Two of Germany's biggest think-tanks have warned that Britain faces devastating losses if it leaves the European Union that will cost the UK economy up to £225bn by 2030. The respected Ifo economic research institute and Bertelsmann Foundation calculated that if the UK left the 28-nation bloc and was unable to strike new trade deals quickly, it could trigger a perfect storm of diminished investment and innovation that would knock up to 14pc off UK gross domestic product (GDP) - or €313bn (£225bn) - by the end of the next decade.  This is equivalent to €4,850 (£3,500) per head in a worst-case scenario, the study said.  The think tanks said savings such as "cancelling of EU budget payments that currently total around 0.5pc of UK GDP could not compensate for economic losses, even in the best case scenario", adding that the biggest losses would be in financial services, chemicals, mechanical engineering and automotive industries. ....Is that it, just the one £3,500 per head ?If it were true it would be well worth it, but, why would a German think tank take the trouble and expense to produce this study? What is their agenda? Angela Merkel and her German cohorts have gone to enormous lengths to oppose the UK at every turn. In the words of Margaret Thatcher "They're frit". Germany do not want to be left holding the EU baby. The UK has always been a very successful trading nation, and without the EU single market stranglehold, we will once again be able to compete in the world market place, on our own terms not the EU's. Germany shouldn't worry about us (sarcasm), we'll do just fine, you watch. In actual fact the really big threat to the UK, is if Labour/SNP get into power from next week, that will cost every man, woman and child much more than £3,500.

The EU and the Euro is a joke. All this bickering and name calling I am sure is making international investors very nervous. Plus they look like a joke.  When will the ruling elite in Europe realize it is over. Its like a falling out amongst thieves. When the economy turns down at the end of this year you will see the Euro collapse. Capital flight soon.    Still pretending the 'troika' plan does not work. The plan is fine, Greece simply never implemented it.

Example: There are six times more civil servants per habitant 'working' in Greece than in Germany. That means 5 out of six civil servants could be fired. That cannot be done quickly, so the savings target set by the Troika was just 50%.  The Greek government was unable to fire any significant amount so they cut wages by 50% instead to obtain the same number of savings. Obviously that does not have the same effect, that demotivated all civil servants.  They should have fired at least 50% and give a pay rise to the remaining bunch to motivate them to keep up the level of service....Greece - None of the Troika have simply implemented anything here, least of all Draghi, with his selective Greece to be excluded, QE program. The problems with Varoufakis and Tsipras are: One, Syriza is not prepared to take Greece out of the EZ, and two, they were naive to think that they could exact change by simply stating their grievances. As things stand now, Tsipras will be forced to sell the worst of defeats as victory, and believe me, the Greek people will figure it out quickly. He can only win by doing something monumental here, and he's not prepared to do it. Tsipras appears to be playing at revolutionary. "No, Greece can't leave, it would mean the end of the world..." How nice of Varoufakis to be concerned about the well being of those who chose to destroy Greece. What a guy! "We're all Euro peons", now is it it? No, actually, just the Greeks are being treated like peons. ... If it is your intent to milk a cow, you work the teats gently, lest she kick your head off. This tact works across the political spectrum... cows as you know, don't discriminate...laughs

Europe will remain dependent on Russian gas for years to come, energy giant Centrica has warned, dismissing suggestions the EU can replace it with other sources as "unrealistic". European leaders have scrambled to try to cut reliance on imports from Vladimir Putin's Russia since the Ukraine crisis escalated last year, with Ed Davey, the energy secretary, suggesting loft insulation and wind farms were needed to "take on the Kremlin".  But Rick Haythornthwaite, Centrica chairman, told shareholders on Monday: "Whatever we might want as Europe, we need to be very careful about being pragmatic about the realities of it... I think it's unrealistic to think that Russian gas is going to be replaced in the near-term."  Iain Conn, Centrica chief executive, added: "Russia supplies... about a third of Europe's gas. You can't switch that off easily without huge consequence. There is no way the United States can supply that volume of LNG to replace it."  If sanctions were imposed on Russian gas companies would have to comply, he said, but it would have "a very significant impact on Europe's ability to balance its natural gas sources and uses", particularly in Eastern Europe which was "not plumbed in to many alternatives".   But he added that Russia had been a "a reliable supplier of gas all the way through the Cold War" and that it needed European demand. "Russia realises that plays a very important part in Russia's own future and there's as much value in this co-dependency as there is potential threat," he said...He's got balls - the last European energy guy to suggest Russian sanctions were unwise ended up smeared across the landscape after Langley flew his plane into a snow plough.

