Will Greece Be First Relegation From Eurozone ?

[User removed 4]

Correct. And you can also get them for really long periods like 30+ years.

To be fair its not like the standard period here is too short.

 

[Mutts Nuts]

Probably ,and they will be much better off for it,the Germans failed to take over the world by force twice,they are now trying to do it using politics

 

[Herr Tubthumper]

To be fair its not like the standard period here is too short.

True. I'm not sure how the US rates compare to ours, I might do some research when I have time. But, the concept seems to make perfect sense to me and I'm sure would suit UK borrowers more. I'm sure a family would prefer stable outgoings instead of being at the mercy of interest rates for 25 years. This would just leave us at the mercy of the energy companies.

 

[Herr Tubthumper]

Probably ,and they will be much better off for it,the Germans failed to take over the world by force twice,they are now trying to do it using politics

If at first you do not succeed eh?

 

[Don Quixote]

Probably ,and they will be much better off for it,the Germans failed to take over the world by force twice,they are now trying to do it using politics

I don't think they wanted to take over the world on both those occasions, and I don't think they are doing so now.

 

[User removed 4]

I don't think they wanted to take over the world on both those occasions, and I don't think they are doing so now.

No, it was a peacekeeping mission.

 

[Uncle Spielberg]

Correct. And you can also get them for really long periods like 30+ years.

The longest fixed rate here is 10 years now. They did a few experimental 25year deals a few years back and the demand was zero. One major lender sold 2 in the whole of the UK. Also long term fixed rates here have massive early redemption penalties typically 5% of the mortgage which puts people off.

 

[fork me]

Firstly I meant the collapse of the fake currency - you know, that political ideal rather than any financial sensible one, not the whole of Europe.

If the currency fails, the scenario I described WILL happen. You won't have the one without the other.

I have every sympathy for those people in Greece currently living on handouts from charity. They would be much better off out of the Euro so their government could devalue whatever currency they had. It's the Euro that has assisted in that poverty coming about so celebrating the collapse of such a divisive and political currency isn't sick IMNVHO.

But the collapse would directly cause more of that suffering.

 

[Mutts Nuts]

I don't think they wanted to take over the world on both those occasions, and I don't think they are doing so now.

What do you think they were trying to do,then and now

 

[Mutts Nuts]

If the currency fails, the scenario I described WILL happen. You won't have the one without the other.



But the collapse would directly cause more of that suffering.

They will be far better off out of the euroshite than in

 

[franks brother]

If Greece leaves the Euro and as a result defaults on all their debt then the whole house of cards will come a tumbling down. The Irish, Portuguese and Italians would most probably follow suit. The stock exchanges would collapse. We, the UK, will be on the hook for tens of billions of this defaulted debt, The current austerity measures will seem like the boom time under Labour in the early 00's.

My advice. Buy gold, stock up on water and baked beans!!!!

The end is neigh, the end is neigh

 

[User removed 4]

If Greece leaves the Euro and as a result defaults on all their debt then the whole house of cards will come a tumbling down. The Irish, Portuguese and Italians would most probably follow suit. The stock exchanges would collapse. We, the UK, will be on the hook for tens of billions of this defaulted debt, The current austerity measures will seem like the boom time under Labour in the early 00's.

My advice. Buy gold, stock up on water and baked beans!!!!

The end is neigh, the end is neigh

Only if you're a horse, do you mean nigh ?

 

[beorhthelm]

If Greece leaves the Euro and as a result defaults on all their debt then the whole house of cards will come a tumbling down. The Irish, Portuguese and Italians would most probably follow suit. The stock exchanges would collapse. We, the UK, will be on the hook for tens of billions of this defaulted debt, The current austerity measures will seem like the boom time under Labour in the early 00's.

this is an old out of day view. its been going so long now, the effects are known, the hedges and contigencies in place. they already have defaulted in effect and their debts written down or off. the total defualt swap exposure turned out to be about 5billion, already paid out i understand.

the question is, does Portugal and Spain go sod it we'll leave too once the precedent has been set.

 

[sten_super]

It's looking now like there may be a run on Bankia, the Spanish (nationalised!) bank. I can't believe that the Spanish government has enough funds to prop up the bank with liquidity, so could this be the straw that breaks the camels back? Also, what does it say for faith in the government if Spaniards and other investors are taking their money out of a bank owned by the government!

 

[BigGully]

But it is not really an 'opt out' its the sustainability of living like the Germans within a Southern European culture.

It is a bankrupt scenario where they cannot possibly implement austerity, they are on their knees anyway, whilst the Germans and French are unlikely to give them further funds.

Maybe they will go the way of some unscrupulous business's go when they are nearing the end, put together a plan, take another shot of money, spunk it before finally accepting that they must go bust anyway.

 

[cunning fergus]

Its all very well delving into the technical aspects of the euro's travails by dissecting the different European economies, markets, bond rates, trading cycles, industrial bases, gold reserves, unemployment rates and their respective fish prices...........these ignore the primary problem.

Regardless of how different European countries have (well intentionally) tried link their vastly different economies together to form a single currency, the greatest threat is, and always has been from the ever weakening democratic mandate of the EU itself.

It is the political shitstorms from the Greek electorate that is going to kill the euro. The Greeks are going to say f*** OFF to the EU.........and the market and the rest of the world knows it. The market knows that even if the Greeks don’t say f*** OFF now they will probably say it later.........and if not the Greeks then it will be the Spaniards, Italians or the Portuguese.......the game is up........the big swinging dick politicians in the EU are now bolting down their own domestic policy holes. Hollande’s victory is a prime example.

The euro was the brainchild of vain politicians..........they revelled in its reflective success when everyone was borrowing money in the splurge fuelled bukkake years..........but now all the creampies have dried up and all that's left is a f*** off BBC that everyone in the EZ needs to suck good and hard for the next century..........unsurprisingly its not to everyone’s taste.

The politicians took liberties with the economic realities but their worst crime was mugging off the respective electorates............in the UK we know how important democracy is to the EU given their reactions to democratic mandates elesewhere (France 2005 anyone)…………does anyone seriously think Merkel will change the new fiscal pact if the Irish say no in their referendum?

Thankfully the sane know the answer in the UK because we know the politicians (we always know better than them) but then again so do the populist peoples of Europe.

For a project designed to becalm the violent peoples of continental Europe its an epic fail, and many many many people are gonna burn........................hasta la victoria seimpere.

 

[Mellor 3 Ward 4]

Trouble in Spain grows - ratings agency has now downgraded 16 Spanish Banks.

 

[Mellor 3 Ward 4]

Elections now less than 10 days away in Greece.

Anyone else see the guy from 'New Dawn' (the far right Party in Greece) attack a lady from the Communist Party live on a TV talk show last night?

 

[Mellor 3 Ward 4]

The Elections are on Sunday in Greece.

Interesting that in Greece no opinion polls are allowed in the last two weeks prior to the vote, so it really is a tough one to call.