Go Back   English Forum Switzerland > Off-Topic > Off-Topic > International affairs/politics  
Reply
 
Thread Tools Display Modes
  #21  
Old 08.04.2011, 08:02
Forum Veteran
 
Join Date: Jul 2007
Location: Lausanne
Posts: 582
Groaned at 7 Times in 4 Posts
Thanked 231 Times in 147 Posts
naza is considered knowledgeablenaza is considered knowledgeablenaza is considered knowledgeable
Re: Portugal calls for EU financial bail-out

Quote:
View Post
Funny how Italy always avoids being mentioned; their key financial numbers do not look so bad - I have no clue how they achieve that?
one word: berlusconni
Reply With Quote
  #22  
Old 08.04.2011, 10:14
mabern's Avatar
Forum Veteran
 
Join Date: Sep 2007
Location: V.South West of Zurich
Posts: 1,193
Groaned at 7 Times in 6 Posts
Thanked 417 Times in 285 Posts
mabern has an excellent reputationmabern has an excellent reputationmabern has an excellent reputationmabern has an excellent reputation
Re: Portugal calls for EU financial bail-out

I don't think the EU, or the euro was designed as a yacht club for the rich or powerful only. It had something to do with stability, union, growth, development... Difficult but even the jet set can fall on tough times.
Reply With Quote
This user would like to thank mabern for this useful post:
  #23  
Old 08.04.2011, 10:37
Sparrowgirl's Avatar
Member
 
Join Date: Jan 2010
Location: Basel
Posts: 143
Groaned at 0 Times in 0 Posts
Thanked 93 Times in 52 Posts
Sparrowgirl has an excellent reputationSparrowgirl has an excellent reputationSparrowgirl has an excellent reputationSparrowgirl has an excellent reputation
Re: Portugal calls for EU financial bail-out

Dear Porche,


I have no idea of what this will do to the CHF/EURO exchange rate but I know since a child what kind of help IMF brings to a country when it brings help borrowing more money which will have indeed to be payed back with interest rates later: jobs are lost, companies are shut down and national companies are privatized to be destroyed few months later.

I think that for any Irish, Spanish, Greek or Portuguese who has lost its job, its house, many times its family and its future all that is said about getting help paying it later makes few sense.

Severe cuts in education, health and social security have been done since Socrates arrived as prime minister. But the markets where nervous and the interest rates on our debt grew.

There is no more middle class in our country anymore because in many homes a father or a mother lost its job and the salaries that still existed were to low, alarming poverty has risen but again the markets where nervous and the interest rates on our debt grew.

Taxes where risen and pensions and salaries where cut but the markets where always nervous and our debt grew.

The parliament refused the fourth package of severe cuts because the biggest opposition party is once again greedy for power and trying to buy the whole country with change but in fact we only hope the worst to come. The prime minister resigned and the opposition promises stronger cuts now, but the markets got even more nervous... the most influential private Portuguese banks which where helped during the financial crisis in 2009 by our state refused to help the country...so we asked for a bailout.

I may not know much about economy but something is for sure: all that you get you have to pay it back, maybe if we had renegotiated our debt perhaps there would not be a need for a bailout, I do not know about money but I know that the press, powerful financial institutions and the markets can bring countries down and that is not a joke:it is a tragedy.
__________________
Was it worth? Everything is worth, If the soul is not small. Fernando Pessoa (1888-1935)
Reply With Quote
This user would like to thank Sparrowgirl for this useful post:
  #24  
Old 08.04.2011, 11:11
Lejoker's Avatar
Forum Veteran
 
Join Date: Dec 2010
Location: Lausanne
Posts: 576
Groaned at 20 Times in 12 Posts
Thanked 285 Times in 181 Posts
Lejoker has no particular reputation at present
Re: Portugal calls for EU financial bail-out

Quote:
View Post

There is no more middle class in our country anymore because in many homes a father or a mother lost its job and the salaries that still existed were to low, alarming poverty has risen but again the markets where nervous and the interest rates on our debt grew.

Taxes where risen and pensions and salaries where cut but the markets where always nervous and our debt grew.
Sparrowgirl,
If I were a Portuguese leader, here what I would do: I'd tell all Portuguese citizens who are suffering and burdened with high taxes to flood the EU labor markets and stuff themselves in those highly industrialized nations (Germany CH NL ). Once your fellow non-peripheral states get the pinch, I'm sure that they'll start sympathizing with you & rethink their strategy...maybe even stop calling you 'peripheral'.

Btw, bailouts come with an % rate, they're not free! they'll hammer the Portuguese for a very long time to come.
Reply With Quote
  #25  
Old 08.04.2011, 19:16
Sparrowgirl's Avatar
Member
 
Join Date: Jan 2010
Location: Basel
Posts: 143
Groaned at 0 Times in 0 Posts
Thanked 93 Times in 52 Posts
Sparrowgirl has an excellent reputationSparrowgirl has an excellent reputationSparrowgirl has an excellent reputationSparrowgirl has an excellent reputation
Re: Portugal calls for EU financial bail-out

Quote:
View Post

Btw, bailouts come with an % rate, they're not free! they'll hammer the Portuguese for a very long time to come.
That is exactly what I said, we know it already, painfully.
Reply With Quote
  #26  
Old 13.04.2011, 17:03
Sparrowgirl's Avatar
Member
 
Join Date: Jan 2010
Location: Basel
Posts: 143
Groaned at 0 Times in 0 Posts
Thanked 93 Times in 52 Posts
Sparrowgirl has an excellent reputationSparrowgirl has an excellent reputationSparrowgirl has an excellent reputationSparrowgirl has an excellent reputation
Re: Portugal calls for EU financial bail-out

The best article written about what really happened is here:

http://www.nytimes.com/2011/04/13/op...13fishman.html

hope it helps. I believe the last part of it is quite explicit: nobody is safe anymore.
Reply With Quote
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Cold Calls from 'Financial Advisors' SpeedyF Finance/banking/taxation 22 24.01.2012 17:43
Irish bail out Ittigen Jokes/funnies 3 14.12.2010 00:28
Polanski gets bail, but will stay under house arrest Guest Swiss politics/news 27 27.11.2009 12:40
No God Bail Out on Environment Mikers International affairs/politics 205 17.04.2009 11:13
Mozzarella makers cheesed off at parmesan bail-out jrspet International affairs/politics 7 20.12.2008 20:40


All times are GMT +2. The time now is 21:03.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2022, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0