The Euro what ground has it got now

Lilli



Joined: 21/07/2008
Posts: 13081

Message Posted:
22/11/2010 22:52

After whats happened in my homeland Ireland it got me thinking, how long before the ROC is putting the begging bowl out. They accepted EURO and all that goes with it, they shut out the TRNC and i guess we should be glad. Dollar is going to be weak what else will follow .

andy-f


Joined: 03/05/2009
Posts: 1256

Message Posted:
22/11/2010 23:47

lilli , an expert said on tv tonight it could be the start of the real recovery , he seems to think things will get better after ireland is bailed out ?



andy

Blackbird



Joined: 11/08/2009
Posts: 1432

Message Posted:
22/11/2010 23:51

From what I heard today this bail out is a loan....that has to be paid back with interest!

LOvegod


Joined: 22/03/2009
Posts: 161

Message Posted:
22/11/2010 23:54

andy the 'expert' is probably right. cant see the euro fading away as the germans need it to control their euro zone countries. By keeping the euro weak but alive ensures that they can continue to export their high quality goods to lesser countries and enjoy a healthy trade surplus just like china.

andy-f


Joined: 03/05/2009
Posts: 1256

Message Posted:
22/11/2010 23:58

lovegod i hope hes right . whats for sure though is spending more than you are collecting is a thing of the past for all EU countries .

DutchCrusader



Joined: 19/05/2008
Posts: 11280

Message Posted:
23/11/2010 00:01

RE msg 3, Blackbird: (...) From what I heard today this bail out is a loan....that has to be paid back with interest! (...)

=> Exactly - and rightly so. If you make a mess of the national household and smarter countries are coming to the rescue - why would the culprit benefit?

Ireland (circa 4 million people) has to save 5x (!) as much money next year as Holland (17 million people and 4x smaller! than Ireland). Without the EU Ireland can only promote tourism with this slogan for the next 10 years: "Visit Ireland! Boil our potatoes on your own turf fire!".

paddywack


Joined: 04/05/2009
Posts: 959

Message Posted:
23/11/2010 00:04

Msg 6

Think Ireland has a little more to offer than your last sentence.

DutchCrusader



Joined: 19/05/2008
Posts: 11280

Message Posted:
23/11/2010 00:13

Paddywack (msg 7): I heard many reports today from Ireland and I'm really sorry to say that the Irish population do not seem to understand yet their situation. Ireland has NOTHING to offer for years to come - the EU (Brussels) and the IMF will tell Ireland what to do and how to do it. A loan is a loan and the Irish will be taught the consequences the hard way. The Irish economy has collapsed and the Irish banks are queuing to follow. Ireland is out of balance - it'll take a long time and financial suffering before things are right again. I'm really sorry for the Republic of Ireland, where part of my heart is forever.

LaptaMike


Joined: 07/10/2009
Posts: 1679

Message Posted:
23/11/2010 00:51

Hans, and here was me thinking you were a heartless ba$^@rd ;-) only joking mate

Clarissa2


Joined: 12/06/2009
Posts: 1476

Message Posted:
23/11/2010 02:34

Re : Msg8,





DC, have joined the leprechauns too?

negativenick


Joined: 10/11/2008
Posts: 6023

Message Posted:
23/11/2010 04:59

put your money into Thai Bhart Lilly - stronger than granite....................

yrret


Joined: 17/08/2010
Posts: 761

Message Posted:
23/11/2010 06:15

As far as the banks situation goes, it is very different, so if you have cash in the bank you have little to worry about.

In the UK, the LDR (loan to deposit ratio) is over 100% (115% 0r 125% I think) in other words a bank can lend more than it ever has on deposit. In the US it is about 150%

In Cyprus, the LDR is only 80% so banks cannot lend money they don't have, and it gives a buffer for defaulted loans.

http://gregpytel.blogspot.com/2009/09/loan-to-deposit-ratio-and-banks_02.html



NN, you obviously don't mean the Baht in 1997, it's value halved overnight.

Read about it here:

http://en.wikipedia.org/wiki/1997_Asian_Financial_Crisis



What is happening now is little new, it has all happened before, and will happen again.

yrret


Joined: 17/08/2010
Posts: 761

Message Posted:
23/11/2010 07:45

The Euro will not be allowed to collapse by any of the wealthy members, especially Germany, and at 'any' cost to the electorate.

