SIGN UP

Answers

1 to 7 of 7rss feed

Best Answer

No best answer has yet been selected by webbo3. Once a best answer has been selected, it will be shown here.

For more on marking an answer as the "Best Answer", please visit our FAQ.
the Euro is a soft currency, based on political shoe hornery, It is destined to collapse. Ironically the self defined conditions for the "currency" have actually only been met by 2 countries, Germany and the UK. Yes we met the parameters but did not join, credit where it's due, thanks to Gordon Brown. The other members were all fudged especially Italy so it's no surprise that they are, in effect, being forced out.
All pyramid schemes eventually collapse when they run out of mugs.
Germany runs an current account surplus of 8% of GDP - the world's largest. I don't believe this contravenes the conditions for euro membership but is certainly contrary to EU fiscal rules. The European Commission has been trying for some years to get them to reduce this surplus to no avail. It is a principle driver behind the instability of the Eurozone (as if that flawed projects needs any help towards its failure) and is likely to hasten its demise.

The Italian crisis has been brewing for somewhere between 12 and 24 months and I commented on it when it was first highlighted. It has been simmering since then and so long as the new Italian government does not cave in to the EU's bullying the excrement will hit the fan sooner rather than later.
Not too good for EU either - POLAND is close to crashing out of the European Union because of its ongoing conflict with Brussels over rule of law, according to the bloc’s most senior official Donald Tusk.
the wealthy have been shovelling their money out for ages now, this time it's middle income groups and buckets of dosh is arriving in Switzerland and especially Lugano.

Who is the biggest creditor - after the ECB @ 400bln, France by a country mile (I believe 310bn) whereas we are in for 30 odd billion....

The argument for the outcome is that the ECB needs to mutualize all EU debt - and on that basis there may be a case that they have to pay us out and not the other way around....the Dutch and Germans underwriting the largesse of it. But rest assured, Italy is in the dark brown stuff big time and may well have to adapt near Greek restrictions, whatever.....
Only surprise is that it has taken so long.
what does it all mean i ask myself, the collapse of the Euro, good thing we didn't join.

1 to 7 of 7rss feed

Do you know the answer?

There May Be Trouble Ahead...

Answer Question >>