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Captain Risky

France: Austerity On Its Last Legs In Europe

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Captain Risky

France Shows Austerity Is On Its Last Legs In Europe

 

Paris is literally burning, with more antitax protests expected this weekend in the French capital. This should be the immediate takeaway for markets: Austerity is on its last legs in Europe.

https://www.forbes.com/sites/kenrapoza/2018/12/07/france-shows-austerity-is-on-its-last-legs-in-europe/#703ebaf92d0f

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Captain Risky

looking at this from what happened in Greece i can only say that the Greek people and state did a remarkable U urn from a state dependent on welfare to a state that's showing signs of being a viable and normal state. i have absolutely no respect for these French whingers. French economy needs reforms. Maybe Macron should stop taxing and start legislating business and welfare reforms. 

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stevewinn
10 minutes ago, Captain Risky said:

looking at this from what happened in Greece i can only say that the Greek people and state did a remarkable U urn from a state dependent on welfare to a state that's showing signs of being a viable and normal state. i have absolutely no respect for these French whingers. French economy needs reforms. Maybe Macron should stop taxing and start legislating business and welfare reforms. 

The Greek economy is destroyed, saddled with a debt they can never repay. 18% unemployment. 36%. 

On the French. 

 

 

 

 

 

 

 

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Captain Risky
3 minutes ago, stevewinn said:

The Greek economy is destroyed, saddled with a debt they can never repay. 18% unemployment. 36%. 

On the French. 

 

 

 

 

 

 

 

twitter lad... the Greek economy is on a viable path and the debt is manageable and if it stops being manageable the EU will step in again. explain to me how the British helped Greece?

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stevewinn
16 minutes ago, Captain Risky said:

twitter lad... the Greek economy is on a viable path and the debt is manageable and if it stops being manageable the EU will step in again. explain to me how the British helped Greece?

I've said this before, and I'll say it again. This Christmas ask santa Claus for the book "adults in the room" and then come back to me. 

adults-in-the-room.jpg

 

We've been over this before, but it never sinks in. As for Britain helping Greece, €500million. Via the EU budget. The UK's also contributed via its membership of IMF,  a share of 4.5% of the total. It amounts to around €4.5bn for all Greek bailouts. 

The UK also provided a total of €6.5bn (£5bn) via the EU for two bailouts: €3bn for Ireland in November 2010 and €3.5bn for Portugal in May 2011. The UK provided an additional €3.9bn in bilateral bailout loans to Ireland.

 

 

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Captain Risky
9 hours ago, stevewinn said:

I've said this before, and I'll say it again. This Christmas ask santa Claus for the book "adults in the room" and then come back to me. 

adults-in-the-room.jpg

 

We've been over this before, but it never sinks in. As for Britain helping Greece, €500million. Via the EU budget. The UK's also contributed via its membership of IMF,  a share of 4.5% of the total. It amounts to around €4.5bn for all Greek bailouts. 

The UK also provided a total of €6.5bn (£5bn) via the EU for two bailouts: €3bn for Ireland in November 2010 and €3.5bn for Portugal in May 2011. The UK provided an additional €3.9bn in bilateral bailout loans to Ireland.

 

 

Point is that the euro zone bailed itself out and any UK money was only through a United EU budget and IMF loans that the UK grudgingly agreed to. Anyway you’re correct!

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RabidMongoose

French revolution lol

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spartan max2

I probably agree with the political views of the protestors.

But I don't like how they go about it. Democracy is not rioting until you get your way.

A peaceful protest and voting is one thing.

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spartan max2
10 hours ago, stevewinn said:

I've said this before, and I'll say it again. This Christmas ask santa Claus for the book "adults in the room" and then come back to me. 

adults-in-the-room.jpg

 

We've been over this before, but it never sinks in. As for Britain helping Greece, €500million. Via the EU budget. The UK's also contributed via its membership of IMF,  a share of 4.5% of the total. It amounts to around €4.5bn for all Greek bailouts. 

The UK also provided a total of €6.5bn (£5bn) via the EU for two bailouts: €3bn for Ireland in November 2010 and €3.5bn for Portugal in May 2011. The UK provided an additional €3.9bn in bilateral bailout loans to Ireland.

 

 

Give me a quick run down of why I should buy this book?

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RabidMongoose
15 minutes ago, spartan max2 said:

I probably agree with the political views of the protestors.

But I don't like how they go about it. Democracy is not rioting until you get your way.

A peaceful protest and voting is one thing.

And what happens when Democracy isn't working?