Take Ireland for example, threatened to pull out of the Euro, but what would they replace it with? the Punt?, this would then be a worthless currency, they would be in the same situation as Zim, no-one wanting the currency of a failed country, rampant inflation as so much of the worthless currency would be needed to import goods and there would be a black market in GBP or USD. The 'only' possible option for Ireland could have been to try to take on the GBP, but this would then mean they would be passing monetary policy to London, and could be interpreted as a compromise on sovereignty - won't happen.

The same applies to all members of the Euro, they either make it work at any cost, or all members will suffer beyond anything previously anticipated.

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
23/11/2010 09:00

The good old £ is still the strongest currency.

LOvegod


Joined: 22/03/2009
Posts: 161

Message Posted:
23/11/2010 09:32

yes old sterling will gradually claw its way back up see GBP/USD 164 by xmas

mmmmmm



Joined: 19/12/2008
Posts: 8398

Message Posted:
23/11/2010 10:46

Lilli, the USD has been kept deliberately weak..



Read this about currency wars:



http://www.bbc.co.uk/news/business-11722578



The RoC hasn't 'shut out' 'TRNC' - Mr Denktash managed to exclude TCs by 'creating' it... IF TR had been smart back in 2004 and agreed hat the 'TRNC' was legally invalid and created a council of TCs pending a political solution - I'll bet a way around the UN Resolutions re the legal invalidity of 'TRNC' could have been found..



Indeed it is the very 'stick' the 'rump' RoC 'beats' TCs with..



The smart move would have been to take that 'stick' from their hands..

Middle Easter


Joined: 13/06/2007
Posts: 146

Message Posted:
23/11/2010 22:51

Agreed 6m's.....US Dollar weakness is a strategy decision by the US rather than the 'market forces'



No1Doyen/LOvegod, the use of 'old' when you talk about sterling implies a a nationalistic attachment to the UK currency. The 'Queens Head' & all that, but don't let you heart rule your head. sterling is heading South versus the Euro over time...BIG time & will cease to exist: The only reason it will appreciate (short term) against the US Dollar is that the US are manipulating the forex rates to improve exports.



The US rely on China etc with trillions of USD assets to support the dollar (which they do), but China etc are slowly shifting their position (to Euro not Sterling) & one fine day maybe in as much as 10years time the 'plug' will be pulled & the US Dollar will descend into the abyss & globalisation will be 'complete'...



A New World Order.......but the US will be very dangerous i.e. many bombs & no cash

Lilli



Joined: 21/07/2008
Posts: 13081

Message Posted:
23/11/2010 22:55

Jeaz thank god I have no money, however wonderful explanations about the currencies, than you mark and middle easter xxxxxxxx

LOvegod


Joined: 22/03/2009
Posts: 161

Message Posted:
23/11/2010 23:14

my opinion of sterling is... perhaps a little bit nationalistic but thats because 1 im english 2 sterling is technically in a bull run against the usd and eur. as to your new world order then u must be one of those sad freemasons running around this island. i have traded currencies for years my friend and your views are so inaccurate they are just laughable as r you. sorry but stick to ur funny handshakes and leave the currency movements to the profis. ta ta

Noeler


Joined: 23/01/2009
Posts: 32

Message Posted:
23/11/2010 23:44

Then Irish Government borrowed money from ECB to recapitalise Irish banks at a rate of 1.5%. The ECB has said no more money from this source. The EU says the the future of the Euro is at stake. IMF/ECB/EU will now offer a loan of €90 bil to Ireland to plug the hole in Irish banks at a rate of 5%. The Irish tax payer will pick up the tab. The debts of the bank have been socialised. The most vunerable in Irish society willl now pay the price. So much for capitalism. The bond holders, German, French, UK banks and bond holders are not being asked to share the pain. Cuts to public services, mass emigration, loss of sovereignty.

Lilli



Joined: 21/07/2008
Posts: 13081

Message Posted:
23/11/2010 23:56

noel again, wreathed scapegoat. You know what country will Romain once Europe gets all the immigrant's in. Irish will go as we are great travellers, im told if turkey takes over her then the cys move out