What will happen to the Euro?

[lord_cheeseman]

You know the drill, discuss!

[tonypub]

You know the drill, discuss!will be a two-tier euro soon enough.a big euro for germany,france,and a baby euro for the pigs.italy next for a bailout

[lord_cheeseman]

will be a two-tier euro soon enough.a big euro for germany,france,and a baby euro for the pigs.italy next for a bailout

Italy has always had a massive deficite and they always seem to cope. I did read this morning that barclays bank is looking at some spanish caja's with a view of a buy out. I suspect the Spanish government is trying to reduce it's exposure and get some funds from somewhere. Probably because they can't borrow money from anyone.

[tonypub]

Italy has always had a massive deficite and they always seem to cope. I did read this morning that barclays bank is looking at some spanish caja's with a view of a buy out. I suspect the Spanish government is trying to reduce it's exposure and get some funds from somewhere. Probably because they can't borrow money from anyone.spain has lots of state businesses to sell off,just gotta get past the protesters to privatisation to sell them.

[lord_cheeseman]

spain has lots of state businesses to sell off,just gotta get past the protesters to privatisation to sell them.

If only we had a Margret Thatcher to lend to them!

[CIM]

Two tier Euro sounds likely. The countries in the EU were/are too diverse for one currency and central bank.

[DJ Dangerous]

So you'll get a pint in Tenerife for it, and a half pint in Ireland?





Click here (http://www.cats-aid.com) to help cats in Tenerife!

[lord_cheeseman]

Two tier Euro sounds likely. The countries in the EU were/are too diverse for one currency and central bank.

how would that work? Create a new currency Euro B (new bank, money, interest rate and such) and then peg it to the Euro A; the current euro system. Then what about all the euro A debt which they leave behind? Where does it end? A euro C and D once the PIIGS make a pigs ear of their economies again?

Not really what they had in mind when they created the euro. Then again neither was the current situation which is against all the rules too.

[CIM]

They didnt allow a mechanism for devaluing the Euro either so quantitative easing was officially not possible - then they really needed to be able to do that! the big problem is that individual countries cant do this anymore, nor can they move their own interest rates.
Any change to the currency creates loads of problems and whilst a two tier currency may become a realistic solution, it does kind of make a mockery of what is supposed to be a single currency system.

[Pooh]

I want the pesetas back!

Honestly; The idiots (in the original Euro countries) who were so enthusiastic about bringing in those countries , which all knew had unreliable economies, into the Euro, now will have to pay for it....

[marbro8]

I want the pesetas back!

Honestly; The idiots (in the original Euro countries) who were so enthusiastic about bringing in those countries , which all knew had unreliable economies, into the Euro, now will have to pay for it....but why( if we rejected it) do we have to bail the likes of portugal out?

[tonypub]

I want the pesetas back!

Honestly; The idiots (in the original Euro countries) who were so enthusiastic about bringing in those countries , which all knew had unreliable economies, into the Euro, now will have to pay for it....germany wanted the euro because the duetchmark was to strong for exports.with the euro they makin a killing exporting to the rest of europe,let them pay.

[Pooh]

but why( if we rejected it) do we have to bail the likes of portugal out?

If UK does that, it's probably their own choice.
I'm not British, but originally from another country which also rejected the Euro; Sweden.
Sweden helped bailing out Ireland, by their own choice, but has declined to dö it for Portugal.
UK has the same choice, I think, unlike the Euro countries.

[with cheese]

but why( if we rejected it) do we have to bail the likes of portugal out?
Obviously my friend, the government want to keep our currency low for export reasons. Fact is though, we are the biggest export.

[lord_cheeseman]

but why( if we rejected it) do we have to bail the likes of portugal out?

as long as they don't default it's good business. the Uk borrows money at 3/4% then lends it to ireland, portugal etc for 7/8. happy dayz for the UK

[tonypub]

http://www.bbc.co.uk/news/business-13637902

[DJ Dangerous]

Never mind the Euro.
What happened to Lord Cheeseman?

[YOUNG GOLFER]

He is fine spoke to him last week.