EU comes to Greece's rescue

[Tarquin Farquhar]

Darling says there are no plans to use UK taxpayers' money to bail out Greece, but personally I doubt if Brown will be able to resist such a juicy opportunity to throw a staggering amount of our money at a single currency that we didn't even join, to put us and our children even more in debt for longer. This might be his last big chance.

[doodab]

Darling says there are no plans to use UK taxpayers' money to bail out Greece, but personally I doubt if Brown will be able to resist such a juicy opportunity to throw a staggering amount of our money at a single currency that we didn't even join, to put us and our children even more in debt for longer. This might be his last big chance.

Brown seems to be of the opinion that they sort it out themselves or get the IMF in, making the quite valid point that us and the rest of the G20 already pledged funds to the IMF for just this sort of situation.

The EU don't want that cos the little french fellow with the hot wife doesn't like the head of the IMF.

Or something.

[Tarquin Farquhar]

Brown seems to be of the opinion that they sort it out themselves or get the IMF in, making the quite valid point that us and the rest of the G20 already pledged funds to the IMF for just this sort of situation.

The EU don't want that cos the little french fellow with the hot wife doesn't like the head of the IMF.

Or something.

The USA doesn't get the IMF in, does it? So the EU can't get the IMF in, or its currency will look less imposing.

[Jog On]

is this going to send the euro up or down?

Dirty spekulant!!! Turn yourself into the nearest police station ze now!

Euro is down by the way - just as well my EUR trades are all short

[AtW]

Give it time...

Euro is down by the way - just as well my EUR trades are all short

GBP lost around 2% against EUR in the last couple of weeks...

[chef]

Didn't pounds used to be worth €1.50?

yes, but that was over 2 years ago, now

1 British pound = 1.13129039 Euros

according to google, which on average for the last few months that's been about the norm

[Jog On]

GBP lost around 2% against EUR in the last couple of weeks...

I'm short on GBP as well

[Tarquin Farquhar]

I'm short on GBP as well

I'm short on pretty well everything

[Jog On]

I'm short on pretty well everything

Been long on the Aussie all week - woke up this morning and it was like Christmas all over again

[doodab]

yes, but that was over 2 years ago, now

1 British pound = 1.13129039 Euros

according to google, which on average for the last few months that's been about the norm

Yeah I was really just pointing out that 2% here or there isn't a big deal compared to the rather dramatic decline in the value of sterling at the end of 2008. I reckon €1.12 - €1.15 is the new trading range, you won't see a significant long term movement away from that until the recovery begins in earnest and interest rates start going up.

The PIIGS have been stuffed for ages, that's been priced into the market already IMO, no one seriously expects a default from an EU member state.