Eurozone failure?
Sep 20th 2011 | 7:09 am
#61
Joined: Jun 2011
Posts: 12,053
From: In the middle of 10million Olive Trees
Re: Eurozone failure?
ok back on course........
Q1...Will Greece default? IMHO, probably
Q2...With Italy having been dropped a point or so by S&P will they be the next on the chopping block ? IMHO they may be able to weather the storm, getting rid of Berlusconi might help
Q3...Is Portugal standing in line behind Italy ? IMHO yes, and not to far behind, in fact they may be jockeying for the lead position
Q4...Is Spain behind Portugal ? IMHO yes, but has been seen to be making the correct moves despite the pain it is causing the citizens.
Q5...What is it about all countries below the 44degs North line that makes them susceptable to these problems ? ?
Q1...Will Greece default? IMHO, probably
Q2...With Italy having been dropped a point or so by S&P will they be the next on the chopping block ? IMHO they may be able to weather the storm, getting rid of Berlusconi might help
Q3...Is Portugal standing in line behind Italy ? IMHO yes, and not to far behind, in fact they may be jockeying for the lead position
Q4...Is Spain behind Portugal ? IMHO yes, but has been seen to be making the correct moves despite the pain it is causing the citizens.
Q5...What is it about all countries below the 44degs North line that makes them susceptable to these problems ? ?
Sep 20th 2011 | 7:14 am
#62
Not Banned (yet)
Joined: Aug 2008
Posts: 6,404
From: East Sussex
Re: Eurozone failure?
I know if we go back to the Middle ages, Spain expelled the Jews and Muslims (the UK tended to crack down alternatively on Catholics and Protestants, although campaigns against Jews weren't unknown). I'm not saying it could never happen, but I suggest that if things got so bad that people started being deported in these type of numbers, you'd have more to worry about than what the soup kitchen was serving!
Sep 20th 2011 | 7:19 am
#63
Not Banned (yet)
Joined: Aug 2008
Posts: 6,404
From: East Sussex
Re: Eurozone failure?
Q5...What is it about all countries below the 44degs North line that makes them susceptable to these problems ? ?
I get the feeling we're being distracted from the real cause - the fall-out from the bubble economy under an age of easy credit. Who sanctioned the Credit boom? I'm afraid I'm beginning to believe in a conspiracy - and it isn't down to Gordon - I think he was just a useful fool in the right seat at the time.
Sep 20th 2011 | 7:19 am
#64
Joined: Jun 2011
Posts: 12,053
From: In the middle of 10million Olive Trees
Re: Eurozone failure?
I know if we go back to the Middle ages, Spain expelled the Jews and Muslims (the UK tended to crack down alternatively on Catholics and Protestants, although campaigns against Jews weren't unknown). I'm not saying it could never happen, but I suggest that if things got so bad that people started being deported in these type of numbers, you'd have more to worry about than what the soup kitchen was serving!
any parrallels to more recent times ?
Sep 20th 2011 | 7:23 am
#65
Joined: Jun 2011
Posts: 12,053
From: In the middle of 10million Olive Trees
Re: Eurozone failure?
Have you seen the US debt clock? Heard about the Irish bailout? Forgotten Iceland already? The British deficit isn't so good either... Believe it or not, German banks are looking very shaky - google it!
I get the feeling we're being distracted from the real cause - the fall-out from the bubble economy under an age of easy credit. Who sanctioned the Credit boom? I'm afraid I'm beginning to believe in a conspiracy - and it isn't down to Gordon - I think he was just a useful fool in the right seat at the time.
I get the feeling we're being distracted from the real cause - the fall-out from the bubble economy under an age of easy credit. Who sanctioned the Credit boom? I'm afraid I'm beginning to believe in a conspiracy - and it isn't down to Gordon - I think he was just a useful fool in the right seat at the time.
Iceland as a nation decided to stand beside their banks that were soaked to the gunwhales with toxic debt. The decision was that of the nation not of a couple of people in suits and armoured Jaguar's
Sep 20th 2011 | 7:30 am
#66
Not Banned (yet)
Joined: Aug 2008
Posts: 6,404
From: East Sussex
Re: Eurozone failure?
Didn't we lose a (cod) war against Iceland in the 70s? I'm beginning to think you should never pick a fight with that lot!
Sep 20th 2011 | 7:49 am
#67
Thread Starter
Lost in BE Cyberspace
Joined: May 2009
Posts: 5,753
From: Alicante province
Re: Eurozone failure?
