Whatever your political persuasion, defend your corner here. All we ask is that you voice YOUR opinion, rather than just post a link to a half-hour youtube video. Politics can get a bit lively, and if you prefer a less combative debate, please post in the Politics for Moderates section instead.
HIC you really are unbelievable!! You spout off about the unbelievably stupid people who voted for BREXIT and yet you did not bother to vote!!
You have written in previous posts how concerned you are that your grandchildren will not have the right to study and work in other countries in Europe but you did not bother to vote - that to my mind just proves how concerned you really were. ( or maybe you actually listened to my answer to you on that and realised that if they had the skills and knowledge required they would be able to work anywhere in the World!)
Re my comment asking you if you were not concerned about how Cyprus would manage once the EU loses the vast amount of contributions from the UK, I did not get this information from anywhere, I have no quotes, no links, just my own common sense judgement. I don't have to quote other people to have my own opinion!
Re the €50 billion+ that you quote - let us wait and see - you nor any of your press mates have any more idea than I do just how much the UK will pay to the EU if anything.
"What I do rail against are the two utter stupidities: first of Cameron giving the electorate the referendum in the first place (bet he didn't think or want it to go the way it did) and the compounded stupidity of people in the UK voting for what they have. They are now about to pay a very serious price for their error of judgement."
How utterly appalling! What exactly is it that gives you the shudderingly superior idea that firstly Cameron was stupid in giving the electorate the referendum, and secondly that some of the population in the UK are also stupid simply because they disagree with your vastly superior knowledge??
Incredibly supercilious comments! I'm staggered that you find it socially acceptable to assume that you are so superior to the rest of us mere mortals that only you can see through the myriad of discussions, debates, votes, results........etc with the EU and with the rest of the world will result in the error of judgement that only your superior knowledge can see. Not for the first time Lloyd you appall me.
smudger wrote: ↑Mon Jun 05, 2017 4:43 pm
How utterly appalling! What exactly is it that gives you the shudderingly superior idea that firstly Cameron was stupid in giving the electorate the referendum, and secondly that some of the population in the UK are also stupid simply because they disagree with your vastly superior knowledge??
Incredibly supercilious comments! I'm staggered that you find it socially acceptable to assume that you are so superior to the rest of us mere mortals that only you can see through the myriad of discussions, debates, votes, results........etc with the EU and with the rest of the world will result in the error of judgement that only your superior knowledge can see. Not for the first time Lloyd you appall me.
He thinks Brexit will bring disaster to the UK.
But laughs at the prospect of it adversely affecting his son because he voted the 'wrong way'!
outasite wrote: ↑Sun Jun 04, 2017 3:15 pmMy question to HiC was why he doesn't renounce his UK citizenship as he evidently has no time for the UK since the Union voted leave, and in his post about voting he has no assets, no property and no business assets, and no plans to ever return.
Wife and I have perfectly good passports which cost us virtually nothing to maintain and which work. At our age in life, why should we spend upwards of €6,500 per person to replace with another
Well, I have searched and searched but I can find absolutely nowhere stating that I will have to pay upwards of €6500 to get a new British passport when we leave the EU. So can you advise where that figure came from? Did it, as I suspect come from a division of Number of Brits divided into the obscene amount that Druncker wants the UK to pay to leave his cesspit?
Poppy wrote: ↑Tue Jun 06, 2017 9:08 am
Outasite I think you misunderstood HIC,as I think he was referring to the price of obtaining Cypriot citizenship and passport.
I think in retrospect that you are right. A lot of money to avoid having to stand in another queue at Arrivals.
It was me who posted the figure of €6500 to legally fast track a Cypriot Passport using a Solicitor. I personally have Permanent Residency but how permanent that is we will have to wait and see.
Further to the discussion on page 1, the ECB is meeting today to discuss the continuation of the 80 billion euro per month money printing (quantitative easing), which they have been doing every month for the past several years. Seemingly unimportant, this aspect of the Eurozone's monetary policy rarely gets into the “news”…
cyprusgrump wrote: ↑Mon Jun 05, 2017 5:43 pmHe thinks Brexit will bring disaster to the UK.
And with all the negative evidence looming on the horizon, you actually think otherwise?
kingfisher wrote: ↑Thu Jun 08, 2017 10:55 amFurther to the discussion on page 1, the ECB is meeting today to discuss the continuation of the 80 billion euro per month money printing (quantitative easing), which they have been doing every month for the past several years. Seemingly unimportant, this aspect of the Eurozone's monetary policy rarely gets into the “news"
Perhaps because it's not the 'shock - horror' news story you'd like it to be? If it was I'm sure I would be reading about it in the financial papers.
And you don't think its truly horrifying how much money the EU are pumping into their currency to keep it afloat?
Jimgym, The ECB has pumped close to a trillion euros a year for several years. What is more, much of it is “backed” by junk grade bonds from almost bankrupt southern European states. But then the refugee crisis has seemingly gone away, and the fact that the “hard right” still make up close to 30% in France, the Netherlands and Italy is conveniently ignored. ..
