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What will BoE do if euro collapses?

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    What will BoE do if euro collapses?

    Print more money of course!

    "A senior official for the Bank said the measures would "again play [their] part in mitigating the impact" of Greece or other countries leaving the single currency.

    The comments come after the head of the IMF suggested last week that British interest rates may have to be cut to zero if the economic situation deteriorates.

    The Bank has already completed a quantitative easing programme, effectively printing more money worth £325billion and this may be extended again.

    Yesterday, David Cameron hosted a meeting with Sir Mervyn King, Governor of the Bank; Lord Turner, the chairman of the Financial Services Authority; and the Chancellor, to discuss contingency plans to deal with the collapse of the euro.

    There is growing speculation that Greece may be forced out of the euro following new elections next month, if a coalition government cannot be formed that will back austerity measures. "

    Source: Bank of England prepares plans for euro collapse - Telegraph

    #2
    Originally posted by zeitghost
    Doomed etc.

    Spend it all now while it's still worth something.

    Before long we'll be using £50 notes as lavatory paper.
    You mean you don't

    Admin
    Knock first as I might be balancing my chakras.

    Comment


      #3
      Originally posted by suityou01 View Post
      You mean you don't

      Admin
      I get £100's shipped down from Scotland. I don't like the feel of euros otherwise I'd use their €500 notes

      Comment


        #4
        What will BoE do when euro collapses?

        Comment


          #5
          Originally posted by Bunk View Post
          I'd use their €500 notes
          BBC News - 500 euro note - why criminals love it so

          Comment


            #6
            Originally posted by mrdonuts View Post
            What will BoE do when euro collapses?
            They need an excuse to print more money.

            Comment


              #7
              Originally posted by BrilloPad View Post
              They need an excuse to print more money.
              WHS

              They do not even bother to explain exactly WHY they will need to do it - in theory if euro (the only 2nd reserve currency besides dollar) crashes then lots of money should seek safe heavens like Sterling surely?

              Comment

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