Omega Owners Forum
Chat Area => General Discussion Area => Topic started by: Nickbat on 15 February 2010, 00:11:52
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Société Générale thinks so:
"The European single currency is facing an 'inevitable break-up' a leading French bank claimed yesterday.
Strategists at Paris-based Société Générale said that any bailout of the stricken Greek economy would only provide 'sticking plasters' to cover the deep- seated flaws in the eurozone bloc."
I love this bit:
"Earlier this week Business Secretary Lord Mandelson's claimed that the single currency had been a 'remarkable success' and that it remained in Britain's interests to join."
Lord Mandlebum is seriously dim! ;) >:(
http://macedoniaonline.eu/content/view/12424/53/
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does this mean we can go on holiday in Europe again? a week in spain cost us 30% more last year.
I've seen the Greek bail out covered in the news but, is it me, or are they playing it down in the media? maybe i've not been paying attention?
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does this mean we can go on holiday in Europe again? a week in spain cost us 30% more last year.
I've seen the Greek bail out covered in the news but, is it me, or are they playing it down in the media? maybe i've not been paying attention?
Thing is, Chris, there is no bail out at the moment, just words. And, from the same news agency, comes word that the majority of Germans don't want Greece to be bailed out...just thrown out
A majority of Germans want debt-ridden Greece to be thrown out of the euro zone if necessary and more than two-thirds oppose handing Athens billions of euros in credit, a poll published on Sunday showed.
http://macedoniaonline.eu/content/view/12428/46/
Interesting times ahead, methinks. ;)
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does this mean we can go on holiday in Europe again? a week in spain cost us 30% more last year.
I've seen the Greek bail out covered in the news but, is it me, or are they playing it down in the media? maybe i've not been paying attention?
Thing is, Chris, there is no bail out at the moment, just words. And, from the same news agency, comes word that the majority of Germans don't want Greece to be bailed out...just thrown out
A majority of Germans want debt-ridden Greece to be thrown out of the euro zone if necessary and more than two-thirds oppose handing Athens billions of euros in credit, a poll published on Sunday showed.
http://macedoniaonline.eu/content/view/12428/46/
Interesting times ahead, methinks. ;)
yes i was right then, i havent been paying attention. :D
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"Is the Euro doomed?"
Hope not. I get my pension next year and most of it will be paid in Euros. :( :( :(
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As I am sure most of you are aware the euro is produced with each countries design on one side.
It has been reported that Germany is only accepting German euros !
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Never wanted anything to do with Europe - voted against in 73 and would have voted NO if there had been a referendum - our island fortress in the UK has always been our strength and protection from the financial storms in Europe, they have everything to gain from us and nothing to give >:(
seriously, folks - if we adopted the Euro as our national currency we would be worse off, and we would be washed down the plughole .... ::)
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I have been following the ups and downs of the euro for very obvious reasons. Quite a lot of the Brits we know who have retired here with pensions paid in Stirling and then converted into euros have suffered a 30 to 45% DROP in income from 2 years ago. ( Yes I do know it was their choice etc)
The media seems to be concentrating on the poor state of Greece and as a secondary concern the even poorer state of Spain and suggesting that unless they are bailed out by other EU euro mechansims they may have to leave the euro. Well maybe just maybe the Germans ought to leave the euro and revert back to the Mark. Now tThat would truly be a powerful currency!! ;D
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Any bail out of greece will be merely a sticking plaster over an amputated leg.
What is happening now is the second part of global financial collapse - Sovereign Debt.
Portugal,Ireland,Italy,Spain and Greece all on the point of defaualting.As we will be without draconian cuts in spending come the new Gov't.
Spending cuts that will further increase an already under reported unemployment figure putting strain on the grossly exaggerated increase in productivity (0.1 % for last quarter,yeah right and the adjusted figure will be a net decline).
1 in 8 (1 in 5 here in Leeds) commercial properties empty and boarded up will seem like a prosperous dream in the next couple of years.
Not forgetting that many banks are still bankrupt and have managed to keep off their accounts the massive amount of toxic debt they still have, expect more pleading and hand wringing and threats to collapse the economy even further unless they can some more cash.
No banking reform and the interest rates at nearly 0% just increase the ability to borrow cheap money and speculate, just the thing that helped f*** up world in the first place.
Those lucky enough to be in employment are having hours cut, pay cut, voluntarily or not for fear of being laid off.Huge influx of school leavers still to come on employment figures.
Reducing university places through spending cuts,not just Mickey Mouse courses, Leeds University has reduced money to Biological Sciences Faculty and is asking lecturers to re-apply for their jobs hoping to reduce staff by 30%.
It's going to get worse.The financial stimulus packages haven't stimulated anything and when these are withdrawn ant of the so called 'Green shoots' of recovery will quickly wither and die.
Country hasn't a pot to p**s in and our over reliance on the financial/service sector for wealth production has left us without any kind of manufacturing ability with which to manufacture our way out.
Blindly supporting U.S. quest to support it's failing global economic hegemony with it's quest for military hegemony(see Obama's budget and it's increase in Pentagon budget and, contrary to nuclear non-proliferation treaty which it signed, further spending on 2 new Uranium and Plutonium enrichment plants and development of new nuclear warheads).Money that could be more profitably spent elsewhere.
Not to mention the obscene amount we pay to Europe.
The Euro may be doomed but so is the Pound,Dollar,Yuan at the hands of currency speculators.
Total global amount of CDS and CDO's is estimated to be $700 trillion.
Total global GDP $70 trillion.
So the total amount owed in these is 10x the worlds GDP.
Hmmmmmm! someone wasn't watching??
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Very interesting post
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Never wanted anything to do with Europe - voted against in 73 and would have voted NO if there had been a referendum - our island fortress in the UK has always been our strength and protection from the financial storms in Europe, they have everything to gain from us and nothing to give >:(
seriously, folks - if we adopted the Euro as our national currency we would be worse off, and we would be washed down the plughole .... ::)
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Absolutely. :y
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I have been following the ups and downs of the euro for very obvious reasons. Quite a lot of the Brits we know who have retired here with pensions paid in Stirling and then converted into euros have suffered a 30 to 45% DROP in income from 2 years ago. ( Yes I do know it was their choice etc)
The media seems to be concentrating on the poor state of Greece and as a secondary concern the even poorer state of Spain and suggesting that unless they are bailed out by other EU euro mechansims they may have to leave the euro. Well maybe just maybe the Germans ought to leave the euro and revert back to the Mark. Now tThat would truly be a powerful currency!! ;D
That's a stupid place to have your pension paid to if you're living in Spain. :) :) :)
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A long way to go to the Post Office. :o ::) ;D ;D
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with a bit of luck we might get a better €/£ exchange this year in France than we did last year ....it was virtually parity :'(
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with a bit of luck we might get a better €/£ exchange this year in France than we did last year ....it was virtually parity :'(
that was my thinking, i can remember a euro costing 64p....must be, what, 5 years ago now though?