The US recovery suffered a severe setback at the start of the year with the rate of economic expansion far slower than economists had anticipated, according to data released on Wednesday.

US GDP rose by just 0.05pc in the first quarter, well below the 0.2pc expected by analysts and far weaker than the previous quarter's 0.54pc increase. Analysts blamed the strengthening dollar for the poor performance, as the currency's strength hit exports for a fourth consecutive month. The growth data is likely to stay the Federal Reserve's hands in raising interest rates later this year. The FTSE 100 and dollar both lost ground as the data were released. Chris Williamson, chief economist at Markit, said: "A stalling of US economic growth at the start of the year rules out any imminent hiking of interest rates by the Fed.  "The slowdown looks temporary, as a rebound from the first quarter weakness is already being signalled by forward-looking survey data, but the sustainability of any upturn is by no means convincing yet."  Ahead of the release, analysts at Deutsche Bank said: "The first quarter of the year has been the weakest in recent years, and 2015 is likely to be no exception”.  A string of weak first quarter performances has led some economists to question whether the Commerce Department, which releases the figures is "seasonally adjusting" the data correctly. As a result, some believe that the performances in the second to fourth quarters have been overstated. If that proves to be the case again this year, US growth figures should bounce back

Here is the situation without the clutter.

1. Greece has borrowed money which it can never pay back.

2. Greece has no money to pay its public sector.

3. Greece can no longer borrow money.

4. Greece wants to stay in the EU

5. Greece will be funded in perpetuity by the other EU members.

Alternatively Greece could be released to re-establish its sovereignty. As usual the project 'leaders' (sic) can't make a decision, and continue to undermine the €uro due to their ineptitude...the truth of the matter....

1. France, Belgium and Germany LENT money to Greece to get their sticky fingers on Greek national projects.

2. They knew in advance that Greece could never - ever - repay these debts - but they knew that the Lending Banks' losses would be sicked onto the taxpayers. Typical EU mafia.

3. Greece makes enough to pay its own public sector and did so long before the French invented the EU.

4. The Greeks have been telling the EU they don't want to borrow any more money for a couple of months now.

5. Greece WILL stay in the EU - or bring down the EU.

There's a lot more to it than just anti-Greek hype y'know...Unless a haircut is granted to Greece no amount of reforms will make a difference to Greece. Greece is bankrupt and has been since 2009. So Greece's partners are wasting their time...Nothing will change.

Greece cannot make their payments to the EU so it makes no difference. Everyone nows it and has known it..They are flogging a dead horse.  You cannot get blood out of a stone...There is nothing else to take..

In memoriam ...a grat singer ....

Greece requires to be bailed out...Just like the banks were a few years back...Hundreds of £Billions were dished out and also Q.E. was introduced and indeed will continue, just so the financials continue to operate...Kicking that can down the road. Now ask yourself what's the difference between banks and Greece...Both were broken by miss management and greed. Today however the banks and financials continue on their merry way...richer than ever, whilst the people of Greece (and others) must suffer austerity and unemployment...The divide between the rich in the centers of finance and politics, getting wealthier as their assets and investments go up in value maintained all the while by Q.E. and bail outs, and the rest of societies, grows wider by the day.  Greece meantime...There is an argument here, for Greece just throwing in the towel and defaulting on their debt, returning to the Drachma and say stuff it, we've had enough of this, Let the financials suffer for a change...Once this course of action happens, as sure it will, others will follow and the Euro will then be no more...First to leave will benefit the most...When?, that is the question...One is a loan and the other one is a "Donation" (well supposed to be a loan). Notice under TARP, the US government made profits - from the interest charged and the capital gains when the securities were sold. In contrast to Greece, so far 53.5% of the original loans were written off. Yet, Greece wants more debt write-off.And the same time, it wants Europe to lend it more money, which no doubt a portion will be written off in the future.  If you were the lender, would you lend your OWN MONEY to Greece?!?  As to the issue of reforms - every single country, when bloated must reform - whether the country is the US, Russia or Greece. Remember that unemployment in the US nearly reached 10M at one stage.  The extra-ordinary loans were made, so that companies and countries could carry out the necessary reforms and transition into a new viable and competitive entity (for example GM or Ireland).  Europe and IMF have offered Greece the loans, so it could carry out reforms.  But Greece only wants the money, but "does not" want to carry out reforms.  Which in the end results in Greece and companies within Greece, to remain un-competitive, which results in Greece asking for more "Loans" from Europe and IMF and more "write-offs".

A vicious cycle - no?!?