Is the end nigh for the Euro? [vol. 2]

Can't watch or listen to him, complete cocjtard imho, he just grates on me. If his written work is as poor as his spoken word then he would fall foul of the PH gramma' police in sort order..............

The State? (UK), debtors, creditors and consumers would all experience a different direct consequence.

Thank you that makes sense to me now

I shall point and laugh

I agree with this post. The real problem here is the multilevel consequences of seismic changes in the economics of the Euro and the EU, are bound to have very different effects, on the many different groups of individuals and organisations directly affected, by the consequences of the changes.

This much turbulence in the currency markets, investor confidence and economic structures of very large economic areas such as the Eurozone is, thankfully, extremely rare and extremely difficult, indeed probably impossible, to predict or anticipate.

I cannot see how to predict the results except that I can see this problem growing rapidly larger and therefor rising in its effects as the domino effect comes into play. These changes will reverberate across the world of finance and there will be major changes to the structure of investment and funding of Sovereign states in consequence.

I think the EU leaders have always known, that that was likely to be the real consequence of the defaults of several Sovereign states, unless the EU could hold those states within the EU. Hence the desperate attempts.

Unfortunately, as others have repeatedly reminded us, the actual management ability of the EU leadership has been woefully inadequate and they have been caught out, trying to support, wholly unsupportable and insolvent countries.

I do not think economic collapse, on this scale, has happened in Europe before. Certainly not post WWII. Predicting the outcome, is therefore very problematic.

But I am certain, that, the defaults, are upon us.

Superficially I just interpret this as the EZ propagandists as having done their job really well; they have convinced everyone that however bad it seemed, the return of the Drachma/Lire/Peso/Punt/Groat/etc was the numismatic equivalent of 'here be dragons'.

Did we all see this photo taken by some German journalists from inside the Greek Finance ministry? It looks like something out of Longbridge just before MG Rover went bust. And they wonder why they're in such a financial mess!

That's the problem, otherwise they'd have been kicked out months ago.

The real problem for us is primarily the impact onto banks and pension schemes as the dominoes (Greece>Spain>France>UK Banks) topple.

Jesus wept!

Normally I enjoy nit picking with you but on this I was in accord at the time and even more so now. You'll recall that I've been pointing out for the last six months the various Euro rescue vehicles have no actual assets beyond political hot air, hype and bombast. Ange won't cough, Herr Rollstuhl is currently puce in the face with anger at the direction the rest of Europe is heading and if it goes on he's likely to wheelie over backwards!

Talking of Dave, and his supposed "veto" of the fiskalpact, I can't work out whether Ange will be secretly pleased with him

What do they pay it with, olives?