What do people here think about the imminent collapse of the Eurozone/EU?

[Orwellian]

Do you think Greece should try and stay in the Eurozone by accepting the austerity package imposed by the Troika or should they default?

Do you think the EU is ready to implode? Do you think the UK should leave Europe? Opinions please.

I don't think the UK should ever have had anything to do with the EU, and I thank God that we aren't in the Eurozone.

I think the greeks are between a rock and a hard place. At least whilst they are within the Eurozone they have certain protections as long as they abide by the rules. Outside the Eurozone, returning to a worthless drachma, I think their present problems would seem trivial by comparison. I don't think the EU is 'ready to implode'. I think there are going to be some shifts in policy but, in a world dominated by large trading groups - USA, China, Indian subcontinent - I think the leaders of all EU countries realise there is more potential operating together than going it alone. As most of our trade and employment opportunites are with our nearest neighbours, and since the introduction of trade/employment barriers would be a disaster, I don't think leaving Europe is a realistic options.

The thing is if the eUK was in good financial shape and this had happened the effect would have been minimal BUT as things stand we are going to be in big trouble if this happens as we have no buffer at all. Listening to moneybox the other day it seems if greece defaults and leaves the effect on teh uk will be as bad as the effect on germany!

Yep, if Greece leaves, we'll be badly affected. The fact we have our own currency means we have more tools at our disposal and we can put policies in place which suit us better than the Euro nations could.

Leaving the EU would just make things worse. The European nations are our largest export market and it's that loss/shrinkage of that which will affect us way more than if we are part of the EU club or not.

I don't think the UK should leave the EU but I think there needs to be a major examination of the role of the European Institutions they've gone way beyond their remit and are totally undemocratic and lack any form of transparency. I don't see how Greece can remain within the euro, the electorate will not elect a government that will enforce the proposed austerity package. On the other hand the Greek economy needs a huge injection of funds and they're unlikely to get it if they leave the euro. There's no solution to this problem.

MammaBrussels

I don't think the UK should leave the EU but I think there needs to be a major examination of the role of the European Institutions they've gone way beyond their remit and are totally undemocratic and lack any form of transparency.

They haven't gone beyond their remit because they were designed from the start to extend their powers. The lack of democracy and lack of transparency are deliberate and purposeful.

You'll have to decide whether you want the UK to be fully in the EU or fully out, because there's no halfway house.

I don't see how Greece can remain within the euro, the electorate will not elect a government that will enforce the proposed austerity package. On the other hand the Greek economy needs a huge injection of funds and they're unlikely to get it if they leave the euro. There's no solution to this problem.

Agree, there is no solution. What the EU is worried about, though, is if Greece goes, that means that Ireland and Portugal will go. They might be able to keep Spain and Italy in but might not.

The EU and the Eurozone are what happens when you start something with political intentions and try and use economics to justify it. The Eurozone was always a basket case of one size fits all (err no it doesn't) and the EU, which could have worked quite well as the EEC with no political "we must never have another European war" philosophy, is a bloated bureaucratic monster.

As to whether we should leave the EU? I don't know, probably too late now - we are in it up to our armpits.

Thank goodness we never went into the Eurozone. The backwash from their buggers' muddle on our economy is bad enough. Lord knows what deeper mess we would have been in had we been in it.

Is there any politician in the Eurozone who understands basic economics? Needle and haystack comes to mind.

Flatpack

Of course they have a remit! I was trying to keep my post simple and I wouldn't agree that they were designed to be lacking in transparency and accountability. I think that executive power should be placed more firmly in the hands of elected officials rather than eurocrats.

It seems they are talking and talking but deciding nothing. germany have been austere over the years and are in so much better financial shape than the others that the idea of guaranteeing countries who are seen as high risk via their good status is abhorrent to them. Eurobonds seem like the last cry of the desperate and i really don't think Merkel will go for it.

Except he is not in the Eurozone as he is British . I was referring to politicians in countries that are part of the Eurozone.

The European Parliament, like the House of Commons, is not sufficiently representative of the population. One way it can be changed is by allowing MPs to job share. Watch Caroline Lucas MP video on this -

Please write to your MP and ask them to supoprt change. The European issues need to fresh thinking before things get better.

Mario Monti was an Economist

Yes Monti is an economist - a technocrat who was invited to take over as president of Italy to try and get it out of its mess - so not an elected politician, which tends to underline my point that politicians are not the sharpest knives in the box when it comes to economics.

Unfortunately you are right. I remember watching a documentary about 18 months ago about the economic crisis and how much debt we were in. The programme makers interviewed politician after politician, none of whom knew even vaguely what our national debt was. More worryingly many of them were mixing up deficit with debt.

Our famous iron chancellor stood up and famously announced the end of boom & bust. Anyone with a basic understanding of free market economics knows that's just not possible. He may as well have stood up and declared the end of rain.

But right now we don't seem to have many people we can vote to put our trust in. It seems a case of the least worst choice.

Do you think Greece should try and stay in the Eurozone by accepting the austerity package imposed by the Troika or should they default?

They should default. The austerity package would need to last for generations before Greece could pay back its debts. That's simply unsustainable, so they need to default and return to the drachma.

Do you think the EU is ready to implode?

I sinecerely hope so but the lying corrupt politicians will find a way that permits it to limp on.

Do you think the UK should leave Europe?

Yes - immediately.

My Opinions