A to Z Challenge, Daily Blog, News, Thoughts

F is For Fuming/Foolish

Ok, so I rarely have a rant on my blog but I fancied sharing some of the news which is dominating the British news at the moment. Now before I continue I would like to point out (and from my juvenile thoughts you may be able to guess) that I don’t really follow politics and I don’t pretend to understand it either. The other thing I don’t understand in its entirety is the EU and how the UK plays it’s part in this.

Image Credit: Google Images

 

So basically each country within Europe i.e Ireland, France, Spain, Italy etc had their own individual currency up until 1999 and then the Euro was introduced to each country with the premise that’ll make the money of each country stronger plus have the reassurance that the Euro will stay strong much like the Japanese Yen and the US Dollar. And to be fair the Euro has held its word as now the Euro is the 2nd largest reserve currency & second to the US dollar in terms of currency used with traders etc.

But since the Euro was introduced 11 years ago a few countries have struggled & needed a financial bailout with Portugal being the most recent casualty. Now Britain is reportedly committed to contribute in funding these bailouts for failing countries that are within the EU until 2013 which Britain’s last government (labour) agreed to. Quoting the Dailymail

Under the terms Britain is responsible for 13.6% of the bailout fund and taxpayers are roped into helping the eurozone countries that go bust until 2013

Now Britain is not in the Euro and I understand that we should help countries such as Ireland as we trade at high levels with them. With that said I don’t understand why is taxpayers should have to contribute to the 70 Billion Euros that Portugal needs, why not have the 17 countries that are actually in the EU do it.

Now don’t get me wrong I’m all for helping people out but I find it difficult to understand why we should have to contribute when Britain itself is in financial crisis. Day to-day living costs has rocketed we’re now paying 20%VAT. We pay £1.32 per litre for petrol which is pretty extreme.  More and more people are being made redundant because it is now cheaper for things to be made abroad and the reasons for all these cost increases is try to bring down the total amount of money owes which is a figure that makes me shudder.  All I think is we should bring our country back up to speed and then help others.  Rant over!  As I said my thought’s and opinions made be juvenile, but I would really like to hear some other people’s thoughts about this.

Advertisements

2 thoughts on “F is For Fuming/Foolish”

  1. I bet there are some trade offs in the agreement. Plus the pound is the strongest converted currency and their contribution might end up being less than predicted … I hope. 🙂
    Eliz

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s