Will the Euro survive the economic crisis?

[BlasterBates]

The Euro countries have been forced into austerity budgets, so things will calm down next year. The positive is that Greece is a pretty small part of the EU, but has brought the excessive spending to a head, without bankrupting the entire EU. If the UK gets a hung parliament it's f****ed because it'll require an austerity package similar to Greece, and there's no way British workers will accept that. In other words it's more or less doomed to bankruptcy before the politicians develop a will for an austerity package.

[AtW]

At some point the German may decide to write off the Euro (and their wasted "investments") as a bad thing and re-introduce a new currency: the Deutche Mark.

It will never* happen.

* Not in the next 1000 years.

[sasguru]

It will never* happen.

* Not in the next 1000 years.

A bit like the 1000 year Reich, eh?
Poor AtW, still underestimating the power of the markets.
The Euro was a fundamentally poor idea in the first place (because it shoe-horned non-homogenous economies into the same strait-jacket) and the markets always punish poor economic ideas.

[sasguru]

The Euro countries have been forced into austerity budgets, so things will calm down next year. The positive is that Greece is a pretty small part of the EU, but has brought the excessive spending to a head, without bankrupting the entire EU. If the UK gets a hung parliament it's f****ed because it'll require an austerity package similar to Greece, and there's no way British workers will accept that. In other words it's more or less doomed to bankruptcy before the politicians develop a will for an austerity package.

Nonsense as usual.
Greece is so bankrupt that even if it accepts the austerity it is still likely to default.
And the bond markets are already showing their belief that both Portugal and Spain are bankrupt.
After all when's the last time you used a Greek, Portuguese or Spanish product (apart from olive oil )
The UK still has a few centres of excellence and is not in such a bad state as those 3, but the cake is too small and a natural level of unemployemnt here is about 15-20%.

[BlasterBates]

Nonsense as usual.
Greece is so bankrupt that even if it accepts the austerity it is still likely to default.
And the bond markets are already showing their belief that both Portugal and Spain are bankrupt.
After all when's the last time you used a Greek, Portuguese or Spanish product (apart from olive oil )
The UK still has a few centres of excellence and is not in such a bad state as those 3, but the cake is too small and a natural level of unemployemnt here is about 15-20%.

You've hit the nail on the head.

"We're alright Jack"

Do you honestly think the UK will sort it's finances out when everyone regularly stand to attention and sing Rule Britannia?

The pound is going down the pan, next year according to the experts.

[sasguru]

?

The pound is going down the pan, next year according to the experts.

What's the problem if the pound loses value, unless you're going on holiday?
The Greeks, Spanish et al would love to have the option of devaluation.
What exports we do have will become so cheap, everyone will buy our stuff.
Cheap arms, jet engines and pharmaceuticals for everyone


Boomed!

[AlfredJPruffock]

You've hit the nail on the head.

"We're alright Jack"

Do you honestly think the UK will sort it's finances out when everyone regularly stand to attention and sing Rule Britannia?

The pound is going down the pan, next year according to the experts.

Aye BB

But your good self and others forecsast that back in in the winter of 2009 - the boots on the other foot now !

[sasguru]

Some of us had the right idea 3 years ago ...

[Mich the Tester]

Luckily I can't see the latest cretinism that the twat has responded with as he's on my ignore list

It was something to do with Argentina impoverishing its people to pay government debt, which would be quite a performance from a country with 8.5% gdp growth, the highest incomes in Latin America, a well educated public and rapidly falling poverty rates.

[Jog On]

EUR/USD is above it's descending trendline but not looking that bullish as it's not making higher highs and higher lows. Might be going into a consolidation... I see a resistance pivot level at about 1.4620 which could be a nice short opportunity possibly back down to the 1.4 level.