Is the end nigh for the Euro? [vol. 3]
Discussion
It's quite good to see Michael Portillo has pretty much said what I have been saying for the last few years on almost every subject. When he was in Politics I didn't take to the guy at all, but for the last few years I've come to respect his opinions and like the bloke. I think part of that is me getting older and becoming more experienced, having moved away from my Manchester roots. I left school at the height of the Thatcher government in 82, so was living in a very left of centre area of the country and have changed some of my views over time.
He also said last night that you will hear a lot from the EU negotiator in the next year, but the EU soundings are irrelevant, its the heads of state that matter. I've been saying that for months on the other threads.
He also said last night that you will hear a lot from the EU negotiator in the next year, but the EU soundings are irrelevant, its the heads of state that matter. I've been saying that for months on the other threads.
Andy Zarse said:
Yes she was beyond belief. Whilst I greatly admired her purblind pigheadedness, it was a salutary reminder that there's none so blind as them as won't see.
I guess this is the crux of what has led to Trump/Brexit. If someone "in the elite" tells everyone it is a success, but you can't get access to medicine, your children can't find work (40% youth unemployment) or you are renting a dump of a house with no prospect of owning a house - then it is clear that the system isn't working for you or interested in you. At least if you had someone saying, we need reform, we need to do more, we need to help etc - you could just about still believe in it.
Fact is the latest moves to taper QE suit Germany, but throw the fringe states to the wolves (again)
Digga said:
I don't play golf, but was told by a Dane who did that if there's beer cans thrown into the rough by a tee, that the stock joke is "the Swedes were here before us". 
The old saying was "Keep Copenhagen tidy, take a Swede to the ferry terminal!". Now they've built the bridge I suppose the bus terminal would be more appropriate.The Danes very sensibly voted to keep the Kroner rather than adopting the Euro, so the would have the same advantage as the UK if they ever decide to leave the EU. I think for any country in the €zone, trying to leave it or the EU would be a hell of a challenge.
You recall the situation that the Greeks were in - had they planned ahead and had warehouses with new Drachma currency they would have been in a position to drive a hard bargain when talking to Brussels. I seem to recall an expert from Delarue commenting at the time that to design and print the currency necessary to be able to switch over you need at least a one year head start. I wonder if there are any €zone countries who have done the required contingency planning on the quiet?
YankeePorker said:
I wonder if there are any €zone countries who have done the required contingency planning on the quiet?
IIRC not only did Germany do the planning, they also had the presses ready for the 'neu Deutsche mark': http://www.express.co.uk/news/world/255228/Mark-se...
London424 said:
India have done a decent job recently of printing up new currency on the quiet for a billion or so people.
I don't think the huge queues at Banks and ATMs would agree. Apparently the lower denominated notes are not the right size for the ATMs to dispence and could take up to a year to adjust them nationwide.Edited by Borghetto on Friday 9th December 16:24
Digga said:
IRC not only did Germany do the planning, they also had the presses ready for the 'neu Deutsche mark': http://www.express.co.uk/news/world/255228/Mark-se...
Yep I remember these rumours at the time but I think it was just hot air. Nevertheless, if the government of a €zone country receives credible advice that the future of the currency is dubious, I think they would be duty bound to do the necessary contingency planning. Catch 22 really, because if the news gets out that such preparations are underway it would clearly undermine the stability of the € and make it's failure more likely.London424 said:
Suspended twice. But if you look at the long-term for those shares anything that happens now to them is pretty irrelevant; they've lost 98% of their value in 5 years, so even a halving in the price is only 1% against the long-term price. They were worthless yesterday, they're worthless today and they'll be worthless tomorrow.No.
See previous volumes over many years for the answer. Why do you keep bashing this stupid drum?
Daily Mail readers with a sperm count approximate to belt size and brain cells?
The answer is no, the end is not high for the Euro.
Read it and weep if you want it to be.
Cheers
See previous volumes over many years for the answer. Why do you keep bashing this stupid drum?
Daily Mail readers with a sperm count approximate to belt size and brain cells?
