Crisis In The European Union


Watching the financial crisis unfold in Europe has been like watching a car crash in slow motion. You already know what the outcome is likely to be and just wish that the politicians would get to grips with it. What will happen when Italy is unable to pay it’s debts and the bond markets decide they don’t want to lend it any more money? The Italians need to borrow an eye watering 300 billion Euros next year, yes billions not millions. Just where is that going to come from when it is shut out from the bond markets?

Angela Merkel and her mates at the European union are trying to put a financial transaction tax on us Brits which would generate billions of pounds for the European Union. In other words they are trying to get us to bail out the Euro through the back door. I am sick of the people from Brussells meddling in our affairs and trying to run our country from Brussells. I know we do a lot of business with the Europeans and the last thing that we all want is for our European partners to be facing financial ruin but they have all been living well beyond their means and it is not up to us to bail them out.
It is already very hard to get any money out of the banks if you are a landlord or a property investor. Yes they will lend you money but it is very expensive ans they have added extras onto the loan such as high arrangement fees and exit fees when you sell the property. Make no mistake about it this recession has been very protracted as we have has very little growth for the last few years. I would liken it to wading through treacle when trying to deal with banks.
It is already very hard to get any money out of the banks if you are a landlord or a property investor. Yes they will lend you money but it is very expensive ans they have added extras onto the loan such as high arrangement fees and exit fees when you sell the property. Make no mistake about it this recession has been very protracted as we have has very little growth for the last few years. I would say it is like wading through treacle when trying to deal with banks. If you are lucky enough to get a loan in principle they take 3 months to get the money to you!

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