Posts tagged ‘Euro’

March 24, 2013

Legally Robbed

cyprus-bank-protest

As I write, the Cypriot President is in Brussels trying to negotiate a deal to rescue his financially strapped country from bankruptcy.  The potential deal is thought to include a mandatory tax of 20% on those with savings over €100,000.  Last week the tax that was being agreed was 10% on all savings over €10,000 which amounts to legally sanctioned daylight robbery.

It’s an understatement to say people on the island are aren’t very pleased

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October 4, 2012

Spaghetti Union

A story broke today about an Italian local government officer who slashed the tyres of a disabled man’s car as he complained that the minister was using the disabled parking spot.  Yesterday news broke out from the Great Stiletto that the head of the tax collection agency had been arrested

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August 2, 2012

Short Bargain Break

Following a tip from a travel agent on BBC Radio 4 a while ago, I decided to take a short city break to Valencia. The agent suggested that countries affected the most by the recession are offering the best value for tourists and she wasn’t wrong. Normally visiting Europe feels and is so expensive but this trip left me with change.

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July 11, 2012

Hit the Eject Button

As the Top of the Bailout Pops continues I will provide a useful summary of the single currency crisis so far:

Bailout received:

Portugal €78 billion

Italy N/A (yet)

Ireland € 77 billion

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January 26, 2012

Euro Millions Lottery: Where Will it End?

Angela Merkel is certainly stubborn and Eurozone countries that are not in financial trouble have joined a growing chorus, including respected economists, that she is putting German interests ahead of Europe’s.

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December 12, 2011

Just Say No

So Cameron stood his ground and said “No”.

What does this mean? Nobody knows. There are some who believe this is the best thing since sliced bread, some who think he has failed Britain miserably and Nick Clegg who just doesn’t know which way to swing.

But in reality nobody knows what the impact of Cameron’s decision will be; not the economists; not the finance ministers; not the politicians and not the general public. They can only speculate as Cameron clearly says “We are not in this together,” to Europe.

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October 28, 2011

Freedom Fries

Nicolas Sarkozy apparently snapped at David Cameron telling him that he was fed up of Britain telling them how to fix the Euro and it was none of our business as we were not part of the single currency.

The new father must be suffering

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July 8, 2011

Another Day, Another War

I don’t profess to know more than the real basics about this topic but why are the Euro zone countries declaring war on ratings agencies?  Just because they cannot manipulate private companies to do what they dictate, the Euro countries have decided to ‘clamp down’ on ratings agencies as some of them declared Greece to be in default in all but name and that Portugal’s bonds are like junk.

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May 25, 2011

Eurovision Debt Contest

What is going on in Euro zone, another country joins the downgrade top of the pops every week. Today Germany’s cost of borrowing increased, Italy yesterday, Spain last week and we’ve been reading about the Greek and Irish crises for some time now.  Without wanting to seem like a card carrying Tory, why are we legally obliged to help these countries in their bailout when we have enough of our own financial problems to deal and we do not use the Euro? 

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April 27, 2011

The Bold and The Beautiful

Road tolls in Greece are bearing the brunt of Greek anger towards their country having to restructure their national debt.  As the reality of the cuts begin to sink in,  many Greeks have refused to pay the country’s road tolls

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