Will the BofE reduce interest rates to 0.25% today ?

[yxee]

I don't mind him being irrelevant to the Eurozone problems if it means we don't have to spend billions propping up Greece.

 

[Storer 68]

errr ... it's not real money at all. It's paper.

Printing banknotes for fun isn't any sort of solution.

As of Q3 2011 the national debt amounted to £1,278.2 billion, or 85.2% of total GDP

 

[Falkor]

No Change

 

[CorgiRegisteredFriend]

From what I can gather the government are going to blame the next set of negative growth figures on the extra bank holiday. When they do we all need to remind them that this is a leap year and we in fact had an extra day of business on 29th Feb. This gain I would like to suggest would balance out any loss made on Jubilee Tuesday. Anyway- think we all need to cheer ourselves up- take a look out the window and enjoy this Sunny June day.

 

[CorgiRegisteredFriend]

No Change

Will probably be this low for another two years +

 

[Tubby Mondays]

From what I can gather the government are going to blame the next set of negative growth figures on the extra bank holiday. When they do we all need to remind them that this is a leap year and we in fact had an extra day of business on 29th Feb. This gain I would like to suggest would balance out any loss made on Jubilee Tuesday. Anyway- think we all need to cheer ourselves up- take a look out the window and enjoy this Sunny June day.

Of course they will. They have previous in the respect; the royal wedding last year and the snow last year. Prince Phillip having ball or cock ache or whatever it is will probably be given as a factor as well.

 

[cunning fergus]

It might not be a bad idea. The eurozone is the biggest issue we face and the idiot Cameron has boxed himself into a corner where no one will now listen to him. Does he really think they will listen to him and sort the crisis to his timeline and to suit us generally? Why would they? For all his veto bluster he has been politically outmanoeuvred. The man is naive.

I may have missed a meeting, but why would joining the Euro now be a good idea?

I am no fan of Cameron, but he was always in a corner because the UK is not part of the eurozone. Do you honestly think it would be any different with any other UK politician? Why would they listen to anyone on the outside of the eurozone........Merkel is equally mugging off Obama at the moment?

As for his veto, the fact is that had he accepted the fiscal pact proposal last year it would have triggered a referendum in the UK. This is the problem for the UK's political class. They all want to be close to the EU but they equally know they cannot take the electorate with them. Far from being niave it was a completely cynical move, which was supported by Clegg and sold to the UK as Cameron being strong. If he was a genuine euro sceptic he would have said bring on the referendum.................but he didnt.

This is a dynamic that all the countries in the eurozone are going to have to deal with too if they want to solve the crisis, and its not looking good. the position is not helped by the EU's recent attitude when dealing with the voice of the people (see France 2005).

Even the most niave know that the answer to the Euro conflagration is simple, total integration. It works out on all the spreadsheets, and the markets love it, the trouble is the people don't seem to want it.

If you think joining into the euro maelstrom now and surrendering our ability to devalue our currency is a good step route you're the one being woefully naive.

 

[CorgiRegisteredFriend]

Of course they will. They have previous in the respect; the royal wedding last year and the snow last year. Prince Phillip having ball or cock ache or whatever it is will probably be given as a factor as well.

I would love to see Osborne blaming a continued and deepening recession on a bladder infection. I can honestly see it happening

 

[beorhthelm]

For all his veto bluster he has been politically outmanoeuvred. The man is naive.

would that be the veto'd policy that the Greek have rejected, the new french president wants to reneogitate, the Germans are challenging in their courts? are you saying he shouldnt have veto'd us bailing out Eurozone countries because it was obvious that it wouldnt be passed by other member states, or that we should just happily have promised our money bail out the eurozone nations regardless?

 

[Lord Bracknell]

I hope interest rates go that low, I'll only pay 1% on my mortgage.

The banking crisis started with financial institutions lending money to people who couldn't pay it back. It's now developed into lending money that, even if it is paid back, delivers no return to the the lender.

Congratulate yourself on the good deal that you've got. But your lender isn't doing well. Should we be worried?

 

[cunning fergus]

The banking crisis started with financial institutions lending money to people who couldn't pay it back. It's now developed into lending money that, even if it is paid back, delivers no return to the the lender.


Absolutely right, BUT the financial institutions were allowed to get away with it. We now know that (by way of examples) Bradford & Bingley had a 60% self certified mortgage book and Nothern Rock were offering 125% mortgages.

The regulation of the financial servies industry was a disgrace during this time as all of the risks would have been known to the FSA and the Treasury.

The reason nothing happened was because the money was pouring in to the tax coffers and growth was good (it ended boom and bust dont you know). The Government didnt want to kill the golden goose of the City and they kept the regulatory framework loose. The Treasury and FSA knew that RBS hadn't completed full due diligence on the ABN AMRO deal........but backed down when Goodwin got in touch with the FSA.

Gordon Brown congratulated himself on the UK's light touch regulatory framework at his Mansion House speech in 2007, when the Bankers were great.

Ed Balls fessed up to the regulatory shortcomings that the Government were responsible for in his strangely under-publicised apology that he made in Parliament last September.

Both these fuckers are as guilty as the bankers...............its an insult to the electorate that Balls is shadow chancellor...............years ago he would have just resigned.