that's happening now - what looked like junk is actually maturing and providing revenue for the country.
Fair enough but the question I asked was what would happen to your £10 million if you lent it to me and then considered it an asset.
Actually Cornwall and the City of London have vastly different economies, N Ireland and Berkshire have vastly different economies - yet they all use a 'one size fits all' currency. Mississippi and New York have vastly different economies too, yet they all have to use the 'one size fits all' dollar. Every currency struggles to find an acceptable compromise when setting policies, just as they always have done. You seem to be keen to attribute uniquely to the Euro a characteristic which is reality applies to every major currency, namely great variability across geographical regions. Is this sheer prejudice, or is there any rational basis for your attitude? I thought we had come out of the recession extraordinarily slowly actually, much more slowly than from any previous recession (even 1931). Not sure what you mean by 'so quickly'.
I thought we were discussing government debt. If you want to insist on relating the issue to your own personal financial position, I have to say your hypothesis becomes so very far-fetched that it is beyond reasonable analysis. At least by me.
A difference between personal and government debt is that governments can create new money, a similarity is that both can default, something that you are reluctant to accept.
Ok, comparatively quickly. Compared to the rest of Europe. I think we've covered the Pound and it's use across the UK before, but we have an understanding within this country that one part of the country can subsidise another. There is no popular will in Europe, well, Germany for the same in the Eurozone. They see the rest of Europe as lazy, whether this is true or not, they don't want to subsidise Southern Europe. This is a great example of where the political class (which really does exist in some European countries) are out of touch with the populous. Interestingly, this may help our efforts to renegotiate our membership:Germany want our money to help the poorer countries. Without us, they will have to pay even more than they do. I don't believe that Europe really want us, just our money.
Do we indeed? I rather think the wealthier parts of the UK are not at all keen on subsidising the poorer parts, and complain bitterly. The poorer parts are notoriously ungrateful for the help. And the UK remains together because most people think we are better off together than fragmenting.
Isn't there indeed? I rather think the wealthier parts of the EU are not at all keen on subsidising the poorer parts, and complain bitterly. The poorer parts are notoriously ungrateful for the help. And the EU remains together because most people think we are better off together than fragmenting.
He's the Cyrano de Bergerac of the Ducati forums. Lulls you with his rhythmic verses and then - surprise! - breaks the spell and calls you a c%$t. * * not in so many words, of course.
