Tag Archives: Britain

Eurozone leaders duck all the big issues – Telegraph

Eurozone leaders duck all the big issues – Telegraph.

Eurozone leaders duck all the big issues

The EU treaty agreement reached by eurozone leaders last week isolated Britain and proposed a new ‘fiscal compact’, but in reality it looks like just a ‘lousy compromise’.

If in doubt, ask a bookmaker. So much noise has accompanied the latest EU crisis summit that it’s easy to miss the main point. Is a eurozone break-up now more or less likely?

Prior to the bad-tempered Brussels meeting, William Hill had priced up the collapse of the eurozone before 2013 at 3/1. The odds post the summit? Also 3/1.

[…]

Read the full story here: The Daily Telegraph

Leave a comment

Filed under Britain, Euro crisis, European Union

The euro crisis will give Germany the empire it’s always dreamed of – Telegraph Blogs

The euro crisis will give Germany the empire it’s always dreamed of – Telegraph Blogs.

Peter Oborne
Peter Oborne is the Daily Telegraph‘s chief political commentator.

The euro crisis will give Germany the empire it’s always dreamed of

By Peter Oborne

Last updated: July 21st, 2011

Many of the biggest losers from the Wall Street Crash were not those greedy speculators who bought at the very top of the market. There was also a category of investor who recognised that stocks had become badly overvalued, sold their shares in the summer or autumn of 1928, then waited patiently as the market surged onwards to ever more improbable highs.

When the crash came in October 1929, they felt thoroughly vindicated, and waited for the dust to settle. The following spring, when share prices had consolidated at around a third lower than the all-time high reached the previous year, they reinvested the family savings, probably feeling a bit smug. Then, on April 17, 1930, the market embarked on a second and even more shattering period of decline, by the end of which shares were worth barely 10 per cent of their value at their peak. Those prudent investors who had seen the Wall Street Crash coming were wiped out.

There was one crucial message from yesterday’s shambolic and panicky eurozone summit: today’s predicament contains terrifying parallels with the situation that prevailed 80 years ago, although the problem lies (at this stage, at least) with the debt rather than the equity markets.

[…]

Read the full story here: The Daily Telegraph

1 Comment

Filed under Britain, broadsheets, European Union, Germany, Media, news & comments, notes and musings from a small island, politics, tabloids

Monetary union, always unworkable, has set in train a European disaster | Simon Jenkins | Comment is free | The Guardian

Monetary union, always unworkable, has set in train a European disaster | Simon Jenkins | Comment is free | The Guardian

Monetary union, always unworkable, has set in train a European disaster

The eurozone is edging closer to doomed fiscal union. But sceptics shouldn’t celebrate, as the chaos will reach Britain too

guardian.co.uk, Thursday 21 July 2011 21.00 BST

At last, a real crisis. The Franco-German salvage operation for the eurozone was inevitable for the simple reason that Armageddon never happens. Nicolas Sarkozy and Angela Merkel patched together yet another “temporary” bail-out for the Greeks, and will do so for the Portuguese and Irish if need be. German taxpayers will pay the Greeks’ bills and aid Europe‘s banks as they continue to profit from 20% interest on their sovereign loans. Power always wins, so long as it can get someone else to pay.

[…]

Read the full story here: The Guardian

Leave a comment

Filed under Britain, European Union, Germany, news & comments, notes and musings from a small island, politics, The Guardian

Christian values in Britain

In a way, the views of British MP Mark Pritchett about attempts to move Christianity to the “margins” of British life [see BBC online news] fit in nicely with the previous post.

1 Comment

Filed under Britain, news & comments

merry-go-round at a British hospital

According to the Guardian Wrap there are plans by Mid Yorkshire NHS Trust to turn the beds of Muslim patients towards Mecca five times a day if they request it and a look at the Trust’s website confirmed that this is already being done at one hospital at least: to my mind another example of political correctness gone too far.

Leave a comment

Filed under Britain, news & comments

need money, steal roof

It’s quite interesting what ingenious thieves come up with: now the actually steal roofs – leaden ones, that is – and not even churches are sacrosanct any more, as the example of Tewkesbury Abbey in England shows.

Leave a comment

Filed under Britain, miscellaneous, news & comments

Big Brother in British schools?

A school in Doncaster is trying out a scheme to track students’ movement with RFID chips woven into their school uniforms, according to a report in the BBC online news service. And the scheme even provides for the pupils’ academic records to be stored on these chips.

Sounds definitely Orwellian, doesn’t it?

Leave a comment

Filed under education, news & comments