Eurozone will collapse... - Page 13

Will21st · 07-11-2011, 13:19

Quote:

Originally Posted by Alan Fry

europe has to make a move on by creating a united states of europe

Well,that may actually work.... it's this or get out completely.

denphone · 07-11-2011, 13:19

Quote:

Originally Posted by Hugh

Please let it be so....

---------- Post added at 12:56 ---------- Previous post was at 12:54 ----------

A) bastion

B) the Greeks tried ignoring the Financial Markets - how's that working out for them?

A) Damn my spelling must get better.

B) Ah the financial markets the tool of capitalism and stock market crashes.

**Hugh** · 07-11-2011, 14:16

Re b)

Ah, the instant meaningless emotive soundbite answer....

Dai · 07-11-2011, 15:10

Quote:

Originally Posted by Hugh

Ah, the instant meaningless emotive soundbite answer.

In fairness, that makes as much sense as anything the experts have managed to come up with so far.

To my simple mind it just seems that the whole western world has been living well beyond it's means for a long time. If I lived my personal life the same way I'd probably have the bailiffs hammering at my door by now.

**Hugh** · 07-11-2011, 15:20

In total agreement with you on that one.

devilincarnate · 07-11-2011, 16:09

Quote:

Originally Posted by Hugh

Re b)

Ah, the instant meaningless emotive soundbite answer....

Could you put that in something that I'am able to understand

denphone · 10-11-2011, 06:15

http://www.guardian.co.uk/business/2...rozone-breakup

Quote:

Fears that Europe's sovereign debt crisis was spiralling out of control have intensified as political chaos in Athens and Rome, and looming recession, created panic on world markets.

Quote:

Reports emerging from Brussels said that Germany and France had begun preliminary talks on a break-up of the eurozone, amid fears that Italy would be too big to rescue.

Quote:

Financial regulators across Europe were last night carefully monitoring the health of their heavily exposed banks, amid concern that the turmoil could lead to a debt default, or even the break-up of the euro.

Sirius · 10-11-2011, 06:54

Quote:

Originally Posted by Alan Fry

europe has to make a move on by creating a united states of europe

And why in hell would WE want or need that ?

Alan Fry · 10-11-2011, 09:58

we need a united states of europe so that europe can no longer be draged down by 5 european nations, europe itself is doing fine except for those 5 european nations (italy, spain, ireland, portugal and greece)

and another thing, britain and france germany are no longer major powers, let alone superpowers, why do the frist two have perminant sercurty conciil places and india does not

if europe was one it would be a superpower, espcially if it included the all the eu and cis nations

denphone · 10-11-2011, 10:10

Quote:

Originally Posted by Alan Fry

we need a united states of europe so that europe can no longer be draged down by 5 european nations, europe itself is doing fine except for those 5 european nations (italy, spain, ireland, portugal and greece)

and another thing, britain and france germany are no longer major powers, let alone superpowers, why do the frist two have perminant sercurty conciil places and india does not

if europe was one it would be a superpower, espcially if it included the all the eu and cis nations

thats the last thing we need is a United States of Europe.

nomadking · 10-11-2011, 10:30

Quote:

Originally Posted by Alan Fry

we need a united states of europe so that europe can no longer be draged down by 5 european nations, europe itself is doing fine except for those 5 european nations (italy, spain, ireland, portugal and greece)

and another thing, britain and france germany are no longer major powers, let alone superpowers, why do the frist two have perminant sercurty conciil places and india does not

if europe was one it would be a superpower, espcially if it included the all the eu and cis nations

Britain's financial contributions to the issue have mainly been to the IMF, which is independent of Europe. So we would still be impacted one way or another. The scale of the problem is bigger, because of the size of the EU and the Euro. The only way a united states of Europe(ie EUSSR) could have had any effect in preventing this all, would have been by a central government setting out budgets and spending plans for the individual countries. The countries wouldn't like that and what do you do when, and it would be a matter of when and not if, the countries decided to overspend and run out of money and then the central government would have to bail them out anyway.

Alan Fry · 10-11-2011, 10:42

Quote:

Originally Posted by nomadking

Britain's financial contributions to the issue have mainly been to the IMF, which is independent of Europe. So we would still be impacted one way or another. The scale of the problem is bigger, because of the size of the EU and the Euro. The only way a united states of Europe(ie EUSSR) could have had any effect in preventing this all, would have been by a central government setting out budgets and spending plans for the individual countries. The countries wouldn't like that and what do you do when, and it would be a matter of when and not if, the countries decided to overspend and run out of money and then the central government would have to bail them out anyway.

will then those countries of be part of this united states of europe

plus the uk and ireland will be part of the united states of europe

nomadking · 10-11-2011, 10:46

Quote:

Originally Posted by Alan Fry

will then those countries of be part of this united states of europe

plus the uk and ireland will be part of the united states of europe

Either way the UK would be still be affected.

**Damien** · 10-11-2011, 10:52

The main way the UK would be affected would not be via our previous contributions to the IMF - that's already written off - but by banks having to write off any debts they are owed by Italian banks (or by other banks who are exposed to Italian banks).

**Chris** · 10-11-2011, 13:04

Yup. Remember the 'credit crunch' that kicked all this off in 2008? A root cause of that was banks being exposed to mortgages that could never be repaid, because they were lent to people that should never have had them, and then packaged up together with other mortgage accounts (some of which were more or less toxic than others) and re-repackaged, and sold off from one bank to another, until it became impossible to work out how reliable any one package of mortgage debt actually was.

Banks became wary of lending to each other because they could no longer trust that the institution they were lending to had the reliable income stream necessary to pay back.

We are already spiralling towards a similar crisis of confidence in the Eurozone that could cause a similar refusal of banks to issue credit, but this could turn out to be a whole lot worse as we're talking about colossal sovereign debts formally being declared unpayable and being written off.

And even now, Merkel fiddles while Rome burns.

---------- Post added at 13:04 ---------- Previous post was at 11:27 ----------

http://www.bbc.co.uk/news/world-europe-15671354

Quote:

Former European Central Bank vice-president Lucas Papademos has been named as Greece's new prime minister, following days of negotiations.

So the Greek government is headed by a Euro-banker and the machine is being 'supervised' by EU civil servants ... and all in the cradle of democracy. What a sad day this is.