EU ready to help Greece over debts

meghatronic

meghatronic

meghatronic

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"EU leaders say they are ready to act to shore up Greece's finances and ensure stability in the eurozone - but they have made no specific promise of aid."
http://news.bbc.co.uk/1/hi/world/europe/8508688.stm

"Gordon Brown is under mounting pressure from MPs on all sides to ensure that only eurozone countries contribute to a bail-out of Greece, whose economy is teetering on the brink of collapse.
The Prime Minister will this morning arrive in Brussels for a crucial European leaders’ summit amid fears that the UK could get dragged into a full European Union bail out plan."
http://www.telegraph.co.uk/finance/...Britain-may-be-forced-to-bail-out-Greece.html

Excuse me, but why is this our concern? We're not in the Eurozone (the pros of which have been well proved recently) and opt-out of the Maastricht Treaty, so why should we care?
 
aparently it was all discussed before he even arrived at the meeting acording to a report on skynews i saw this dinner time.

but anyway i dont see why we should help greece its not our problem and it doesnt effect us if the euro decreases in value atleast not in a negative way, im all for a better exchange rate
 
arknor said:
aparently it was all discussed before he even arrived at the meeting acording to a report on skynews i saw this dinner time.

but anyway i dont see why we should help greece its not our problem and it doesnt effect us if the euro decreases in value atleast not in a negative way, im all for a better exchange rate
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Ah you appear to be right:

"The Chancellor Alistair Darling has said Britain has "no proposal" to help provide such a cash injection and added that it was a eurozone problem."
Sky News.

I'll be horrified if we help. Counter-intuitive.
 
To be honest if we dont help (being one of the major economies in the EU) it'll suck France and Germany (who are MASSIVE trading partners to the UK) down the pan and we'll be further back in recession.

We have to help to ensure our own economic stability across wider Europe (and Europe being one of the biggist trading blocks in the world with the USA and China as the other 2) we can not hope to stay out of recession (in the UK) without realising our dependancy on the EU.
 
pingwing said:
To be honest if we dont help (being one of the major economies in the EU) it'll suck France and Germany (who are MASSIVE trading partners to the UK) down the pan and we'll be further back in recession.

We have to help to ensure our own economic stability across wider Europe (and Europe being one of the biggist trading blocks in the world with the USA and China as the other 2) we can not hope to stay out of recession (in the UK) without realising our dependancy on the EU.
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Because we are in a better position than the rest of europe yeah?

And we need to help?

Is this your stance?
 
Ricochet J said:
My girlfriend's dad's brother's wife's son's friend's girlfriend's brother told me Italy and Ireland are in a similar situation.

How true is this?
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I’ve been reading that Spain and Portugal aren’t too far behind with a debt problem. Ireland are there or thereabouts closely followed by Italy. Watch this space!
 
It's inevitable that we'll join the euro one day, therefore it's important that the Eurozone countries sort this one out amongst themselves. If there's economic turmoil in the Eurozone then this is bound to have a negative effect on the UK economy, we simply can't afford for the Euro to collapse now. Greece now has a swingeing austerity plan, if they stick to it they will be all right though it will hurt massively in the short term.

There's a lot of drama about this in the press (largely driven by currency speculators), but the reality is that this is no different to a similar situation that happened last year. Substitute Greece for California, substitute the Eurozone for the USA. No drama there and Greece is a lot less important to the euro than California is to the dollar.
 
pingwing said:
To be honest if we dont help (being one of the major economies in the EU) it'll suck France and Germany (who are MASSIVE trading partners to the UK) down the pan and we'll be further back in recession.

We have to help to ensure our own economic stability across wider Europe (and Europe being one of the biggist trading blocks in the world with the USA and China as the other 2) we can not hope to stay out of recession (in the UK) without realising our dependancy on the EU.
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But it would effectively devalue the pound against the Euro. It's daft. And what's more, isn't our responsibility. It would be better if the Euro didn't exist, then the IMF/G20 would help Greece out (as UK are stressing at present).


scorza said:
It's inevitable that we'll join the euro one day, therefore it's important that the Eurozone countries sort this one out amongst themselves. If there's economic turmoil in the Eurozone then this is bound to have a negative effect on the UK economy, we simply can't afford for the Euro to collapse now. Greece now has a swingeing austerity plan, if they stick to it they will be all right though it will hurt massively in the short term.
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I'd say the likelihood has decreased in the last year.
 
Given how screwed our own economy is with massive debt levels and out of control spending not much different to many of the PIIGS, it is a massive irony that anyone is even considering whether the UK should help out.

http://news.bbc.co.uk/1/hi/business/8510603.stm

Contains the breakdowns of the various countries and their debt levels.
 
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