Is the end nigh for the Euro? [vol. 2]
Discussion
Ambrose E-P in the Telegraph, seems quite a likely outcome to me:
http://www.telegraph.co.uk/finance/financialcrisis...
http://www.telegraph.co.uk/finance/financialcrisis...
Steffan said:
Not yet combusted, spontaneously or otherwise. Domestic pressure with daughter in University College Hospital in London and Mother in Law in Preston Royal Hospital, is a slight logistics challenge. Reality of life I fear.
...
Apologies for the frivolous post during the time with your family, along with best wishes for them all....
The Euro situation is getting more interesting though...
While I think Greece can be made an example of, Spain will require ECB money printing to fill any financial hole! But like the UK though, if the amount is quite exact to the size of the hole, they may get away with it ...
coyft said:
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?
The UK economy is in dire straits but it seems to be the least of all evils for many......for the moment.
GBB said:
With the pound strengthening by the day I'm sure the last thing the government wants to do is to attract even more hot money by increasing interest rates.
The UK economy is in dire straits but it seems to be the least of all evils for many......for the moment.
The pound has dropped by over 4 cents against the USD this week, we hit 1.62 last week, currently below 1.58.The UK economy is in dire straits but it seems to be the least of all evils for many......for the moment.
tertius said:
Ambrose E-P in the Telegraph, seems quite a likely outcome to me:
http://www.telegraph.co.uk/finance/financialcrisis...
So mega QE Bazookas soon -http://www.telegraph.co.uk/finance/financialcrisis...
mondeoman said:
Timescales, we need timescales.
Are we looking at this week, next week, next month, summer, autumn, whenever?
This has been dragging on for years now, but no-one has actually pushed the button yet, so whats the considered opinion of when Greece will do the decent thing and jump?
They don't want to jump though. They want to have their cake and eat it.Are we looking at this week, next week, next month, summer, autumn, whenever?
This has been dragging on for years now, but no-one has actually pushed the button yet, so whats the considered opinion of when Greece will do the decent thing and jump?
Riff Raff said:
mondeoman said:
Timescales, we need timescales.
Are we looking at this week, next week, next month, summer, autumn, whenever?
This has been dragging on for years now, but no-one has actually pushed the button yet, so whats the considered opinion of when Greece will do the decent thing and jump?
They don't want to jump though. They want to have their cake and eat it.Are we looking at this week, next week, next month, summer, autumn, whenever?
This has been dragging on for years now, but no-one has actually pushed the button yet, so whats the considered opinion of when Greece will do the decent thing and jump?
The EU will not then be able to (understandably) seek to dominate the government of Greece.
But the EU can extend these defaults with more lovely subsidy. Difficult call.
The same drawn out process will apply to all the other HBAT's, But they will all default. IMO when Italy goes, the EU goes. So I would expect a great deal of manipulation, dishonesty and deliberate obfuscation from the EU.
But the realities of the economies failing totally remain unchanged.
"If wishes came true we would all be kings" could become the EU epitaph.
Daily Mash as always - spot on!
Euros disintegrating in sunlight
Euros disintegrating in sunlight
Daily Mash said:
EURO banknotes are dissolving into thin air at the touch of the sun as if they were never real.
Across the continent, 100 Euro notes turned into rectangles of blank paper in wallets, 50 Euro notes crumbled like ash when touched and 500 Euro notes melted into twinkling golden lights which blow in the wind.
The event has plunged Europe into financial turmoil, with stock market screens’ scrolling lists of zeros becoming ASCII rainbows and unicorns.
Jacques Vernet, manager of the Société Générale bank in Paris, said: “My clerks opened their cash drawers and the Euros fluttered upwards like beautiful butterflies, disintegrating in shafts of sunlight.
“I rushed to the vault but there was nothing left but a blinding luminescence. I heard a woman’s voice whisper ‘au revoir,’ gently into my ear, and when I opened my eyes the vault was empty.”
Herman Van Rompuy, President of the European Council, told members: “I saw a case of banknotes turned into golden leaves. I saw a handful of coins turned into iridescent pebbles that made a sound like music as they fell to the floor.
“Could it be that the single currency we believed in for so long was just a dream? Just a wonderful, wonderful dream?”
German financier Hans Gruber said: “I stared at my 20-Euro note as the colours and lines on it writhed around like a thing alive, never the same twice, until it turned into an old Reichsmark note bearing the face of Hitler.
“And – God help me – I was glad to see him.”
Across the continent, 100 Euro notes turned into rectangles of blank paper in wallets, 50 Euro notes crumbled like ash when touched and 500 Euro notes melted into twinkling golden lights which blow in the wind.
