The end of the EURO???

[Zander]

The Euro is in a free-fall, and governments will fall, the only question is whether or not they fall peacefully. The problem isn’t just Greece, the problem isn’t just Portugal, or even Spain…all three of which are basket cases.

The real problem is Germany... how long do you think the Germans will be willing to accept massive bailouts of their EU brethren, working twice as hard, suffering under a stifling taxation burden… to support the failed and corrupt socialist experiments of Greece, Portugal and Spain?

 

[Baruch Menachem]

Tuesday

 

[roomy]

YAY and HOORAH

 

[Toro]

The eurozone as is is untenable.

 

[roomy]

It caused me to cancel my plans to holiday in Cyprus.

 

[Oddball]

Germany and France are next.

So much for OPEC trading in Euros.

 

[Baruch Menachem]

How long has it lasted? 10 years?

 

[California Girl]

The Euro is in a free-fall, and governments will fall, the only question is whether or not they fall peacefully. The problem isn’t just Greece, the problem isn’t just Portugal, or even Spain…all three of which are basket cases.

The real problem is Germany... how long do you think the Germans will be willing to accept massive bailouts of their EU brethren, working twice as hard, suffering under a stifling taxation burden… to support the failed and corrupt socialist experiments of Greece, Portugal and Spain?

Excuse me?


What?


The Germans work what?


Twice as hard?


Germans?


Work?


Twice as hard as who?





Brits will see the funny side of this. Germans... working twice as hard....

 

[PoliticalChic]

Germany and France are next.

So much for OPEC trading in Euros.

Actually, those two are the strongest.

Ireland, Portugal, Italy and Spain are most frequently mentioned.

 

[California Girl]

Germany and France are next.

So much for OPEC trading in Euros.

Actually, those two are the strongest.

Ireland, Portugal, Italy and Spain are most frequently mentioned.

You're right.

 

[roomy]

The Germans pay Turks to do the work

 

[California Girl]

The Germans pay Turks to do the work

Like the Brits pay the Poles.

 

[Oddball]

Germany and France are next.

So much for OPEC trading in Euros.

Actually, those two are the strongest.

Ireland, Portugal, Italy and Spain are most frequently mentioned.

Right, they're the strongest....Which tells us all just how deeply in trouble the Euro and EU are.

 

[roomy]

The Germans pay Turks to do the work

Like the Brits pay the Poles.

Fucking useless Polish taxi drivers

 

[Toro]

There was a rumour on Friday that France was going to default, but that was BS. France has a better fiscal position than Britain.

The line of fire in order is

Portugal
Spain
Italy
the UK

That's how the dominoes will fall.

I'm short the pound.

 

[ekrem]

Summary of article regarding the 750 billion € EU+IMF package:

- Merkel:
We didn't do more than buy time to get the differences in competitiveness and budget deficits of eurozone countries in order

- ECB (European Central Bank) chief economist Juergen Stark:
We bought time, not more than that

- Jean Claude Trichet. chief of ECB:
Europe in most difficult situation since World War II, or perhaps even since World War I.

LINK: Greece package only buys time, Merkel says - Hurriyet Daily News and Economic Review

 

[ekrem]

German Households Are More Indebted Than Rescued Greeks
with Charts on Link
LINK: German Households Are More Indebted Than Rescued Greeks: Chart of the Day - Bloomberg

On CNN-Turk on morning-economic programme they said European private companies have debts equaling +- the economic output of EU.

 

[ekrem]

 

[California Girl]

There was a rumour on Friday that France was going to default, but that was BS. France has a better fiscal position than Britain.

The line of fire in order is

Portugal
Spain
Italy
the UK

That's how the dominoes will fall.

I'm short the pound.

The UK won't fall. It's not in the Eurozone (Yay for one smart decision by Blair/Brown). It's new government is about to announce an emergency budget to find £6b to bring down the deficit.

True story: when the new Treasurer got into his new office, he found a note from the old Treasurer (apparently, that's the done thing, they leave a letter detailing any issues that need to be dealt with asap). Note read: "There is no money left".

The UK is in the crapper, but not as badly as the others. I think having held on to its own currency will be what saves the UK.

 

[The Rabbi]

The Euro has been an important and valuable part of prosperity in Europe. They will not jettison it anytime soon.
But they might jettison Greece, which has caused all this through lies and mismanagement. They would be on strong grounds, with Greece having violated its agreements.
I would look for the Eurozone to become smaller.
And Toro is going to lose his butt shorting the pound.