The Euro crisis

Aspiring_Writer

Right, I will do some research of my own regarding what each country owes each other.

Then we can take it from there.

Jimmy_31

Aspiring_Writer wrote: »

Right, I will do some research of my own regarding what each country owes each other.

Then we can take it from there.

I think i know what you mean.

Cancel all the debts that exist between all the countrys, and then the citizens of these countrys just carry on working, spending and paying their bills as normal.

I would like to know if this could work as well.

I bet what i have written is not what you meant:rotfl:

de1amo

İn the once much heralded global business world if one entire entity defaulted then it would send such a shock wave through the system that no one would be immune--the americans are running scared- the chinese arent jumping to the rescue because they know the western world has been living beyond its means for the past 20 years and it doesnt want to be dragged down for 'our' greed.-we have made our bed!

İ live in Asian where credit control is uppermost in the Government's mind and house prices are kept low. -the western world has created its own debt and more and the reckoning day is approaching fast!

Aspiring_Writer

Jimmy_31 wrote: »

I think i know what you mean.

Cancel all the debts that exist between all the countrys, and then the citizens of these countrys just carry on working, spending and paying their bills as normal.

I would like to know if this could work as well.

I bet what i have written is not what you meant:rotfl:

yeah it is Jimmy, exactly what I'm getting at.

Aspiring_Writer

de1amo wrote: »

İn the once much heralded global business world if one entire entity defaulted then it would send such a shock wave through the system that no one would be immune--the americans are running scared- the chinese arent jumping to the rescue because they know the western world has been living beyond its means for the past 20 years and it doesnt want to be dragged down for 'our' greed.-we have made our bed!

İ live in Asian where credit control is uppermost in the Government's mind and house prices are kept low. -the western world has created its own debt and more and the reckoning day is approaching fast!

Spot on. We have been living well beyond our means, and now, like you say, it's coming home to roost, in a very painful way.

I don't know of course how all this is going to play out, but I have a feeling a serious 'correction' is on the cards within the next 5 years max.

When did you escape to Asia btw?

Jimmy_31

Aspiring_Writer wrote: »

yeah it is Jimmy, exactly what I'm getting at.

Im getting good at this me:)

Generali

drc wrote: »

So, for short term reprieve we are likely to have an ever greater problem further down the line. Who pays for these bailouts - the taxpayer? If so, surely the taxpayer is going to revolt at some point?

Governments are bailing out banks and each other. That costs money.

Ultimately a Government has 3 ways of getting money: she can tax her citizens, she can print some or she can go to war and tax someone else's citizens.

At some point taxpayers will revolt. The trouble is that this is being presented as something that 'Must Be Done' so my fear is that taxpayers will only revolt once things get so bad it's too late to go back.

de1amo

cameron has finally twigged it--he is saying the uk is under constant attack from bureaucracy due to Ec and realises the uk has no power to stop the 17 inner european countries making it worse--as their unity tightens! We have sat on the fence and sense from his language that it is time we did something positive before its too late! the germans will want to contract the city of london further and centralise its revenues within the euro'zone!

i left the uk 5 years ago and it was the best thing financially and lifestyle wise--i have bought into property and have a thriving business. My investing is done in gold because i sense all this will end up with high inflation.

drc

Well, the flaws in the deal are already becoming apparent;

http://www.telegraph.co.uk/news/worldnews/europe/eu/8854382/Eurozone-bail-out-holes-emerge-in-the-grand-solution-to-solve-EU-debt-crisis.html

de1amo wrote: »

i left the uk 5 years ago and it was the best thing financially and lifestyle wise--i have bought into property and have a thriving business. My investing is done in gold because i sense all this will end up with high inflation.

Sounds great! Where do you live de1amo?

Catapa

For the Anglo-Saxon press the Euro will always be in danger of collapse. Talking down the Euro is crucial to maintaining the Dollars role as a reserve currency (the world lending money to the Yanks) and to control inflation in Dollar printing America and Sterling printing Britain. When $0.82 or 68 pence bought a Euro it was named toilet currency, now that the Euro stands at $1.40 / £1.14 the Daily Telegraph, Mail and the media controlled by the Murdochs, Diamonds etc make their readers believe that the Euro is about to disappear.

Of course there are problems in the Euro area as everywhere else but they can be solved. I just hope that her Majesty's government manages to solve the British crisis in debt, housing, education, unemployment, youth unemployment, social security fraud, defense overspend, wars, lack of infrastructure investment, obesity, national health, ...