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

[Ranger 6]

cheers!

[Mermaid]

RYH64E said:

Ranger 6 said:

This bit has meant the value has dropped in £000s so far.... I suppose my real question is how much further could it go and what's the implications if the € does collapse?

No one knows how much further it could go, if I knew I would have given up the day job long ago. If the euro collapses completely it'll be time to stock up on canned food and buy a shotgun.

The Euro is still considerably stronger against the £ today than it was at the outset.

[Irish]

Mermaid said:

The Euro is still considerably stronger against the £ today than it was at the outset.

1.2520 -0.22%

I would not have thought so. Still in 1.25 territory although I admit did hit 1.24 earlier.

To put in context it was 1.25 in 2008 (I was getting married in Ireland and had fond memories of cutting cheques as it went toward 1.16 by the time the big day arrived).

[Gary11]

Sump Scraper said:

Loans that they took out and could afford to pay and were paying until the whole financial st storm hut creating mass unemployment meaning they lost the ability to pay the loans.

If the banking system had stayed healthy, would these same Greeks not still be servicing these loans?

The bent bankers and bent politicians have ruined the economies all over Europe,that is a fact and to blame the people of these country's is shocking.

Over 25 million people unemployed in the eurozone, is that their fault?

The greed of the few have ruined it for the many.

None of which is particulary difficult to understand or without precedent,these people at the top of international finance should have exercised due dilligence,though probably did but were encouraged to ignore what they found or knew for the sake of the gravy train now its bit their arse good it will get worse!!

[turbobloke]

"The greed of the few have ruined it for the many"

Yet the so-called greedy haven't had it their way...and to which can be added:

"The unwillingness to pay tax of the many millions didn't help"

[RichardD]

Appetiser cost of Greek exit is €155bn for Germany, France: trillions for meat course

http://blogs.telegraph.co.uk/finance/ambroseevans-...

telegraph said:

This nonsense can of course be stopped in ten minutes if the EU:

1) announces that it will equip itself with a real central bank (a lender of last resort) that takes all risk of sovereign default off the table — with conviction and overwhelming force, with no ifs and buts, and no ambushes from the Bundesbank.

2) announces EMU debt-pooling, fiscal union, a joint EMU budget and tax system, and an EMU government as a counterpart for the enhanced the ECB.

Yes, this means rewriting the German constitution, and in effect means the abolition of Germany as a functioning sovereign nation.

[turbobloke]

The in-term is Grexit apparently. Something to remember or not alongside Hbat etc.

[eharding]

turbobloke said:

The in-term is Grexit apparently. Something to remember or not alongside Hbat etc.

I prefer Grexodos, from the..er...Greek exodos.

Or maybe Armagreekdon?

[DJRC]

RichardD said:

Appetiser cost of Greek exit is €155bn for Germany, France: trillions for meat course

http://blogs.telegraph.co.uk/finance/ambroseevans-...

telegraph said:

This nonsense can of course be stopped in ten minutes if the EU:

1) announces that it will equip itself with a real central bank (a lender of last resort) that takes all risk of sovereign default off the table — with conviction and overwhelming force, with no ifs and buts, and no ambushes from the Bundesbank.

2) announces EMU debt-pooling, fiscal union, a joint EMU budget and tax system, and an EMU government as a counterpart for the enhanced the ECB.

Yes, this means rewriting the German constitution, and in effect means the abolition of Germany as a functioning sovereign nation.

Yes, because that's really on the table!

[Mermaid]

RichardD said:

Appetiser cost of Greek exit is €155bn for Germany, France: trillions for meat course

http://blogs.telegraph.co.uk/finance/ambroseevans-...

telegraph said:

This nonsense can of course be stopped in ten minutes if the EU:

1) announces that it will equip itself with a real central bank (a lender of last resort) that takes all risk of sovereign default off the table — with conviction and overwhelming force, with no ifs and buts, and no ambushes from the Bundesbank.

2) announces EMU debt-pooling, fiscal union, a joint EMU budget and tax system, and an EMU government as a counterpart for the enhanced the ECB.

Yes, this means rewriting the German constitution, and in effect means the abolition of Germany as a functioning sovereign nation.

