Lloyd's has plans for Euro collapse

With Greece looking more and more likely to leave the Euro in the coming months business leaders are now openly talking about the need for contingency plans should Greece go back to their previous currency.

Personally I think that whether or not Greece leaves the Eurozone we will definitely see a trend of Eurozone 'drop outs' with the increase in austerity measures in Europe.

The whole pack of dominoes are wobbling, the people are pissed about austerity and something is going to snap soon.

Lets hope that we see some good political change rise from the ashes of the Eurozone instead of an even bigger capitalist firesale of Europe.

I dread the latter whereas I'm sure any die hard globalization nut has a hard on for it.

www.bbc.co.uk/news/business-18226128

People might be pissed about austerity but they're also pissed about increased taxes to pay for all the social programs offered by Governments.

Governments can't continue to run massive budget deficits and expect the party to continue as normal, and the citizens can't expect governments to keep running into hock to provide the services they've been used to and have the party continue as normal.

Just as in households that spend beyond their means to support a lifestyle they can't afford, eventually, Governments will go bankrupt if they continue down this path.

Just as in Greece and other European nations, the USA will also decide eventually that they can't keep a budget deficit of over $1 trillion maintained on a long term basis, and will have to implement either budget cuts, tax increases, or more likely, both, in order to balance the books. When 60% of your budget is servicing debt, you can't be reasonably expected to carry on that level of spending. About 15% of my monthly budget goes towards debt repayment, and this causes cutbacks in other areas of my spending, I can't imagine doing this at 60%.

Of course Lloyds is preparing plans in preparation for a Euro collapse, it would be irresponsible of them not to at least consider the possibility.

It doesn't mean they consider it a STRONG possibility, just a possibility.

In the same vein, the USA probably also has plans on file to invade Canada "just in case it's needed someday".

reply to post by TechUnique


These are the people you should take note of.

hi op

according to our pathetic prime minister we have a contingency plan
what would that be mr camemoron
take in a load more of immigrants that we have to house and feed...
feck this bloody island britain was great once upon a time...

Good for them, I have collapse plans of my own.
Dirt and seeds, you can't eat gold or silver.
Well, I guess you could but....

Originally posted by babybunnies
People might be pissed about austerity but they're also pissed about increased taxes to pay for all the social programs offered by Governments.

Governments can't continue to run massive budget deficits and expect the party to continue as normal, and the citizens can't expect governments to keep running into hock to provide the services they've been used to and have the party continue as normal.

Just as in households that spend beyond their means to support a lifestyle they can't afford, eventually, Governments will go bankrupt if they continue down this path.

Just as in Greece and other European nations, the USA will also decide eventually that they can't keep a budget deficit of over $1 trillion maintained on a long term basis, and will have to implement either budget cuts, tax increases, or more likely, both, in order to balance the books. When 60% of your budget is servicing debt, you can't be reasonably expected to carry on that level of spending. About 15% of my monthly budget goes towards debt repayment, and this causes cutbacks in other areas of my spending, I can't imagine doing this at 60%.

Of course Lloyds is preparing plans in preparation for a Euro collapse, it would be irresponsible of them not to at least consider the possibility.

It doesn't mean they consider it a STRONG possibility, just a possibility.

In the same vein, the USA probably also has plans on file to invade Canada "just in case it's needed someday".

edit on 27-5-2012 by babybunnies because: (no reason given)

edit on 27-5-2012 by babybunnies because: (no reason given)

It's all about priorities, and in the U.S. military spending is the priority at the tune of 700 billion! What about the largest corporations that pay 0 taxes, and all the offshore tax havens that these multinational companies enjoy? Funny that it always gets back to the average working person that needs to suck it up, cause after all it's the social programs that are bankrupting the world! Gimme a break!

Originally posted by davesmart
hi op

according to our pathetic prime minister we have a contingency plan
what would that be mr camemoron
take in a load more of immigrants that we have to house and feed...
feck this bloody island britain was great once upon a time...

My mother was born in England and moved to Australia when she was ten years old in 1950. When she retired she couldn't wait to go back and see her birth place and country. So off mum and dad went for a trip around Europe including England circa 2004. She couldn't recognize what it once was due to immigration.