The answer is no, the end is not high for the Euro.
Read it and weep if you want it to be.
Cheers
Edited by Gandahar on Friday 9th December 22:09
Gandahar said:
No.
See previous volumes over many years for the answer. Why do you keep bashing this stupid drum?
Daily Mail readers with a sperm count approximate to belt size and brain cells?
The answer is no, the end is not high for the Euro.
Read it and weep if you want it to be.
Cheers
See previous volumes over many years for the answer. Why do you keep bashing this stupid drum?
Daily Mail readers with a sperm count approximate to belt size and brain cells?
The answer is no, the end is not high for the Euro.
Read it and weep if you want it to be.
Cheers
Edited by Gandahar on Friday 9th December 22:09
I'd hate to see this thread defend into the kind of bile filled nonsense elsewhere on NP&E, so if you want to believe all is well in Euroland and those of us who don't are fools. Then so be it..
I am content to be a contrarian, The money is running out and a reckoning is coming for the Euro countries.
paulrockliffe said:
London424 said:
Suspended twice. But if you look at the long-term for those shares anything that happens now to them is pretty irrelevant; they've lost 98% of their value in 5 years, so even a halving in the price is only 1% against the long-term price. They were worthless yesterday, they're worthless today and they'll be worthless tomorrow.edit, should have said now they look like they will nationalise it.
Edited by wc98 on Saturday 10th December 00:08
David Cameron seems to think the Euro may not survive.
http://www.independent.co.uk/news/uk/politics/davi...
and a number of other reports.
Still, what would he know and when has he been right about anything?
http://www.independent.co.uk/news/uk/politics/davi...
and a number of other reports.
Still, what would he know and when has he been right about anything?
Interesting letter in the Telegraph this morning...
SIR – William Hague (Comment, December 6) is right about the euro being “a misconceived and terrible blunder” but does not draw the only realistic conclusion. It is Germany that must leave the currency.
Germany has a simple choice: continue paying what amounts to Danegeld in endless bail-outs to southern-European banks and bondholders to keep its exchange rate artificially low, or accept a substantially higher exchange rate and pay for transitional arrangements on its way out of the euro.
Either way, the huge cost to the German taxpayer will be a small price to pay to correct the errors of the past and restore some hope of competitiveness, growth and prosperity in Europe. It would also be a significant step in creating a revitalised and sustainable EU, one that Britain may be happy to rejoin.
Rupert Gather
Chairman, Investec
London W1
loafer123 said:
Interesting letter in the Telegraph this morning...
SIR – William Hague (Comment, December 6) is right about the euro being “a misconceived and terrible blunder” but does not draw the only realistic conclusion. It is Germany that must leave the currency.
Germany has a simple choice: continue paying what amounts to Danegeld in endless bail-outs to southern-European banks and bondholders to keep its exchange rate artificially low, or accept a substantially higher exchange rate and pay for transitional arrangements on its way out of the euro.
Either way, the huge cost to the German taxpayer will be a small price to pay to correct the errors of the past and restore some hope of competitiveness, growth and prosperity in Europe. It would also be a significant step in creating a revitalised and sustainable EU, one that Britain may be happy to rejoin.
Rupert Gather
Chairman, Investec
London W1
Well, that is interesting.SIR – William Hague (Comment, December 6) is right about the euro being “a misconceived and terrible blunder” but does not draw the only realistic conclusion. It is Germany that must leave the currency.
Germany has a simple choice: continue paying what amounts to Danegeld in endless bail-outs to southern-European banks and bondholders to keep its exchange rate artificially low, or accept a substantially higher exchange rate and pay for transitional arrangements on its way out of the euro.
Either way, the huge cost to the German taxpayer will be a small price to pay to correct the errors of the past and restore some hope of competitiveness, growth and prosperity in Europe. It would also be a significant step in creating a revitalised and sustainable EU, one that Britain may be happy to rejoin.
Rupert Gather
Chairman, Investec
London W1
I'm fairly sure the idea of Germany leaving the Euro was aired here a couple of years back.
If not precisely that then something akin to it.
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