Sunday 2 January 2011

We must become poor - so the Euro will survive

Let the people eat cake - as long as the bankers and politicians can play god with the Euro.


The euro has only a 20 per cent chance of survival

Friday December 31,2010
By Daily Express reporter Have your say(22)
THE euro has only a 20 per cent chance of survival, a leading think-tank warns today.

It is possible that the eurozone may not even survive next year according to the Centre for Economic and Business Research.

Chief executive Douglas McWilliams said the euro has an 80 per cent chance of failing in its present form in the next 10 years.

He said living standards would have to fall by about 15 per cent in the weaker economies and Government spending slashed if the single currency was to survive.

Mr McWilliams added: “There is no modern history of falling living standards in peacetime on the scale necessary to keep the euro in its current form.

“Indeed the scale of the cuts necessary was only just achieved in wartime. That is why I think there is at best a one-in-five chance the euro will survive as it is.”

The CEBR warned that the financial problems which have crippled Greece and Ireland will spread to other European countries mired in debt.

In a report released today, they say there could be another eurozone crisis in the spring – “if not before” – with Spain and Italy in the firing line.

Mr McWilliams argued that in order for the currency to survive as it is German growth needed to be sustained at more than three per cent for the next four years.

He added that living standards in Ireland, Greece, Spain, Portugal and Italy needed to be drastically cut and Government spending in those weaker countries would have to be reduced by 10 per cent of GDP.

He said there was an outside chance the euro could break up within the year, although this is unlikely because of the political will in France and Germany.


However he warned that even if the euro survived 2011 it will be the year the currency “weakens substantially” against the dollar.

The report adds weight to the Daily Express crusade for Britain to pull out of the EU altogether.

A deepening of the eurozone debt crisis would hit the UK hard because it exports heavily to the Continent. And taxpayers could be asked to contribute even more cash to struggling countries than the £7billion already pledged towards the bail-out of Ireland.

The report also offered a sombre outlook for Britain, warning that a double-dip recession is “well within the bounds of possibility for the UK” as austerity measures take their toll in 2011.

The stark report comes a day after credit ratings agency Moody’s branded the eurozone the “weakest link” in the global economy.

It said the most vulnerable countries using the euro will be forced to default on debts, despite austere spending cuts.

Moody’s experts said: “Europe remains the weak link, not just because of its sovereign debt crisis but also because even its fiscally stronger states – France, Germany and the UK – are tightening fiscal policy.

“With growth still low this could push the region’s more vulnerable economies into recession.”

Yesterday, the Institute for Public Policy Research also warned that problems within the eurozone would lead to a flood of EU migrants coming into Britain.

Read more:

The euro stands just a one in five chance of surviving in its current form for ten years, according to the Centre for Economics and Business Research.

As public anger grew over bailouts to Greece and Ireland, several senior European politicians openly questioned the euro's future. Photo: Getty
By Harry Wilson 6:15AM GMT 01 Jan 2011 331 Comments

In its annual list of predictions, the CEBR said a new eurozone crisis was its number one forecast for 2011, citing the hundreds of billions of euros of debt that members must replace this year.

"If the euro doesn't break up, this could be the year when it weakens substantially towards parity with the dollar," said Douglas Williams, chief executive of CEBR.

Spain and Italy alone must refinance more than €400bn (£343bn) of debt in the first half of the year, which could prove impossible given investor fears over the finances of southern European countries.

"The euro might break up at this point, though European politicians are normally able to respond to a crisis and I suspect that what will break up the euro will be the failure of most of the countries to take the tough medicine necessary to make their economies competitive over the longer term," said Mr Douglas.

Mr Douglas added that he was not ruling out another round of government quantitative easing to support the credit markets and prevent a crisis.

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Speculation over the future of the euro reached new heights last year as what been a purely theoretical question became very real during the repeated crises that hit the eurozone in 2010.

As public anger grew over bailouts to Greece and Ireland, several senior European politicians openly questioned the currency's future.

Investors too have become increasingly sceptical, though few predict its imminent demise.

F&C said last month that while the European Union may not continue for much longer in its present form, it was highly unlikley that the euro could be killed off.

"We believe the events of this year will force the EU to introduce tighter controls and greater convergence of fiscal policies," said Rebecca Seabrook, a bond fund manager at F&C.

Japan could also face its own crisis, according to the CEBR, with the possibility of a serious economic crisis in the world's third largest economy rated its fourth most likely prediction.

Debt now equals 200pc of Japanese GDP, but up until now this has largely been financed domestically from the country's vast savings base.

However, the continued growth in Japanese debt means more foriegn financing will be required, according to the CEBR, which could create the conditions for a crisis.

"It is likely that the government will have to embark on fiscal retrenchment. Meanwhile, growth in the Asian export markets will slow and the ageing population will force the government to raise the retirement age again, this time to 75," said Mr McWilliams.

Other CEBR forecasts include predictions of increased lending from UK banks, falling consumer spending, and lower than expected inflation.

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Anonymous said...

Well the "British" people voted overwhelmingly for the lib/lab/con trick so let them suffer the consequences.

