The EU should bail Greece out.
The PIGS (Portugal, Ireland/Italy, Greece and Spain) are increasingly gaining more attention as their deficits and debts become bigger and their economies freeze up. Greece is at the centre of the current crisis and may turn out to be the first domino to go. Plans have been submitted for slashing the deficit but they will face resistance and may not go far enough. Because all of these nations are in the Euro what happens to them affects the other memberstates. At the moment there is a dangerous lack of balance in the Eurozone economy between these PIGS and the more robust northern economies such as Germany. To save the Euro Greece may need to be bailed out, should Europe finance it?
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Yes The Euro was all about fidelity and unification
One Europe: and it is only fair that when one some parts of the organism(if you will) fail, then the other stronger parts band together to make it well again.
When an organ in the body is infected the entire body's defense system tries to make it better.
Britain will only feel left out as usual.
Britain does not feel like a part of the organism and is officially a part of Europe. The U.K should not have a stake in this.
if the U.K's neighbours lose out so does She/it
The market for British goods(exports) fails, many of Britain's imports are from these countries.
'No man is an Island' well no Country even an Island nation should alienate itself from all her neighbors; it is difficult enough for Britain to be an Island geographically stripped from the rest of Europe, former wars but the United Kingdom makes bonding/fraternity even more difficult by not involving herself in financial issues.
Britain is too exclusive and if she keeps this up ; she won't have any friends.
Tests if EU is sustainable
This is the first tangible threat thrust upon European Union ever since its birth as the Common Market. EU has been most cooperative and effective an economic community than as any other functional body, for instance, diplomacy and judiciary. If EU proves incapable of maintaining the health of Eurozone within itself, it will be a significant blow to the state of unity in European Union. Economic coordination and the strength of Euro have constituted the main pillar of EU, and thus failing to bail Greece out of its imminent problem will, ironically, be the best proof of how feeble and fickle EU is as a community. If a member state is thrown out every time it faces some serious economic issue, EU will run out of nations in a close future. Bailing Greece is important for both the health of the EU economy and setting the right precedent that will protect EU in the future. Failure to cope with Greece is a step towards an existential threat of European Union.
Nations in EU should not be forced to take the brunt of other nations' failed economies just so that EU remains more solid. The issue of Eurozone sustainability is not a problem as serious and tangible as the impact Greece bailing package will have on other nations' economy. Unemployment and higher tax will strike the citizens of France, Germany, and many more whose citizens neither contributed to the problem nor directly benefits from saving Greek economy.
Also, EU can be stronger if it winnows out less reliable states, those that are not willing to step up to EU standard. For instance, Greece has a social security rate much greater than EU average. This structural problem precipitated the crisis this year yet the Greek government is still reluctant to alter the rates and modify the system. Carrying these nations along can be a the real permanent existential threat, not lacking the 'sense' of unity.
This case can also set the right precedent, not in that it carries all the problematic brothers and sisters along, but in that it devises a set criteria and standard procedure to deal with uncooperative or failing states.
Why should we?
The UK is not in the Eurozone and the UK has not adopted the Euro. We are wasting millions upon millions of taxpayers money remaining the the European Union. The reason the rest of Europe are pumping millions into Greece is because there is a threat of the Euro collapsing. The collapse of the Euro will not drastically affect the United Kingdom's economy.
Only countries with the Euro should defend the Euro. You don't see Japan, America, China bailing out Greece, because they have their own currency - like the UK.
The UK is slowly climbing out of a recession. We need all the government money and funding we can get to protect the BRITISH not the Greeks. Let the French and the Germans bail the Greeks out.
The motion does not ask the United Kingdom but Europe to finance it. I interpret this as a call for PIG&S and the rest of Euro-adopters in Europe to finance it; meaning Bigwigs like: France & Germany who lose out if the Euro fails.
Italy and Greece have too many problems to survive this on their own; The Euro was originally the best thing to happen to Europe in a long time; it continues to be a fairly strong currency.
France and Germany owe many of their successes to the success of the Euro(and all the countries that adopted it) and it is their duty to make sure it does not plummet and to 'take care of their own'.
What do you think?