What do you think will happen to the European Union?

I

Inconceivable

Formerly Chiraami
Member
So far, it's been ok. But with the recession, the Euro's value is lowering and there are plenty of arguments going on.

Apparently Romania are secretly taking over Europe in the background, but you shouldn't listen to that.

What do you think will happen in the European Union over the next decade or so?
 
Wait, Europe is in/going to be in the recession? Because I thought that Europe had a great economy and everything.
 
Wow, here I was thinking that those countries were going to have to bail us (USA) out. Well this is bad. All the countries in the world are going into recessions except China (who makes everything in the world).
 
Asia is alright. Europe ha been in the recession do nearly three years, and Irelad have just missed a narrow scrape. And at this rate, Greece will have to sell the cities next.
 
China, if they decided to call in their debt, would bankrupt America. So there you go.

The Euro was saved from a horrible fate by the bail-out of Ireland. If that hadn't happened, its value would have plummeted dramatically, affecting mostly the smaller countries using this one currency, for example Slovenia.
 
The U.K is in over £100 billion worth of debt. I think anyway. Ireland is in serious financial problems as well as Greece which is devaluating the euro...
 
I know but the problem is that by 2015, if the debt isn't paid off in the U.K., each household will be paying £3000 per year just to keep up with the interest. Or that's what I heard...
 
I don't like the concept of the Euro, and I don't think it will be good the way it's going.
 
Most have alot of debt and are in recession (similar to the USA), with alot of spending cuts. Greece went bankrupt and it looks like Ireland will as well.
 
The European Union might be in a recession (though I hardly see the effects), but it is not similar, to be honest, far from similar to the recession US. Yes, of course some countries have their debts here and there, but they do not have to pay billions of euros(/dollars) every month. The US is basically bankrupted, soon cannot pay their debts anymore. The European Union in the other hand includes some countries that are broken, but does better as a whole, an union, and is able to support eachother. Though I have to say that I'm not a big fan of that.
 
I know a bit about US politics and that you have 2 main parties, similar to the 2 main parties in England. What I don't understand, is with a big deficeit, why Oboma was elected? The party voted in to run our country are similar to the republicans, who are reducing public spending to avoid bankruptcy.
 
^Because people thought that ObAma would fix the economy( then there's the race debate...)
 
Azelf master, Germany is the one bailing the rest of europe out.

Also, to those of you who think we aren't getting it as bad in Europe,

Country Comparison :: Debt - external
This entry gives the total public and private debt owed to nonresidents repayable in internationally accepted currencies, goods, or services. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.


Rank country Debt - External Debt - Date of Information


1 United States - $ 13,450,000,000,000 - 30 June 2009

2 United Kingdom - $ 9,088,000,000,000 - 30 June 2009

3 Germany - $ 5,208,000,000,000 - 30 June 2009

4 France - $ 5,021,000,000,000 - 30 June 2009

5 Netherlands - $ 3,733,000,000,000 - 31 December 2009

6 Spain - $ 2,410,000,000,000 - 30 June 2009

7 Ireland - $ 2,287,000,000,000 - 30 September 2009

8 Japan - $ 2,132,000,000,000 - 30 June 2009

9 Luxembourg - $ 1,994,000,000,000 - 30 June 2009

10 Switzerland - $ 1,339,000,000,000 - 30 June 2009
Click to expand...

The UK is about the size of Oregon. Now, by size, which country is in the most debt?
 
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