Euromess! Good news?

Geoff


Joined: 25/06/2008
Posts: 1370

Message Posted:
06/02/2010 09:53

I see the Eurozone is in a mess and some countries are being tipped as likely to dump the Euro and revert to their old currency/ies. This is all because Greece, Portugal, and Spain have been running up huge public finance deficits. South Cyprus is going the same way as Greece and for the same reasons. GREED by civil servants. At least here we use the TL, should be good news for those of us paid our pensions in British Pounds or Euros, since the British Pound also in as mess,

Geoff

Famagusta City.

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
06/02/2010 09:55

"At least here we use the TL, should be good news for those of us paid our pensions in British Pounds or Euros, since the British Pound also in as mess, "



I'm glad you aren't my accountant!

elko2



Joined: 24/07/2007
Posts: 4400

Message Posted:
06/02/2010 10:03

Groucho,

Maybe a good accountant always think in a devious way which we cannot see or appreciate

ismet

Tenakoutou



Joined: 27/07/2009
Posts: 4110

Message Posted:
06/02/2010 10:06

'Greed by civil servants' - ooh!



'The pot calling the kettle....' springs to mind, Geoff!

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
06/02/2010 13:13

"Maybe a good accountant always think in a devious way which we cannot see or appreciate "



Yeah but to think that a weak pound might benefit you when changing pounds into Turkish lira is daft... as it will buy less TL not more!

Geoff


Joined: 25/06/2008
Posts: 1370

Message Posted:
06/02/2010 13:58

Creative accounting my friends. Think on it! Where is the TL going compared to other currencies?

Geoff

elko2



Joined: 24/07/2007
Posts: 4400

Message Posted:
06/02/2010 14:13

Geoff (msg. 6),

You are as good as my friend. When the price of petrol went up I asked him what he thought. "It makes no difference to me" he said. I asked him to explain how and he said that he always bought 50TL worth of petrol, so it would not make any difference to him

ismet

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
06/02/2010 14:16

Sorry Geoff but playing the currency markets with a pension is like putting all your wages on the outcome of a game of footie.



Week by week, month by month you'd have to make the right pick. All the time you've got to live and pay your way in TL.



Unless to sit by your computer 24/7 making trades and watch life pass you by it won't make consistent profit - and if you do, it's just not worth the effort.



MarkVPiazza was forecasting 5TL to the GBP on this and other boards any day soon, and that was 3+ years ago! The man did not see the writing on the wall.



And thinking about keeping money in Sterling as a hedge against a weakening TL is just as dangerous. At what point do you leap back into TL?

LOvegod


Joined: 22/03/2009
Posts: 161

Message Posted:
06/02/2010 14:26

full marks groucho. Im glad geoff isnt an accountant. For those on GBP pensions , a weakening pound means less TL to live on ! The euro and pound have weakened dramatically in the last month alone especially against the dollar and yen. This trend could continue as the markets become ever more wary of a global recovery.

girne 29


Joined: 06/12/2007
Posts: 1488

Message Posted:
06/02/2010 16:37

Those of you that think Greece's problem or any other in a similar situation is good news,should think again.



Think out of the Cyprus,Orams ,EU ,Turkey vs Greece box.We should want a strong Greece and EU.



For all concerned ,its better the UK gets its economy and currency up to the level of the main players in Europe, rather than hope their economies go down to our level.



The problem at the moment is that France and Germany are quite rightly refusing to bail out Greece,but it would be better for all if the Greek economy was strong.We should hope they can get out the mess.



Those with pensions being paid in NC,why do you presume a Euro becoming weaker is of any benifit,that would only apply if you live in the south.

Those with private pensions but yet to take them , and those with investments in equities. The last thing we want is poor EU stockmarkets.

It might have escaped some that UK is in EU as well. Also about 60% of Turkeys exports go to EU,and that will be affected.

LOvegod


Joined: 22/03/2009
Posts: 161

Message Posted:
06/02/2010 18:37

With any luck Germany in the end will say , enough is enough and leave the EU. That means The EU will cease to exist and we can all get back to normal. Good riddance to the most corrupt organisation on this planet.

Biker



Joined: 11/01/2008
Posts: 396

Message Posted:
07/02/2010 00:31

And to think that Turkey is trying to get into this !!!!!!!

I wonder what will be the economic situation of a Turkey outside of EU and Greece in EU ??

Interesting phenomenon ha !!

Lilli



Joined: 21/07/2008
Posts: 13081

Message Posted:
07/02/2010 00:46

well whatever happens it is having a knock on effect here. Germay is trying to get its own house in order by disclosing the rich germans with swiss bank accounts Do you think Germany will decide the fate of the EU. I wish someone would xxxxx

Reproman


Joined: 05/06/2008
Posts: 252

Message Posted:
07/02/2010 03:31

Baldric I have a cunning plan!

Turkey with it's strong economy can bail out Greece, in return for recognition of north Cyprus!

There you go problem solved ;)



jokes aside, as much as I hate Greeks and enjoying seeing them suffer, the demise of Greeces economy is tanking the stock Market right now and my shares are going down!!