Happy in Cyprus wrote: ↑Sat Jun 10, 2017 3:06 am
I read the financial section of the Sunday Times word for word, from cover to cover. I also read the financial pages of many papers and magazine articles, including online. I have yet to read anything of note which expresses the urgent concern of those Brexiteers on this forum looking for any opportunity to knock the EU (whose economies - Greece excepted of course - by and large are doing rather nicely, thank you )
Perhaps you should take your nose out of the Financial section of The Sunday Times and the Yahoo Finance Pages once in a while then...?
Spain’s Banco Santander is paying €1 to take over troubled rival Banco Popular, in a deal that illustrates Europe’s new system to rescue failing banks without burdening taxpayers or stressing markets. This is being cheered around the world because the shareholders lost absolutely everything. The bank which was valued in the collapse at €1.6 billion was bought for €1. Forbes wrote:
“This is an excellent example of how the resolution of troubled banks should be done. The shareholders who employed the management which caused the problem lose all their money. The depositors, who were and are not responsible for the bank’s troubles, are protected. And we don’t end up with some great smouldering hole in the financial landscape where Popular used to be, we get new capital raised instead. Further, no taxpayer has been harmed in this operation.”
Santander said Wednesday it will take over all the shares in Banco Popular, which had lost more than half their value since last week as concerns grew about the lender’s financial health. It will raise around €7 billion in a share issue to strengthen Banco Popular’s balance sheet. This “takeover” was conducted in an auction sanctioned by European authorities after the main banking regulator in the Eurozone, the European Central Bank, said Tuesday that it believed Popular was “failing or likely to fail.”
This was the first time the ECB had pulled the plug on a bank since it was given new powers aimed at preventing the rescue of banks from overwhelming government finances. European leaders had all agreed to move banking supervision to the EU level. Hence, the ECB took over supervisory responsibility on in November 2014. The collapse was caused by €7.9 billion in non-performing assets, including €7.2 billion in real estate. Banco Popular shares fell about 38% last week and then another 20% this week, to 0.32 euros per share before regulators halted trading in its shares. The bank had 305,152 shareholders as of the end of March.
The sale is “in the public interest as it protects all depositors of Banco Popular and ensures financial stability,” said the European agency that manages failing banks in the 19-country Eurozone, of which Spain is a member. The Spanish government had previously ruled out bailing the bank with taxpayers’ money. The Spanish Economy minister Luis de Guindos said the sale was “a good outcome” given the shortfall of the lender over the past weeks. He added that this takeover “ensures the maximum protection for depositors and the continuity of the bank’s activity.”
So now comes the €64 trillion question. If government will not bail out banks, then eradicating all value to shareholders attaches a completely new kind of risk to shareholders. If they were investors in a manufacturing company that went bust, the assets would go into bankruptcy and there would be a realistic sale of assets. What has just taken place is that if the net asset value of the bank, its own building, property etc., were say even 20% of the share value, then the shareholder faces a 100% loss in bank stocks compared to any other share investment. That leaves one poignant question? Why buy bank stocks at all?
No doubt some on here will instead of reading the article just attack the source...
EVEN a bank failure can be presented as a triumph. This week Banco Popular, a big Spanish lender, endured a run. Depositors were said to be withdrawing €2bn ($2.2bn) a day. The bank lost half its stockmarket value in four days, as a self-imposed deadline to find a saviour loomed. On June 6th, it was declared by the Single Resolution Board (SRB), an independent agency of the European Central Bank formed in 2015 and charged with winding down banks, to be “failing or likely to fail”. The next morning, Santander, Spain’s biggest bank, announced its purchase for the symbolic sum of €1 ($1.10). It is to raise €7bn in capital to help absorb Popular’s property-related losses.
Spain’s government, the European Commission and Santander all cheered the outcome as a model European response to a bank crisis. Shareholders and junior bondholders in Popular have been wiped out. Spanish ministers pointed out that taxpayers would not have to pay for a rescue of the sort arranged for Bankia, a giant savings bank nearing collapse, when Spain needed a banking bail-out in 2012. Ana Botín, Santander’s boss, declared the deal good for Spain, for Europe, for Popular’s 4.4m customers and for her shareholders. Santander’s market leadership in Spain and Portugal will be strengthened.
I have to say I am totally gob smacked with HiC's posts and comments on all this.He doesn't vote in ANY election, he didn't vote in the referendum, he has publicly stated his son will have to learn with the error of his ways, he has no desire to ever return to the UK, he has no assets, no home no nothing in the UK except of course the constant whooping about the 17.4 million idiots who voted to leave his beloved EU, he revels in the fact that the pound (an extremely strong currency) is suffering a bit because of the machinations of politicians and currency speculators, he loves to preach that the UK will become a 3rd world basket case any day now due to the idiocy of 17.4 million people and on and on and on.
My feeling is....you did not vote...you did not vote.....you did not vote...you therefor have no say in what happens in the United Kingdom. Yet I bet if it goes the way you say it will, ie no trade agreements thereby making UK products unable to be sold in the EU, but of course that will go both ways, will be cock a hoop and bray I told you so from the rooftops.
I voted in the general election and am happy to say Corbyn did not win. May did not win either but she has a (feeble...just in case you harp on about that) majority and is now a fully elected Prime Minister. if she is fired or has to resign so be it. But the UK will go ahead with Brexit and you of course will continue with your anti posts until the final day. And finally I really do not think that HiC's beloved EU will see anywhere NEAR the £50 billion he is quoting will cost us.