Lesser of two evils perhaps - Eurobonds & a weaker Euro say 1.50 to the £, circa old DM 3 to the £.

[eharding]

RichardD said:

Appetiser cost of Greek exit is €155bn for Germany, France: trillions for meat course

http://blogs.telegraph.co.uk/finance/ambroseevans-...

telegraph said:

This nonsense can of course be stopped in ten minutes if the EU:

1) announces that it will equip itself with a real central bank (a lender of last resort) that takes all risk of sovereign default off the table — with conviction and overwhelming force, with no ifs and buts, and no ambushes from the Bundesbank.

2) announces EMU debt-pooling, fiscal union, a joint EMU budget and tax system, and an EMU government as a counterpart for the enhanced the ECB.

Yes, this means rewriting the German constitution, and in effect means the abolition of Germany as a functioning sovereign nation.

You missed the last bit:

telegraph said:

My guess is that German citizens will not accept this implication. If so, we are all stuffed.

[Apache]

So, I might be getting a job offer in the Netherlands.......should I stay in the UK or go for it?

[PRTVR]

eharding said:

RichardD said:

Appetiser cost of Greek exit is €155bn for Germany, France: trillions for meat course

http://blogs.telegraph.co.uk/finance/ambroseevans-...

telegraph said:

This nonsense can of course be stopped in ten minutes if the EU:

1) announces that it will equip itself with a real central bank (a lender of last resort) that takes all risk of sovereign default off the table — with conviction and overwhelming force, with no ifs and buts, and no ambushes from the Bundesbank.

2) announces EMU debt-pooling, fiscal union, a joint EMU budget and tax system, and an EMU government as a counterpart for the enhanced the ECB.

Yes, this means rewriting the German constitution, and in effect means the abolition of Germany as a functioning sovereign nation.

You missed the last bit:

telegraph said:

My guess is that German citizens will not accept this implication. If so, we are all stuffed.

In about 1992 I remember having a long chat with a young german guy,this was just after the unification of Germany, he expressed concerns,
What he said was that there was something in the german make up that could lead to the rises in socialism again, what he said was that under the liberal facade it was still there, the Germans will not accept this and who knows where it will end.
Perhaps its time for the Army to place an order for trucks from Germany before the st hits the fan.

[eharding]

Telegraph reporting Hollande's aircraft en-route to his first meeting with Merkel has been struck by lightning and forced to turn back.

Started out well, hasn't it?

[Mermaid]

eharding said:

Telegraph reporting Hollande's aircraft en-route to his first meeting with Merkel has been struck by the Red Baron and forced to turn back.

EFA

[Andy Zarse]

eharding said:

Telegraph reporting Hollande's aircraft en-route to his first meeting with Merkel has been struck by lightning and forced to turn back.

Started out well, hasn't it?

Well what did he expect, the fool was wearing wet clothes. I know there's austerity but surely he could have run to an packamac when he was having his parade rained on at the Tomb of the Unknown Currency?

[HundredthIdiot]

turbobloke said:

The in-term is Grexit apparently. Something to remember or not alongside Hbat etc.

Too slow Chicken Marengo. Too slow for this cat.

HundredthIdiot said:

Peston, ZeroHedge and some bloke earlier in this thread are all predicting the Euro strengthening after the Grexit.

[davepoth]

Andy Zarse said:

Well what did he expect, the fool was wearing wet clothes. I know there's austerity but surely he could have run to an packamac when he was having his parade rained on at the Tomb of the Unknown Currency?

Although most of the reason for that was him standing in the sunroof of his brand new state limo (it's a hatchback) and waving at his adoring fans in the rain. The start of a more humble French administration my ass.

[turbobloke]

HundredthIdiot said:

Peston, ZeroHedge and some bloke earlier in this thread are all predicting the Euro strengthening after the Grexit.

So not just a cat but a fast cat

[davepoth]

Guardian reporting some EUR 700m has left Greek deposit accounts since the election there on the 6th of May. Central Bank President George Provopoulos says it isn't a panic, just people worrying about a potential panic.

OK George, whatever you say.

http://www.guardian.co.uk/business/2012/may/15/eur...