Originally posted by surrealist

Originally posted by davesmart
hi op

according to our pathetic prime minister we have a contingency plan
what would that be mr camemoron
take in a load more of immigrants that we have to house and feed...
feck this bloody island britain was great once upon a time...

My mother was born in England and moved to Australia when she was ten years old in 1950. When she retired she couldn't wait to go back and see her birth place and country. So off mum and dad went for a trip around Europe including England circa 2004. She couldn't recognize what it once was due to immigration.

hya

i remember you posted this on a previous thread
and i agree
it must have been a shock for them
fortunately im immune but bloody peed off
watched this once great country turn into a 3rd world in some areas

reply to post by surrealist


Let's keep things in perspective...

over 80% (close to 90% actually) of the population is White British, but if she went into the larger towns and cities, it can be distorted and you'd think you were in Poland or Pakistan, as that is where the immigrants congregate.

Out in the country, England is still England... Hence why I moved out of the big city and into a small market town where we still have the traditional English lifestyle.

Originally posted by jaws1975

Originally posted by babybunnies
People might be pissed about austerity but they're also pissed about increased taxes to pay for all the social programs offered by Governments.

Governments can't continue to run massive budget deficits and expect the party to continue as normal, and the citizens can't expect governments to keep running into hock to provide the services they've been used to and have the party continue as normal.

Just as in households that spend beyond their means to support a lifestyle they can't afford, eventually, Governments will go bankrupt if they continue down this path.

Just as in Greece and other European nations, the USA will also decide eventually that they can't keep a budget deficit of over $1 trillion maintained on a long term basis, and will have to implement either budget cuts, tax increases, or more likely, both, in order to balance the books. When 60% of your budget is servicing debt, you can't be reasonably expected to carry on that level of spending. About 15% of my monthly budget goes towards debt repayment, and this causes cutbacks in other areas of my spending, I can't imagine doing this at 60%.

Of course Lloyds is preparing plans in preparation for a Euro collapse, it would be irresponsible of them not to at least consider the possibility.

It doesn't mean they consider it a STRONG possibility, just a possibility.

In the same vein, the USA probably also has plans on file to invade Canada "just in case it's needed someday".

edit on 27-5-2012 by babybunnies because: (no reason given)

edit on 27-5-2012 by babybunnies because: (no reason given)

It's all about priorities, and in the U.S. military spending is the priority at the tune of 700 billion! What about the largest corporations that pay 0 taxes, and all the offshore tax havens that these multinational companies enjoy? Funny that it always gets back to the average working person that needs to suck it up, cause after all it's the social programs that are bankrupting the world! Gimme a break!

Amen, but just like regular people, if you cut the budget on the military or increase taxes on corporations, you will upset them.

GOP politicians keep claiming that corporate America has the highest rate of tax in the world and that they're going to cut taxes, but in effect, most corporations in the USA have paid ZERO (or close to it) tax in years.

Corporations would rather pay armies of accountants and lawyers to find their way around paying taxes rather than paying the actual taxes themselves.

As far as military spending, American population is completely brainwashed into thinking that it's "unAmerican" not to support the military. Despite about 2.3 million active and stand by military personnel, and only about 500,000 serving overseas, which leaves 1.8 million US military personnel stationed INSIDE the United States. What are they really there for? Probably to defend the establishment against a civilian uprising? But the minute someone wants to cut military spending, that's "Unamerican".

Originally posted by babybunnies
People might be pissed about austerity but they're also pissed about increased taxes to pay for all the social programs offered by Governments.

It's isn't the social programs that are killing countries and forcing austerity measures. It isn't the health care or the pensions or unemployment insurance or the welfare or the disability pensions.

It's those damn interest payments to the IMF through our central bank !!!!

If a country wants to fix the problem, they have to print their own damn money and stop paying these shysters at the IMF and the BIS and the World Bank and the Fed and the BOC, and the etc etc etc....

This isn't rocket science, it's real simple. In Canada if we dropped the IMF run Bank of Canada and Treasury printed our own money, Federal Income Tax would DISAPPEAR, it would no longer be required because there wouldn't be any interest payments.

