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| The Euro, Could It Fail?; merged with Merkel says there is a problem with the value of the euro | |
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| Topic Started: Feb 13 2017, 09:31 PM (1,362 Views) | |
| Opinionater | Feb 13 2017, 09:31 PM Post #1 |
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I think it's under pressure and there is a risk of it going into free fall. Why you may ask, well let's take a look at the problems it is facing. Greece, that in itself is a big risk, more bail out loans, no hair cut its just not going to work. The only way out, well two ways, get them out of the Euro or give them a major haircut. They are not going to do any of the above. BREXIT, whilst we are not In the Euro Zone leaving the EU will impact on the stability of the Euro as fears of others leaving add to the problem. What do you think? |
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| Tigger | Feb 20 2017, 05:40 PM Post #81 |
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Seeing as it's already been explained to you perhaps it might not be a bad idea to look up some details instead of regurgitaing drivel from the right wing press?
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| The Buccaneer | Feb 20 2017, 08:23 PM Post #82 |
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Have done, did you ? Get some gorm ! |
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| Steve K | Feb 20 2017, 08:43 PM Post #83 |
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Once and future cynic
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No you took your limited understanding of how lender of last resort works for some countries and asserted that to the dotted i and crossed t that was a golden rule that applies universally It doesn't |
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| The Buccaneer | Feb 20 2017, 11:27 PM Post #84 |
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You really wanna bet the € is still there 10 years hence or maybe even 5 ? |
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| Steve K | Feb 20 2017, 11:40 PM Post #85 |
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Once and future cynic
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OK then IF this forum and we both are still here on 20th February 2027 then IF the € has fallen by then you can dictate the avatar and signature for my account for a month. And if it hasn't then the reverse (ie I dictate yours) If it falls earlier then you have the option to invoke the bet earlier. deal? cue arguments over what 'fallen' means Edited by Steve K, Feb 20 2017, 11:42 PM.
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| Rich | Feb 20 2017, 11:58 PM Post #86 |
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Sorry to be pedantic, but the Thread title says "fail"
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| Steve K | Feb 21 2017, 12:03 AM Post #87 |
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Once and future cynic
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Yeah whatever. Could you pop over to the Caption Compo please, we're in Fergie time now |
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| Mr Pat | Feb 21 2017, 08:33 AM Post #88 |
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The Euro has already failed in it's two principled goals of prosperity and political integration. Could it fail. Yes it could, it's principled goals are further away now, than at any other time. |
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| Steve K | Feb 21 2017, 09:38 AM Post #89 |
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Once and future cynic
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Where are you getting those goals from? Surely its goals were to improve trade and wealth and it's certainly done both of those. The Eurozone isn't all Greece just like the UK isn't all Toxteth |
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| RoofGardener | Feb 21 2017, 09:42 AM Post #90 |
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Lord of Plantpots
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That seems a trifle harsh. Europe has accomplished a reasonable degree of both prosperity and political integration. Providing the core economies remain reasonably convergent, then I see no real reason for the Euro to fail ? I would suggest that any future threat to the EU comes more from political fragmentation and secession rather than from pressures on the Euro per se . |
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| Steve K | Feb 21 2017, 10:29 AM Post #91 |
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Once and future cynic
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For record these are the official goals of the Euro http://europa.eu/european-union/about-eu/money/euro_en#purpose-of-the-euro
In short: increase trade, travel and international clout |
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| Tigger | Feb 21 2017, 12:23 PM Post #92 |
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Indeed. When I was in business those using the Euro were all for it, no rip off money changers to contend with like in the past and price transparency was a given. Clearly those who disagree with the above spend to much time reading shite in the British press. |
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| The Buccaneer | Feb 21 2017, 03:38 PM Post #93 |
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My bet would be that the € would have failed and be history not merely 'fallen'. And by the by, I can't seem to change my avatar from the current one to anything other than my original pirate one, why should that be ? |
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| The Buccaneer | Feb 21 2017, 03:47 PM Post #94 |
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But, it's practial effect has been to polarise the huge difference in the economies of northern europe against those of the southern end, which clearly makes the point that it ISN'T suitable to fulfil its stated aims, because of the differing economics involved. As previously argued, there is NO tolerance within the euro currency to devalue that used by the less efficient economies as they were able to before its introduction, so quite clearly then, some of these countries should NEVER have been allowed to join the zone. But we are where we are, and unless these weaker countries voluntarily leave the EZ, which the EU definitely will move heaven and earth to avoid, there is little hope of any real solution. Meantime the German economy rolls on and over everything in sight, breaking the EU rules about its positive trading balance...... |
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| Tigger | Feb 21 2017, 09:47 PM Post #95 |
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How many times do you need telling devaluing a currency is not the route to economic salvation if structual problems are not dealt with first, could we tattoo it on your retinas? And in other news for those stuck in a loop, the EU posted the highest quarterly growth since 2011 this past three months with those dodgy Southern nations leading the charge..... And hopefully we'll be able to take advantage of this growth by.......... er having tariffs slapped on us.
