🇪🇺 Discussion: The European Union

[hippie_hunter]

Moody's has downgraded Belgium two notches to Aa3.

 

[hippie_hunter]

S&P has downgraded France and Austria's debt to AA+, ending their AAA status. Italy has been downgraded two notches to BBB+, just barely above junk status. Portugal has been downgraded to two notches into junk status. Spain and Cyprus has been downgraded two notches. Malta, Slovakia, and Slovenia have been downgraded one notch. All Eurozone nations except for Germany have been put on notice that further downgrades could happen in the near future.

Talks between the Greek government and the private sector have completely broken down. If talks do not resume or produce a positive outcome, Greece will go bankrupt sometime in March.

The Euro has dropped to a 17 month low as a result in the markets today.

 

[Kelly]

That is very tough for France, they own their own debt.......this is not good.


The UK is probably laughing at the Euro right now, and Ireland is probably thinking....why, why, why didn't we listen to the British.

 

[Dr. Evil]

The UK has a new issue to deal with besides the Euro:

http://news.yahoo.com/uk-faces-eu-negotiation-scotland-breaks-away-033245767.html

 

[hippie_hunter]

Polling in the UK shows some interesting results over Scotland:

- 43% of English voters approve of Scottish independence as opposed to 32% disapproving.

- 40% of Scottish voters approve of Scottish independence with 43% disapproving.

 

[Marvolo]

The UK has a new issue to deal with besides the Euro:

http://news.yahoo.com/uk-faces-eu-negotiation-scotland-breaks-away-033245767.html

I feel dumb asking this, but what exactly does this mean?

I thought Scotland was already independent and free? And Ireland is a part of the European Union? I wasn't aware of that.

I've been so focused on American politics and the upcoming election I'm afraid I've let my knowledge of world politics slip into the gutter.

 

[the_ultimate_evil]

Polling in the UK shows some interesting results over Scotland:

- 43% of English voters approve of Scottish independence as opposed to 32% disapproving.

- 40% of Scottish voters approve of Scottish independence with 43% disapproving.

see i'm torn on the who scottish independence thing, if it goes through, you can guarantee people/idiots will start campaigning for it here again in N.ireland

and we don't debate we just blow each other the **** up, and thats all we need

 

[Dr. Evil]

I feel dumb asking this, but what exactly does this mean?

I thought Scotland was already independent and free? And Ireland is a part of the European Union? I wasn't aware of that.

I've been so focused on American politics and the upcoming election I'm afraid I've let my knowledge of world politics slip into the gutter.

Scotland has been a part of the United Kingdom for 300 years.

Scottish independence though could cause a major ripple affect all throughout the European continent.

 

[Kelly]

Polling in the UK shows some interesting results over Scotland:

- 43% of English voters approve of Scottish independence as opposed to 32% disapproving.

- 40% of Scottish voters approve of Scottish independence with 43% disapproving.

Right now, that would be very dumb on Scotland's part.....very dumb.

 

[Marvolo]

Scotland has been a part of the United Kingdom for 300 years.

Scottish independence though could cause a major ripple affect all throughout the European continent.

Oh I thought they were free the moment Mel Gibson declared "FREEEEEDOOOOOMMMMM!!!"

LOL, in all seriousness thanks for the info.

 

[hippie_hunter]

S&P has downgraded the European Financial Stability Fund from AAA to AA+. The EFSF is Europe's bailout fund.

 

[hippie_hunter]

The NYT is reporting that leaders from the EU, ECB, and IMF are starting to come to the conclusion that Greece does not have the will or ability to implement the necessary reforms it promised in exchange for aid. They are preparing to withhold aid and focus more on attempting to mitigate the effects of an uncontrolled default as opposed to actually helping Greece. They believe that the situation has become untenable.

 

[Kahran Ramsus]

The NYT is reporting that leaders from the EU, ECB, and IMF are starting to come to the conclusion that Greece does not have the will or ability to implement the necessary reforms it promised in exchange for aid. They are preparing to withhold aid and focus more on attempting to mitigate the effects of an uncontrolled default as opposed to actually helping Greece.

Starting? You mean it wasn't already obvious?

 

[hippie_hunter]

Starting? You mean it wasn't already obvious?

Yeah it was obvious, but they just didn't want to give up. It would look really bad if they had to kick Greece out of the Euro.

 

[Marvolo]

So is Greece getting the boot now?

 

[hippie_hunter]

So is Greece getting the boot now?

If Greece defaults in March, depending if they cannot reach an agreement with the lenders and if the EU has decided to give up on them, then yes they will get the boot. The EU has said that Greece will be booted out if they default.

 

[chamber-music]

If Scotland do go independent they are going to keep the British sterling apparently.

see i'm torn on the who scottish independence thing, if it goes through, you can guarantee people/idiots will start campaigning for it here again in N.ireland

and we don't debate we just blow each other the **** up, and thats all we need

I think people are afraid that if they have the referendum in Northern Ireland and republicans don't win that they will lose faith in the peace process and things will go back to how they were before.

 

[Midnyte_Sun]

EU report calls for action against Israeli settlements

The European Commission is being urged to consider drafting legislation to ensure financial transactions by EU member states do not support Jewish settlements in East Jerusalem. The proposal is made in a confidential report by top EU diplomats in the area. The report says "the systematic increase in settlement activity" undermines a two-state solution to the Israel-Palestinian conflict.

The EU document argues that Israel is "actively perpetuating its annexation" of Arab East Jerusalem, which it captured in 1967, by "systematically undermining the Palestinian presence in the city".

It outlines the problems caused by "the continued expansion of settlements, restrictive zoning and planning, ongoing demolitions and evictions, an inequitable education policy, difficult access to health care, water, the inadequate provision of resources and investment and the precarious residency issue".

Source: http://www.bbc.co.uk/news/world-middle-east-16612274

 

[Dr. Evil]

Croatia to vote on referendum of EU Membership:

http://news.yahoo.com/croats-vote-eu-membership-referendum-073819683.html

 

[hippie_hunter]

Croatia has voted yes to join the European Union.

 

[Axl Van Sixx]

Despite all the EU's bailout attempts, the question was never if Greece would default, but when.

 

[Dr. Evil]

Croatia has voted yes to join the European Union.

That may or may not be a bad thing for Croatia, depending upon their economy.

 

[hippie_hunter]

That may or may not be a bad thing for Croatia, depending upon their economy.

They'll be fine if they don't join the Euro. While they may be legally required, it's not like the EU does anything to enforce it. Sweden and the Czech Republic are getting away with it and it looks like Poland is rather lukewarm to joining the Euro with most of the population opposed to joining it and the government adopting the position that they will join it once the crisis is solved and if it is beneficial to Poland.

 

[hippie_hunter]

S&P and PIMCO are coming out saying that Greece will default no matter what the outcome is.

 

[enterthemadness]

What's the worst case? This all reminds me of Paul saying the IMF and U.N are talking about a new currency. I just know this is bad.