Is the end nigh for the Euro? [vol. 3]

[DJRC]

Steffan...why would they do that?

The Eurozone is nothing to do with accounting.

[rovermorris999]

It's about power and control.

[Driller]

4 years and thousands of pages later...the penny drops

[Convert]

Driller said:

4 years and thousands of pages later...the penny drops

I think you'll find it's the cent that's dropping.The penny is doing just fine

[rovermorris999]

And it's something we've known for a long time. I think the penny dropped for me sometime in the early 90's.

Edited by rovermorris999 on Sunday 19th July 12:30

[turbobloke]

Convert said:

Driller said:

4 years and thousands of pages later...the penny drops

I think you'll find it's the cent that's dropping.The penny is doing just fine

[Driller]

turbobloke said:

Convert said:

Driller said:

4 years and thousands of pages later...the penny drops

I think you'll find it's the cent that's dropping.The penny is doing just fine

Very good

But what DJRC and RoverMorris said was spot on.

[rovermorris999]

Quelle surprise!
http://www.dailymail.co.uk/news/article-3167159/Ho...

[boxst]

rovermorris999 said:

Quelle surprise!
http://www.dailymail.co.uk/news/article-3167159/Ho...

Well, yes. That is really the only way that single currency can work. I always thought it was a bit crazy to have that but no central controlling government. Like America that has federal responsibility / laws and then state and finally city.

Of course, not that it would work or be agreed to. Every country (quite reasonably) wants autonomy.

[Mermaid]

rovermorris999 said:

Quelle surprise!
http://www.dailymail.co.uk/news/article-3167159/Ho...

Love the French & their self preservation.

[GlenMH]

Mutti softening her position on debt relief?

http://www.bbc.co.uk/news/world-europe-33587330

[YankeePorker]

GlenMH said:

Mutti softening her position on debt relief?

http://www.bbc.co.uk/news/world-europe-33587330

As expected, just push out the debt maturity a few decades and lower the interest rates. That way they can say that there was no actual debt write off and everyone's happy.......except the next 4 or 5 generations in Greece.

[NicD]

Well, its no to a (further) haircut but 'maybe' to re-profiling the debt.

[Mermaid]

NicD said:

Well, its no to a (further) haircut but 'maybe' to re-profiling the debt.

Any winners here?

[DJRC]

GlenMH said:

Mutti softening her position on debt relief?

http://www.bbc.co.uk/news/world-europe-33587330

You mean the classic...bad news, bad news, bad news, bad news, bad news, less bad news and therefore = "a good thing"...ploy?


Who would have seen that one coming eh? What shock tactic from the Germans next? BMW to release a niche market segment motor vehicle?

[NicD]

Mermaid said:

Any winners here?

Yes of course!
The Eurocrats.
The German, French etc multis that profited from the huge vanity projects that consumed so much of these loans (actually I don't have figures for this).
The German, French etc banks that swapped their debt with the EU taxpayers.
There must be more....

[All that jazz]

rovermorris999 said:

Quelle surprise!
http://www.dailymail.co.uk/news/article-3167159/Ho...

Hmm. Europe controlled and run by Germany? (France doesn't count as Hollande can't even run his own country never mind any others). Why am I getting a sense of deja vu from around 100 years ago here?

[Leithen]

Prescient writing by Arnulf Baring in 1997 of how Germany's dominance of the Eurozone would backfire (via Paul Kirby).

[911Gary]

What sort of humongous financial institution gets away with years and years of non compliance in regard of annual submissions and figures? Seems none of the usual rules apply to them,any other business would be wound up accounts frozen and directors in jail for treason or similar.
G

[TeamD]

911Gary said:

What sort of humongous financial institution gets away with years and years of non compliance in regard of annual submissions and figures? Seems none of the usual rules apply to them,any other business would be wound up accounts frozen and directors in jail for treason or similar.
G

Since they don't answer to anyone, who's going to take action? Unfortunate, but true.