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| Tigger | Feb 21 2017, 11:01 PM Post #96 |
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You are being taken for mugs Brexiteers. Sadly the Tories wanting more immigrants thread was closed so this will have to go here, over on Bloomberg David Davis who has been in the Baltics has been reassuring locals the the UK will still be needing lots of unskilled immigrants even after we leave the EU! Wait for it... ![]() |
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| The Buccaneer | Feb 21 2017, 11:34 PM Post #97 |
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Where do I say that devaluation is a permanent solution ? It has always been something of a last resort whilst the economy and efficiency is hoped to improve, but nevertheless, for countries such as Greece which are primarily tourist economies, a lower valued currency can still work over a longer period. You don't need to tatoo my eyeballs, just do it to your braincell which sorely needs it judging by your response. |
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| The Buccaneer | Feb 21 2017, 11:36 PM Post #98 |
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We probably will always need cheap labour for seasonal work, and this can be done using short-term visas as other countries do. Why do you seem to find this such a difficult concept, have you some brain malformation ? |
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| Tigger | Feb 21 2017, 11:41 PM Post #99 |
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But we all hate immmmgrunts don't we? Admit it, the Tories are going to fuck you all over as economic growth depends on more people consuming more goods and services. |
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| Steve K | Feb 21 2017, 11:49 PM Post #100 |
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Once and future cynic
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OK then The bet is that if on or before 20th February 2027 the Euro has ceased to be then you can dictate what my avatar and signature will be for a month And if by that date it hasn't I can do the same back to you? Agreed? |
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| Jessamy Bride | Feb 21 2017, 11:51 PM Post #101 |
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I think Germany has done quite well out of the Euro ....its a pity about some of the other Countries.... Italy, Spain, Greece.... have high unemployment and are in financial trouble. We'll have to see the results of the various National elections.....to see if the Euro will be in trouble or not. |
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| Rich | Feb 21 2017, 11:58 PM Post #102 |
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That of course will be the bellwether as I said before Christmas. You cannot blame folks who are pushed into a corner by intransigent dogmatic ideologues who just will not listen to public concerns It is they (politicians) who have caused such dissatisfaction amongst the peoples of Europe. Edited by Rich, Feb 22 2017, 12:13 AM.
