The end of the euro, three cheers

[JMLanders]

I really hope they are right, I hate everything about the EU including their currency!!

So I sincerely hope you do not buy or eat produce made or grown in the EU or holiday in the EU then?

Il est un ermit

 

[Whitespirit66]

Several of the economist questioned think not only will Greece fall out the euro, so will Portugal, Spain, Hungary, and Ireland

I hope Hungary doesn't fall out of the Euro, seeing as they aren't even in it! They still use the Hungarian Forint.

A couple of years ago, on a visit to Budapest, I asked a Scots woman who lived there what Hungary 'did'. What did Hungary produce? Apart from Goulash and Bull's Blood wine, it appears that they do very little.

Doesn't look like Hungary will be joining the Euro any time soon either!

 

[Lincsbodger]

Several of the economist questioned think not only will Greece fall out the euro, so will Portugal, Spain, Hungary, and Ireland

I hope Hungary doesn't fall out of the Euro, seeing as they aren't even in it! They still use the Hungarian Forint.

A couple of years ago, on a visit to Budapest, I asked a Scots woman who lived there what Hungary 'did'. What did Hungary produce? Apart from Goulash and Bull's Blood wine, it appears that they do very little.

Doesn't look like Hungary will be joining the Euro any time soon either!

oops yes, my transcription error

 

[LastMagicBean]

A couple of years ago, on a visit to Budapest, I asked a Scots woman who lived there

From my experience .....NEVER ask a scots woman ANYTHING when abroad.......

It will always end in grief.........

 

[Whitespirit66]

Tell me about it!

It was before she had drunk her lunch, so I could just about understand what she was saying.

 

[Mickymoody]

As I was once told it, that the US has a 'backup' currency to replace the dollar, to keep it in step with the the europe economy, as all oil is sold as dollars. So if the economy crashed, introde this new currency.

 

[Nige F]

The UK has the biggest debt problem of the lot of them and if Europe crumbles then our exports will tumble - and we go bust even faster.

What exports

 

[plugwash]

The UK has the biggest debt problem of the lot of them and if Europe crumbles then our exports will tumble - and we go bust even faster.

Currently at least as a ratio of GDP the british debt situation is far from the worst. Furthermore we still have control over our own currency and afaict most of our government debt is denominated in pounds so we have the option of printing money.

Part of the reason the likes of greece are so screwed is because they don't have that option.

Another problem is how would a country leave the euro? if they declare that all euro deposits will be replaced by deposits in some other currency on a given date I'd expect a MASSIVE bank run as soon as the news got out.

 

[joe-90]

The UK problem is not just a massive government debt that we can't even stop growing at £150 billion a year - but we have a similar size in personal debt that Greece doesn't have. Few economists think that we will ever pay back our debt. We are bust.

No Brit government has the balls to cut the deficit by £200 billion per year - all you ever hear about is cuts of 6 billion. If that's the best they can do they may as well not bother.

 

[ellal]

The UK has the biggest debt problem of the lot of them and if Europe crumbles then our exports will tumble - and we go bust even faster.

Currently at least as a ratio of GDP the british debt situation is far from the worst.

If you add in the 'hidden' debts such as those associated with PFI and pensions, then the UK is indeed in the worst position!

Kind of like asking a person how much debt they are in, and not including the mortgage, 'cos 'that'll get paid in the end'...

I don't recall the actual figure, but apparently it's about the same as our 'official' debt...

In the US for example with their $13trillion debt, they have also actually got $15trillion in interest only loans - and many lenders here used the US model...

edit: just seen joe got there first...

 

[oompah]

We are not in the euro currency but it doesn't stop them poking their noses in.

http://www.telegraph.co.uk/news/wor...-to-vet-British-Budget-before-Parliament.html

 

[mickyg]

We are not in the euro currency but it doesn't stop them poking their noses in.

http://www.telegraph.co.uk/news/wor...British-Budget-before-Parliament.html[/QUOTE]

That sounds a bit dodgy to me. If a group of financial people are privvy to a budget before its announced, surely they can make quite a bit of use from that?
At first I thought it sounded quite reasonable, not for our sakes but to maybe keep a check on the likes of Greece etc..

 

[Shifty22]

So I sincerely hope you do not buy or eat produce made or grown in the EU or holiday in the EU then?

None of what you just said is compelling me to change my view, believe it or not there are other countries that supply meat and produce and No I don't holiday in the EU, well apart from England anyway.

The whole EU is an oppressive organisation with one aim which is to enslave as much of us as possible. They don't care what you think, they will happily ignore referrendum results to meet their goals, including the Irish "No" vote. Tell me one thing that has been good about being in the EU over the last decade? On the assumption you can find something good now weigh it up against all the negatives such as immigration, countries going bust, human rights intereference, EU controlling a huge percentage of our laws, the EU court overriding UK courts decisions, stuffing fake global warming down our throats......the list is endless.

I will stand by my first comment on this thread, I hate the European Union and everything that it stands for.

 

[nickso]

So I sincerely hope you do not buy or eat produce made or grown in the EU or holiday in the EU then?

None of what you just said is compelling me to change my view, believe it or not there are other countries that supply meat and produce and No I don't holiday in the EU, well apart from England anyway.

The whole EU is an oppressive organisation with one aim which is to enslave as much of us as possible. They don't care what you think, they will happily ignore referrendum results to meet their goals, including the Irish "No" vote. Tell me one thing that has been good about being in the EU over the last decade? On the assumption you can find something good now weigh it up against all the negatives such as immigration, countries going bust, human rights intereference, EU controlling a huge percentage of our laws, the EU court overriding UK courts decisions, stuffing fake global warming down our throats......the list is endless.

I will stand by my first comment on this thread, I hate the European Union and everything that it stands for.

at any rate there is no need to hate individual european countries because you dislike the EU. a lot of your arguments above will also apply to those countries.

 

[oompah]

The whole EU is an oppressive organisation with one aim which is to enslave as much of us as possible.

Lead from the front by their own vision, Germany,with the French well in tow.Going back to what I posted earlier why do Europe finance ministers need to know about our budgets when we are not in the euro currency.Seems to me as long as we are part of the european union then laws and regulations particularly financial are run from brussels so we either embrace them fully or pull out and go it alone.