PistonHeads.com Forum

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

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

TOPIC CLOSED
TOPIC CLOSED
Author
Discussion

Keyser Soze

15,489 posts

88 months

Monday 14th May 2012
quotequote all
Blib said:
Well, Greece has lost my financial support. We've just switched our August holiday from there to Turkey.

This devastating blow to the Grecian economy could be the straw that breaks the camel's back.
Being serious for a moment

Should I be panicking about my holiday to Rhodes in June? What are worst case scenarios>

HundredthIdiot

4,414 posts

181 months

Monday 14th May 2012
quotequote all
Keyser Soze said:
Should I be panicking about my holiday to Rhodes in June? What are worst case scenarios>
Worst for whom? The person who has a holiday cancelled after the outbreak of civil war or the people who have to fight in it?

Andy Zarse

9,940 posts

144 months

Monday 14th May 2012
quotequote all
Blib said:
Well, Greece has lost my financial support. We've just switched our August holiday from there to Turkey.

This devastating blow to the Grecian economy could be the straw that breaks the camel's back.
Yes, not renting you a Fiat Panda on bald tyres will finish them

Keyser Soze

15,489 posts

88 months

Monday 14th May 2012
quotequote all
HundredthIdiot said:
Keyser Soze said:
Should I be panicking about my holiday to Rhodes in June? What are worst case scenarios>
Worst for whom? The person who has a holiday cancelled after the outbreak of civil war or the people who have to fight in it?
In this instance worst for me

eharding

7,765 posts

181 months

Monday 14th May 2012
quotequote all
Keyser Soze said:
HundredthIdiot said:
Keyser Soze said:
Should I be panicking about my holiday to Rhodes in June? What are worst case scenarios>
Worst for whom? The person who has a holiday cancelled after the outbreak of civil war or the people who have to fight in it?
In this instance worst for me
You go on holiday, your accomodation and return flight are cancelled six hours after you arrive, and you end up fighting in the civil war.

That, obviously, isn't the worst that can happen.

The worst that could happen is that they make you fight wearing the traditional battle pom-poms on the end of your shoes.


coyft

3,506 posts

108 months

Monday 14th May 2012
quotequote all
How long before plan B is announced? Deficit reduction, whilst allowing economies to grow.

Plan B. Strong commitment to a long term deficit reduction plan, cut less in the short term and push back austerity to later years.

See that can? Give it a good kick.

cayman-black

4,330 posts

113 months

Monday 14th May 2012
quotequote all
Greece out of the euro, i can see half of the UK going on holiday there this year. They will probably do well at last.

traxx

2,914 posts

119 months

TheDiplomat

72 posts

41 months

Monday 14th May 2012
quotequote all
Am about to book a holiday to Greece!

Will be incredibly cheap and at least I'll be helping re-build the shattered local economies.

When will the printing presses start up for the Drachma?

Mermaid

21,480 posts

68 months

Monday 14th May 2012
quotequote all
TheDiplomat said:
Am about to book a holiday to Greece!

Will be incredibly cheap and at least I'll be helping re-build the shattered local economies.

When will the printing presses start up for the Drachma?
I like the optimism, how come they don't share that?

HundredthIdiot

4,414 posts

181 months

Monday 14th May 2012
quotequote all
coyft said:
How long before plan B is announced? Deficit reduction, whilst allowing economies to grow.

Plan B. Strong commitment to a long term deficit reduction plan, cut less in the short term and push back austerity to later years.

See that can? Give it a good kick.
I do not understand how you can cut deficit, debt and stimluate growth at the same time. You can say it or write it, but it just doesn't add up given the yawning gaps involved.

Take Ireland for instance. There's already quite a lot of moaning about austerity from the political left, who now perhaps represent both the unemployed builders and the public sector, both of whom want to avoid cuts to welfare/public sector pay. Despite all this moaning, and four years of crisis to date, the deficit correction is only part done. There are still another two or three years of savage budgets to come according to the original plan, and that original plan envisioned growth which hasn't appeared yet. Each of these future budgets will depress the domestic economy and push the fantasy projections of balanced budgets further into the future.

And then you have to move past govt deficit to govt debt, and beyond govt debt to private sector debt and those tens/hundreds of thousands in mortgage arrears.

And that's just Ireland, which has been Mr Goody Two Shoes amongst the PIIGS, and is fortunate enough to have "only" 14% unemployment.

In the context of all this, what effect is a little "stimulus plan" going to have on the likes of Spain? It'll just be state support to the construction sector to build stuff that is already built. Straight down the toilet.

The only way this is going to end is by widespread destruction of the paper wealth that has accumulated in the last decade. It was never worth anything in the first place.

coyft

3,506 posts

108 months

Monday 14th May 2012
quotequote all
HundredthIdiot said:
coyft said:
How long before plan B is announced? Deficit reduction, whilst allowing economies to grow.

Plan B. Strong commitment to a long term deficit reduction plan, cut less in the short term and push back austerity to later years.

See that can? Give it a good kick.
I do not understand how you can cut deficit, debt and stimluate growth at the same time. You can say it or write it, but it just doesn't add up given the yawning gaps involved.
When did common sense have anything to do with it? This is about how politicians can gain or retain their power.

cal216610

7,814 posts

67 months

Monday 14th May 2012
quotequote all
It's starting to hit local news that Greece maybe out of the EURO with local businesses having drachma contingencies.

lost in espace

3,739 posts

104 months

Monday 14th May 2012
quotequote all
I saw the BBC travel correspondent Simon Calder on breakfast telly talking about how the change over to Drachma will happen. The euros will be stamped with a drachma symbol to differentiate them, and he recommended taking small note euros if you are going on holiday there as they will be in demand should the worst happen.

Keyser Soze

15,489 posts

88 months

Monday 14th May 2012
quotequote all
lost in espace said:
I saw the BBC travel correspondent Simon Calder on breakfast telly talking about how the change over to Drachma will happen. The euros will be stamped with a drachma symbol to differentiate them, and he recommended taking small note euros if you are going on holiday there as they will be in demand should the worst happen.
A very similar article in the Evening Standard tonight, think I will take Sterling and change as much as I need per day

lost in espace

3,739 posts

104 months

Monday 14th May 2012
quotequote all
Keyser Soze said:
A very similar article in the Evening Standard tonight, think I will take Sterling and change as much as I need per day
Not a bad idea as its getting stronger by the day.

Keyser Soze

15,489 posts

88 months

Monday 14th May 2012
quotequote all
lost in espace said:
Keyser Soze said:
A very similar article in the Evening Standard tonight, think I will take Sterling and change as much as I need per day
Not a bad idea as its getting stronger by the day.
yes I will probably lose out slightly with commission fees but think it will be worth it

Mermaid

21,480 posts

68 months

Monday 14th May 2012
quotequote all
cal216610 said:
It's starting to hit local news that Greece maybe out of the EURO with local businesses having drachma contingencies.
Will it be panic in world markets when it finally happens, or relief and a rally?

cal216610

7,814 posts

67 months

Monday 14th May 2012
quotequote all
Mermaid said:
cal216610 said:
It's starting to hit local news that Greece maybe out of the EURO with local businesses having drachma contingencies.
Will it be panic in world markets when it finally happens, or relief and a rally?
Think it maybe more like, told you so and back to eating a ploughmans lunch and a pint of ale.

hornetrider

54,257 posts

102 months

Monday 14th May 2012
quotequote all
TOPIC CLOSED
TOPIC CLOSED