Cheers - Dave

reply to post by bobs_uruncle


The UK has it's own bank, prints it's own money and actually puts money into the IMF rather than take loans (the last time we did was in the 70's). Our Government raises money via bonds, which can be bought by the man on the street or big corps. The UK being among the few countries in the world to have NEVER defaulted on it's debt repayments, hence why we still have low bond yields are are seen as a stable haven, even in a recession, by investors.

Granted, our debt repayment is to the tune of around £70 billion a year, I think, which is twice the defence budget, but easily manageable in a Government budget of almost a Trillion £'s.. Our problem is not the debt, it's the huge spending which necessitates the borrowing in the first place. Even before the crisis, we were running a deficit to pay for Labours social engineering wet dreams, despite them having inherited a healthy budget surplus in 1997.

my personal view on the european thing is.
they created a whole new european MP scenario
a home for a the washed up #e MP's from many different countries

pay them hunreds of thousands per year..pay their travel. housing etc etc etc
its all a junket...paid for by the populace...me and you folks

welcome to the disturbing facts

Bazzerd

We are seeing bank runs in Greece, which are spreading to Spain.....we are seeing JP Morgans losses keep on growing (hearing 31 billion now) - things are really starting to get worse.

Also, Ireland is looking for another bailout.

reply to post by bazzerd


Don't get me started!

The UK is a net contributor to the EU budget, even with our rebate. In fact, we are second only to Germany with the amount we put in, yet are treated like some sort of fringe nutter who isn't worth listening too, despite all the UK's worries about the EU actually coming to fruition.

UK contributions to the EU are around £15 Billion a year, which again includes the rebate we have. Without it, we'd pay much, much more and get bugger all back.. Imagine what we could do with that money...

I've actually started a grass roots movement with the stated aim of returning the UK to acting in the people's interests, one of which would be to review our relationship with the EU..see my sig..

reply to post by davesmart


Im sure his plan will involve wringing what little the poorest and most vulnerable of society have left out of them, while him and his corporate and bankster cronies all profit even more from it.

There are people making a LOT of money out of all this crap, its #ing disgusting and evil beyond belief. Its the same people who are destroying the planet, destroying nations, killing innocent animals and people, just for money. The government enables them, the police protect them, and the military kill for them.

Theres not a damn thing any of us can do about it either, and they know it. We are all screwed because too few of us acted while we could. If it came down to it and we became an actual threat to them, as has happened, they come down hard on us like the Syrians do to their people (if theres actually any truth in that).

reply to post by Firefly_


I think you are being a little extreme there.

Knowing many people in the Armed forces, they would never obey an order from the Politicians to shoot people who are protesting such as we are seeing in Syria. They despise them as much as we do. In fact, in the 1970's, we came very close to a Military coup because of what the then Labour Government was up too.

reply to post by stumason


Yeah but how many of those same people have served in Iraq or Afghanistan?

I am more worried about the police anyway, they turn up to protests fully armed, and willing to shed blood if they are given the order to.

Originally posted by Firefly_
Yeah but how many of those same people have served in Iraq or Afghanistan?

A few actually. Contrary to what you might believe, our boys aren't savages.

Originally posted by Firefly_
I am more worried about the police anyway, they turn up to protests fully armed, and willing to shed blood if they are given the order to.

No they don't turn up to protests "fully armed", don't be such a drama queen.

By and large, they turn up to a protest in the same gear they wear day in day out. They only get dressed up in riot gear when idiots start torching cars, shops and whatever else they can get their mits on.

People like to think that the poor old students got a rough deal last year, but the fact is they started behaving violent long before the Police kettled anybody and even then, no one was seriously hurt on either side, let alone killed.

The riots were another good example, we didn't even deploy tear gas or rubber bullets, let alone shoot anyone.

Now, to follow your analogy to it's logical conclusion, if this was like Syria, they would have been shot merely for marching, let alone setting fires or attacking the Police.

reply to post by stumason


I would have to research this specifically for the UK, but I seem to remember that the City of London (the square mile) has it's own judicial and financial jurisdiction and is the location of the Bank of England. The Bank of England borrows its money from the City of London which is controlled by the Rothschilds and Oppenheimers. The Rothschilds control the IMF, World Bank and the BIS.

Hmmm, I wonder if your not so much different than the rest of us?

Cheers - Dave