Aaron
Tuesday 26th January 2016 6:55pm
Royal Berkshire
69,937 posts
Quote: Nick Nockerty @ 26th January 2016, 6:34 PM GMT
If no one had bailed out Greece, things would have been far worse. They got an IVA rather than being asset stripped. There was talk at the time of foreclosing on the country's assets. It would have been Armageddon for Greece without the EU bail out
This is partially true. But it's the EU and the bonkers euro currency that put Greece in that situation in the first place, so it's hardly something to praise them for coming to Greece's rescue...
Aside: Greece would have had a much better time if it had dropped out of the euro and restored the drachma, devaluing and restructuring its economy.
Quote: Nick Nockerty @ 26th January 2016, 6:34 PM GMT
If the UK left the EU our lending rate would rise, our trade links and political influence would demise. And for what ?
That's not necessarily the case. We continue to run an astronomic debt and deficit (there is no austerity), yet our lending rate is incredibly low because the markets have faith in our wider economic attitudes, plans, and long-term viability. The same would be the case if we left Europe; indeed some markets may even view us more favourably.
Trade links diminish? Pull the other one. We import WAY more than we export. Any suggestion that we'd have a difficult trade relationship with European nations is a straight-out lie designed to make you vote 'in' out of fear.
As for wider trade links, under EU law we are not allowed to reach trade deals with non-EU countries unilaterally. Leaving would allow us to do this. So quite the opposite of your assertion, our trade links would boom, and we'd be able to do much better business, and do it with countries whose economies aren't plummeting (the EU), but exploding (India, Brazil, etc).
Political influence ... I mean, similarly. We have little to no influence in the EU. We are more than good enough to stand on our own feet on the world stage. As are France, Denmark, Germany, and the rest who are currently shackled to the european corpse.
And for what? Freedom, democratic accountability, spending our money properly.
Let us not forget that the EU gravy train is so corrupt and bloated that its own accountants haven't signed off its accounts for well over 20 years.
Quote: Nick Nockerty @ 26th January 2016, 6:34 PM GMT
I though Greece just spent money it didn't have and no one would then lend to them.
Far more complicated than that. They went into economic union with countries (Germany, mainly) whose economies were about as different as they could be.
They took out billions (trillions?) of euros in loans from German banks to buy German goods and services with a currency that was (and is) effectively being run in the interest of the German economy.
Of course, Greece was encouraged and assisted by the EU establishment (again, largely read: Germany) to cook its books and fudge its economy so that it was eligible to join the euro in the first place. Goldman Sachs (now, surprise surprise, advocating the UK stay in the EU) engineered this, and made billions for themselves in doing so.
It's a massive, corrupt corporatist racket.