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Is Italy really in trouble and will this hit the Euro

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Is Italy really in trouble and will this hit the Euro

http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100028145/only-a-monetary-nuclear-bomb-c...;
Quote
The OECD has drastically cut its growth forecast for Italy. The depression will drag on though most of 2015.
The economy will contract by 0.4pc this year. It will remain stuck in the doldrums next year with growth of just 0.1pc.
If so, Italy’s public debt will spiral to dangerous levels next year, ever further beyond the point of no return for a country without its own sovereign currency and central bank.
“This is catastrophic for the finances of the country. We’re heading for a debt ratio of 145pc next year,” said Antonio Guglielmi, global strategist for Mediobanca.
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Re: Is Italy really in trouble and will this hit the Euro

The fourth line of your quote, Jim, speaks volumes for the U.K. keeping the Pound Sterling, and not adopting the Euro.
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Re: Is Italy really in trouble and will this hit the Euro

Also speaks volumes about our political selfishness too. Remember how we were telling europe to adopt the euro a decade or two back?
We wanted them to have it but we didn't want to be part of it. Something odd about that don't you think?
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nanotm
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Re: Is Italy really in trouble and will this hit the Euro

not really the single market currency was never meant to be the sole currency of the group just something that had a fixed rate of exchange to remove the problems of market speculation on pricing, its why Lamont told them all to shove It up the pipe  and smoke it.....
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Re: Is Italy really in trouble and will this hit the Euro

I'm not sure it will have a major effect on the euro. Some may have already been factored in.
This is yet more proof of the stance taken by George Osbourne in handling our economy. We now have one of the most stable economies in the world.
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Re: Is Italy really in trouble and will this hit the Euro

Quote from: artmo
I'm not sure it will have a major effect on the euro. Some may have already been factored in.
This is yet more proof of the stance taken by George Osbourne in handling our economy. We now have one of the most stable economies in the world.

After thousands of companies hit the wall and put thousands of people out of work and probably destroying hundreds of families  Roll eyes
Still, at least those disgusting scroungers are also being removed from the benefits bill eh artmo?  Wink
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Re: Is Italy really in trouble and will this hit the Euro

If you look at the unemployment figures I think you will see more people in work than ever before Wink Did you manage to find work?
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Re: Is Italy really in trouble and will this hit the Euro

France is a bit of a basket case in terms of its national finances  too.
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Re: Is Italy really in trouble and will this hit the Euro

Quote from: artmo
Did you manage to find work?

Nope  Cry
I've had some nasty health problems making life difficult and unlike the jobseekers, I've had no so called 'help' from the government either. You say more people are working than before, what are you basing that on, actual numbers of people working or people they've got off benefits?
My country turned its back on me a long time ago. I only got surgical help after kicking up a stink about Josie Cunningham getting a boob job remember and theres a funny thing.. i kicked up a stink and then they nearly killed me  Undecided I'm still suffering the consequences of that  Angry
If my country doesn't want me working and having a future then thats how it will be. Me, I'd personally prefer to be working and have some sort of a future but if the tories want me out of work and in the deep stuff to make them all feel powerful then so be it.
The tories would do well to remember that their thirst for power and making life difficult is what has put scotland on the line.
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Re: Is Italy really in trouble and will this hit the Euro

Why would the Tories want to keep you out of work? They would want you working, drawing a salary and not relying on the State. I think DomS is a glowing example of what can be done Smiley
Surely the more people in work means the country having to pay less in benefits and then have more to spend elsewhere.
Steve
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Re: Is Italy really in trouble and will this hit the Euro

Quote from: artmo
Why would the Tories want to keep you out of work? They would want you working, drawing a salary and not relying on the State.
He isn't relying on the state as he stated and you can play with figures till the cows come home. How many people on benefits actually got a job? And how many were kicked off benefits completely and then counted as apparently having a job?
Steve
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Re: Is Italy really in trouble and will this hit the Euro

Quote from: artmo
This is yet more proof of the stance taken by George Osbourne in handling our economy. We now have one of the most stable economies in the world.
How then do we have so many food banks? And I'm just getting started. Wink
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Re: Is Italy really in trouble and will this hit the Euro

Quote from: artmo
I think DomS is a glowing example of what can be done Smiley

I must agree I find DomS an inspiration and despite not having posted in that thread, I do wish him well.
Unfortunately there are a lot of people who are held back from achieveing anything significant with their lives and it is usually the rich that prefer it to remain this way.
Moons ago I was a taxi driver for a while in a very affluent area (health no longer permits this). The rich (you know, those with huge houses and driveways half a mile long) would NEVER give a tip - and I do mean NEVER. Those who were not so well off were always the ones who tipped the most - anything from a couple of quid to a £10 note. The rich would never even tell you to keep the change on a £19.80 fare from a £20 note - they'd have their 20p back every time.
As M Steve says artmo, I'm not claiming from the state - they've ensured I can't and thus they have refused me financial help but also other services such as CVs, training courses etc. They are more than happy to have me out of the way. Like I said, this country turned its back on me years ago.
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Re: Is Italy really in trouble and will this hit the Euro

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Quote from: M
How then do we have so many food banks?

I've never actually seen a food bank.
As for finding work it all depends on your circumstances; 9 years ago when I felt fit enough to return to work after 17 years it was a long uphill struggle to learn how to fit back in with so many new rules, etc. I started by doing voluntary work at the local hospital and then getting excellent support from the Shaw Trust which included assistance with my CV, work experience and 'pep talk'. After 18 months I got temporary seasonal employment in a well-known high street electrical store which I hated but needed for the experience and my CV. A year later I got full-time employment as a claims advisor which was fantastic. Unfortunately I had to start at the bottom which meant putting in many hours overtime including weekends which started to take a toll on my health. After almost a year they increased everyone's workload by 1/3. That was the straw that broke the camel's back and after a month I resigned as my health was failing.
So, now I am doing a degree to see what opportunities may open up for me once completed.

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Re: Is Italy really in trouble and will this hit the Euro

See I was going to do that Mav.. unfortunately the Student Loans Company will not fund me  Roll eyes The tories really have backed me into a corner.
Apparently because I do not know a profressional (teacher, doctor, policeman etc) on a personal level who will sign a form saying they know me and who is not related to me, I do not qualify for funding. My GP will not sign it either because it requires his passport number.
Strangely however, if I go and commit a crime, the police will have no trouble confirming my identity at the police station. The Inland revenue have no trouble identifying me, the DWP have no trouble identifying me but the Student Loans Company (who could actually help me to make something of myself) refuse to fund me because nobody of a recognised profession will witness knowing me.
Pathetic. Absolutely pathetic. A criminal can be identified by the police, jailed and get all sorts of educational help and retraining while inside but I can still not get any help despite not costing the government a penny and being a law abiding citizen.
The tories want me making something of myself?  Grin
The frustrating thing is that I have three relatives who are all in recognised professions - two teachers and a prison guard who have had their own identities vetted by the government yet because they're RELATED to me (and thus can be tracked to me by records and genetics thus PROVING who I really am) they are not allowed to sign the form  Roll eyes
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