Dusty Bin wrote:
Stationtone wrote:
Doom wrote:
I think the Euro has proven itself to be exactly what it was designed to be, a complete disaster.
The euro zone has better growth and inflation rates than the uk

so if the euro is a complete disaster what do we call wastminster

That's probably because economically it's dominated by the large countries like Germany and France rather than tiddlers like Greece and Portugal.
And that's why the euro has turned out to be a bit of a disaster. If the German economy is powering on then it needs high interest rates, thus the European Central Bank in Frankfurt will deliver that.
But the smaller countries which aren't doing quite so well have to endure the same high interest rates, which will cripple their economies even further.
A few years ago Alex Salmond was bleating that interest rates set in London were inappropriate for Scotland.
So instead his big idea was to join the euro and have interest rates set in Frankfurt.

Wonder why he changed his mind on that one?

This is BoLLOX.
The eurozone has continually operated with interest rates lower than ours.
It is UK Ltd that has had higher rates, higher mortgages and has been ripping us off for years.
This is why the UK is referred to as treasure island.
Here's an example.
Our BoE base interest rates are set at 0.5%.
Yet our credit card rates border on usury. From 12 to a whopping 39%.
And yes, its the poor who are paying the 39%.
So, when credit was readily given at the lower end, people spent their credit. But the usurers soon inflated the rates to the higher end as folks got into difficulty. The more difficulty, the higher the interest penalty.
What this means is that debts build up rather than get paid off. And as more interest is paid from salaries, less real money is spent in the economy on goods and services (taxis) that provide employment. The numbers in work reduce as demand slows. More financial difficulty, the benefits bill increases. Taxes then increase to meet the new benefits burden and lo and behold government is spending beyond its means.
The Tories coming to power (Tories, LibDem Tories and Labour Tories) and sucking more money out of the economy through cuts in jobs and benefits while increasing both direct and stealth taxes sucks even more liquidity out of the economy.
Thus our government is effectively closing our economy down. But this is not unexpected, because its what the Tories always do when they come to power. They deliberately create unemployment, designed to sap the will of the workers to fight for their rights, the instability in the jobs market setting workers against workers rather than demanding rights from government.
Its no accident the politicians have set themselves apart as a political class. After all, who would want to be associated as equals with the very people they are stiffing?
This is what those who died in the trenches sacrificed their lives for.
Was it worth it?