Italexit

W

wanton dwarf

Member
Muck Spreader said:
I don't think the Italians, just like the Greeks before them have any strong desire to leave the EU or the euro for that matter. They are just having petulant child moment particularly aimed at mother Germany. In reality, Italy like Greece and Portugal had economies that were far too weak to comfortably survive with the northern European euro countries, and as a consequence have suffered ever since. So the EU and the countries concerned must bare equal responsibility for the situation.
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Mother Germany ? :ROFLMAO::ROFLMAO::ROFLMAO:

God help anyone with a mother like that .. one moment wiping out her "Offspring" then next making them financially bankrupt, unemployed and flooded with illegals.

The Euro IS the problem, the "Solution" of freedom of movement to relieve unemplyment only works if people treat their culture, heritage and family as worth little so they leave their roots - even if they do that brings social problems of disassociation which I can speak of from experience. Being 50 years old and having lived in about 20 countries I find the whole ideology horrific and truely worthy of "Mother Germany".
 
bluegreen

bluegreen

Member
Zero Hedge...……………."Quitaly" :p

In other words, ten years since the Lehman crisis and six years since the euro debt crisis and Italy’s labour cost adjustment has not even begun, and if it does, it is safe to say that Rome faces a political crisis the likes of which it has not seen in a long time.

Putting this all together, the lack of any internal devaluation so far and the unattractiveness of a Greek style PSI leave limited options to Italy to adjust within the monetary union.

This, coupled with Italy's massive Target2 imbalance which becomes an instant asset the moment the country decides to exit the Eurozone and never repay it much to the chagrin of Mario Draghi, together with a decent current account surplus - one which would only soar should Italy revert to the lira supercharging the country's exports, which as explained above reduces the own cost of exiting the euro from a narrow current account adjustment point of view, will likely continue to make the country vulnerable to populist pressures to exit the monetary union.

That is the gloomy, if stunning, JPMorgan conclusion, although as a hedge, the bank also notes that the road to Quitaly, as the Greek fiasco in 2015 showed all too clearly, would be anything but easy and neither Brussles nor the ECB would go down without a fight. JPMorgan also notes that the above take also ignores other potential costs from an exit highlighted by the market reaction this week, such as the possibility that it could trigger a broader crisis and, if the Greek script is repeated, capital controls.

Then again, if Italy ever got to the point where lines of panicked depositors form outside Italian banks a la Greek summer of 2015, one can wave goodbye to the euro and the European experiment.(y)
 
Deutzdx3

Deutzdx3

Member
The euro was never going to work. You have may different cultures with many different ways of life and what’s important to them in life. In Germany it’s working hard to earn, italy its living life as is Spain etc, italy relies on export and tourism. As most of us know here, Italians have a knack of making great machinery and cars. As does Germany but in a different way. The euro has always been an unfair currency propped up by the Germans, trying to bring together many different cultures with different life and work ethnics was never going to work. I’m glad we kept the pound. It’s put us in a much better situation come the fall of the euro. Good luck to italy, it’s a lovely place, lots of lovely people, steeped in history and I would love to see it be whats it’s always promised to be. Good time ahead. Ciao.
 
A

Ashtree

Member
RobFZS

RobFZS

Member
Ashtree said:
Looking at the economic lesson you are getting on the effects of “exiting”, without a post exit plan and the now apparent incapacity of the snake oil men to form a plan, I’m sure the Italians will come to their senses.

Shock manufacturing slide casts doubt on UK economy's bounceback http://uk.reuters.com/article/uk-br...doubt-on-uk-economys-bounceback-idUKKBN1J70SW
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Just like the Scot's, all that will happen, is the resentment will eventually bubble up, with a plan and there will be the perfect opportunity and they'll be out.

I find the notion that you're over the moon being tied to something specially for the parasites to benefit in the city somewhat malign, just how much sovereignty would you give away before you feel uncomfortable?
 
A

Ashtree

Member
RobFZS said:
Just like the Scot's, all that will happen, is the resentment will eventually bubble up, with a plan and there will be the perfect opportunity and they'll be out.

I find the notion that you're over the moon being tied to something specially for the parasites to benefit in the city somewhat malign, just how much sovereignty would you give away before you feel uncomfortable?
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The tide of social media, Facebook, Twitter, etc, and the extremely interconnected and interdependent world we live in today, has effectively redefined the word sovereignty!

Isn’t it ironic, that to a pretty large degree today in the context of Brexit, the most emphasis on and value of sovereignty is held by English nationalists. The very same nation that for hundreds of years deprived half the world of true soverignty, when sovereignty actually meant soverignty.
Now you bang on about it, as if it’s your DNA, when it has been silently and discreetly holed below the water libe by Putin and his bots!!! Your beloved Brexit soverignty is no doubt a tainted version thereof!! Probably learn a bit more about Aaron Banks and Tinpot Farage over the coming months. It be interesting I’m sure.
 
RobFZS

RobFZS

Member
Ashtree said:
The tide of social media, Facebook, Twitter, etc, and the extremely interconnected and interdependent world we live in today, has effectively redefined the word sovereignty!

Isn’t it ironic, that to a pretty large degree today in the context of Brexit, the most emphasis on and value of sovereignty is held by English nationalists. The very same nation that for hundreds of years deprived half the world of true soverignty, when sovereignty actually meant soverignty.
Now you bang on about it, as if it’s your DNA, when it has been silently and discreetly holed below the water libe by Putin and his bots!!! Your beloved Brexit soverignty is no doubt a tainted version thereof!! Probably learn a bit more about Aaron Banks and Tinpot Farage over the coming months. It be interesting I’m sure.
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I'll ask again..

Just how much sovereignty would you give away before you feel uncomfortable?
 
A

Ashtree

Member
RobFZS said:
I'll ask again..

Just how much sovereignty would you give away before you feel uncomfortable?
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I don’t have and this nation doesn’t have ANY sense of loss of soverignty. We freely chose participation in the EEC and freely participated in the evolution into what it is today.
Another option of course would be to live in the shadow of the next door island, which we did for centuries to our great loss,
We are European. Our Celtic forefathers trekked to this island from Europe. We have no difficulty whatsoever with our place in the grand scheme of things.
PS; we are today 2018 net contributors to the EU budget and look forward to growing our economy as it is growing at the fastest pace in Europe today. Consequently our contribution will increase. Cest la vie!! Win win.
 
RobFZS

RobFZS

Member
Ashtree said:
I don’t have and this nation doesn’t have ANY sense of loss of soverignty. We freely chose participation in the EEC and freely participated in the evolution into what it is today.
Another option of course would be to live in the shadow of the next door island, which we did for centuries to our great loss,
We are European. Our Celtic forefathers trekked to this island from Europe. We have no difficulty whatsoever with our place in the grand scheme of things.
PS; we are today 2018 net contributors to the EU budget and look forward to growing our economy as it is growing at the fastest pace in Europe today. Consequently our contribution will increase. Cest la vie!! Win win.
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What change to ever closer union would make you uncomfortable that your country is being undermined?
 
RobFZS

RobFZS

Member
RobFZS said:
What change to ever closer union would make you uncomfortable that your country is being undermined?
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Silence is telling , either he's an euro Marxist who would sell his granny for EU integration, or he just a sh!t liar that got in too deep.
 

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