Is the end nigh for the Euro? [vol. 3]
Discussion
FN2TypeR said:
Fastdruid said:
FN2TypeR said:
More or less back to where it started this morning now, the prospect of a bailout must be a tasty thing indeed.
Meant to be a bail-in before a bail-out but we'll see.
I did see a suggestion a couple of weeks ago that the Italians might bypass the 'bail-in' aspect by buying up shares and bonds on the open market before the bail-out - effectively giving the tax payer both the hits. Forbes - Ahh, That's How Italy Is Going To Resolve Monte Dei Paschi - Maybe
I have long maintained on here that the currency cannot survive in the long run. Many other who dip into this thread strongly believe that politics trump economics.
We are moving to a new place, where to guarantee electability in 2017, post Trump and post Brexit votes, the politics are shifting against the orthodoxy of thougt. That doesn't bode well for a single currency of many nations with diverse thinking.
A Black swan event could tip the consensus into a breakup anytime. I have put my view that Marie Le Pen will be elected. Events in Berlin and even the bail in or out in Italy make this more likely, not less.
Again. Where is the EU political response, where ia the flexibilty and adaption to a changing world that will enable smooth sailing in troubled times?
One EU leader is a drunkard, the other appears a jackbooted fascist determined to maintain control.
The harder they squeeze, the more will slip through their fingers.....
We are moving to a new place, where to guarantee electability in 2017, post Trump and post Brexit votes, the politics are shifting against the orthodoxy of thougt. That doesn't bode well for a single currency of many nations with diverse thinking.
A Black swan event could tip the consensus into a breakup anytime. I have put my view that Marie Le Pen will be elected. Events in Berlin and even the bail in or out in Italy make this more likely, not less.
Again. Where is the EU political response, where ia the flexibilty and adaption to a changing world that will enable smooth sailing in troubled times?
One EU leader is a drunkard, the other appears a jackbooted fascist determined to maintain control.
The harder they squeeze, the more will slip through their fingers.....
loafer123 said:
I mere flick of a finger at the Italian Central Bank and they are created...
The ECB and EU are going to be zehr cross.
How does that work? Surely the ECB has to create the Euros, otherwise there would just be a race to the bottom as each central bank would have to make sure it printed more than the others to stay ahead of the currency devaluation.The ECB and EU are going to be zehr cross.
It's Italian tax payers that'll be illegally propping up the bank isn't it?
paulrockliffe said:
loafer123 said:
I mere flick of a finger at the Italian Central Bank and they are created...
The ECB and EU are going to be zehr cross.
How does that work? Surely the ECB has to create the Euros, otherwise there would just be a race to the bottom as each central bank would have to make sure it printed more than the others to stay ahead of the currency devaluation.The ECB and EU are going to be zehr cross.
It's Italian tax payers that'll be illegally propping up the bank isn't it?
Gargamel said:
I have long maintained on here that the currency cannot survive in the long run. Many other who dip into this thread strongly believe that politics trump economics.
We are moving to a new place, where to guarantee electability in 2017, post Trump and post Brexit votes, the politics are shifting against the orthodoxy of thougt. That doesn't bode well for a single currency of many nations with diverse thinking.
A Black swan event could tip the consensus into a breakup anytime. I have put my view that Marie Le Pen will be elected. Events in Berlin and even the bail in or out in Italy make this more likely, not less.
Again. Where is the EU political response, where ia the flexibilty and adaption to a changing world that will enable smooth sailing in troubled times?
One EU leader is a drunkard, the other appears a jackbooted fascist determined to maintain control.
The harder they squeeze, the more will slip through their fingers.....
I've always maintained exactly the opposite We are moving to a new place, where to guarantee electability in 2017, post Trump and post Brexit votes, the politics are shifting against the orthodoxy of thougt. That doesn't bode well for a single currency of many nations with diverse thinking.
A Black swan event could tip the consensus into a breakup anytime. I have put my view that Marie Le Pen will be elected. Events in Berlin and even the bail in or out in Italy make this more likely, not less.
Again. Where is the EU political response, where ia the flexibilty and adaption to a changing world that will enable smooth sailing in troubled times?
One EU leader is a drunkard, the other appears a jackbooted fascist determined to maintain control.
The harder they squeeze, the more will slip through their fingers.....
But.. With Brexit looming and the simmering undercurrent of dissent across vast swathes of Europe, I'm beginning to wonder whether it's time to change my mind. No single country in Europe has the ability to create a force large enough to dominate another but if the cracks become too vast it might be an idea to keep a weather eye to the east. Would Trumpland come to our aid if that happened? Nope.
number 46 said:
They are getting a haircut as far as I am aware, its a bail out by the Itailian government, abit like us and RBS.
They're supposed to get a haircut under EU Law, but the Italians were angling for some sort of wheeze to avoid that. Presumably they will argue that the EU can't enforce their rules because it'll all be too damaging for the EU, but we'll see.There was a plan mooted that involved the state compensating the little man for the haircut, possibly by buying their shares in the bank before the haircut, I can't remember the details.
All sounds dodgy as f
k with success predicated on the EU not daring to kick up a fuss.Gassing Station | News, Politics & Economics | Top of Page | What's New | My Stuff