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Greece...
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Another step closer to default and the Eurozone going down the pan. Italy and Spain are already on the edge and the market will turn on them in a big way.0
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...But the whole concept of the Eurozone was built on false economies - every member state, excluding the UK, lied through their back teeth (economically speaking) to get in - and the UK didn't join!
Now it's coming back to bite their butts - Greece is but the first! How long for Spain, Portugal, Italy, ROI, etc etc
The only way, IMO, Greece can come out of this is to reinstall their own currency. When a country gives away it's ability to 'adjust' it's currency according to market forces there's only one way to go and that ain't upwards!
Of course, this isn't what Ms Germany 2012 wants! And, she is willing to pump as much into propping up this economy, based on lies, as needby (and for as long as the electorate will stand).
Thank the heavens we didn't join this Mickey Mouse club.0 -
At long, long last, it maybe seems that more & more people are finally realising that, as many have said for years now (yes, years!!), a default will be the best way to go. Whether or not that can now happen on an orderly basis is very questionable. Having said that, if it doesn't happen now, it will happen, for sure, at some point in the future. The problem is, that if it happens in the future, there will be a !!!! load of taxpayer money that will have been shovelled into a massive gaping hole in the ground in the meantime!There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...0
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Graham_Devon wrote: »So were back (yet again) to EU ministers trying to play hard line, while we all know full well the money will be given (unless something actually changes!!
IMHO it's now becoming a more difficult call, maybe 50/50? Funding in V Default?There is a pleasure in the pathless woods, There is a rapture on the lonely shore, There is society, where none intrudes, By the deep sea, and music in its roar: I love not man the less, but Nature more...0 -
I thought my 6 month estimate on Greece before it all disintegrated again after Sundays vote was overly optimistic, but I did expect it to last more than two days.
There is no other option but for Greece to default. It will be a messy default because too many of the Euro elite have put their pride on keeping the Euro intact before common sense.[FONT="]“I've learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.” ~ Maya Angelou[/FONT][FONT="][/FONT]0 -
I thought my 6 month estimate on Greece before it all disintegrated again after Sundays vote was overly optimistic, but I did expect it to last more than two days.
LOL. Actually made me laugh that did!
The whole situation is absolutely crazy. What I would like to know is howcome the markets are just literally taking no notice whatsoever?0 -
I'm shorting the Footsie. The Footsie is waiting until I give up and bail out, and then it will plummet.Graham_Devon wrote: »The whole situation is absolutely crazy. What I would like to know is howcome the markets are just literally taking no notice whatsoever?"It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
Just as a modest proposal, could we have a new rule for broadcasters whereby anyone who advocated Britain joining the Euro is henceforth forced to wear a dunce's cap whenever they pontificate?0
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I thought my 6 month estimate on Greece before it all disintegrated again after Sundays vote was overly optimistic, but I did expect it to last more than two days.
There is no other option but for Greece to default. It will be a messy default because too many of the Euro elite have put their pride on keeping the Euro intact before common sense.
They took the risk by keeping them going, now the whole of Europe is going to get hit.0 -
Just as a modest proposal, could we have a new rule for broadcasters whereby anyone who advocated Britain joining the Euro is henceforth forced to wear a dunce's cap whenever they pontificate?
no, as that would be most of the CBI, bankers, great and the good, captains of industry, lib dems, BBC pundits, FSA bosses etc0
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