Euro

[zack1234]

By the way inclusion of Greece into the Euro has been a success as it has with all the other countries

As with all these type of countries before thier inclusion they were unorganised and uncontrollable, now they have to follow the economic rules and conform

RT how does 3% sound

[Sundowner]

And so it begins.....

Regards,
Sun

Citigroup Economists Say Greece To Exit Euro Zone On Jan. 1 2013

LONDON –  Greece will leave the euro zone on Jan. 1 2013 and its new currency will immediately fall by 60% against the euro, unleashing a sizeable and unavoidable wave of contagion across Europe, Citigroup said late Wednesday.

In a note to clients, the world's second-largest currency trading bank said the consequences of a Greek exit--or "Grexit"--would accelerate strains in the European banking system and probably force the European Central Bank to restart its long-term refinancing operations and halve its interest rates to 0.5%.

"We expect that Grexit will be followed by a series of policy responses aiming to prevent a domino-style collapse of the banking system and escalating economic disruption," Citigroup economists said in the note.

Citigroup said the probability of Greece leaving was now between 50-75% and added that a Greek exit would become its base case unless next month's elections stabilised the situation.

Read more: http://www.foxbusiness.com/news/2012/05/24/citigroup-economists-say-greece-to-exit-euro-zone-on-jan-1-2013/#ixzz1vmHmJtQl

[cpxxx]

Don't know if they'll last until January next year. The bookmakers are offering 1/10 on Greece exiting the Euro. That's bookmaker speak for we don't want any more bets on this because it's a certainty.

The problem with Greece is that they never should have joined in the first place. But they were 'allowed' to join by some fiddling of the figures by the EU.

Meanwhile we here in Ireland are heading down the same road albeit more slowly. Meanwhile we're voting here to hand over the last of our independance to Berlin in a so called  fiscal treaty. The long term effect of it will be that we'll barely have more tax raising abilities than the average American state.

[zack1234]

I am going to build a bunker and fill it with bake beans

RT is going to lend me £20 so it cannot be that bad and he knows about finance


In the Wigan Gazette its main financial page has confirmed that the Greek government has agreed to all the demands of the IMF and European leaders

[RTHolmes]

I wouldnt pin any hopes on that - its a minority caretaker government with no mandate or support. the greeks have about 3 weeks for the message to sink in that you cant have your cake and eat it, and then vote appropriately. I suspect the penny will drop, but only after its way too late.

Meanwhile we here in Ireland are heading down the same road albeit more slowly. Meanwhile we're voting here to hand over the last of our independance to Berlin in a so called  fiscal treaty. The long term effect of it will be that we'll barely have more tax raising abilities than the average American state.

a fully federal europe was always going to be a consequence of a single currency, and why the UK has always ruled it out.

[rogwar]

It's interesting to get the opinion of you locals on the European continent. Thanks for sharing.

[zack1234]

 

[Dragon]

I'm spending my Euro's on Skittles and Dr. Pepper.

[PFactorDave]

It occurs to me that maybe the solution should be Germany leaving the Euro.  Then the rest of the Euro Union could devalue the Euro to solve some of their shortfalls.

[RTHolmes]

nice lateral thinking

wont happen because as the strongest economy in the eurozone germany benefits most from the single currency. a major reason they export so much is because their currency is artificially weak.

[zack1234]

i can't add with google noscript lol

[Gh0stFT]

i never ever wanted the € i miss my DM (Deutsch Mark) ! 

[RTHolmes]

well reunification+euro or 2 independent german states was the choice after the USSR fell apart ... given your location I'm guessing you would have picked the latter?

[Raphael]

 

[Gh0stFT]

well reunification+euro or 2 independent german states was the choice after the USSR fell apart ... given your location I'm guessing you would have picked the latter?

what have the reunification to do with the € ?