The event has plunged Europe into financial turmoil, with stock market screens’ scrolling lists of zeros becoming ASCII rainbows and unicorns.
Jacques Vernet, manager of the Société Générale bank in Paris, said: “My clerks opened their cash drawers and the Euros fluttered upwards like beautiful butterflies, disintegrating in shafts of sunlight.
“I rushed to the vault but there was nothing left but a blinding luminescence. I heard a woman’s voice whisper ‘au revoir,’ gently into my ear, and when I opened my eyes the vault was empty.”
Herman Van Rompuy, President of the European Council, told members: “I saw a case of banknotes turned into golden leaves. I saw a handful of coins turned into iridescent pebbles that made a sound like music as they fell to the floor.
“Could it be that the single currency we believed in for so long was just a dream? Just a wonderful, wonderful dream?”
German financier Hans Gruber said: “I stared at my 20-Euro note as the colours and lines on it writhed around like a thing alive, never the same twice, until it turned into an old Reichsmark note bearing the face of Hitler.
“And – God help me – I was glad to see him.”
Puggit said:
Daily Mash as always - spot on!
Euros disintegrating in sunlight
Quality Mash as ever! "blinding luminescence.." hahahaEuros disintegrating in sunlight
Daily Mash said:
EURO banknotes are dissolving into thin air at the touch of the sun as if they were never real.
Across the continent, 100 Euro notes turned into rectangles of blank paper in wallets, 50 Euro notes crumbled like ash when touched and 500 Euro notes melted into twinkling golden lights which blow in the wind.
The event has plunged Europe into financial turmoil, with stock market screens’ scrolling lists of zeros becoming ASCII rainbows and unicorns.
Jacques Vernet, manager of the Société Générale bank in Paris, said: “My clerks opened their cash drawers and the Euros fluttered upwards like beautiful butterflies, disintegrating in shafts of sunlight.
“I rushed to the vault but there was nothing left but a blinding luminescence. I heard a woman’s voice whisper ‘au revoir,’ gently into my ear, and when I opened my eyes the vault was empty.”
Herman Van Rompuy, President of the European Council, told members: “I saw a case of banknotes turned into golden leaves. I saw a handful of coins turned into iridescent pebbles that made a sound like music as they fell to the floor.
“Could it be that the single currency we believed in for so long was just a dream? Just a wonderful, wonderful dream?”
German financier Hans Gruber said: “I stared at my 20-Euro note as the colours and lines on it writhed around like a thing alive, never the same twice, until it turned into an old Reichsmark note bearing the face of Hitler.
“And – God help me – I was glad to see him.”
Across the continent, 100 Euro notes turned into rectangles of blank paper in wallets, 50 Euro notes crumbled like ash when touched and 500 Euro notes melted into twinkling golden lights which blow in the wind.
The event has plunged Europe into financial turmoil, with stock market screens’ scrolling lists of zeros becoming ASCII rainbows and unicorns.
Jacques Vernet, manager of the Société Générale bank in Paris, said: “My clerks opened their cash drawers and the Euros fluttered upwards like beautiful butterflies, disintegrating in shafts of sunlight.
“I rushed to the vault but there was nothing left but a blinding luminescence. I heard a woman’s voice whisper ‘au revoir,’ gently into my ear, and when I opened my eyes the vault was empty.”
Herman Van Rompuy, President of the European Council, told members: “I saw a case of banknotes turned into golden leaves. I saw a handful of coins turned into iridescent pebbles that made a sound like music as they fell to the floor.
“Could it be that the single currency we believed in for so long was just a dream? Just a wonderful, wonderful dream?”
German financier Hans Gruber said: “I stared at my 20-Euro note as the colours and lines on it writhed around like a thing alive, never the same twice, until it turned into an old Reichsmark note bearing the face of Hitler.
“And – God help me – I was glad to see him.”
Cat is out of the bag:
Telegraph said:
EU officials are horrified that one of their number has let the cat out of the bag. Until today, European Commission and European Central Bank officials peddled the line that there was no such plan. And that "Grexit" was simply unthinkable.
Karel De Gucht, a former Belgian foreign minister before he became EU trade commissioner, would be one in the know as he holds a key economic portfolio.
His remarks that the EU is ready to handle the "cataclysm" of Greek exit without a "domino effect" will seem highly complacent given the financial turmoil engulfing Spain.
"Totally off message," was the verdict of one EU diplomat.
As G8 leaders gather, it is yet another sign that eurozone and European leaders are in disarray with France insisting that Greece must be helped and Germany, with key EU officials onside, planning to leave the Greeks to their fate.