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stevewinn
29 minutes ago, RabidMongoose said:

And what happens when Democracy isn't working?

The house of Lords backed by the courts. If all that fails violence will follow. 

34 minutes ago, spartan max2 said:

Give me a quick run down of why I should buy this book?

Review from waterstones. 

It shows us what professional politicians are really like, how much they want power, how they value their own jobs and status above everything else. Yaroufakis describes the major players in the European Union and how faceless unelected officials wield far too much power behind the scenes. He had a deep understanding of his country's problems and a clear vision for its future. He could see what was wrong and how to put it right, but was prevented from doing so at every turn. As a result there was devastating treatment of Greece's economy and its people. It reads like a Greek tragedy, betrayals, stabbings in the back, how are any of these politicians, still in power, to be trusted in negotiations? This book sheds a bright light on the workings of the EU and the Troika who control the purse strings, the dishonesty and the cover-up of their ineptitude is stunning. Rules broken and ignored. 

Review from waterstones

unsurpassed as an account of the world of politics and economics as they truly exist - entwined together in the real world, immersed in the futile pursuit of power at any cost by an isolated elite who have no concern for the impact of their actions on the lives of millions. Anyone interested in stepping beyond the tired dogma of academia and the infantile myths of the mainstream media should read this book. But beware; for those who believe they understand the world from reading The Guardian, CNN etc it contains evidence, facts and unavoidable conclusions told by a brilliantly lucid narrator that you might find contradicts the comfortable nonsense you're used to. As a post graduate in politics, I've never read a book like it. Varoufakis is one of the most important authors of our time. 

Media reviews. 

An important, terrifying must-read. In particular, it anatomises the way in which EU leaders operate with a brutal clarity ... shocking and ultimately tragic ... He gets to the heart of their failure more acutely than anyone ... Varoufakis has the greatest political virtues of all - courage and honesty' - The Times 

'A tremendously indiscreet account ... drawing upon his own audio recordings and diaries of top-level meetings. It is deeply personal and very well written' - The Financial Times 

'The most jaw-dropping segments are the accounts of phone calls and closed-door meetings - often verbatim, courtesy of his secret recordings - between ministers and technocrats ... We see duplicity and cynicism ruling supreme .. A convincing critique ... Our own government should take note' - The Daily Telegraph 

'Varoufakis has written one of the greatest political memoirs of all time [and] one of the most accurate and detailed descriptions of modern power ever written' - The Guardian

Edited by stevewinn
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spartan max2
34 minutes ago, RabidMongoose said:

And what happens when Democracy isn't working?

I don't know that many details about the situation so this is a legitment question,

Is this movement a clear majority or is it just a loud minority ?

If it's a majority why can they not vote in a different person next election without rioting?

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RabidMongoose
9 minutes ago, spartan max2 said:

I don't know that many details about the situation so this is a legitment question,

Is this movement a clear majority or is it just a loud minority ?

If it's a majority why can they not vote in a different person next election without rioting?

Well they have been rioting for a month and theres 89,000 police and soldiers on their streets trying to retain order. I`d say its half way to revolution not a minor riot lol.

This link says just about a quarter of a million rioters https://metro.co.uk/2018/11/17/one-killed-and-106-injured-in-violent-french-riots-over-fuel-taxes-8151285/ lol

Edited by RabidMongoose
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godnodog
14 minutes ago, spartan max2 said:

I don't know that many details about the situation so this is a legitment question,

Is this movement a clear majority or is it just a loud minority ?

If it's a majority why can they not vote in a different person next election without rioting?

its supported by the majority, buthe destruction though is done by anarchist leftist, right wing extremists and common criminals.

Because the next election is not soon but the new taxation was just days/weeks, and politicians constantly bet thwt things will cool off and be forgotton/accepted.

In France its usual to riots to happen, folks are not exactly sheeps.

Macron thinks he's "the man", but he'll get his ass kicked if he doesnt snap out of his own personal fantasy.

 

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Sir Wearer of Hats
31 minutes ago, spartan max2 said:

I don't know that many details about the situation so this is a legitment question,

Is this movement a clear majority or is it just a loud minority ?

If it's a majority why can they not vote in a different person next election without rioting?

Because all elections do is replace John Jackson with Jack Johnson.

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stevewinn
18 minutes ago, godnodog said:

its supported by the majority, buthe destruction though is done by anarchist leftist, right wing extremists and common criminals.

Because the next election is not soon but the new taxation was just days/weeks, and politicians constantly bet thwt things will cool off and be forgotton/accepted.

