Reply to post: Re: HS2 and the Galileo replacement

Galileo, here we go again. My my, the Brits are gonna miss EU

Dan 55 Silver badge

Re: HS2 and the Galileo replacement

They have the shared currency EUR and it is one, singular only.

As do dollarized economies.

They have tight rules over their economic policies

You mean they shouldn't run a deficit.

and are chained to the same interest rates/source of money. They do not control their own currency, that is what the Euro entails, giving up your own currency to have the shared currency.

They have a shared central bank setting the interest rate, as do dollarized economies.

Not exactly. As I said a direct comparison would be the IMF bailing out California, that is bailing out the US.

No, that would be bailing out Californian bonds.

Eh? EU currency is Euro we are discussing the bailout of the Euro particularly a section of the Euro area directly interacting with the Euro area.

No backpedalling.

Quote 1: "Primarily because the IMF is currently bailing out the EU who went cap in hand in their bailing out of Greece for loans which will never be repaid."

Quote 2: "Thank you for agreeing the IMF bailed them out. So therefore showing the EU was being bailed out by the IMF. As I said to the other guy, it aint difficult to understand."

Not Geography, currency area. The economic area of that currency from issuer to country returning it to the issuer.

Once again, if a country dollarizes its economy, it becomes part of the dollar currency area.

You're arguing that bailing out a country is bailing out another country (or, in the EU's case, bailing out a supranational legal entity, if that were possible). I'm using the example of a dollarized economy to show that is not true.

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