Reply to: Eurozone debt crisis soon to be over

[BlasterBates]

Record jump in German confidence and satisfactory Spanish bond sale boosts Euro

Two comments worth noting:

the worst of the euro zone crisis might be over due to the reaction of the central bank and the rescue mechanism.

Take note of the following:

11.55 TSC: UK is seen as a safe haven at the moment, but we want the eurozone to get act together. If it does we will no longer be a safe haven.

Looks like the pound might be coming under pressure.

[Arturo Bassick]

How many cretins does it take to tell the difference between being a member of the Euro zone and being a member of the IMF?

[darmstadt]

Alot of Chinese speak English - about time that Europe adopted a common language.

A lot of Europe already does, probably a tad better than a lot of the UK :-(

[BlasterBates]

Ironic isn't it? I thought the whole point of staying out of the Euro was to be independent from it.

Indeed who's going to sink faster?

[Sysman]

I don't worry about the Euro banks debt because most of it is in the UK financial sector, and will be bailed out by the UK government.

UK to handover billions more to save the Euro

Ironic isn't it? I thought the whole point of staying out of the Euro was to be independent from it.

[Doggy Styles]

Ok who's on cretin watch today? I'm busy.

I can't be arsed at the moment. His economic posts are like a football team celebrating a corner whilst losing six-nil.

[eek]

Just to add some more detail. One of the problems is that the UK is dependent on financial services, and the City is shrinking fast.

The City is the fastest shrinking financial centre

London is shrinking because its got things that may need to shrink a bit.

If your financial centre consisted of 1 man and a dog and you get rid of the man the financial centre has shrunk by 1 (but also be 50%).

If your financial centre employs 1 million and 50,000 go then you you've lost 50,000 people which is a lot. It is however only 5% of all people employed in that sector.

So the article is technically right but as with everything you write its also totally wrong.

[BrilloPad]

The City is the fastest shrinking financial centre

Asia will save us - eGov monitor - A Policy Dialogue Platform | Promoting Better Governance . Alot of Chinese speak English - about time that Europe adopted a common language.

[BlasterBates]

Ok who's on cretin watch today? I'm busy.

Just to add some more detail. One of the problems is that the UK is dependent on financial services, and the City is shrinking fast.

The City is the fastest shrinking financial centre

[eek]

Ok who's on cretin watch today? I'm busy.

Sorry I'm watching Greece leave the euro. Well keeping a track on the today's meeting outcome which will be Greece defaulting.

[BrilloPad]

...the Euro rises again against the pound and Italian yields continue to drop. If Greece actually agree the haircut with creditors and with the pound zone increasingly looking like it won't hold together, one can't help feeling that the pound may continue to sink against the Euro.

When the Scots get booted out of the union (why should they get the choice if to stay or go?) they will join the Euro. At least then Greece will no longer be the weakest member. And sterling will be boomed.

The market has already factored in a 60% haircut. But realistically 90% or more is needed. And then the fun will start.

[sasguru]

...the Euro rises again against the pound and Italian yields continue to drop. If Greece actually agree the haircut with creditors and with the pound zone increasingly looking like it won't hold together, one can't help feeling that the pound may continue to sink against the Euro.

Ok who's on cretin watch today? I'm busy.

[BlasterBates]

...the Euro rises again against the pound and Italian yields continue to drop. If Greece actually agree the haircut with creditors and with the pound zone increasingly looking like it won't hold together, one can't help feeling that the pound may continue to sink against the Euro.

[BrilloPad]

The only way this is going to end is with countries dropping out of the Euro. Printing money will delay the inevitable by a few years.

[sasguru]

Watching you cretins discuss economics must be akin to an anthropologist watching some long-hidden Amazonian tribe as they discuss advanced technology for the first time.