A chilling summary of the Euro crisis

Bruv · Post by **Bruv** » Tue May 29, 2012 10:50 am

25 Signs That The Smart Money Has Completely Written Off Southern Europe

Frightening or what ?

gmc · Post by **gmc** » Tue May 29, 2012 12:01 pm

It was smart money that got us in to this mess. smart money is shitting itself that perhaps they have gone too far and they are about to get smacked around by the people who are suffering because of them. Economists have created a fantasy world for themselves where people are just cogs in their machine it doesn't work and never will - who knows we might see a return to classic liberal capitalism instead of what is masquerades as it nowadays but I think it will take the curtailing of the banks and their influence first. The only people who create wealth are those who grow things or make tghings to sell- all else either helps that process or becomes parasitical. The banks have become parasites. Americans have been predicting the collapse of the eu for decades America is in bigger **** heap than we are they just don't know it yet. This rot started in America we were stupid enough to go along with it.

Clodhopper · Post by **Clodhopper** » Wed May 30, 2012 3:31 pm

Spain is certainly looking very wonky just now, and Robert Peston on the BBC site was also going on about the flight of money from south to north. Greece appears to be moving towards accepting the EU's conditions, if the latest polls are to be believed. Who knows what will happen? Not me, that's for sure. If things do go kerplumph, it could happen very fast indeed - remember our exit from the Euro?

...think I'll just turn on the telly and check...

Bruv · Post by **Bruv** » Wed May 30, 2012 3:39 pm

Clodhopper;1394840 wrote: ...................remember our exit from the Euro?

To be honest.....no.

Clodhopper · Post by **Clodhopper** » Wed May 30, 2012 4:16 pm

As I recall it the thing went public about lunchtime, and by the evening we were out.

Bruv · Post by **Bruv** » Wed May 30, 2012 4:22 pm

Clodhopper;1394877 wrote: As I recall it the thing went public about lunchtime, and by the evening we were out.

All together now "In out, in out, shake it all about, we do the hokey kokey................."

Thought we only ever spoke about it.

Clodhopper · Post by **Clodhopper** » Wed May 30, 2012 4:25 pm

...sorry. I meant the ERM, not the Euro...

Bruv · Post by **Bruv** » Wed May 30, 2012 4:27 pm

Clodhopper;1394883 wrote: ...sorry. I meant the ERM, not the Euro...

Erm err erm.....yes that's probably correct.

Clodhopper · Post by **Clodhopper** » Thu May 31, 2012 1:26 am

chuckle.

Whatever it is, Spain doesn't appear to have fallen/run screaming out of it yet. But Italy, Greece and Spain, all basket cases? Can they really keep it together?

Bruv · Post by **Bruv** » Thu May 31, 2012 4:10 am

Clodhopper;1394914 wrote: chuckle.

But Italy, Greece and Spain, all basket cases? Can they really keep it together?

I genuinely believe we are ALL basket cases, and try as much as we can we will fail to keep it all together.

We are all riding on the back of a tiger, hanging on for dear life, afraid to fall.

Clodhopper · Post by **Clodhopper** » Fri Jun 01, 2012 5:02 am

Could be mate. I've no certainties in this area.

Spain is least safe on the tiger at present. We're not even on the Tiger, we're in a cart it's pulling along...

Post by **Oscar Namechange** » Fri Jun 01, 2012 8:54 am

I think we should all get down on our knee's and Thank His Lushiness and Gorgeousness for keeping us out of the Euro.

In Fact, I think we should demand a statue In Hyde Park to honour the great man.

AnneBoleyn · Post by **AnneBoleyn** » Fri Jun 01, 2012 3:01 pm

oscar;1395101 wrote: I think we should all get down on our knee's and Thank His Lushiness and Gorgeousness for keeping us out of the Euro.

In Fact, I think we should demand a statue In Hyde Park to honour the great man.
Who is Mr. Lushengorgeous?

AnneBoleyn · Post by **AnneBoleyn** » Fri Jun 01, 2012 3:04 pm

Someone should censor Lushengorgeous.

:yh_think:yh_ooooo:yh_shame

Post by **Oscar Namechange** » Fri Jun 01, 2012 3:12 pm

AnneBoleyn;1395175 wrote: Who is Mr. Lushengorgeous? The greatest Prime Minister Britain ever had. Gordon Brown

Attached files

Bruv · Post by **Bruv** » Fri Jun 01, 2012 3:14 pm

Your on a wind up ain't cha?

Post by **Oscar Namechange** » Fri Jun 01, 2012 3:16 pm

Bruv;1395184 wrote: Your on a wind up ain't cha? Que ????

gmc · Post by **gmc** » Sat Jun 02, 2012 12:32 am

oscar;1395181 wrote: The greatest Prime Minister Britain ever had. Gordon Brown

Pass the sick bag.

Clodhopper · Post by **Clodhopper** » Sat Jun 02, 2012 3:26 am

Well, the current crisis seems to boil down to Bankia maybe needing a whopping bail out and Spain maybe not having the readies to do it if required - and then the question of whether Europe has the readies to bail out Spain if needed. That's one possible kerplumph scenario.

The other appears to be that to get out of its current economic situation, Spain needs to do the opposite with its interest rates to what the Euro is currently doing. And the only way it can do that is to leave the Euro. Possible kerplumph no.2.

That's leaving out Greece, which is an entire other set of possible kerplumphs, and Italy, which appears to be in the naughty corner but no worse at present.

That about it?

edit: While I'm at it, it seems that the only European country to benefit from the current interest rate situation is Germany, and it remains to be seen what will happen in a clash between Germany's economic power and Europe's political power.

Clodhopper · Post by **Clodhopper** » Mon Jun 04, 2012 4:44 am

Update.

George Soros is one of the international financiers I listen to when he speaks. Here's the core of it for those who can't link to the site:

He said he believed Greece would elect a government willing to abide by loan conditions imposed by the EU in this month's elections.

But he said the German economy would begin to weaken in the autumn, making it much harder for Chancellor Angela Merkel to provide further support.

He said leaders did not understand "the nature of the crisis".

He said that while European leaders were focusing on debt levels, the crisis was "more of a banking problem and a problem of competitiveness".

For this reason, he said they had "applied the wrong remedy".

"You cannot reduce the debt burden by shrinking the economy, only by growing your way out of it," he added.

Link to article:

BBC News - George Soros says three months to save the euro

Post by **Oscar Namechange** » Mon Jun 04, 2012 9:06 am

gmc;1395258 wrote: Pass the sick bag.
I think It's a boak bag In your neck of the woods.....

Now correct me If I'm wrong but didn't his wonderfulness achieve a landslide In your neck of the woods?

:p:p:p