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Southern european bailouts - Euro and EU are two separate things, although interconnected. The UK is not a part of the euro. I don't see how trade tariffs (whi

by dharma1 10y ago

Southern european bailouts - Euro and EU are two separate things, although interconnected. The UK is not a part of the euro. I don't see how trade tariffs (which the UK will now have to negotiate) will be a good thing for the UK.

dnautics 10y ago
you're right. the UK is not part of the Euro, but by continuing to be in the EU, they would have been shoehorned in, and it would have been more inevitable. >I don't see how trade tariffs (which the UK will now have to negotiate) will be a good thing for the UK. Just set up free trade zones. Unless the EU will be a bunch of un-self-intereseted dicks with a chip on their shoulder and for no other reason than spite exclude the UK from free trade networks.
- matthewmacleod 10y ago
  the UK is not part of the Euro, but by continuing to be in the EU, they would have been shoehorned in, and it would have been more inevitable. I see absolutely no evidence of that. There has been no indication, and recent EU negotiations indicate, that there was negligible chance of the UK ever joining the Euro.
  - dnautics 10y ago
    ultimately both of our claims are not falsifiable.
ZenoArrow 10y ago
> "The UK is not a part of the euro." Turns out that, with regards to the Southern European bailouts, that didn't matter. Even with a deal in place to protect against being part of bailouts, the UK was still asked to pay £850 million towards the last Greek bailout. https://www.theguardian.com/business/2015/jul/15/european-commission-proposes-using-uk-contributions-towards-greek-bailout https://www.theguardian.com/business/2015/jul/15/european-co...
- dharma1 10y ago
  The UK would have been protected against Euro bailouts in the future http://www.bbc.co.uk/news/uk-politics-eu-referendum-36456277 http://www.bbc.co.uk/news/uk-politics-eu-referendum-36456277
  - ZenoArrow 10y ago
    The UK already had such a deal before the last round of bailouts, didn't stop the EU from going back on their word... http://www.telegraph.co.uk/finance/economics/11737286/EU-demands-Britain-joins-Greek-rescue-fund.html http://www.telegraph.co.uk/finance/economics/11737286/EU-dem... "Britain will be liable for close to £1 billion of emergency loans to Greece, it can be revealed, after Jean-Claude Juncker tore up a “black and white” deal to protect UK taxpayers from Eurozone bailouts." "Britain pays around 14 per cent of the EU budget – meaning that lending Greece 8.6 billion euros would leave UK taxpayers exposed to the tune of around £850 million. The risk of default is high. Yet Mr Cameron secured a binding written agreement with his counterparts at a Brussels summit in December 2010, explicitly prohibiting such a deal. In exchange for British consent to treaty change to create the ESM, the text of the deal stated that the EFSM would not be used again to bailout Eurozone members."

by dharma1 10y ago

dnautics 10y ago

you're right. the UK is not part of the Euro, but by continuing to be in the EU, they would have been shoehorned in, and it would have been more inevitable. >I don't see how trade tariffs (which the UK will now have to negotiate) will be a good thing for the UK. Just set up free trade zones. Unless the EU will be a bunch of un-self-intereseted dicks with a chip on their shoulder and for no other reason than spite exclude the UK from free trade networks.

matthewmacleod 10y ago
the UK is not part of the Euro, but by continuing to be in the EU, they would have been shoehorned in, and it would have been more inevitable. I see absolutely no evidence of that. There has been no indication, and recent EU negotiations indicate, that there was negligible chance of the UK ever joining the Euro.
- dnautics 10y ago
  ultimately both of our claims are not falsifiable.

ZenoArrow 10y ago

> "The UK is not a part of the euro." Turns out that, with regards to the Southern European bailouts, that didn't matter. Even with a deal in place to protect against being part of bailouts, the UK was still asked to pay £850 million towards the last Greek bailout. https://www.theguardian.com/business/2015/jul/15/european-commission-proposes-using-uk-contributions-towards-greek-bailout https://www.theguardian.com/business/2015/jul/15/european-co...

dharma1 10y ago
The UK would have been protected against Euro bailouts in the future http://www.bbc.co.uk/news/uk-politics-eu-referendum-36456277 http://www.bbc.co.uk/news/uk-politics-eu-referendum-36456277
- ZenoArrow 10y ago
  The UK already had such a deal before the last round of bailouts, didn't stop the EU from going back on their word... http://www.telegraph.co.uk/finance/economics/11737286/EU-demands-Britain-joins-Greek-rescue-fund.html http://www.telegraph.co.uk/finance/economics/11737286/EU-dem... "Britain will be liable for close to £1 billion of emergency loans to Greece, it can be revealed, after Jean-Claude Juncker tore up a “black and white” deal to protect UK taxpayers from Eurozone bailouts." "Britain pays around 14 per cent of the EU budget – meaning that lending Greece 8.6 billion euros would leave UK taxpayers exposed to the tune of around £850 million. The risk of default is high. Yet Mr Cameron secured a binding written agreement with his counterparts at a Brussels summit in December 2010, explicitly prohibiting such a deal. In exchange for British consent to treaty change to create the ESM, the text of the deal stated that the EFSM would not be used again to bailout Eurozone members."