Portugal requests EU bailout. - Polidicks

[QUOTE=GunFox;29025013]Exactly. If he wants to generalize my country, I'll do exactly the same to his.[/QUOTE] Generally that's not how you express superior maturity but okay

[QUOTE=gopeal;29027161]someone explain to me why the EU has to bail them? can't the EU like, kick them out of the EU? portugal is a burden on the EU[/QUOTE] Most of the countries in the EU are a burden to the EU.

[QUOTE=KillerPopcorn;29024524]Well, fuck... [editline]6th April 2011[/editline] We don't do that over here.[/QUOTE] The government did.

[QUOTE=Ridge;29027403]Most of the countries in the EU are a burden to the EU.[/QUOTE] Yeah. From what I understand of the way the EU functions (not a lot, admittedly), Germany has sort of been the backbone of the EU for a long time now and are starting to resent it.

I'm pretty convinced that the EU is going to go kaput now. Collapse after collapse, bailout after bailout. I have trouble seeing it stand for much longer.

Yep, EU's gonna go down sadly. The bigger countries will start getting fed up of giving so much money to get the smaller countries out of shit so they'll probably just leave, and with them out the EU will collapse.

[QUOTE=Sobotnik;29025321]Where the hell did the bailout money come from is everyone is in debt?[/QUOTE] High-interest loans. :dance:

[QUOTE=mrpirate;29022822]I can't take it seriosly anymore. Not saying we shouldn't help them. But soon it's every country that gets a bailout. I expect the euro zone to collapse soon if we continue with this sadly.[/QUOTE] At least the US Dollar and Euro might be equal on the world market again.

Fucking PIGs

Well, it's not so much a bailout. We will be (hopefully) repaying it, it's more of a loan. This is going to hurt.

if anyone here knows anything about economics you would know that its impossible for every country not to eventually go into massive debt.

[QUOTE=gopeal;29027161]someone explain to me why the EU has to bail them? can't the EU like, kick them out of the EU? portugal is a burden on the EU[/QUOTE] Each country contributes to the EU financially. Just because countries like Greece and Ireland have been "bailed out" (and now Portugal too), doesn't mean that they are a permanent liability. I don't know the exact details of Greece's problems, but for Ireland, we are a very developed country, with an excellent infrastructue, low corporation tax and we just left the biggest economic boom we have ever experienced. The reason we needed money from the EU and IMF is because our banks acted recklessly during the boom years. The bailout for Ireland, was actually primarily to cover the banks. Every single person in the state (man, woman and child), now has contributed over 14,000 Euro to bailing out the banks. The EU knows that in the long term, it is better to save the peripheral countries of the EU, rather than "kicking them out". Over the next 5 to 10 years, Ireland will pay back the bailout and more (interest rate). Once the country is back on track, Ireland will once again contribute to the EU financially as before. I'm sure it's the same case with Portugal and Greece. I don't think the EU is going to collapse. It might change the way it functions, but I don't think it will fall apart.

Portugal is completely fucked up right now. Our lifestyle changed little though. Tourism is the backbone of the region I'm at, and I hope this shit doesn't ruin it.

[QUOTE=GunFox;29024795]Whenever you post, I brace for more arrogant British bullshit. Shut the fuck up. Yeah we have a lot of right wing idiots, but it sure as hell is better than living in a nation filled with arrogant assholes.[/QUOTE] What. Where did I say all Americans were right wing or uneducated. I specifically said uneducated right wing americans, as in Americans who are both right wing and uneducated. No wait, misinterpret it as an attack on your entire country, please. It's just us crazy arrogant brits twirling our bad teeth, tea bags and moustaches!! [editline]7th April 2011[/editline] [QUOTE=Detective P;29027879]I'm pretty convinced that the EU is going to go kaput now. Collapse after collapse, bailout after bailout. I have trouble seeing it stand for much longer.[/QUOTE] It was more this kind of post I was waiting for. The EU isn't going to go "kaput". It has as much chance as your entire country going kaput.

The IMF is going start taking measures in Portugal, such as cutting state worker's salaries, raising taxes, cutting on welfare, etc, which will make things even harder for the lower classes.

[QUOTE=Sobotnik;29025321]Where the hell did the bailout money come from is everyone is in debt?[/QUOTE] magic [editline]7th April 2011[/editline] or as the romans used to say "fiat"