The Greek crisis (and Britain) - interesting article

paul90


Joined: 07/11/2007
Posts: 350

Message Posted:
04/05/2010 11:59

see:

http://money.uk.msn.com/markets/articles.aspx?cp-documentid=153232151

dublinderm


Joined: 26/09/2009
Posts: 538

Message Posted:
04/05/2010 13:04

Very interesting and thought provoking.



A weak Euro could harm Britain? I am sure that many would not be brave enough to put forward that argument.



DD

cypgab


Joined: 09/01/2010
Posts: 338

Message Posted:
04/05/2010 14:25

A good article.

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
04/05/2010 15:15

I agree. Good article.

HildySmith


Joined: 02/07/2009
Posts: 1708

Message Posted:
04/05/2010 20:49

Certainly puts the financial crisis in perspective - Europe wide

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
04/05/2010 21:12

£ pushing up since this morning against both the Euro & TL.



Richard

jamestalbot


Joined: 20/12/2009
Posts: 958

Message Posted:
04/05/2010 22:00

I don't know about the affect in the UK, I have just sold a property in Greece and lost money on it and now because of the Greek money problems and the affect on the Euro I am losing more money, and they ask for more EU money, the Greeks have done very well out of the EU, any comments?

BeeKeeper


Joined: 29/09/2009
Posts: 137

Message Posted:
05/05/2010 00:14

Something deeply significant that has gone almost unnoticed was yesterday's decision by the ECB to allow banks to post junk bonds issued by Greece as collateral. This breaks one of the golden, founding rules of the ECB. Greece can print Government bonds, sell them to banks, who will be quite happy to take them because they can take them straight to the ECB and swap them for Euros. It is exactly the same as switching on the printing press.