Euro is a "dangerous currency" built on "debt and trickery" says German magazine ...

[sasguru]

Too early to draw conclusions. What we're seeing is not a currency crisis (i.e. hyperinflation or devaluation, countries exiting etc) what we're seeing is a debt problem. Greece has too much debt, and so do one or two other countries. This wasn't brought about by a currency problem like a sudden devaluation, it was caused by governments spending too much money. Whether there would be a Euro or fixed exchange trades as before wouldn't make any difference to the fact that banks in the EU have leant heavily to the indebted nations. If there hadn't been the Euro Greece would have issued DM bonds (like Argentina did, and defaulted) and the French and German banks would have lapped them up, and Spain Portugal and Ireland would have done exactly the same. The same problem was going to occur, i.e. too many countries getting in over their ears in debt at the same time, and banks looking for high returns. Just check out their involvement in Credit Derivatives to see they weren't looking closely. If it was Greece alone they could default without problem, the problem is Spain Portugal and Italy are heavily in debt as well, and a chain reaction might be set off unless the default is managed properly. Remember Argentina still had to default even though it's currency devalued, so devaluation is not a solution to a potential credit crunch. It's just the combined default of all these countries would put not just the Eurozone into an abyss, but the whole world. But even after this the Euro will still be a strong stable currency, because it's not a Euro that needs to be saved.

Your powers of analysis and logical thought are very weak indeed, are they not?
As I've pointed out before you cannot separate the debt of the countries that use a currency from that currency.
If the countries default someone will have to pay, check out the value of the Euro then.

[Mich the Tester]

Your powers of analysis and logical thought are very weak indeed, are they not?
As I've pointed out before you cannot separate the debt of the countries that use a currency from that currency.
If the countries default someone will have to pay, check out the value of the Euro then.

I'm a northern European taxpayer with the top part of my income in the Dutch 52% scale. Unfortunately as I do not quite earn 5,000 squillion euros a year I can't afford to pay off Greece's debts AND rescue the Dutch and German banks from all those dodgy mortgages. You'll all have to choose I'm afraid. No wait, I'm paying, so I should be choosing!

[sasguru]

I'm a northern European taxpayer with the top part of my income in the Dutch 52% scale. Unfortunately as I do not quite earn 5,000 squillion euros a year I can't afford to pay off Greece's debts AND rescue the Dutch and German banks from all those dodgy mortgages. You'll all have to choose I'm afraid. No wait, I'm paying, so I should be choosing!

You'll certainly be paying. Bend over and get your lube ready.

[DimPrawn]

You'll certainly be paying. Bend over and get your lube ready.

I bet you say that to all the boys.

[Mich the Tester]

You'll certainly be paying. Bend over and get your lube ready.

<<checks if any lube is left from rescues of ING, ABN Amro and Fortis>>

I've run out; find someone else's arse this time! I'm going to fook off to Latin America at this rate. I'll pay cash for a nice little flat near Buenos Aires and the rest of you can shove your financial crises up your bums!

You might get the sense that all this paying for other people's mess is beginning to annoy me; well yes, it is, and it's beginning to annoy another 100 million or so northern Europeans. Trouble is, we don't seem to have any alternatives.

[DimPrawn]

<<checks if any lube is left from rescues of ING, ABN Amro and Fortis>>

I've run out; find someone else's arse this time! I'm going to fook off to Latin America at this rate. I'll pay cash for a nice little flat near Buenos Aires and the rest of you can shove your financial crises up your bums!

You might get the sense that all this paying for other people's mess is beginning to annoy me; well yes, it is, and it's beginning to annoy another 100 million or so northern Europeans. Trouble is, we don't seem to have any alternatives.

Lend us a tenner?

[Doggy Styles]

Why the totally irrelevant dig at PCG? Are you some kind of mentalist?

First, it is obviously a dig at the analytical abilities of some PCG members at that time, not a dig at the PCG.

Second, it is totally relevant because, as I said, that's where I heard it. It caused a bit of a debate at the time where, you won't be surprised to know, I was on the other side of the fence.

[Mich the Tester]

Lend us a tenner?

Here you are; they're ten a penny since my mate Merv left his coffee cup on top of the 'photocopy' button;

[v8gaz]

First, it is obviously a dig at the analytical abilities of some PCG members at that time, not a dig at the PCG.

Second, it is totally relevant because, as I said, that's where I heard it. It caused a bit of a debate at the time where, you won't be surprised to know, I was on the other side of the fence.

So how many of 20,000 members stated a view? Enough to be statistically significant? Was it stated as PCG policy? Perhaps they were AA members as well? WTF was the significance of them being PCG members?

I think you might be happier with the other schoolkid PCG haterz in Shiite99. Brainc99, is that you?

[Doggy Styles]

So how many of 20,000 members stated a view? Enough to be statistically significant? Was it stated as PCG policy? Perhaps they were AA members as well? WTF was the significance of them being PCG members?

I think you might be happier with the other schoolkid PCG haterz in Shiite99. Brainc99, is that you?

Why don't you fuck off with your assumptions. I don't hate the PCG, I've always supported the PCG. I'm a fully paid-up and proud member of the PCG.

I said it was on the PCG forums where it was discussed in the early days of the euro. It is irrelevant how many said it, the fact is that's where they said it. I didn't say it was PCG policy.

You do the PCG no favours if people start thinking all our members are oversensitive cretins like you.