What will BoE do if euro collapses?

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AtW replied

29 May 2012, 20:33
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?
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BrilloPad replied

29 May 2012, 19:39
Originally posted by mrdonuts View Post

What will BoE do when euro collapses?

They need an excuse to print more money.
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AtW replied

29 May 2012, 11:47
Originally posted by Bunk View Post

I'd use their €500 notes

BBC News - 500 euro note - why criminals love it so
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mrdonuts replied

29 May 2012, 11:36
What will BoE do when euro collapses?
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Bunk replied

29 May 2012, 11:36
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
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suityou01 replied

29 May 2012, 11:32
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
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AtW started a topic What will BoE do if euro collapses?

29 May 2012, 11:22
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
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