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Author Topic: if it all goes tits up  (Read 1102 times)

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millwall

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if it all goes tits up
« on: 09 December 2011, 21:33:13 »

over the weekend and every nation reverts to its former currency what differance would it make and how would uk be
effected.

Answeres please

and not the obvious  there would be Work for people adapting currency conversion rate notice boards, installing many flags ;D
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Rods2

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Re: if it all goes tits up
« Reply #1 on: 10 December 2011, 16:10:02 »

Bad for Germany as it relies on low Euro from PIIGS effect to export its cheap manufactured goods around the world. Also bad for Germany as PIIGS no longer able to afford German goods. Netherlands and Austria will join them to form German speaking currency union.

Bad for France as they have to bail out their banks so their GDP to debt is over 100% and they join PIIGS. France will offer similar currency union to other French speaking countries, which will be very successful, they are battling along alone, but French speaking Somalia have offered to join then. Franc strengthens upon the news and shares in their shipyards rally.  ::) ::)

Bad for Belgium as they will have to bailout zombie bank Dexia further with already over 100% debt to GDP, so they also join PIIGS.

PIIGS now known as FIBPIGS after Greek financial reporting or BIFPIGS after Napoleon Jr (Sarkozy) where France likes to thrown its weight around in Europe.  ;D ;D ;D

Greece good as new currency reflects their economic position. Floats at 1 new dracma to 1 Euro within a week 1,000,000,000 dracma to 1 Euro, so forced to default by 100% on debt rather than 50%, which causes major French banking crisis.  ;D ;D ;D Turkey not happy as cheap Greek holidays takes away much of the tourism increases they have achieved over the last few years, so boost their tourism by unifying Cyprus.  ::) ::) ::)

Italy, do they know, will they care, as it is an excuse to have a national holiday in celebration and massive year long Bunga Bunga party.  ;D ;D ;D

Ireland keeps Euro as they can't afford the cost of a punt on a new currency.  ;D ;D ;D

Spain good as they will increase their tourism, which is boosted still further from massive influx of Brits where you can buy an empty 3 bedroom villa with swimming pool for £99 including taxes.  :y :y Unemployment drops as a result from 22.8% to 22.75%.  ::) ::)

Portugal defaults and in solidarity with Greece, joins dracma currency union, currency strengthens, so now trading at 999,999,998 dracma to 1 Euro.

**** Stop press: **** Latest news. France withdraw their ship from anti-piracy gulf patrol... France mobilizes all their military forces and invades a neighboring country, but is quickly defeated and they have counter attacked, with Sarkozy declaring Paris and open city. Yes, the French really were that desperate to get their hands on Luxembourg's currency reserves.  ;D ;D ;D ;D

It may not be exactly like this, but I'm sure the Eurofarce will be long these lines....  ;D ;D ;D

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Re: if it all goes tits up
« Reply #2 on: 10 December 2011, 17:13:58 »

Bad for Germany as it relies on low Euro from PIIGS effect to export its cheap manufactured goods around the world. Also bad for Germany as PIIGS no longer able to afford German goods. Netherlands and Austria will join them to form German speaking currency union.

Bad for France as they have to bail out their banks so their GDP to debt is over 100% and they join PIIGS. France will offer similar currency union to other French speaking countries, which will be very successful, they are battling along alone, but French speaking Somalia have offered to join then. Franc strengthens upon the news and shares in their shipyards rally.  ::) ::)

Bad for Belgium as they will have to bailout zombie bank Dexia further with already over 100% debt to GDP, so they also join PIIGS.

PIIGS now known as FIBPIGS after Greek financial reporting or BIFPIGS after Napoleon Jr (Sarkozy) where France likes to thrown its weight around in Europe.  ;D ;D ;D

Greece good as new currency reflects their economic position. Floats at 1 new dracma to 1 Euro within a week 1,000,000,000 dracma to 1 Euro, so forced to default by 100% on debt rather than 50%, which causes major French banking crisis.  ;D ;D ;D Turkey not happy as cheap Greek holidays takes away much of the tourism increases they have achieved over the last few years, so boost their tourism by unifying Cyprus.  ::) ::) ::)

Italy, do they know, will they care, as it is an excuse to have a national holiday in celebration and massive year long Bunga Bunga party.  ;D ;D ;D

Ireland keeps Euro as they can't afford the cost of a punt on a new currency.  ;D ;D ;D

Spain good as they will increase their tourism, which is boosted still further from massive influx of Brits where you can buy an empty 3 bedroom villa with swimming pool for £99 including taxes.  :y :y Unemployment drops as a result from 22.8% to 22.75%.  ::) ::)

Portugal defaults and in solidarity with Greece, joins dracma currency union, currency strengthens, so now trading at 999,999,998 dracma to 1 Euro.

