More About Debt Crisis

Online parliamentary information office discussion: Let's be clear about this.  If any business or household concluded that its forecast for growth in revenues/income in the coming year was four times lower than it had originally thought and on which it had planned its forthcoming year's activities and costs, than that business or household would almost certainly be facing a crisis if not a catastrophe.

The point is that our complex societies in the developed world simply do not function at rates of economic growth much below 2.5%.  By 'do not function' I mean that they start to implode, rapidly. And yet, even now, there is not the slightest sense of urgency, still less emergency amongst our ruling political elites who are charged with leading us out of this increasingly intractable economic crisis.

Talk about wake up and smell the coffee, eh? When, I wonder?

Online parliamentary information office discussion: Please not another British dooms day prediction for the Euro zonePlease keep to real terms: the Euro zone without UK is still the largest single market of the world and the wealthiest one all together. It contains the most competitive industry of the world and is therefore the world champion in exports, especially strong with high quality products for wealthy customers. It is autonomous in its supply for food, regarding amount and the best quality of various foodstuffs like bread, cheese, vegetables, wine, olive oil and ham. Compare that with the own supply of food in UK or Norway! Its currency, the Euro, has been the most successful currency; even the Swiss Franken is fixed to it.  Compare the charts since 2000 with dollar and pound! It is for 100s Billions money of every kind the safest haven, the savers must even pay to store their money in some countries of the Euro zone.


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