City speaks out against Portugal bailout and Ed Balls’ political U-turn

first_img KCS-content More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comA ProPublica investigation has caused outrage in the U.S. this‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comColin Kaepernick to publish book on abolishing the policethegrio.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn whatsapp Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryBrake For ItThe Most Worthless Cars Ever MadeBrake For ItSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMoneyPailShe Was An Actress, Now She Works In ScottsdaleMoneyPailDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search Adsautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Comments submitted to the panel were withering, with most saying the UK should focus on problems closer to home before agreeing to help those further afield. “We need to get our house in order regardless of what’s happening abroad. Rather than providing funds for bailouts for other countries, those monies could be used to reduce our deficit further,” said one respondent. A minority did see the planned bailout as an opportunity for the UK to realise a return, however, with one panellist commenting: “Bearing in mind we can borrow the money at a four per cent interest rate and the Portuguese government will repay at 6.5 per cent, I think this is a reasonable bit of business.” No fewer than 49 per cent of participants agree with chancellor George Osborne’s assertion that the Portuguese experience justifies the depth and speed of austerity cuts in the UK, and 15 per cent see the latest sovereign casualty as proof that UK cuts should be even more drastic. Only 4.5 per cent backed the view that Portugal showed that the UK’s cuts are being made too drastically, while 29 per cent said the countries were too different to compare.Balls spoke out last week to say the UK should limit its contribution to the bailout fund, despite the agreement signed by Labour’s ex-chancellor Alistair Darling last year that the UK would contribute 13 per cent to the EU’s bailout fund. But only 17.5 per cent said this u-turn made them feel more favourable towards him. Twenty-eight per cent of those polled said that Balls’ scepticism had made them feel “much less favourable” towards him and 14 per cent somewhat less so. “Balls’ comments display a level of complete ignorance as to how UK banks have a very substantial exposure across Europe in holdings of both sovereign and corporate debt in the countries affected, and the potential losses that could be suffered on a default,” said one.Statistics were compiled from the 489 responses to the latest Voice of the City poll, printed in last Wednesday’s City A.M. and completed online by our City panel. Apply to join the panel at Participants could be in with the chance of winning a free luxury weekend to Paris. In September, we’ll put panellists who have responded to at least 80 per cent of surveys into a prize draw. Full T&Cs on request. whatsapp City speaks out against Portugal bailout and Ed Balls’ political U-turn Share Sunday 17 April 2011 11:02 pm Tags: NULL TWO THIRDS of our Voice of the City panel think that the UK contributing to a European bailout of Portugal is the wrong decision, with 41 per cent branding the move “completely wrong” and 23 per cent “somewhat wrong”. Just 12 per cent of respondents think the bailout is “completely right”.last_img

Leave a Reply

Your email address will not be published. Required fields are marked *