Fu Piigs

Discussion in 'Economics' started by Locutus, Jan 25, 2011.

  1. Locutus


    France UK Portugal Italy Ireland Greece Spain.

    I don't understand what's different about France and Uk except that they're not considered to be lazy (like IGS) nor are they in as bad shape as I, but seriously, the debt and deficit differences between UK/France and Spain and Italy are really negligible. Italy is actually in pretty good shape compared to FU, imo budget-wise. Spain also has a huge unregistered economy, so unemployment is nowhere near as severe.

    Also, especially compared to UK, Spain has much more sense of social responsibility and poverty has less impact on social stability as those who are poor in Spain are not automatically shunned from society as much as in other countries. (Besides Spain was already poor not too long ago while a step back would be "unacceptable" for French and British people possibly leading to more steps back)

    The only reason not to have FU PIIGS is perception. The only countries that truely belong on that list are Greece and Ireland and it's because they have shitty government. The rest is all in the same boat bar public (market) perception.
  2. C6H12O6


  3. Locutus


    Well, Germany actually is better. More job creation and nice trade account surplus combined with fiscal prudence make it a much better place than the rest. The Netherlands too by the way.
  4. this must be the most disqualified post today. Dont worry you wont make it to the all-time top on this board.

  5. joe4422


    Germany is truly as bad, it just hasn't shown up in the numbers yet, but the people know it's there. Germany will suffer in the next great crash as well, and the EU has screwed them out of the safety net they had. The elite have one goal, to bring everyone to their knees, and don't believe that Germany isn't also in their sites.

    How many factory jobs were lost in Germany last year? If you don't know that answer, you don't have a right to scoff at some one for saying Germany could be next.
  6. If you don't know what kurzarbeit is, I am not sure you're qualified to ask this question.

    For your guide, German unemployment rate has gone from 8.1% in Jan10 to 7.5% in Dec10. The total change during in German employment during 2010 was a cumulative gain of 262,000 jobs. Of these there was a gain of 68,327 manufacturing jobs between Jan10 and Oct10 (that's the last datapoint available). So I am not entirely sure what your point is here.

    German isn't next and comparing Germany to Italy is rather silly. It's all about ULCs and REERs. You should know what these stand for.
  7. C6H12O6


  8. C6H12O6


  9. C6H12O6


    since I don't know if you felt offended by my comments about UK or Germany :D now here is something about UK: 155% debt/GDP ratio, much worse than the PIGS.

    So a big welcome, also, for the new British debt-to-GDP figures:
    and at the end of December 2010:
    • net debt of £2,322.7 billion including interventions, equivalent to 154.9 per cent of gross domestic product
  10. Tsing Tao

    Tsing Tao

    germany as a producer nation, isnt nearly as bad as the rest of europe. not even in the same league. however, as one-by-one the rest of europe fails, you'd have to be a food to think germany won't see any effect.

    the real problem, however, is the german banking exposure to the toxic debt of the rest of europe. that, in my humble opinion, is the only real reason mutti merkel has gone along with any bailout plan at this point.
    #10     Jan 25, 2011