In France its usual to riots to happen, folks are not exactly sheeps.

Macron thinks he's "the man", but he'll get his ass kicked if he doesnt snap out of his own personal fantasy.

 

Funny how Macron was dubbed the saviour of France and Europe. Look at him now. Lowest approval rating for a French President. He was the establishments choice. This was always going to happen. The people in Western Europe are fed up with fresh faced wet behind the ears men in suits. All the problems of Europe coming to ahead. Macron on the ropes. Immigration , unseating Frau Merkel, and leaders across the board falling like ninepins. 

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RAyMO

It wouldn't stop at France ... Ordinary people are fed up with the paying for the failures of systems and policies they have absolutely no control over.

Major overhaul of democracy and the relationship of people to government across the "west" is long overdue.

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Sir Wearer of Hats
1 hour ago, RAyMO said:

It wouldn't stop at France ... Ordinary people are fed up with the paying for the failures of systems and policies they have absolutely no control over.

Major overhaul of democracy and the relationship of people to government across the "west" is long overdue.

Do you hear the people sing?
Singing a song of angry men?
It is the music of a people
Who will not be slaves again!
When the beating of your heart
Echoes the beating of the drums
There is a life about to start
When tomorrow comes!

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Dark_Grey
16 hours ago, RAyMO said:

It wouldn't stop at France ... Ordinary people are fed up with the paying for the failures of systems and policies they have absolutely no control over.

Major overhaul of democracy and the relationship of people to government across the "west" is long overdue.

As always, it takes a bad economic situation for ordinary people to get motivated. Expect to see more "yellow vest" protests worldwide as the global economy shrinks and people become desperate

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godnodog
23 hours ago, stevewinn said:

Funny how Macron was dubbed the saviour of France and Europe. Look at him now. Lowest approval rating for a French President. He was the establishments choice. This was always going to happen. The people in Western Europe are fed up with fresh faced wet behind the ears men in suits. All the problems of Europe coming to ahead. Macron on the ropes. Immigration , unseating Frau Merkel, and leaders across the board falling like ninepins. 

one thing I've learned even before I was 20 is there is no such things as saviours.

 Macron did looked like fresh blood in the european scenery, but it all boils down to german somewhat stuberness, and now the french have learned that too. The european comission and the Eurogroup also dont help much, though I have to agree to a certain point to the need of balanced budget, what was done to Greece was pure stupidity, now add more italian "rebellious" crisis and the massively stupidity that is brexit, and a perfect avoidable snitstorm is in the horizon, no wonder extremist ,either left or right, governments are being elected throught out european member states.

Its not the European Union the only thing at stake in a 10year horizon, even what is considered western european democracies may be in geopardy as we can see like in Hungary and Poland (no offense to these great peoples).

A europe wide movement like the fr3nch yellow jackets may be what Brussels and governments need.

 

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Earl.Of.Trumps
On 12/9/2018 at 4:10 PM, RabidMongoose said:

And what happens when Democracy isn't working?

Society ends up with "Mystery Loaf". Enjoy!

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Captain Risky
On 10/12/2018 at 7:04 AM, spartan max2 said:

Give me a quick run down of why I should buy this book?

Well you shouldn’t. The book is written by a fool, a one time finance minister for Greece and he purposely played chicken with the EU and lost... or rather Greece lost since his actions left Greece another $80 billion Euro’s in debt. Yanks Varofakis is sorta a hero for anyone that believes democracy is a magical currency that can make national debt go away and people richer by shuffling zeros from one side of the ledger to the other. 

Basically Yanis Varofakis is unemployable now that he screwed Greece and this book is funding his retirement. 

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RAyMO

The yellow coats have got some very decent concessions from Macron.

In the context of Europe this should demonstrate that if people want changes to governance of their everyday lives, and employment - they should target their actions against their OWN government.

Turns out the government even within the context of the EU had quite a lot of flexibility to make the french finances for the most economically squeezed that little bit better.

 

Edited by RAyMO

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stevewinn
3 hours ago, RAyMO said:

The yellow coats have got some very decent concessions from Macron.

In the context of Europe this should demonstrate that if people want changes to governance of their everyday lives, and employment - they should target their actions against their OWN government.

Turns out the government even within the context of the EU had quite a lot of flexibility to make the french finances for the most economically squeezed that little bit better.

 

Maybe to little to late, desperate move by a man trying to save his political career. 

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RAyMO
44 minutes ago, stevewinn said:

Maybe to little to late, desperate move by a man trying to save his political career. 

:) But aren't they all at the minute.

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