Quote:
Originally Posted by Margaret Pilkington
Succesive British Goverrnments have not been keen to bail out failing companies, preferring to let them find a buyer...even if that buyer is from overseas(taking jobs out of the country)......and while there may be some places not suffering in the current financial crisis, they are the exception rather than the rule....certainly on this side of the pond.
Growth relies on sturdy market forces, and the market forces have been subdued for quite some time now........insecurity of the current situation in the Eurozone(to which you over there, seem to be immune) is not helping. There doesn't appear to be any kind of solution emerging....this despite all the meetings and summits organised by Merkel and Sarkozy......Britain is going to be asked to commit another 65 billion pounds to the IMF to shore up the Eurozone(and this won't be the last time we are asked I can assure you), when in all probability there is nothing to save the single currency........The government might have had some spare readies to put in, if the last lot(and I don't care what colour t heir coat was - I have no partisan feelings to any of the parties....they all wazz in the same pot) had not been so profligate in their spending.
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I agree that the Euro is heading the way of Esperanto: a decent idea that didn't work ... and the idea of putting in more cash? Never reinforce failure, as the legendary kraut, von Clausewitz observed. Or, as we say on this continent: "Always know when it's time to get out of Dodge."
Back in the 80s during tough economic times Canadian governments spent large. The debt increased, deficits went throught the roof, and many, our rowdy neighbours especially, saw us heading for third world status. They laughed at our economic policies. When the good times returned, we paid down our debt, all governments eliminated or radically reduced their deficits; and we were off and running. We even helped bail out GM in order to save manufacturing jobs, and survived the crisis. Suddenly, our economic policies are not a joke any more.
And is these new tough times: billions more for health care, increased pensions, and the government of Ontario is cutting fees for university students, because they realize that a well-educated population is essential for prosperity. Because our military seems to have been shoved into a more active role, we are spending $65 billion on new fighters from the US. Along with this purchase come jobs for the aerospace industry as some components will be manufactured in Canada. Repair and maintenance facilities will be established in Winnipeg and Montreal. $50 billion for new warships ... built in Canada. Another few billion for assorted fleet supply ships, ice breakers, and coast guard vessels ... built in Canada.
The present tory government is making some cuts, particularly in the civil service. They are, of course, building more jails so that our equivalent of Dail Mail readers will be happy. (Meanwhile, our crime rate is dropping rapidly
) But they realize that although they are in power, that power depends on the votes of those who, with little provocation, vote Liberal in the next election.
I suppose what I'm saying, in a very long-winded fashion, is that cuts by themselves will not solve your economic problems. And worrying about the money that New Labour so obviously peed away is not going to help either. Individuals wake up after a binge, looking at an empty wallet. Govts. do too.
And as an informed observer, it is my opinion that your problems will not be solved within the EU ... time to get out of Dodge.