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The Pound takes a hammering ..... again!

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Re: The Pound takes a hammering ..... again!

Postby Paphitis » Sat Nov 05, 2016 3:12 am

repulsewarrior wrote:
Lordo wrote:
miltiades wrote:Greece's economic problems had nothing to do with the EU any more that Cyprus' economy.

Down to corruption, nepotism and greed.

there is all the above plus an unbalanced economy and reluctance by rich people to pay their taxes.


...a 'like' button i would have selected, (again).


But also an unrealistic expectation to expect people to pay their taxes with glee.

You know, Rich People only make up about the top 1% of the tax pyramid. They are not the biggest tax contributors when you take the entire pyramid into account.

Of course they are going to try and reduce their tax, just like the entire middle tier does as well.

rich people are generally not stupid. And as soon as you tighten the loopholes, the rich just take their money and flee leaving everyone in the lurch. money transfers can be executed in a split second these days.

so Governments have to walk a tight rope. You want to tax the rich, but you have to be internationally competitive, because if Singapore only charges a tax rate of 10%, all the money will just flow towards them.

Even big corporations like Apple have shelf companies based in Singapore.
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Re: The Pound takes a hammering ..... again!

Postby miltiades » Sat Nov 05, 2016 7:10 am

Paphitis wrote:
miltiades wrote:Greece's economic problems had nothing to do with the EU any more that Cyprus' economy.

Down to corruption, nepotism and greed.


That's fd@king nonsense!

yes Greece is bloody corrupt but it isn't the most corrupt country in Europe either. And corruption never causes an economic collapse that I know of.

it is however something that can be conveniently addressed by Government.

The UK is not immune to facing the same fate as Greece one day. look at your debt! if and when it happens, then you better hope to be out of the EU for your own sake.

In fact Britain is the luckiest country in the EU, so they might be ok.

It may surprise you to find out that you are the only one that disagrees with the fundamentals that led to Greece's economic demise.
Incidentally, the drachma was being devalued year after year for almost 100 years.
" Corruption severely affects Greece's business environment, completely distorting market competitiveness. A common form of corruption in Greece is known as 'fakelaki', translating to small envelopes and signifying bribes passed on to officials or other recipients to obtain some form of benefit. Greece’s Penal Code criminalises several forms of bribery, including passive and active bribery, abuse of office and money laundering, yet ineffective implementation of existing laws has exacerbated corruption in both the higher and lower echelons of government. The tax administration and public procurement are identified as the sectors most affected by corruption. Gifts, bribery and facilitation payments are widespread despite existing provisions that criminalise these acts"

You do of course accept that the majority of the Greek people want to retain the euro as their currency.
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Re: The Pound takes a hammering ..... again!

Postby Paphitis » Sat Nov 05, 2016 8:43 am

miltiades wrote:
Paphitis wrote:
miltiades wrote:Greece's economic problems had nothing to do with the EU any more that Cyprus' economy.

Down to corruption, nepotism and greed.


That's fd@king nonsense!

yes Greece is bloody corrupt but it isn't the most corrupt country in Europe either. And corruption never causes an economic collapse that I know of.

it is however something that can be conveniently addressed by Government.

The UK is not immune to facing the same fate as Greece one day. look at your debt! if and when it happens, then you better hope to be out of the EU for your own sake.

In fact Britain is the luckiest country in the EU, so they might be ok.

It may surprise you to find out that you are the only one that disagrees with the fundamentals that led to Greece's economic demise.
Incidentally, the drachma was being devalued year after year for almost 100 years.
" Corruption severely affects Greece's business environment, completely distorting market competitiveness. A common form of corruption in Greece is known as 'fakelaki', translating to small envelopes and signifying bribes passed on to officials or other recipients to obtain some form of benefit. Greece’s Penal Code criminalises several forms of bribery, including passive and active bribery, abuse of office and money laundering, yet ineffective implementation of existing laws has exacerbated corruption in both the higher and lower echelons of government. The tax administration and public procurement are identified as the sectors most affected by corruption. Gifts, bribery and facilitation payments are widespread despite existing provisions that criminalise these acts"

You do of course accept that the majority of the Greek people want to retain the euro as their currency.


You're a very silly man!

It's precisely the reason WHY Greece would have been able to cope better with the Drachma, by deflating its currency, printing money, and likewise deflate its debt in Drachmas! Deflating the value of your debt uis not an issue provided inflation stays below 5% and wages keep up with it.

In addition, your conclusions that Greece went down because of corruption and nepotism are extremely erroneous when you do not take into consideration the technical aspects of Greece being handed a dog currency for its economy which would not allow them to deflate their currency!
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Re: The Pound takes a hammering ..... again!

Postby Londonrake » Sat Nov 05, 2016 9:01 am

Paphitis wrote:
Londonrake wrote:
miltiades wrote:It looks as though May will have a difficult time ahead although she displays the arrogance that she does. We have a parliament and the parliament has a role to play, and it will.


I don't see her as arrogant. She's playing the cards she's been dealt.

Yes, we have a parliament. But the House did something extremely rare in U.K. Politics. They voted 6 to 1 (544) to throw a matter open to the entire national electorate. Should Britain remain a member of the EU: Yes or No? In doing so they effectively relinquished their right to subsequently decide upon the outcome and certainly shouldn't have any truck with attempts to play silly games because some, who feel that they know best, didn't get the "right" answer. Now, that's arrogance for you.

Yes, Parliament had their role, they asked us what we wanted. We voted for leaving the EU. They are there to implement the will of the people (aka democracy). So just bloody well get on with delivering it. If they don't (and personally I'm of the certain belief that they know this) there will be Hell to pay.


I agree with this 100%


Oh dear! :shock: .............. That's me in big trouble. :lol: :lol: :lol: :wink:
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Re: The Pound takes a hammering ..... again!

Postby Paphitis » Sat Nov 05, 2016 9:13 am

Londonrake wrote:
Paphitis wrote:
Londonrake wrote:
miltiades wrote:It looks as though May will have a difficult time ahead although she displays the arrogance that she does. We have a parliament and the parliament has a role to play, and it will.


I don't see her as arrogant. She's playing the cards she's been dealt.

Yes, we have a parliament. But the House did something extremely rare in U.K. Politics. They voted 6 to 1 (544) to throw a matter open to the entire national electorate. Should Britain remain a member of the EU: Yes or No? In doing so they effectively relinquished their right to subsequently decide upon the outcome and certainly shouldn't have any truck with attempts to play silly games because some, who feel that they know best, didn't get the "right" answer. Now, that's arrogance for you.

Yes, Parliament had their role, they asked us what we wanted. We voted for leaving the EU. They are there to implement the will of the people (aka democracy). So just bloody well get on with delivering it. If they don't (and personally I'm of the certain belief that they know this) there will be Hell to pay.


I agree with this 100%


Oh dear! :shock: .............. That's me in big trouble. :lol: :lol: :lol: :wink:


Kiss of death! :lol:
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