The Euro crisis

drc

Whenever I read the papers about the Euro crisis they always refer to a vague time at which a deal must be reached in order to avert a crisis. This vague "moment of no return" seems to be perpetually delayed. What is the actual trigger for which this moment would actually be reached i.e. what has to happen for the Euro to have officially "failed" and will this be a gradual thing or something which could just happen suddenly (like a sudden collapse of the world markets like Oct 2008)?l

nearlynew

It's just more lies, denial and propoganda.

A total collapse of our current financial system and the corrupt institutions which support it is the only real solution. They know it and I know it.

They can shove their austerity, increased taxes and bailouts up their 4rse.
Ordinary people around the world are waking up to the lying and thieving that has taken place and have had enough.

The growing protests taking place around the world are evidence of this. They may not have a unified message but they all know something is wrong and change needs to come.

Eventually they will each realise that despite their defferent gripes, the root cause of their problems is the same - our corrupt debt based money system and the bank that controls it and our politicians.

Money reform is THE only sustainable, long term solution.

drc

nearlynew wrote: »

It's just more lies, denial and propoganda.

A total collapse of our current financial system and the corrupt institutions which support it is the only real solution. They know it and I know it.
.

But is this really likely to happen? It looks like the powers that be will just keep putting on sticking plasters to avert disaster. However, my original question was whether there really is a specific point of no return and if so, what does this actually look like (i.e. who/what is the piper that needs to be paid to avert financial collapse)? Is it a case of bank runs/Lehmans on a much larger scale (the banks that Greece owes money to not being able to pay creditors)?

wotsthat

The triggers will be events not deadlines. An arbitrary decision by Greece to default and leave the Euro, a significant terrorist attack, the German government deciding that to continue on this path might lead to stability but an election defeat.

Graham_Devon

Specific point of no return is when Greece doesn't get it's tranche of sticking plasters.

Greece have to hit certain targets in order to get these plasters, or there will be no plasters.

Greece don't hit these targets, so we give them plasters anyway.

Until this stops, there will be no real crisis, i.e. default.

Thats my, VERY simplistic view. But seems it's shared by Peston from the BBC, allbeit, he uses lots of big words to say so.

Many many things could mean witholding the plasters. US, politics, EU warfare, markets.

RenovationMan

Graham_Devon wrote: »

Thats my, VERY simplistic view. But seems it's shared by Peston from the BBC, allbeit, he uses lots of big words to say so.

I hear Peston is a big fan and follows your blog closely.

ILW

nearlynew wrote: »

Money reform is THE only sustainable, long term solution.

What is money reform?

nearlynew

ILW wrote: »

What is money reform?

this will give you a flavour ...

http://www.moneyreformparty.org.uk/

pqrdef

I'd say the likeliest scenario is a collapse in the market price of Italian government bonds. Would you lend to the Italians when the Mad Barber of Berlin is standing there with her big scissors just itching to give you a haircut?

George Soros reckons it's not the time to bet against the euro, because too much is staked on it. Like Americans, Euro-politicians will do the right thing when they've exhausted all alternatives.

Maybe not these politicians though. Sarkozy and Berlusconi are on the way out. Merkel may have to go as well. The danger is that the German voters might swing the wrong way.

bendix

nearlynew wrote: »

It's just more lies, denial and propoganda.

A total collapse of our current financial system and the corrupt institutions which support it is the only real solution. They know it and I know it.

They can shove their austerity, increased taxes and bailouts up their 4rse.
Ordinary people around the world are waking up to the lying and thieving that has taken place and have had enough.

The growing protests taking place around the world are evidence of this. They may not have a unified message but they all know something is wrong and change needs to come.

Eventually they will each realise that despite their defferent gripes, the root cause of their problems is the same - our corrupt debt based money system and the bank that controls it and our politicians.

Money reform is THE only sustainable, long term solution.

For someone who was on this forum not so many months ago, wondering what to do with daddy's inheritance, you don't have come across as an angry malcontent.

Generali

It's ok now. Everything's sorted. Merkozy and Squirtle have fixed everything.