Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
.. the markets confidence (or lack of) in the Euro is really coming home to roost.
The European Stability Fund that is supposed to bail-out ailing Eurozone members may need bailing out itself!
There was a sale today of 10-year bonds by the European Financial Stability Facility.
They barely managed to get €3 billion it targeted. Yet they offered an good yield, of 90 basis points.
How much longer can this farce stagger on. Reality must dawn on the European politicians soon with their sticking plaster solutions coming apart.
Keith Sansum1
- Location: london
- Registered: 25 Aug 2010
- Posts: 23,942
but barryw your dave says its best to stay in the eu
lets not forget that
ALL POSTS ARE MY OWN PERSONAL VIEWS
Brian Dixon
- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
and we are all innit together.
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
What I find laughable, is that G. Osborne is doing everything he can try to help the euro, to pump hundreds of billions of pounds/euros into the failing euro, trying to get Britain and Europe to invent the money to pour into this bankrupt currency.
He must think that money grows on trees, and must be of the exact opposite opinion to Barry on this matter.
I sometimes think that Barry is of a complete different Conservative party than Osborne and Dave, as they seem to express complete opposite opinions sometimes, in particular regards Europe and the euro.
I tend to agree more with Barry, but wonder what Barry would say if Gordon Brown had said exactly the same words that G. Osborne said about "saving the euro".
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
Actually Alexander - unlike DC and GO I am not tied by the needs of coalition and diplomacy. As always politicians in power do not always have the freedom to act by their instincts and/or even provide caveats. Even as a councillor I sometimes had to swallow hard about some things I had to do and say.... it is so much worse in government. I love the freedom to say it as it is.
Guest 696- Registered: 31 Mar 2010
- Posts: 8,115
As said, Barry, I tend to agree with you on many issues - not everything, mind - but Osborn seems to be putting the boot in over a dead euro
.
I think he's joking, when he tells European ministers they must back the euro. Being clinically dead, the euro cannot last long, but to invest hundreds of billions into it would be sheer suicidal
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
Alexander - as I said he is doing what he has to do which is not necessarily what he wants to do. That is what happens when in government.
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
cameron/osbourne supporting the euro to keep the pound afloat,unheard of these days of euroscertisam.
Guest 653- Registered: 13 Mar 2008
- Posts: 10,540
Sorry Brian, not sure what you are saying above; do you mean keeping the Pound afloat and did you mean "Euro-Scepticism" ?
Roger
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
Brian doesnt know what he means Roger
Brian - keeping the European economy afloat is what is important for the UK as they are a major trading partner. The Euro is currently sinking the Eurozone economy. Osborne is saying exactly what diplomacy requires of him.
Having said that - I have just read that he is getting somewhat tougher in what he says about the vacillating Eurozone governments. Still a lot of diplomatic overtones though, what he says is less important than what he means.
Brian Dixon- Location: Dover
- Registered: 23 Sep 2008
- Posts: 23,940
barry/roger,of course i know what i mean other wise i wouldnt have posted what i did.
osbourne is a frightend chanceler if the euro dissapears so will the pound,then we all have to invent a new currency.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
if the euro disappears then everyone reverts to their original currency, no problem for us.
big problems for businesses for a long period.
Guest 640- Registered: 21 Apr 2007
- Posts: 7,819
You can see the jittery situation at the moment, markets in chaos.. shooting up and down in unpredictable fashion like a shuttlecock off a racket, and at the merest whim. Shooting upwards on the merest whisker of non-news, plummeting again when that news turns sour. Even though the news item in the first place was of miniscule importance.
Just imagine then the immediate chaos if 17 nations suddenly abandoned their Euro currency. The world trade situation would be thrown into the utmost chaos...and an ongoing affshoot, an eternal miserable near nuclear winter of hunger and poverty would follow.
Maybe one day stability would come back but it would be a long time coming. But watch the supermarket prices before then...with China and India outbidding us, and the individual currencies, in the ensuing food war. Might sound far fetched but is it!!?
As I understood the reading of the situation, the bulk of the nations in the Euro still want to continue in the Euro, there is no desire by any of them as of yet to get out of it. Even the Greeks who dont like the austerity, dont want to leave it..although it might be forced upon them in the end by the other member states. Greece outside the Euro would struggle in a frozen other world, belonging to nobody or nowhere.
howard mcsweeney1- Location: Dover
- Registered: 12 Mar 2008
- Posts: 62,352
there will be a lot of teething problems if everyone returns to their original currency i do not think the general effect will be that serious though, if someone wants to sell to someone who wants to buy deals will be done.
the economies in the east would do nothing harm europe as they are dependent on selling things to them.
Guest 698- Registered: 28 May 2010
- Posts: 8,664
PaulB you are being alarmist. The financial markets and business community will easily adapt back to individual currencies. That's the way it used to be - remember?
I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
Guest 655- Registered: 13 Mar 2008
- Posts: 10,247
Everyone returning to their own currencies will not happen.
What is likely is that the Euro will split into 2 or 3 currencies. Possibly 4.
This necessary to start economic recovery and they will also have to start dealing with their excessive spending and make big cuts.
Guest 698- Registered: 28 May 2010
- Posts: 8,664
I disagree Barry. Any mini Eurozone will inevitably fall apart in due course.
I'm an optimist. But I'm an optimist who takes my raincoat - Harold Wilson
