http://www.telegraph.co.uk/finance/comm ... ished.html
I think this is a bad idea.
If things to get so awful that the Euro in its current form is dismantled, then the poorer Eurozone countries may default on their European Central Bank loans.
If that happens, I wouldn't want to be holding any Euros.
Jeff
Article: Buy euros – the single currency is finished
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CaerMyrddin
- Posts: 1271
- Joined: Mon Sep 07, 2009 10:47 am
The gentlemans on Great Britain are really euro sceptic.
Germany can't afford to let the other countries default, as many of these countries are liquid importers from Germany. It's all donw to politics now, when the elections period is over a real down to earth solution will be found.
I sympathise Merkel's idea to limit debt in the Consitution. I don't know how things work on the other countries, but here in Portugal when a government wants to show work it signs a contract with a private company that makes the job in a year or two. With a bill to be paid in the next 20 years with ridiculous conditions, which is a commitment that other governments shouldn't have to bear, in a certain way it's as if a government had to do what the previous wants them to.
I'm not against credit and debt, but surely not at this level.
The only solution for us is to stop spending, although I was shocked to know last christmas is the new record spending christmas here...
Germany can't afford to let the other countries default, as many of these countries are liquid importers from Germany. It's all donw to politics now, when the elections period is over a real down to earth solution will be found.
I sympathise Merkel's idea to limit debt in the Consitution. I don't know how things work on the other countries, but here in Portugal when a government wants to show work it signs a contract with a private company that makes the job in a year or two. With a bill to be paid in the next 20 years with ridiculous conditions, which is a commitment that other governments shouldn't have to bear, in a certain way it's as if a government had to do what the previous wants them to.
I'm not against credit and debt, but surely not at this level.
The only solution for us is to stop spending, although I was shocked to know last christmas is the new record spending christmas here...
Hi CaerMyrddinCaerMyrddin wrote:The gentlemans on Great Britain are really euro sceptic.
Well, I think we have good reasons for being glad we're not currently in the Eurozone!
True, but it also can't afford to carry on bailing them out forever.CaerMyrddin wrote:Germany can't afford to let the other countries default
And I think even Germany would struggle to bail out Spain or Italy.
It's a no-win situation.
Surely what the world needs right now is more spending by the public, as it would stimulate the global economy. The world economy will only grow if there's investment, and business aren't going to expand if demand for their products is low. It's a vicious circle...CaerMyrddin wrote:The only solution for us is to stop spending.
Jeff
Surely you know the exchange rates at the airport are crap.PeterLe wrote:I've just exchanged £500 at the airport for euros and was shocked to see I only got €495 !! i remember not long ago we was getting 1.6 !
or were you visiting the type of premises abroad which only accept cash
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oddstrader
- Posts: 344
- Joined: Fri Apr 16, 2010 4:55 pm
- Location: Surrey
peter that has to be a mistake you should be getting €570 ishPeterLe wrote:I've just exchanged £500 at the airport for euros and was shocked to see I only got €495 !! i remember not long ago we was getting 1.6 !
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enzabella2009
- Posts: 747
- Joined: Tue Nov 03, 2009 3:58 pm
British are euro sceptic but, they were not sceptic about loans, credit cards, credit stores, mortgages, remortgages, rerererereremortgages...Ferru123 wrote:Hi CaerMyrddinCaerMyrddin wrote:The gentlemans on Great Britain are really euro sceptic.
Well, I think we have good reasons for being glad we're not currently in the Eurozone!
True, but it also can't afford to carry on bailing them out forever.CaerMyrddin wrote:Germany can't afford to let the other countries default
And I think even Germany would struggle to bail out Spain or Italy.
It's a no-win situation.
Surely what the world needs right now is more spending by the public, as it would stimulate the global economy. The world economy will only grow if there's investment, and business aren't going to expand if demand for their products is low. It's a vicious circle...CaerMyrddin wrote:The only solution for us is to stop spending.
Jeff
even a 5 years old child could get a loan in britain about 2 years ago...meanwhile the royals and the bankers are laughing....