a common currency, the euro, but the UK didn't see any advantage that, they wanted national currencies.
To get the british system the EU needs a centralised treasury and a common taxation.
Guess who was against that when still a member?
We rejected the Euro because we were given a good idea of what it would be like in 1996 when everything crashed and took the UK down with it.
The UK has a centralised taxation system and a centralised treasury, get your facts right.
The Eurozone does not have a centralised treasury or taxation system - how many times do I have to repeat myself ?
Do you still not get it ????
Really ???
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