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UK to face £4 billion bailout for Portugal ! watch

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    (Original post by Steevee)
    I have mixed feelingfs about this, it is a loan after all and we stand to make money in the long run..
    Providing the Portugese economy doesn't collapse completely and all loans are cancelled....

    Even if we do stand to make money in the long run, that's not helping us now.
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    (Original post by eLECTROLOSIS)
    Yep.. but it wasn't concerned with the validity of the point.. More to do with the amount of conservatives that would negative rep me
    As someone who isn't a supporter of the Conservatives, even I think your point was silly.

    Alastair Darling signed the contract saying we'd bail countries out, not the Conservatives.
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    (Original post by eLECTROLOSIS)
    Nope.. No loans would need to be guaranteed if the investment banks, which Gideon (George for short) Osbourne is so friendly with, hadn't gambled so irresponsibly with the savings of ordinary people.
    :rolleyes:

    Tell me, who exactly signed us into having to give these loans? Not Cameron, Not Osbourne, not Clegg.

    It was Alistair Darling
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    (Original post by Rascacielos)
    Providing the Portugese economy doesn't collapse completely and all loans are cancelled....

    Even if we do stand to make money in the long run, that's not helping us now.
    Hence the mixed feelings
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    (Original post by Kaykiie)
    As someone who isn't a supporter of the Conservatives, even I think your point was silly.

    Alastair Darling signed the contract saying we'd bail countries out, not the Conservatives.
    (Original post by Steevee)
    :rolleyes:

    Tell me, who exactly signed us into having to give these loans? Not Cameron, Not Osbourne, not Clegg.

    It was Alistair Darling

    Well.. at the time Mr.Darling had no choice given that exceptional circumstances meant that Britain was stripped of its veto. What the OP failed to mention is that the Labour government managed to keep us out of an even larger fund as an underwrite for the 13 Eurozone countries at the time. So if not for 'The last Labour Government' the UK taxpayer may have been forced to pay more.
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    1st of all if that money are just a gift why all countries are trying not to take them ? Regulations.Return the loans.More regulations.2nd of all if portugal crash then spain will crash and after spain crash italy will crash and so on and so on. If the eurozone crash UK won't be far behind.
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    (Original post by kevin6767)
    But we are not part of the Eurozone, we have no say in euro policy. That is the same for the Danish and several other EU nations that are not part of the Euro. We did not sign up to the single currency and it, as a currency, has little to do with us. We shouldn't bail out eurozone countries in the same way we shouldn't bail out other currencies. If I was George Osborne I would just flatly refuse to fund a bail out of another currency. The loans we offered to Ireland were private loans i.e. not part of a eurozone bailout because we have a vested interest in the Irish economy. If they euro collapses it wont just be us that will be effected, China will be pretty pissed off considering the money it has poured into the currency by buying foreign reserves.
    I didn't say we are part of the eurozone but we are part of europe so if the euro fails it will still servilely affect us therefore it is quite clearly in our best interest to help make sure this doesn't happen
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    (Original post by mikeyd85)
    FFS. Right. I'm running for PM. I have two policies:

    1) Legalise the sale of cannabis and tax it.
    2) Stop all aid to other countries - we should be looking after ourselves first.
    Got my vote.
    Any chance you can legalise firecrackers too?
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    (Original post by eLECTROLOSIS)
    Well.. at the time Mr.Darling had no choice given that exceptional circumstances meant that Britain was stripped of its veto. What the OP failed to mention is that the Labour government managed to keep us out of an even larger fund as an underwrite for the 13 Eurozone countries at the time. So if not for 'The last Labour Government' the UK taxpayer may have been forced to pay more.
    So you say. What proof have you? Who's to say a Conservative, or even LibDem government couldn 't have shown more backbone? We all know Labours history of grovelling to the EU.

    It is clear that Darling is to blame, not Osbourne. So don;t make such stupid comments.
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    (Original post by M1F2R3)
    Got my vote.
    Any chance you can legalise firecrackers too?
    Ah, why not. Please the electorate and all that.
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    (Original post by Steevee)
    So you say. What proof have you? Who's to say a Conservative, or even LibDem government couldn 't have shown more backbone? We all know Labours history of grovelling to the EU.

    It is clear that Darling is to blame, not Osbourne. So don;t make such stupid comments.
    Read this Torygraph article.. Don't quote me again because I can't be bothered replying.

    "Britain last night succeeded in staying out of an even larger fund solely for the 13 countries using the euro."

    "Britain escaped being sucked into the wider bailout loans but was forced to underwrite the “stabilisation mechanism”


    <<< Keyword: Forced

    http://www.telegraph.co.uk/news/worl...-caves-in.html
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    I apologise on behalf of my country.
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    (Original post by mikeyd85)
    Ah, why not. Please the electorate and all that.
    Pro.
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    (Original post by Steevee)
    Hence the mixed feelings
    Aye. :getmecoat:
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    what the hell is this?we should we able to choose!this shouldnt be a bloody 'requirement',Alistair Darling is a complete ****.
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    (Original post by eLECTROLOSIS)
    Read this Torygraph article.. Don't quote me again because I can't be bothered replying.

    "Britain last night succeeded in staying out of an even larger fund solely for the 13 countries using the euro."

    "Britain escaped being sucked into the wider bailout loans but was forced to underwrite the “stabilisation mechanism”


    <<< Keyword: Forced

    http://www.telegraph.co.uk/news/worl...-caves-in.html
    :eek: You mean we were under pressure from the EU? Who would'a thunk it?

    Newsflash, we are always under pressure from the EU. That's why we need to tell brussels to take a running jump now and again. Losing only a finger instead of a hand is no achievment when you could have kept the knife away from you all together.
    • Political Ambassador
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    Political Ambassador
    Wonder if the Eu is going to realize that giving a bailout is like trying to heal a gunshot wound with an aspirin
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    (Original post by Steevee)
    :eek: You mean we were under pressure from the EU? Who would'a thunk it?

    Newsflash, we are always under pressure from the EU. That's why we need to tell brussels to take a running jump now and again. Losing only a finger instead of a hand is no achievment when you could have kept the knife away from you all together.
    In all honesty I agree with you. I'm neither pro-EU nor am I anti-EU. It provides a lot of our trade but when our exports are only £200/£250bn with bailouts and guarantees needed to be payed on top I don't see the benefit especially when our services are getting cut.

    AND... I still can't travel around without a passport haha
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    (Original post by eLECTROLOSIS)
    In all honesty I agree with you. I'm neither pro-EU nor am I anti-EU. It provides a lot of our trade but when our exports are only £20/£30bn with bailouts and guarantees needed to be payed on top I don't see the benefit.

    AND... I still can't travel around without a passport haha
    Ahh, at least we partially agree here.

    To be honest, I see little need for the EU, other European countries manage just fine without being a member. And the amount we pay for the 'privilge' of being a member, and all the other hundreds of things, like their ridiculous laws, well it just leaves me thinking we really don't get enough out for what we put in.
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    Why does the EU think the loan won't just delay the problem for a few months, especially since Portugal's economic woes are rooted in little tax receipts for a large public sector and they have refused to go for any austerity measures? Sounds like giving a junkie more heroin tbh.
 
 
 
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