Is the end nigh for the Euro? [vol. 2]
Discussion
Driller said:
(I don't know whether to feel annoyed that still no-one else gets why the P word is objectionable or all warm inside that in-spite of this and me being the only one who objects, HBATs has been adopted on this thread 
)
PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS PIIGS )Sometimes I have to get it out of my system. I still express my mystery as to your rather quaint displays of ire when confronted by the term which is both acronym and onomatopoeic.
DJRC said:
http://www.managementtoday.co.uk/news/1131929/trad...
Some good news chaps, we are only 2.7bn quid short each month
Some good news chaps, we are only 2.7bn quid short each month
article said said:
Payday loans company Wonga.com this week launches its consumer loans service in South Africa, in a move that takes it overseas for the first time.
Don't worry, someone will borrow a tenner and by the time the euro collapses Wonga will own South Africa. HMRC will tax it off them then the UK will survive by selling off bits of SA.- Keep Durban, Cape Town, the vineyards and Kruger Park for ourselves.
- Sell the Transvaal to China to cover our debts.
- Wall up Johannesburg, chuck in some machetes and sell the reality TV rights to ITV.
- Start a tax on racist farmers and stupid socks then punt off the Orange Free State once they've got no money left.
- Fake an oil discovery and sell the rest to Argentina for a laugh.
And have a smiley in case anyone thinks I'm being offensive rather than funny
The Telegraph said:
16.33 The ECB has stopped monetary policy operations with some Greek banks as they haven't been successfully recapitalised, sources told Reuters. The ECB declined to comment.
It was unclear exactly how many banks were affected. One person familiar with the matter said four Greek banks' capital was so depleted they were operating with negative equity capital. According to its own rules, the ECB can't provide liquidity to banks in such a situation.
It was unclear exactly how many banks were affected. One person familiar with the matter said four Greek banks' capital was so depleted they were operating with negative equity capital. According to its own rules, the ECB can't provide liquidity to banks in such a situation.
Irish said:
Eurocrats still driving the car, in the rain, at speed understanding that they will acquaplane on money supply.
Except this German Eurocrat - his car was torched by the Greeks...
http://www.ekathimerini.com/4dcgi/_w_articles_wsit...
eharding said:
The Telegraph said:
16.33 The ECB has stopped monetary policy operations with some Greek banks as they haven't been successfully recapitalised, sources told Reuters. The ECB declined to comment.
It was unclear exactly how many banks were affected. One person familiar with the matter said four Greek banks' capital was so depleted they were operating with negative equity capital. According to its own rules, the ECB can't provide liquidity to banks in such a situation.
It was unclear exactly how many banks were affected. One person familiar with the matter said four Greek banks' capital was so depleted they were operating with negative equity capital. According to its own rules, the ECB can't provide liquidity to banks in such a situation.
Andy Zarse said:
eharding said:
The Telegraph said:
16.33 The ECB has stopped monetary policy operations with some Greek banks as they haven't been successfully recapitalised, sources told Reuters. The ECB declined to comment.
It was unclear exactly how many banks were affected. One person familiar with the matter said four Greek banks' capital was so depleted they were operating with negative equity capital. According to its own rules, the ECB can't provide liquidity to banks in such a situation.
It was unclear exactly how many banks were affected. One person familiar with the matter said four Greek banks' capital was so depleted they were operating with negative equity capital. According to its own rules, the ECB can't provide liquidity to banks in such a situation.
It is a fact. A Piss up in a Brewery would be beyond the EU. Totally self inflicted, no disaster or tragic event involved, just old fashioned bad management.
The EU politicians are feckless, self serving, morons and the EU regulators are totally ineffective. There has been a crass lack of transparency, honestly and financial probity within the EU from the start. The game is not over yet.
By the time the EU are finished (??) there will be a complete destruction of all confidence in the EU, and any EU dealings. 150 million people will be thrown out of the EU, on their beam ends, and four Sovereign states will be in full blown default.
At which point a complete European restructure will be required and years of misery, complete penury and abject poverty will exist in a third of Europe.
I would like to see Sarkozy spin that and strut about. Sadly, he will be retired and on his secure pension, in foreign parts by then.
Steffan said:
At which point a complete European restructure will be required and years of misery, complete penury and abject poverty will exist in a third of Europe.
I would like to see Sarkozy spin that and strut about. Sadly, he will be retired and on his secure pension, in foreign parts by then.
In the global scheme of things, I doubt it will take long to normalise - just look around at all the the countries that have been ravaged.I would like to see Sarkozy spin that and strut about. Sadly, he will be retired and on his secure pension, in foreign parts by then.
It is morning when you wake up - and it seems they have all woken up.
t 
Andy Zarse said:
eharding said:
The Telegraph said:
16.33 The ECB has stopped monetary policy operations with some Greek banks as they haven't been successfully recapitalised, sources told Reuters. The ECB declined to comment.
It was unclear exactly how many banks were affected. One person familiar with the matter said four Greek banks' capital was so depleted they were operating with negative equity capital. According to its own rules, the ECB can't provide liquidity to banks in such a situation.
It was unclear exactly how many banks were affected. One person familiar with the matter said four Greek banks' capital was so depleted they were operating with negative equity capital. According to its own rules, the ECB can't provide liquidity to banks in such a situation.
There have been comments from various ECB figures over the past few days about the Emergency Liquidity Assistance not being available to insolvent Greek banks (but stating there weren't any which they deemed to be insolvent).
Now the word on the street this evening is that there may be up to four Greek banks which are now indeed deemed to be insolvent by the ECB - meaning they would instead have to seek liquidity assistance from the Greek Central Bank.
If all this means is that these dodgy banks end up with a lifeline from the ECB via the Greek Central Bank, rather than directly, then strictly speaking they will be as dodgy tomorrow as they were yesterday. Non-event.
But your average Greek punter, on hearing the news this evening that his bank might now be insolvent as far as the ECB is concerned (because no-one is naming names at the moment) is more than likely going to pop round to his local branch at sparrow fart tomorrow morning and try and withdraw whatever he's got left in there. If he leaves it until mid morning, he'll probably be too busy dealing with the effects of tear-gas, water-cannon and rubber bullets to work the ATM or try and write out a cheque to cash. Probably.
It might indeed be a non-event, but the whole lot is ready to go tits up at short notice.
Gassing Station | News, Politics & Economics | Top of Page | What's New | My Stuff