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| Steve K | Feb 22 2017, 12:06 AM Post #103 |
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Once and future cynic
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They might have been even worse without it and the ERM that preceded it for many years building up their trade but essentially allowing the same issue of keeping a local currency and hence wages too high. |
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| The Buccaneer | Feb 22 2017, 03:35 PM Post #104 |
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How much longer are you going to keep on making ludicrous claims about 'us hating immigrunts' when you must know that it is the lack of numbers control we object to ? You do it just because it helps to make your fragile ego feel somehow superior like all socioliberal innumerate ninnies, all wittering for someone else to make sacrifices, but never yourselves. Well, bollox to that ignorant and hopeless attitude, get used to the idea that we want controls on immigration, even the short-term visa driven sort needed for casual workers. Plenty of other countries manage to do so, why should we be aby different ? Just to make drones like you feel somehow superior ? |
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| Tigger | Feb 22 2017, 07:52 PM Post #105 |
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I've lost count of the number of times I've explained how other EU nations DO control who comes into their countries and how we could have done the same, but naturally chose not too, and yes if you hadn't noticed immmugrashun is issue No.1 with kipperfilth and bleeding arse right wingers. |
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| Steve K | Feb 26 2017, 11:47 AM Post #106 |
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Once and future cynic
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Won't report for months though. Looks like a potential coalition partner stirring poo knowing no other partner would block it at this stage. Simple truth is the Netherlands can't ditch the Euro without leaving the EU Original and easier to load article http://www.reuters.com/article/netherlands-election-euro-idUSL8N1G95BX |
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| The Buccaneer | Feb 26 2017, 07:35 PM Post #107 |
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You're surely not saying that it isn't not only possible but entirely possible that at least one EU and EZ member will leave the EZ in the near future ? Of course it is possible to leave the EZ if it suits any country to do so, it is mere EU pretence to say otherwise. |
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| Rich | Feb 26 2017, 07:42 PM Post #108 |
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Dogmatic ideology, non pragmatism, inflexibility and stupidity is the order of the day for Brussels. It was ever thus. |
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| Steve K | Feb 26 2017, 07:43 PM Post #109 |
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Once and future cynic
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I think it's more likely you'll win the Wimbledon championship But the rules of the EU say if they left the EZ they'd have reneged on the EU treaty. |
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| Tigger | Feb 26 2017, 07:45 PM Post #110 |
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Still not learning are we? If you ditch the currency you currently use on the grounds that you don't like it or consider the liabilities you've run up whilst using it a pain, then the moment you dump that currency you default on all your liabilities. Sensible people would firstly check that all creditors would be happy with a new and obviously unstable new currency, not surprisingly most will say FOAD! |
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| Rich | Feb 26 2017, 07:48 PM Post #111 |
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Rules eh?......hmmmm, seems to me that rules are only there for the member states that gain the most, do you recall when both Germany AND France broke the GDP/debt ratio?...........nothing was said and life carried on. without popular consensus (and that seems to be waning) the dream is doomed. |
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| Tigger | Feb 26 2017, 07:48 PM Post #112 |
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*Yawn* And of course you'll now tell us which has been the worst performing major currency this past year? |
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| Affa | Feb 26 2017, 09:23 PM Post #113 |
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Dogmatic ideology is the order of the day for Brussels. It was ever thus. No other description was necessary. |
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| The Buccaneer | Feb 26 2017, 09:49 PM Post #114 |
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And then they would continue to fudge things because otherwise it would be an admission of failure, or don't you still understand just how much the EU is terrified of any hint of that ? |
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| The Buccaneer | Feb 26 2017, 09:51 PM Post #115 |
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Totally WRONG as usual, the creditors would then renegotiate how to get their debts repaid with a new (probably devalued) currency, as has been the case for decades. When are you going to get real ? |
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| Affa | Feb 26 2017, 10:07 PM Post #116 |
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Read up on Hjalmar Schacht. |
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| Tigger | Feb 26 2017, 11:04 PM Post #117 |
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And with the devaluation they'd lose money! Lots of money ffs! It's not like changing your spare holiday cash over to fill up the car! Why do you think despite the all the problems the Greeks want to keep the Euro? |
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| Tigger | Feb 26 2017, 11:10 PM Post #118 |
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There is no way he'd read any of that, basically you can fob off creditors for so long by manipulating the money supply, but if they lose confidence in your currency because you dilute or devalue it those same creditors might then ask for the debts to be paid in another currency that you can't get or the issuer wont let you use. To avoid an economic disaster you start a world war.
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| Deleted User | Feb 26 2017, 11:12 PM Post #119 |
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Sounds like a plan....
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| Oddball | Mar 1 2017, 08:57 AM Post #120 |
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Nah - that one has been tried, and I believe it sort of failed. |
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