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Spain.. A moment of clarity on my part

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Comments

  • oldvicar
    oldvicar Posts: 1,088 Forumite
    This reminds me: I must get a haircut* this weekend.


    *at the barbers / styling salon.
  • pqrdef
    pqrdef Posts: 4,552 Forumite
    homelessskilledworker wrote: »
    Everything has been thrown at this crisis since 2007, options are now nearly exhausted.
    Nothing proportionate yet. All too little too late. All the politicians hoping that perhaps it's not really all that bad and they can get away with half measures.
    "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 Lewis
  • Mistral001
    Mistral001 Posts: 5,432 Forumite
    Part of the Furniture 1,000 Posts Name Dropper I've been Money Tipped!
    edited 8 June 2012 at 11:48AM
    pqrdef wrote: »
    But we don't even know which euros would be turned into new drachmas, and which would still be euros. Presumably somebody does, and the value of that information is inconceivable. All hell will be let loose if it leaks out.

    Do not worry the day the banks do not have full contingency plans in place for such things is the day hell will freeze over. All big firms have contingency plans in place for all sorts of things. Banks are no different I would imagine.
  • Mistral001
    Mistral001 Posts: 5,432 Forumite
    Part of the Furniture 1,000 Posts Name Dropper I've been Money Tipped!
    edited 8 June 2012 at 11:51AM
    I cannot see the big player, Germany, bending over backwards to bail out much more unless they get something for it. They have just gone through years of pumping billions into the old East Germany to help out their own people who had been effectively imprisoned for decades in a communist state. Will they help out Greece who for years has been spending much more than they can afford on a very comfortable public sector and pensions for themselves and Spain, well they did build themselves a lot of nice houses and apartments didn't they?
  • homelessskilledworker
    homelessskilledworker Posts: 1,664 Forumite
    Mistral001 wrote: »
    Do not worry about it you can rest assured that the banks have full contingency plans in place. All big firms have contingency plans in place for all sorts of things. Banks are no different.



    You are joking right?
  • Mistral001
    Mistral001 Posts: 5,432 Forumite
    Part of the Furniture 1,000 Posts Name Dropper I've been Money Tipped!
    homelessskilledworker wrote: »
    You are joking right?

    No I am not it is just a technical matter afterall. I think someone mentioned that maybe the Greek Euros would have to be stamped if presented to the bank and used as temporary Drachmas until they have enough Drachmas printed.
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    Mistral001 wrote: »
    No I am not it is just a technical matter afterall. I think someone mentioned that maybe the Greek Euros would have to be stamped if presented to the bank and used as temporary Drachmas until they have enough Drachmas printed.


    the matter of adding or removing a currency is a trivial matter as it's happened quite alot (USSR, Yugoslavia, Czech & Slovakia)

    the issue is what impact it may do to the economies
  • Mistral001
    Mistral001 Posts: 5,432 Forumite
    Part of the Furniture 1,000 Posts Name Dropper I've been Money Tipped!
    edited 8 June 2012 at 2:55PM
    CLAPTON wrote: »
    the matter of adding or removing a currency is a trivial matter as it's happened quite alot (USSR, Yugoslavia, Czech & Slovakia)

    the issue is what impact it may do to the economies

    Tell us more please do.
  • missile
    missile Posts: 11,806 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    I have no idea where the euro is headed and I don't believe anyone else does either.
    I am so pleased that I got my savings out of my Spanish bank, just in case.:j
    "A nation's greatness is measured by how it treats its weakest members." ~ Mahatma Gandhi
    Ride hard or stay home :iloveyou:
  • Zorz_2
    Zorz_2 Posts: 324 Forumite
    100 Posts
    Something interesting from inside Spain:
    http://elpais.com/elpais/2012/06/05/inenglish/1338898871_396646.html

    In my opinion, it resonates a lot with what happens in Greece as well....
    You wanna hear about my new obsession?
    I'm riding high upon a deep recession...
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