Reply to: Greeks to worship the Dollar the Euro is a false god

[pghero808]

Honestly, that's why I voted Exit, anyways.

I mean literally all the money is all electronic, so I'd imagine in the next decade, will it really matter what currency you're paying with?

That is, in terms of convenience.

Of course, for trading and securities it will matter what currency you're dealing with, but for everyday things - could hardly care less.

[BlasterBates]

Devaluation and the Drachma won't solve Greece's problems. A badly run economy is a badly run economy.

Argentina's economy

Argentina is South America's second largest economy but for much of the 21st century it has convulsed under the mismanagement of former leftist populist President Cristina Fernandez de Kirchner and her late husband Nestor Kirchner. While the 1990s were marked by fast economic growth, accusations of corruption, and a troubling economic collapse, the last decade has been defined by nonsensical policies, gross economic mismanagement, and serious accusations of corruption. Right now Argentina is struggling with stagflation, its unemployment rate is just under 10% and inflation is high at around 40%.

[eek]

You have to live here to answer that question. There is never going to be a return to currency exchanges between the members.

I've travelled to three EU countries in the last couple of weeks. Each time I reached into my wallet I pulled out the same currency to pay for services, ski passes if you must know. No nonsense no fuss.

Ireland has but repaid its debt. Spain and Portugal are doing rather well. The arguments calling for the Euro's end is reaching fever pitch as the temperature here remains the same.

There is a big difference between can I use the same currency in all the countries I visit (yes its a big plus) and will Germany pay the money required to support poorer countries when needs must.

The latter has been shown to be a big No when it came to Greece, the question is when Italy has problems can Germany afford for Italy to go bankrupt...

Don't answer that by the way as I already know the answer which is why I voted Exit - one day the Euro will break apart...

[scooterscot]

The only future for the Euro is further fiscal integration. But is there even the appetite to do this in Germany?

You have to live here to answer that question. There is never going to be a return to currency exchanges between the members.

I've travelled to three EU countries in the last couple of weeks. Each time I reached into my wallet I pulled out the same currency to pay for services, ski passes if you must know. No nonsense no fuss.

Ireland has but repaid its debt. Spain and Portugal are doing rather well. The arguments calling for the Euro's end is reaching fever pitch as the temperature here remains the same.

[scooterscot]

Some say that the country that should leave the Euro the save the EU is Germany.

Germany should leave euro zone: Mervyn King

It's an interesting idea that IMO has a lot of merit.

Says the man presided over the financial crisis. But still that did not stop him retiring with honours and a stupid pension. Why should we be listening to Mr rewards for failure?

Sir Mervyn King admits BoE failed over financial crisis

[Antman]

I think that it's hotel california for the Euro countries.

How would re-domination of the old currency work? The arguments about which bit belongs to who and the massive currency flows whilst speculators bet on that just don't make sense as a way forward.

The only future for the Euro is further fiscal integration. But is there even the appetite to do this in Germany? Until then the Southern countries will continue to see their GDPs squeezed whilst Germany's running the show with their surplus.

[Platypus]

Some say that the country that should leave the Euro the save the EU is Germany.

Germany should leave euro zone: Mervyn King

It's an interesting idea that IMO has a lot of merit.

[vetran]

Read on and carry on etc rinse and repeat.




source: The Daily Mail: Women Are Evil, Immigrants Are Evil and the EU Is Too - SPIEGEL ONLINE

complete tripe, every day its Kardassians & some poor rapper the Met thought was a burglar (that must have been unpleasant for him - muppets!) The London Mayor & various MPs seem to appear frequently.

Nice to see people form their opinion based on the colour of people most would consider that racist. You realise 87.2% of the population is white, 3% are actually black?

[scooterscot]

The Daily Mail's Dark Worldview

Read on and carry on etc rinse and repeat.

The Daily Mail's Dark Worldview

As British newspapers go, the Daily Mail is a bit like Marmite. People either love it or hate it.

Britain's Daily Mail is infamous for spreading hatred and fear. The newspaper has become even more shrill following Brexit. Wikipedia banned use of the publication as a reference last week, but the decision is unlikely to change much.

At least 1.5 million people love it enough to buy it every day, making it second only to the Sun in the list of top selling newspapers. It is popular in small towns and private gyms, in waiting rooms at the dentist. You'll find it on the front-seat of SUVs driven by full-time moms, and in the front rooms of the white middle-aged middle class who take it with instant coffee and probably a biscuit. Unlike most British newspapers (including my own), it is profitable.

But among the metropolitan elite it is loathed with a fury. Because of the division it sows, the xenophobia it peddles (there are virtually never black faces in its pages, unless they are criminals or sports stars) the boundaries it pushes, the causes it espouses: Immigration is evil, social welfare is evil, working women are evil, Europe is evil, aid is evil, the BBC is evil ...

Now, Wikipedia has made up its mind. Editors at the online encyclopedia have decided that the newspaper has become so unreliable that it should not be used as a reference.

"The Daily Mail should not be used for determining notability, nor should it be used as a source in articles," a Wikipedia editor wrote. "An edit filter should be put in place, going forward to warn editors attempting to use the Daily Mail as a reference."

source: The Daily Mail: Women Are Evil, Immigrants Are Evil and the EU Is Too - SPIEGEL ONLINE

[PurpleGorilla]

Greeks to worship the Dollar the Euro is a false god

Something you should also consider is the amount of gold Italy has. They could take a swipe at their debt to bring in to normal GDP levels if they wanted to. That's quite a chip to be holding.

Who's going to buy it?

[DimPrawn]

Meanwhile in Germany....

ZEW Press Release: Downturn in Expectations

The ZEW Indicator of Economic Sentiment for Germany records a decrease of 6.2 points in February 2017. The indicator now stands at 10.4 points. "The downturn in expectations is likely to be the result of the recently published unfavourable figures for industrial production, retail sales and exports. Political uncertainty regarding Brexit, the future US economic policy as well as the considerable number of upcoming elections in Europe further depresses expectations.

[scooterscot]

The problem both Italy and Greece has is that their economies both worked by using inflation to deal with their unproductive economy and bad lending decisions. The Euro stopped them from doing so but they haven't been able to solve their economic structural issues (and their bank's willingness / ability to make stupid loans).

Something you should also consider is the amount of gold Italy has. They could take a swipe at their debt to bring in to normal GDP levels if they wanted to. That's quite a chip to be holding.

[scooterscot]

Do you expect the Greeks to keep receiving handouts after they've gone? After all, you're expecting us to keep paying in.

With interest rates next to zero, free money is everywhere.

[eek]

I need to read in detail his argument but from the top level headline

WTF

you dollarize an economy to bring stability to it and in theory remove inflation - the Euro has already shown how likely that is to work (although its worth pointing out the US usually has more inflation than Germany likes).

The problem both Italy and Greece has is that their economies both worked by using inflation to deal with their unproductive economy and bad lending decisions. The Euro stopped them from doing so but they haven't been able to solve their economic structural issues (and their bank's willingness / ability to make stupid loans).

[BlasterBates]

...and Trump will wade in with several billion to bail them out and no strings attached to the bail out loan



Even if they did it wouldn't freak out the Germans, they'd be shut of the problem. I don't quite know where this "the Germans are freaking out" comes from.