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Re: Referendum (2) SPLIT from "Too good to be true?" post

Posted: Wed Jun 22, 2016 5:17 pm
by Kilkis
Absolutely terrifying, Martin. I'm sure a one off cost of £17 and an annual recurrent cost of 39p will totally wipe out my pension pot in no time at all. Gordon Brown raided all our pensions for far more than this and nobody batted an eyelid. He personally wiped out almost all defined benefit pension schemes in his time as chancellor of the exchequer with absolutely no help from the EU at all. The fact that his actions caused defined benefit schemes to close their doors to new members over a very short time period will also cause a massive hit on the stock exchange valuation in a few years time.

Warwick

Re: Referendum (2) SPLIT from "Too good to be true?" post

Posted: Wed Jun 22, 2016 8:39 pm
by moved 2 crete
well said Warwick...........

Re: Referendum (2) SPLIT from "Too good to be true?" post

Posted: Thu Jun 23, 2016 2:14 pm
by SatCure
Kilkis wrote:There is no evidence of corruption within the Commission itself, although some probably exists as it does in any large institution.

But, from the BBC (renowned for being "economical with the truth) we get this:
http://www.bbc.com/news/world-europe-26014387?SThisFB

Re: Referendum (2) SPLIT from "Too good to be true?" post

Posted: Thu Jun 23, 2016 3:53 pm
by Kilkis
Read the article, Martin. The corruption is not within the Commission. The corruption is within national administrations who are responsible for implementing the framework programmes in each country. The BBC article supports exactly what I wrote:

Kilkis wrote:...The bulk of accounting errors found by the auditors, and the only ones that were significant, were in the funds paid out on various framework programmes in member states. Those payments are administered by the government in each member state. If some of those errors are due to corruption then that corruption is within the democratically elected government of each member state or within the administration that democratically elected government controls. It is not within the Commission....


Warwick

Re: Referendum (2) SPLIT from "Too good to be true?" post

Posted: Fri Jun 24, 2016 10:11 am
by Kilkis
The vote to Leave has wiped about 10 times as much off the value of private/occupational pension funds as Vote Leave claimed that the EU intended to take in tax. Obviously that is a paper loss at the moment but, given the rules that apply to the distribution of assets within a pension fund, that may become a real loss unless the markets recover quickly.

Warwick

Re: Referendum (2) SPLIT from "Too good to be true?" post

Posted: Fri Jun 24, 2016 1:42 pm
by filippos
Ever the prophet or reporter of doom.
Yes, stocks have crashed but I guess (as we all must 'cos we don't have crystal balls) that markets will recover reasonably quickly. Like the GBP 'plummeted' with the surprise result. Wow, it fell to where it was 2-3 weeks ago and has already bounced slightly. Whatever, there's nowt we can do about it so worrying is pointless and just depressing.