Karel De Gucht, a former Belgian foreign minister before he became EU trade commissioner, would be one in the know as he holds a key economic portfolio.
His remarks that the EU is ready to handle the "cataclysm" of Greek exit without a "domino effect" will seem highly complacent given the financial turmoil engulfing Spain.
"Totally off message," was the verdict of one EU diplomat.
As G8 leaders gather, it is yet another sign that eurozone and European leaders are in disarray with France insisting that Greece must be helped and Germany, with key EU officials onside, planning to leave the Greeks to their fate.
Puggit said:
Cat is out of the bag:
So what? The bag was see-through anyway!Telegraph said:
EU officials are horrified that one of their number has let the cat out of the bag. Until today, European Commission and European Central Bank officials peddled the line that there was no such plan. And that "Grexit" was simply unthinkable.
Karel De Gucht, a former Belgian foreign minister before he became EU trade commissioner, would be one in the know as he holds a key economic portfolio.
His remarks that the EU is ready to handle the "cataclysm" of Greek exit without a "domino effect" will seem highly complacent given the financial turmoil engulfing Spain.
"Totally off message," was the verdict of one EU diplomat.
As G8 leaders gather, it is yet another sign that eurozone and European leaders are in disarray with France insisting that Greece must be helped and Germany, with key EU officials onside, planning to leave the Greeks to their fate.
Karel De Gucht, a former Belgian foreign minister before he became EU trade commissioner, would be one in the know as he holds a key economic portfolio.
His remarks that the EU is ready to handle the "cataclysm" of Greek exit without a "domino effect" will seem highly complacent given the financial turmoil engulfing Spain.
"Totally off message," was the verdict of one EU diplomat.
As G8 leaders gather, it is yet another sign that eurozone and European leaders are in disarray with France insisting that Greece must be helped and Germany, with key EU officials onside, planning to leave the Greeks to their fate.
Andy Zarse said:
Puggit said:
Cat is out of the bag:
So what? The bag was see-through anyway!Telegraph said:
EU officials are horrified that one of their number has let the cat out of the bag. Until today, European Commission and European Central Bank officials peddled the line that there was no such plan. And that "Grexit" was simply unthinkable.
Karel De Gucht, a former Belgian foreign minister before he became EU trade commissioner, would be one in the know as he holds a key economic portfolio.
His remarks that the EU is ready to handle the "cataclysm" of Greek exit without a "domino effect" will seem highly complacent given the financial turmoil engulfing Spain.
"Totally off message," was the verdict of one EU diplomat.
As G8 leaders gather, it is yet another sign that eurozone and European leaders are in disarray with France insisting that Greece must be helped and Germany, with key EU officials onside, planning to leave the Greeks to their fate.
Karel De Gucht, a former Belgian foreign minister before he became EU trade commissioner, would be one in the know as he holds a key economic portfolio.
His remarks that the EU is ready to handle the "cataclysm" of Greek exit without a "domino effect" will seem highly complacent given the financial turmoil engulfing Spain.
"Totally off message," was the verdict of one EU diplomat.
As G8 leaders gather, it is yet another sign that eurozone and European leaders are in disarray with France insisting that Greece must be helped and Germany, with key EU officials onside, planning to leave the Greeks to their fate.
AndrewW-G said:
And as the cat was Schrodinger's, nobody knows if when the bag is finally, formally opened, it will trigger the death of the Euro project
Given that thus far they've proceeded on the Humpty Dumpty principle they will continue to trumpet this as a great victory for the great european project, which will emerge pheonix-like from this funeral pyre as a renewed and reinvigorated federalist circle jerk; the fact that the populace will be collectively marching on Strasbourg/Brussels/Frankfurt with pitchforks and flaming torches dismissed as a media exaggeration and the actions of a irrational and unrepresentative minority.The biggest cause of sliding into depression after reccesion is lack of world demand this is exactly where we are going IMO,work it out on an abacus or a computer you will get the same result,I also fear this euro debt thing hasnt yet showed its full strength though Spain has today admitted toxicity at the highest level since 94,I fear Steffan has been right all along the debts need cancelling or halving to a manageable amout to fan the embers of commerce and get countries back in buisness.
This is why as we are just outside I feel we may just get some economic mileage out of this as long as CMD and Osbourne dont blow it.
This is why as we are just outside I feel we may just get some economic mileage out of this as long as CMD and Osbourne dont blow it.
Driller said:
Mermaid said:
Steffan said:
..
The experiment has failed totally economically, financially and politically.
Not all experiments work, The experiment has failed totally economically, financially and politically.
I think you've rather got to say "didn't give the expected result" in this case.
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