When daddies hear their daughters say, 'Daddy, I'm hungry,' all bets are off and the Dads will vote for any leader of any party who will help them feed their daughters.
It happened in Germany in the thirties (and I read today that the US were making plans to bomb the UK in 1930, as well as invading Canada).
Those were desperate times, I hope they don't return.
It happened in Germany in the thirties (and I read today that the US were making plans to bomb the UK in 1930, as well as invading Canada).
Those were desperate times, I hope they don't return.
Sep 20th 2011 | 7:59 am
#68
FreeThinker
Joined: Nov 2009
Posts: 9,702
From: the moors and levels
Re: Eurozone failure?
Instead of recalling the poor times of the immediate post war era, and I have every sympathy for those who lived through them, perhaps we should pay a bit of attention to what is happening right now, here in Spain and in the UK.
Today's IMF report warns of terrible dangers ahead, unemployment and poverty on a scale 'not seen since the second world war'. Those were the words of a British cabinet minister earlier today.
The poverty experienced after the biggest war in history is easily understandable, but what about this current lot? There hasn't been a war of any comparable size recently, nobody in Spain or the UK has had to go hungry, but if some of the horrible predictions from knowledgeable people come true, that's where we could be heading.
We won't have the noble choice of being poor in the sun, the poverty will be such that we will need to return to our home country to queue at a soup kitchen in the rain.
Today's IMF report warns of terrible dangers ahead, unemployment and poverty on a scale 'not seen since the second world war'. Those were the words of a British cabinet minister earlier today.
The poverty experienced after the biggest war in history is easily understandable, but what about this current lot? There hasn't been a war of any comparable size recently, nobody in Spain or the UK has had to go hungry, but if some of the horrible predictions from knowledgeable people come true, that's where we could be heading.
We won't have the noble choice of being poor in the sun, the poverty will be such that we will need to return to our home country to queue at a soup kitchen in the rain.
Sep 20th 2011 | 8:00 am
#69
Lost in BE Cyberspace
Joined: Feb 2007
Posts: 10,759
From: Land of no recession
Sep 20th 2011 | 8:07 am
#70
Not Banned (yet)
Joined: Aug 2008
Posts: 6,404
From: East Sussex
Re: Eurozone failure?
When daddies hear their daughters say, 'Daddy, I'm hungry,' all bets are off and the Dads will vote for any leader of any party who will help them feed their daughters.
It happened in Germany in the thirties (and I read today that the US were making plans to bomb the UK in 1930, as well as invading Canada).
Those were desperate times, I hope they don't return.
It happened in Germany in the thirties (and I read today that the US were making plans to bomb the UK in 1930, as well as invading Canada).
Those were desperate times, I hope they don't return.
http://www.reuters.com/article/2011/...78I20G20110919
Sep 20th 2011 | 8:28 am
#71
Thread Starter
Lost in BE Cyberspace
Joined: May 2009
Posts: 5,753
From: Alicante province
Sep 20th 2011 | 11:40 am
#73
Joined: Jun 2011
Posts: 12,053
From: In the middle of 10million Olive Trees
Re: Eurozone failure?
they were reckless and relied on the RN getting out of the way - just like some drivers. Then complained if they were bumped - just like some drivers
Sep 20th 2011 | 11:41 am
#74
Joined: Jun 2011
Posts: 12,053
From: In the middle of 10million Olive Trees
Sep 20th 2011 | 5:52 pm
#75
Not Banned (yet)
Joined: Aug 2008
Posts: 6,404
From: East Sussex
Re: Eurozone failure?
Some countries are currently doing well - the BRICS group (Brazil, Russia, India, China, South Africa). As noted above Spanish exporters are targeting these countries, as no doubt are other European countries. Who knows, they may even start buying debt...Not so sure that's good news though
http://www.reuters.com/article/2011/...78I20G20110919
http://www.reuters.com/article/2011/...78I20G20110919
There are probably more investors around the world who will be interested in investing in Spain, as asset prices come down.
http://www.businessweek.com/news/201...id-crisis.html
Sept. 16 (Bloomberg) -- Venezuelan billionaire Gustavo Cisneros said he’s looking to buy Spanish companies as the European debt crisis drives down asset valuations.
Cisneros, the chairman of Cisneros Group of Companies, said he’s considering purchasing exporters, manufacturers and media companies in Spain, where he sees “immense opportunities.â€
Cisneros, the chairman of Cisneros Group of Companies, said he’s considering purchasing exporters, manufacturers and media companies in Spain, where he sees “immense opportunities.â€
