The death of the Euro

bigbadwolf

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orwellian said:
Collapse of the euro is 'inevitable': Bailing out the Greek economy futile, says FRENCH banking chief

http://www.dailymail.co.uk/news/worldnews/article-1250433/Greece-debt-bailout-EU-leaders-split-euro-crisis.html
If you read the first few lines of the article, this is what was said:

The European single currency is facing an 'inevitable break-up' a leading French bank claimed yesterday.
Break-up is not collapse, regardless of what a Eurosceptic piece of propaganda like Daily Maily might want.

The Club Med countries -- the PIGS (Portugal, Italy, Greece, Spain) -- will end up getting kicked out of the euro monetary zone. They don't have what it takes to play in a man's game. The bloc will reconstitute itself along more Nordic lines. Southern Europe should never have been admitted to the euro monetary zone and if EU core members had not turned a blind eye towards Greece's fudging of the figures needed to satisfy admission critieria, this wouldn't have happened.
 

French jurist

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Bigbadwolf said it all, although I am not 100% sure the PIGS would get kicked out.
For sure, the ones who are really pissed are the Germans.

Nevertheless, the monetary union allowed Europe to avoid a devaluations combat.

In a larger perspective I am deeply convinced of the EU benefits : That's more than 60 years we live at peace with our neighbours (there was Yugoslavia though, but it was outside the EU).

Let's not forget as well that hedge funds are speculating against the EUR (hoping they will suffer heavy losses, my guess being they will).
 

Moonwitch

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I sadly think the EURO is here to stay, the fat cats at the EU won´t let it fail.

I´m sorry but the EU is an expensive scam that isn´t good for the people. It might have brought some benefits, but the negatives outweigh them all. It is even more undemocratic then the national govs. It is worse then the the USSR. And all this 60 years of peace is bullshit.
 

French jurist

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Moonwitch said:
I sadly think the EURO is here to stay, the fat cats at the EU won´t let it fail.

I´m sorry but the EU is an expensive scam that isn´t good for the people. It might have brought some benefits, but the negatives outweigh them all. It is even more undemocratic then the national govs. It is worse then the the USSR. And all this 60 years of peace is bullshit.
Worse than the USSR, 60 years of peace is bullshit... Maybe is it a bit excessive ?
It's such a vast subject, and yes it's far from perfect.
 

orwellian

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French jurist said:
In a larger perspective I am deeply convinced of the EU benefits : That's more than 60 years we live at peace with our neighbours (there was Yugoslavia though, but it was outside the EU).
Yes but the Euro is not the EU.
 

French jurist

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orwellian said:
Yes but the Euro is not the EU.
I'm afraid I don't understand your comment.
Euro is the official currency of the European Union, all members of the EU, except for DK and UK are legally bound to adopt it as a currency once they meet certain criterias (Greece lied to meet those criterias btw).
 

orwellian

Registered
French jurist said:
I'm afraid I don't understand your comment.
Euro is the official currency of the European Union, all members of the EU, except for DK and UK are legally bound to adopt it as a currency once they meet certain criterias (Greece lied to meet those criterias btw).
The European Union countries can freely adopt the Euro currency if they want to. Some countries opted to stay out, like UK, Denmark and Sweden.
The Euro has always been a bad idea and am glad I voted no
 
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