Difficult to feel any sympathy for the British now, they're such a cowered and subservient people who let the ruling elite shaft them at every opportunity.

If only British nationalism wasn't such a joke right now then maybe an angry roar of opposition could be raised.



extant said...

For the record.

I have been a Nationalist and BNP activist for over 5 years and what never fails to deeply sadden me is the lack of Passion and optimism within our ranks, from the bottom to the very top.

After watching the first videos I posted of Hitler recently, our trappings of failure became abundantly clear. The only reason only the very few ever managed to captivate the masses was through an amazing and undeniable gift of exerting their true passion and feelings through an intense display of body language.

This spectacular display of self righteousness and passion are driven from deep within ones psych and comes from many years of frustration with injustice to fight for the very opposite. Justice. ! A personal sense of true conviction and self motivated pride that aspires from just that.

The people can see it, they don't need to hear it !

That true master shakes off the developed and perceived insecurities , they are unimportant, nothing matters more than his personal beliefs and goal he has set himself.

It is not a Job to him, he never needs to clock off, wait's for the moment to rest, nor the time for sleep; it is all or nothing "The true will to succeed"

You must believe in your self, it is absolutely crucial !

It was not Hitler as an individual who I particularly found inspirational, it was his' what some would believe to be borderline insanity. But in reality he was the very few with the natural gift to publicly display his "aspiration" through every nerve ending ,Latin for ( to breathe upon )...

To be transparent without fear of failure , without personal insult or insecurity, he breathed on the masses through an electrifying performance and natural display of raw human emotion.

This is what we need to encourage, nothing less.

He could have been saying anything, it did not matter !

extant said...



GA, aka Joseph Bielschowsky ,Paul Moron Morris,The World doesn't care !

Here below is a clear Olive branch I sent the "JEW HATING ZIONIST" above, read his reply, it showes what he really is.

So if any of you like myself are part JEWISH and 100% British, for God sake keep away from Anti Semite above-

Sent: Monday, January 03, 2011 2:49 PM
Subject: Paul


You are part of a movement that I will always be part of, to continue any feud is ridiculous,counterproductive, will create future and further discomfort for the both of us, but as per usual you can see that I will not allow any issue of so called pride above what I believe in

You know how this started again, for the following reasons


You used my voice to attack people without my consent again

b. You allowed a form of direct bullying against me on your site that was public.

An eye for an eye !

I have purchased to deliberately to use and ad-google if I see a fellow Nationalist attacked by you ever again.
I wont hold off for your sake next time, I will go full throttle and it will remain to the top of Google above your site to stop you ever doing it again.

Your site will be replicated ..

The choice is your's to carry this on further, I do not hold grudges and only act on provocation, at the time I am upset or bullied !

This is clearly an issue that seems to have upset you much more than me, but don't let it upset anyone or either of us again.


Regards Tim

ps excellent articles on Zionism that needed to be put out.

Sent: 03/01/2011 15:14:05 GMT Standard Time
Subj: Re: Paul

Bring it on. You are a foul mouthed liar and come the right time I intend to expose you to the world.

I will ensure that no decent nationalist has anything to do with you.

You as you said yourself are not really british being part Jewish.


So you now know what a real Hater Morris really is..


extant said...

As Im sure you would all have to agree, Paul Zionist Morris is is real threat to us all.

In his sick twisted bitter Sychophant mind, we are all fair game and will remain just that whilst he remains to have Party support !

Adrian Peirson said...

At the most level,The way you control people is by making them poor and dependent and through the use of food and water as weapons.
That is what is happening to our nation and people.

Anonymous said...

Lee, what's your take on the continuing reports of thousands of dead fish and birds all over the USA? Do you think that this is somehow related to the BP oil spill?

Anonymous said...

Bit of a legal query for you here Lee...

Why do so many lawyers love defending scum(murdering immigrants/perverts wanting to change sex etc.) using article 8 of the ECHR - 'the right to family life'

Yet won't lift a finger to enforce article 4 which this and the previous government are clearly in breach of!

Twice over the past 2 years I have been forced off benefits because I refuse to partake in demeaning underpaid sub-NMW work placements.

If you do not co-operate with the conscript work programme you lose your benefit entitlement for 26 weeks!

I took the easy option of signing off in order to sign back on as a new claim after 13 weeks have elapsed.

Please could you research article 4 and explain to me why I have no rights when it comes to the ECHR yet scum who have never paid a penny into this country has!

Adrian P said...

Bee numbers reduced, now Birds and Fish dropping like flies all over the place, how many in remote areas we don't know about.
Is this an attack on food supplies.

Stock up anyway.

Adrian Peirson said...

They want us poor and unhealthy, this is why they have us scared of the Sun and tell us we only need 200iu of Vit D3 a day, this stuff could empty half our hospitals and make half our Doctors redundant.

Vit D3

Rijker said...

"So 2011 is the year of the “beneficial crisis”, when the EU will try to exploit short-term economic hardship in order to eliminate the powers of national governments and to create a new pan-European political structure. If it succeeds, it may go on to become a great world power. If it fails, it will start to revert to a collection of nation states."

Cameron: "Let Them Eat Debt"