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High ranking Labour MP say eurozone 'ticking time bomb'

PrestonAlPrestonAl Posts: 10,342
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in Politics #1
I believe she is right. The Eurozone is just waiting to collapse, especially with the med countries being such basket cases.



http://www.bbc.co.uk/news/uk-politics-36029860
The eurozone is a "ticking time bomb" that will harm the UK if it stays in the EU,

Gisela Stuart, said a "daunting fiscal and demographic crunch" will require tax rises of 18% across the euro area.
Her speech came ahead of the Electoral Commission announcing Vote Leave as the official Out campaign.
Backers of EU exit have been boosted by news that a group of Tory donors is considering giving them up to £5m.

Comments

  • EnnerjeeEnnerjee Posts: 5,131
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    #2
    I used to be relatively pro-EU.

    Then, in 1996, I met a man who worked in Brussels (bilingual English/French) who told me that the proposed single currency would be "a disaster".

    Since the introduction of the €uro I've gradually become a Eurosceptic and am now firmly and stubbornly campaigning to LEAVE the EU on the grounds of loss of sovereignty, loss of democracy and loss of border control.

    The EU is determined to to implement all three as well as compulsory conversion to the €uro.

    The road of enlightenment is a wonderful journey with nirvana as the ultimate goal. I look forward to reaching it on 24th June.
  • sangrealsangreal Posts: 20,901
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    #3
    For the record, Gisela Stuart is no more high-ranking than any other Labour MP.

    She is one of only 7 Labour MPs on the leave side:
    Labour 'overwhelmingly' in favour of keeping Britain in EU

    As for her personal judgement.....
    https://en.wikipedia.org/wiki/Gisela_Stuart#Support_for_George_W._Bush.27s_re-election
    In October 2004, she became the only Labour MP who openly supported the re-election of George W. Bush in that year's US presidential election

    :eek:



    All that said and done, yes the Eurozone is undeniably on shaky ground, but so is most of the rest of the world economy, including GBP Sterling. The collapse of the Euro would undoubtedly have a seriously catastrophic effect on the entire global economy, regardless of whether the UK is in or out of the EU... so be careful what you wish for....
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