montelatici
Gold Member
- Feb 5, 2014
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That 35 % is most likely the student loan industry. A special game, that has not fully found its way into Europe, but will soon I bet. The problem with private debt that it is difficult to compare it with anything, because it changes often as randomly as laws written to underwrite it. On the other hand, national debt is per international agreements, a much slower variable, so national debt is the a better candidate for a metric, although not perfect. If after the student loan game the legislators suddenly decide to write a few new laws about creating a sex loan industry too, then that will be a private debt industry, underwritten automatically by the federal government, and still will serve no value in international comparisons.This Spain thing is a mystery though, I think. If Spain is happy with Ireland and Latvia in the EU, then why not Scotland? After all, Spain is now virtually bankrupt and its pions could then look for new foreign jobs in Scotland too, in addition to Germany.Scotland will remain part of the UK.
The prospect of them simply switching from UK to EU has been shot down by Spain (and the UK wouldn't allow it anyway).
They must wait until the UK finally leaves the EU - at least 2 years before that happens - and then they must decide whether to hold another independence referendum. The choice would be: nearest friends and customers vs EU.
If they chose EU, they would have to meet all financial obligations for a new applicant and, when they do that, they would have to adopt the Euro as their currency which is already a failing currency.
They would also need to accept free movement of immigrants. So far, few immigrants have made it up to Scotland, preferring the cosier England. The prospect of thousands of immigrants flooding over their borders will scare off many voters for independence.
Add on a low oil price and the need to continue sharing their fishing waters with the rest of the EU, then Scotland will have precious little to sustain them in their quest for economic stability.
They may well end up like Greece.
Scotland's interests are best served by remaining in the UK, working towards making a bigger success of Brexit.
Once other countries in the EU that are under pressure see how well it is going, they too will call for an Exit.
The EU is doomed and the UK has shown the other 27 member countries the way out.
You seem to believe the propaganda. If Spain is bankrupt, what is the U.S. It's funny how people believe that somehow only public debt is dent LOL
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No, what you and many others fail to understand is that in continental Europe, higher education is financed publicly, so students do not require loans, so that debt goes on the public side. The same with healthcare, it is a public benefit in continental Europe, so people do not borrow to pay their health bills. But, it gets added to the public debt.