Greece debt farce - the end of the Euro?
- Thread starter WeLuvIbiza
- Start date
Nobody in Brussels or America is interested in the "common people".
A select few are only interested in protecting their assets. In society there is now a Hugh gulf opening between the very rich and the so called "common people". Last time that happened Madame Guillotine swiftly resolved that problem.The middle classes have been wiped out due to unemployment, higher taxes and lower wages.
The riots in London, the middle eastern popular uprising, and now with what has happened yesterday, there will be a rising by the people in Europe.
An unelected president of Europe?? A German/American/French controlled central government with sweeping fiscal powers.
The smaller states in the Eurozone will not agree to this. How were just 2 countries like Germany and France allowed to come up with this plan without the input of all member states??
Its done nothing to calm the markets which are now looking at a debt to gdp ratio in the eurozone of 85%!!!!.
Its interesting that this agenda is being pushed through by stealth when all parliaments are on holiday.
Last edited by a moderator:
Yes that and the simple fact that the rules keep changing all the time.
The Markets rely heavily on regulation. When a currency and its fundamental laws keep changing due to whatever crisis it encounters, how is anybody expected to trade confidently in it.
The whole system is broken.
I believe the demise could be very near in it's current format because it's obvious that no thought has gone into (since it's introduction) how a single european currency can actually work. I for one am seriously thinking about closing my european bank account
Cheers
WeLuvIbiza
Active Member
The euro will outlive the dollar. A lot has happened since this thread started, the euro has come of age, the founders have played their hand and shown it is here for good.
China own the US, it is simply a matter of time before the U S of A are not the worlds biggest economy, less than the previous ten year prediction. A twist of fate or pre meditated takeoever?
We are all basically ferooked, stock pile your ammo, and party like your life depended upon it
China own the US, it is simply a matter of time before the U S of A are not the worlds biggest economy, less than the previous ten year prediction. A twist of fate or pre meditated takeoever?
We are all basically ferooked, stock pile your ammo, and party like your life depended upon it
The euro will outlive the dollar. A lot has happened since this thread started, the euro has come of age, the founders have played their hand and shown it is here for good.
China own the US, it is simply a matter of time before the U S of A are not the worlds biggest economy, less than the previous ten year prediction. A twist of fate or pre meditated takeoever?
We are all basically ferooked, stock pile your ammo, and party like your life depended upon it
China is like any mortgage lender, they will do what they can to keep you paying. A default would leave them with nothing. The euro may last because the alternative is too frightening. The Euro zone countries will have to do something to reduce the debt load of the member countries. If you look back in time the 1930's and the late 70's and 80's the US debt situation was worst. The USA can move on it own, which is an advantage it has over the Euro zone. Kondratiev wave cycle at it's best
WeLuvIbiza
Active Member
The lines in the sand have moved, the USA can't move without the say so of China. True they are massively disadvantaged if they don't keep buying the bonds, but China is in the driving seat of every game in town, you know it, I know it, every man and his dog knows it. We don't dictate the rules of the game any more, we nod on approvingly.
One of the things that most people miss is that China is just like the west now. There is a huge gulf between the have and have nots. China will have to start consuming things themselves and let imports in. The cheap labor will run out at sometime, they are already seeing unrest.
WeLuvIbiza
Active Member
Interesting developments recently.
The China bigwigs in talks with Italian bigwigs re: buying a lot of their debt and investing in Italian companies. Has been touted before but interesting all the same.
The China bigwigs in talks with Italian bigwigs re: buying a lot of their debt and investing in Italian companies. Has been touted before but interesting all the same.
Greece is economically dead. There is no way of rescuing it now as the austerity measures smother growth in their economy, therefore restricting the Greeks ability to pay it all back. The Troika know this and the markets are predicting, with a 90% forecast, that the Greeks will default. Sarcozy, Merkle and Trichet are just buying time and looking for a way out to rescue their political careers.
The French banks are exposed the most to Greek and now Italian debt. Once the Greek default explodes, then the true reality of the Euro banking problem will be exposed for all to see. Fake assets on balance sheets, derivatives and other dodgy accounting will surface. Greece is only the tip of the iceberg. The banking crisis in Europe is systemic and not just a Greek, Irish, Italian or Portuguese problem.
Once the French Banks start to collapse then all bets are off. I think Germany will say enough is enough and stop bailing people out. They will leave the Euro and go back to their own currency leaving the rest of Europe to sort out their own mess.
The French banks are exposed the most to Greek and now Italian debt. Once the Greek default explodes, then the true reality of the Euro banking problem will be exposed for all to see. Fake assets on balance sheets, derivatives and other dodgy accounting will surface. Greece is only the tip of the iceberg. The banking crisis in Europe is systemic and not just a Greek, Irish, Italian or Portuguese problem.
Once the French Banks start to collapse then all bets are off. I think Germany will say enough is enough and stop bailing people out. They will leave the Euro and go back to their own currency leaving the rest of Europe to sort out their own mess.
WeLuvIbiza
Active Member
Inflation will go crazy if the French banks go down
At the moment you can get a pint of Tennants for €3 and a Budweiser for €4. The Tourist places will charge you more like anywhere..
But prices are coming down and after the Queens visit a lot more English tourists are visiting.
You can now get a Hotel room in Dublin for €39 and there are some excellent deals about, mainly due to banks owning a lot of the hotels....
