Is the end nigh for the Euro? [vol. 2]
Discussion
Mermaid said:
Tyre Smoke said:
Mermaid said:
Euro holding up well 
What's it at vs £?1.245 Euros to the £
.I'm toying with the idea of keeping a float in Euros to cover holidays for the next ten years
egor110 said:
With Greece looking more shakey, has the time finally come to get a long term fixed mortgage in preperation for the chaos and high mortgage rates that will surely come with the clapse of the euro?
Why do you say that? UK Mortgages are some of the safer investments that banks can make these days. Looking at current rates, the UK householder on a 2.9% rate is viewed as a rather safer bet than France which is on a 2.99% rate.http://www.ecb.int/stats/money/long/html/index.en....
Let us be absolutely clear on one principle. This dreadful mess could have been resolved IF the EU was properly managed. It is not properly managed, has never been properly managed, will not be properly managed and therefore, the problems are insoluble.
Its not that the there is no way to solve these problems of the Euro. It requires Central Fiscal control, Central direction of all individual government expenditure, no real power to be wielded by the individual states in Europe and therefore, in effect, for all the countries within the Euro to become subjugated to the common purpose.
Which is never going to happen, because no country would accept accept this subjugation.
What cannot continue, is the 'Everybody can have everything they want approach," with no financial consequences apparently, that typified all the old EU agreements.
The EU has demonstrated brilliantly, that without central fiscal control and central economic control no monetary union of individual states can function effectively within a single currency. That is reality.
The experiment has failed totally economically, financially and politically. It will take months for this to seep through to the minds of EU politicians, who are to a man in it for one thing. Themselves.
When it does there will be changes.
But the eventual resolution of this mess will take years, although the HBAT's default will be quicker than that, I pray.
Its not that the there is no way to solve these problems of the Euro. It requires Central Fiscal control, Central direction of all individual government expenditure, no real power to be wielded by the individual states in Europe and therefore, in effect, for all the countries within the Euro to become subjugated to the common purpose.
Which is never going to happen, because no country would accept accept this subjugation.
What cannot continue, is the 'Everybody can have everything they want approach," with no financial consequences apparently, that typified all the old EU agreements.
The EU has demonstrated brilliantly, that without central fiscal control and central economic control no monetary union of individual states can function effectively within a single currency. That is reality.
The experiment has failed totally economically, financially and politically. It will take months for this to seep through to the minds of EU politicians, who are to a man in it for one thing. Themselves.
When it does there will be changes.
But the eventual resolution of this mess will take years, although the HBAT's default will be quicker than that, I pray.
egor110 said:
coyft said:
Then the Central Banks start lending it to them at next to nothing. I can't see interest rates going up anytime soon.
Surely it would be the perfect opportunity the banks need to put the rates up and blame the fall of the euro?
egor110 said:
coyft said:
Then the Central Banks start lending it to them at next to nothing. I can't see interest rates going up anytime soon.
Surely it would be the perfect opportunity the banks need to put the rates up and blame the fall of the euro?
I doubt there is an appetite to take on these "assets".
WhoseGeneration said:
Steffan, my sympathy for your family concerns. I hope they are resolved positively.
I appreciate the sentiment, WhoseGeneration.Mother in law is 88 still going but not so strong. The Way of all Flesh, as Mr Samuel Butler said. Thankfully there is, no pain, so we are very very thankful for that.
Daughter has a serious hip operation she is recovering well. Long job though three months off her legs. Thank you.
egor110 said:
Because if the euro goes tits up , banks stop lending to each other , so with less money sloshing about they charge more to borrow it.
Your mortgage actually goes on the books as an asset - if the bank goes tits-up they sell it on. Think of an interest only mortgage being like a fixed term bond for them.WhoseGeneration said:
davepoth said:
if the bank goes tits-up they sell it on.
Unless already sold on. Is that still going on? RMBS, remember.Steffan said:
WhoseGeneration said:
davepoth said:
if the bank goes tits-up they sell it on.
Unless already sold on. Is that still going on? RMBS, remember.not paying the CEO enough.....
Steffan said:
..
The experiment has failed totally economically, financially and politically.
Not all experiments work, and there is learning in this for other groups of countries that are not politically/culturally the same of what not to do. And I expect there will be a successor version (not that this is pronounced dead yet) that may well work.The experiment has failed totally economically, financially and politically.
Some may say Germany unsuccessful, again - it seems for the moment.
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