As we know it today.
My bet is no longer than 5 years. Simply because the countries making a real profit from the EU can't afford to pay for it. This is assuming the voters will vote to keep paying for the bankrupt nations.
Spain has now asked for a loan. No surprise there, everyone knew they would and the only question was when they would ask. It's not a bailout as Spain which has a lame economy, debts already it can't pay is insisting this loan, which is going to keep their bankrupt banks afloat is being used to repay the loans they already had.
There is no austerity package, no plan to generate growth in Spain or any sort of plan to get Spain able to survive in the Euro.
Similar situation to Greece. Yes they have the plans which won't work, so they will need more money soon.
Eire is struggling hard to get it's economy back on a level keel. After a false boom fed by borrowed money. Portugal is next to go down or will it be Italy? No problem the politicians who dumped us in this shit hole are flying around Europe on full expenses talking to each other and promising to meet again. Can't figure out why, because nothing solid ever emerges from these meetings. Except to have more meetings in a different place. And spend more money.
With hindsight the reasons for this fuck up are clear. The original idea of a trading zone was good. Once the EU started to expand to small less profitable countries, went to a single Parliament and currency it started to go wrong. The boom Germany and others had was based on trade within the EU supported by borrowed money. The money that was being borrowed was being spent on German, French, British, etc goods. Eire, Spain, Italy, Greece, etc were producing what? Besides debts.
The large expansion into Eastern Europe was good for the countries where production was cheaper the Britain, Germany, France, etc. The jobs created here were not new jobs in the EU. Simply jobs moved. Jobs here in construction were to build new office blocks, to house jobs that were in more expensive places. Plus funded by huge EU grants, which aren't coming like they used to.
So when anyone says the EU brought a lot of wealth, ask them how. Because it was built on debt and selling to each other. And now the debt mountain is as big as the wheat mountain or deep as the milk or wine lake.
It won't effect me too much, Eva and especially our daughter it will effect.
My bet is no longer than 5 years. Simply because the countries making a real profit from the EU can't afford to pay for it. This is assuming the voters will vote to keep paying for the bankrupt nations.
Spain has now asked for a loan. No surprise there, everyone knew they would and the only question was when they would ask. It's not a bailout as Spain which has a lame economy, debts already it can't pay is insisting this loan, which is going to keep their bankrupt banks afloat is being used to repay the loans they already had.
There is no austerity package, no plan to generate growth in Spain or any sort of plan to get Spain able to survive in the Euro.
Similar situation to Greece. Yes they have the plans which won't work, so they will need more money soon.
Eire is struggling hard to get it's economy back on a level keel. After a false boom fed by borrowed money. Portugal is next to go down or will it be Italy? No problem the politicians who dumped us in this shit hole are flying around Europe on full expenses talking to each other and promising to meet again. Can't figure out why, because nothing solid ever emerges from these meetings. Except to have more meetings in a different place. And spend more money.
With hindsight the reasons for this fuck up are clear. The original idea of a trading zone was good. Once the EU started to expand to small less profitable countries, went to a single Parliament and currency it started to go wrong. The boom Germany and others had was based on trade within the EU supported by borrowed money. The money that was being borrowed was being spent on German, French, British, etc goods. Eire, Spain, Italy, Greece, etc were producing what? Besides debts.
The large expansion into Eastern Europe was good for the countries where production was cheaper the Britain, Germany, France, etc. The jobs created here were not new jobs in the EU. Simply jobs moved. Jobs here in construction were to build new office blocks, to house jobs that were in more expensive places. Plus funded by huge EU grants, which aren't coming like they used to.
So when anyone says the EU brought a lot of wealth, ask them how. Because it was built on debt and selling to each other. And now the debt mountain is as big as the wheat mountain or deep as the milk or wine lake.
It won't effect me too much, Eva and especially our daughter it will effect.
Report a suspicious cracker: 
Comment