**** Stop press: **** Latest news. France withdraw their ship from anti-piracy gulf patrol... France mobilizes all their military forces and invades a neighboring country, but is quickly defeated and they have counter attacked, with Sarkozy declaring Paris and open city. Yes, the French really were that desperate to get their hands on Luxembourg's currency reserves.  ;D ;D ;D ;D

It may not be exactly like this, but I'm sure the Eurofarce will be long these lines....  ;D ;D ;D

Errrr yeah, i'm contemplating, thinking about the possibility of maybe agreeing with this.......if only i understood world economics :-\ :-\ :-[
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Varche

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Re: if it all goes tits up
« Reply #3 on: 10 December 2011, 18:02:08 »

It would be surprisingly easy to do for euro currencies.

It would have to be done at a weekend.

Friday when banks are closed declare a euro is worth an Escudo or Peseta or (insert approriate currency)

Saturday declare that all bank transactions limited to 100 euros equivalent withdrawal per week.

All notes stamped with "equals" new currency until dust has settled and real notes can be printed. Notes can only be exchanged in your own country and with your ID card.

Incidentally all Euros have a letter on them denoting the country they were printed in. I suspect the vast majority of say German Euros are circulating in Germany, ditto for other Euroland countries. Tough for those not.

A week later all the currencies will have found their true value. National debt will have spiralled out of control for the PIIGS. Sterling will look quite strong in relation.

Even German Deutschemarks would be rubbish as their markets can no longer afford a BMW or a VW at 100,000 escudos, 299,000 drachmas or 89,000 pesetas. Britain would be their only market as we would still buy them, our bankers would still need a class motor to pose in.....
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Dishevelled Den

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Re: if it all goes tits up
« Reply #4 on: 10 December 2011, 18:21:01 »

In relation to the OP I would open up the store cupboard then check weapons and position them as required; I would ensure the integrity of my perimeter and come down hard on any bastid that deigns to try to exploit the interim shit-storm by interfering with either me or my wife.

There are a very few simple truths in this life;

1 Food and the ready availability weapons – good.

2 Depending on the forces of ‘law and order’ or the ‘state’ for safety – bad.
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Re: if it all goes tits up
« Reply #5 on: 10 December 2011, 18:43:34 »

Bad for Germany as it relies on low Euro from PIIGS effect to export its cheap manufactured goods around the world. Also bad for Germany as PIIGS no longer able to afford German goods. Netherlands and Austria will join them to form German speaking currency union.

Bad for France as they have to bail out their banks so their GDP to debt is over 100% and they join PIIGS. France will offer similar currency union to other French speaking countries, which will be very successful, they are battling along alone, but French speaking Somalia have offered to join then. Franc strengthens upon the news and shares in their shipyards rally.  ::) ::)

Bad for Belgium as they will have to bailout zombie bank Dexia further with already over 100% debt to GDP, so they also join PIIGS.

PIIGS now known as FIBPIGS after Greek financial reporting or BIFPIGS after Napoleon Jr (Sarkozy) where France likes to thrown its weight around in Europe.  ;D ;D ;D

Greece good as new currency reflects their economic position. Floats at 1 new dracma to 1 Euro within a week 1,000,000,000 dracma to 1 Euro, so forced to default by 100% on debt rather than 50%, which causes major French banking crisis.  ;D ;D ;D Turkey not happy as cheap Greek holidays takes away much of the tourism increases they have achieved over the last few years, so boost their tourism by unifying Cyprus.  ::) ::) ::)

Italy, do they know, will they care, as it is an excuse to have a national holiday in celebration and massive year long Bunga Bunga party.  ;D ;D ;D

Ireland keeps Euro as they can't afford the cost of a punt on a new currency.  ;D ;D ;D

Spain good as they will increase their tourism, which is boosted still further from massive influx of Brits where you can buy an empty 3 bedroom villa with swimming pool for £99 including taxes.  :y :y Unemployment drops as a result from 22.8% to 22.75%.  ::) ::)

Portugal defaults and in solidarity with Greece, joins dracma currency union, currency strengthens, so now trading at 999,999,998 dracma to 1 Euro.

**** Stop press: **** Latest news. France withdraw their ship from anti-piracy gulf patrol... France mobilizes all their military forces and invades a neighboring country, but is quickly defeated and they have counter attacked, with Sarkozy declaring Paris and open city. Yes, the French really were that desperate to get their hands on Luxembourg's currency reserves.  ;D ;D ;D ;D

It may not be exactly like this, but I'm sure the Eurofarce will be long these lines....  ;D ;D ;D

An excellent and amusing synopsis Rod!!  :y 
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cem_devecioglu

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Re: if it all goes tits up
« Reply #6 on: 10 December 2011, 19:12:18 »

"Turkey not happy as cheap Greek holidays takes away much of the tourism increases they have achieved over the last few years"
 
 ;D    Greek hollidays wont be cheap .. never.. 
 
and some facts : Turkeys yearly income from tourism 18-20 billion US$ (taxed amount ???  ) where as total income avg around 550-600 billion US$ .. (before crisis in 2008 it was 730 billion US$)
 
so even if tourism income completely becomes 0, it wont create any crisis here.. ;)  ( only the hotel owners will become poor)
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