Quote: Nick Nockerty @ 26th January 2016, 7:23 PM GMTLending rates are based on risk. We're currently underwritten by the world's largest single market the EU. Of course this helps our credit rating.
Again, I would argue we're mostly underwritten by the EU's much-hated "Anglo Saxon model" of finance (i.e. ours) rather than our membership of that particular club.
Quote: Nick Nockerty @ 26th January 2016, 7:23 PM GMTTotally agree with your point about the Euro, but no one was forced to join.
That's not quite true. Joining the euro is a condition of joining the EU. And under the Maastricht Treaty, the UK and Denmark had to get explicit opt-outs from joining. Yes Greece could have joined us, and/or refused to sign-up, but was either a realistic option for them? Probably not.
Quote: Nick Nockerty @ 26th January 2016, 7:23 PM GMTI wholeheartedly agree with your point about corruption. But isn't that more to do with human nature and the types of people that gravitate towards power ?
In part. But it's actively fostered by the massive, monolithic bureaucratic system of both governance and administration within the EU. It gives them more places to operate, and to hide, with even less accountability and scrutiny over what they do and how they spend our money.
Quote: Nick Nockerty @ 26th January 2016, 7:23 PM GMTGreece wisely decided not to follow the route of devaluation. It has some nasty side effects, consider Germany just after the war.
Nastier than what they've been experiencing for the past 2 or 3 years? (West) Germany post-WWII boomed. Look at them now. Has any kind of recovery in Greece begun yet? Or will it soon?