Ambrose Evans-Pritchard on tip-top form in EU doom mode

[AlfredJPruffock]

Yeah, of course it will. Especially if you vote Labour.

If everybody else is voting Labour - you'd be a fool not to.


Houses going up - more jobs -banking bonuese back - yep its looking rosy for No 10.

Especially as there is a lot of talk of them bringing back that nice Mr Saxon and his wife Lucy.

[DimPrawn]

Certainly one in the eye for the doomsters on this board who were speculating on Sterling-Euro Parity last year - Sterling has been making great gains in the past week now trading at 1.15 -at this rate its going to be hitting 2.00 by mid-February - Nice !

Yeah, of course it will. Especially if you vote Labour.

[AlfredJPruffock]

Certainly one in the eye for the doomsters on this board who were speculating on Sterling-Euro Parity last year - Sterling has been making great gains in the past week now trading at 1.15 -at this rate its going to be hitting 2.00 by mid-February - Nice !

[DimPrawn]

Gold Drops 2.4%, Silver Down 4.6% as Stocks Slide

Excellent news!

More great buying opportunities.

[TimberWolf]

Buy gold. You can sell it later into any currency you like.

They can't print gold and it is a very liquid market.

Sorted.

Gold Drops 2.4%, Silver Down 4.6% as Stocks Slide

[Doggy Styles]

"Half a century of ever-closer union has created a “new legal order” that transcends a “largely obsolete concept of sovereignty” and imposes a “permanent limitation” on the states’ rights." - European Central Bank

Translation: "We rule you. You are not free to do what you want any more."

Is that a fair interpretation?

[DimPrawn]

Buy gold. You can sell it later into any currency you like.

They can't print gold and it is a very liquid market.

Sorted.

[AtW]

Sounds like the whole rotten enterprise is about to collapse like a sack of you-know-what.

Ok, Greece drops out of eurozone, thus removing lots of debt tied to euros - nice, what about pound?

Euro is a reserve currency these days - GBP isn't.

[OwlHoot]

ECB prepares legal ground for euro rupture as Greek crisis escalates

Fears of a euro break-up have reached the point where the European Central Bank feels compelled to issue a legal analysis of what would happen if a country tried to leave monetary union.

“Recent developments have, perhaps, increased the risk of secession (however modestly), as well as the urgency of addressing it as a possible scenario,” said the document, entitled Withdrawal and expulsion from the EU and EMU: some reflections.

The author makes a string of vaulting, Jesuitical, and mischievous claims, as EU lawyers often do. Half a century of ever-closer union has created a “new legal order” that transcends a “largely obsolete concept of sovereignty” and imposes a “permanent limitation” on the states’ rights.

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* Germany contracts 6pc as eurozone bank deposits fall at fastest rate since Depression

Those who suspect that European Court has the power pretensions of the Medieval Papacy will find plenty to validate their fears in this astonishing text.

Crucially, he argues that eurozone exit entails expulsion from the European Union as well. All EU members must take part in EMU (except Britain and Denmark, with opt-outs).

This is a warning shot for Greece, Portugal, Ireland and Spain. If they fail to marshal public support for draconian austerity, they risk being cast into Icelandic oblivion. Or for Greece, back into the clammy embrace of Asia Minor.

:::

Sounds like the whole rotten enterprise is about to collapse like a sack of you-know-what.

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