Mark Carny on Italian bank collapse

CLAPTON

mwpt wrote: »

I am unsure about this. Euro has worked out well enough for some countries. It could have worked out very well for us actually.

But more personally it would have been great for me because we would have actually got a proper house price correction in 2008 like Europe did (incoming: cells disagreement).

if the euro would have been good for the UK, then presumably you have a view on what the 'correct' exchange rate is against the Euro whilst not being concerned about the rate against the rest of the world.

what is that rate?

mwpt

CLAPTON wrote: »

if the euro would have been good for the UK, then presumably you have a view on what the 'correct' exchange rate is against the Euro whilst not being concerned about the rate against the rest of the world.

what is that rate?

No I don't because your question tries to boil a complex issue into black and white.

CLAPTON

mwpt wrote: »

No I don't because your question tries to boil a complex issue into black and white.

if we had joined the euro then the issue would have been black and white and you would have known exactly what the rate was although not necessarily what it 'ought ' to be

mwpt

CLAPTON wrote: »

if we had joined the euro then the issue would have been black and white and you would have known exactly what the rate was although not necessarily what it 'ought ' to be

Your post contains some statements in what appears to be English. That is about all the positives I can take from it.

CLAPTON

mwpt wrote: »

Your post contains some statements in what appears to be English. That is about all the positives I can take from it.

if we had joined the euro then the issue would have been black and white.

you would have known exactly what the rate was.

although not necessarily what it 'ought ' to be.

Thrugelmir

mwpt wrote: »

No I don't because your question tries to boil a complex issue into black and white.

That's precisely the issue with the current structure of the EU. Too simplistic a vision. Worry about the consequences afterwards.

AG47

It's ok the banks are innocent of these crimes

They told us "we have investigated ourselves and we are innocent"

AG47

CLAPTON wrote: »

if we had joined the euro then the issue would have been black and white.

you would have known exactly what the rate was.

although not necessarily what it 'ought ' to be.

Then we could just type in new currency into our central bank account from thin air like we do now

I bet Greece wished they could create currency from thin air, but if your using euro then only the unelected unaccountable beurocrates can do that

CLAPTON

AG47 wrote: »

Then we could just type in new currency into our central bank account from thin air like we do now

I bet Greece wished they could create currency from thin air, but if your using euro then only the unelected unaccountable beurocrates can do that

no idea what point you are trying to make.

Quasar

So what is happening then? What about the allegedly tottering Italian banks? I see nothing about them on foreign sites. Can MSE experts give some clue?