End of the line for The Euro? Options

[Guest_Newbury Expat_*]

I thought our Whitney sang about "One moment in Time..." One very specific moment..... ermm .. in time..

Rather than "At This Moment in Time"...


(I'm over here in pedant's corner....)

Continuing this epic tangential arc we are currently negotiating......what about Engelbert Humperdink. Didn't he have a song called This Moment in Time

If we considered time as a capitalised entity (ie Time) and as such was a proxy for Existence, then there could be such a thing as a moment in Time (such as there is a point on a timeline).

One could further say there is a moment in History (with Time representing a similar concept), but then pedantically, one could also point out that you couldn't have a current moment in history as it couldn't be historic if it were current.

All that being said, my head hurts right now and there can be no ambiguity on this score (or is it that score )

[Bofem]

I can’t see Europe crumbling down at this moment in time, but eventually.

This just in from Reuters.....

The Euro is rallying after days of uncertainty were ended, as Newbury's own Forest Gump finally revealed his thoughts on the impact of the Irish bailout in the Eurozone.

Currency markets steadied after a tumultuous week, as soon as the founder of Clay Hill Curmudgeon Fund Management LLP published his long-term forecast on economic and monetary union.

Speculation that GMR may have provided a well-balanced analysis of the Dublin crisis talks had made markets jittery all day, but calmed after he announced just after lunchtime: "Stupid is as stupid does."

Bank of England Governor Mervyn King added: "Someone give this guy a job in Canary Wharf now!

[Bloggo]

This just in from Reuters.....

The Euro is rallying after days of uncertainty were ended, as Newbury's own Forest Gump finally revealed his thoughts on the impact of the Irish bailout in the Eurozone.

Currency markets steadied after a tumultuous week, as soon as the founder of Clay Hill Curmudgeon Fund Management LLP published his long-term forecast on economic and monetary union.

Speculation that GMR may have provided a well-balanced analysis of the Dublin crisis talks had made markets jittery all day, but calmed after he announced just after lunchtime: "Stupid is as stupid does."

Bank of England Governor Mervyn King added: "Someone give this guy a job in Canary Wharf now!

Great, I 'll go and sell me Euros.

[TallDarkAndHands...]

The eventual and certain failure of the EURO is going to lead to protectionism and possible war. I don't think its a laughing matter - especially as we the TAXPAYER are going to be paying billions of pounds to Ireland to support their banking system so that OUR banks loans with them are honoured.

I still say we should let certain banks fail. The taxpayer pays and pays for the citys greed.

[TallDarkAndHands...]

http://krugman.blogs.nytimes.com/2010/11/1...-the-euro-ends/

[Blake]

The single currency was never going to work. Leading economist Milton Friedman warned that it would not work but the zealots went ahead anyway.

There was an epic and scandalous amount of "book-cooking" to get the weaker economies into the system. The chickens have come home to roost.

It is now becoming clearer day by day that the European Union is under the spell of cosmopolitan, internationalist wishful thinking. I think its days are numbered as it has always sought to bypass democracy and the voices of the people. That is always a recipe for disaster.

[Dodgys smarter b...]

Leading economist Milton Friedman warned that it would not work

Careful who you quote, because this guy also recommended the legalisation of marijuana and the abolition of medical licenses.

So presumably he'd have been happy to have undergone open heart surgery, by an unlicensed Doctor who was as high as a kite.

[blackdog]

Leading economist Milton Friedman warned that it would not work but the zealots went ahead anyway.

Meanwhile other zealots, inspired by Milton Frie,dman went ahead with the deregulation of the banking system ...

[Biker1]

Now call me a bit thick here (if you must!) but how is it that we are told that we, as a country, are alledgedly broke and need to make cuts in public spending that are going to affect us all, which I fully accept, but are then told that we are to bail out the Irish banks to the tune of billions of pounds (euros).
Can someone explain to me how we can suddenly afford it when supposedly broke?
Is it going to be to this country's benefit in the long run?

[Iommi]

We are not technically broke. We just have a chuffing great debt and were spending more money than we were receiving.

Anyone remember when Labour 'reneged' on their paydeal with the Police, a few years ago. I think it was £30m or something. Seems a bit small-fry now, doesn't it?

[Biker1]

We are not technically broke. We just have a chuffing great debt and were spending more money than we were receiving.

So how does bailing out Ireland help that?
Surely it makes the problem worse?

[Guest_NWNREADER_*]

Now call me a bit thick here (if you must!) but how is it that we are told that we, as a country, are alledgedly broke and need to make cuts in public spending that are going to affect us all, which I fully accept, but are then told that we are to bail out the Irish banks to the tune of billions of pounds (euros).
Can someone explain to me how we can suddenly afford it when supposedly broke?
Is it going to be to this country's benefit in the long run?

If you are thick for asking the question, please move over a bit so I can join you!!!

I rather suspect it is something to do with the EU arrangements - the countries that are not (yet) in the cack use their money to help out those that are. The hope being, I suppose, that it won't happen often (Hmmmmm), and that the newly enriched countries will then be able to pay their chums back before they go to the wall....

Happy to learn from anyone who really knows the answer

[JeffG]

I think the idea is that we give them money so that they can pay us what they owe us.

[Iommi]

So how does bailing out Ireland help that?
Surely it makes the problem worse?

I don't know, but I guess it is to save jobs and investments we have from going down the pan and then starting a chain reaction that would pull other countries with them, possibly even us.

[Dodgys smarter b...]

Now call me a bit thick here (if you must!) but how is it that we are told that we, as a country, are alledgedly broke and need to make cuts in public spending that are going to affect us all, which I fully accept,

Bless you for your innocence. But don't believe the hype (as they say)

There is another way....and I quote from elsewhere..

Perhaps we could consider the proposal from the Glasgow Media Group for reducing the national debt AT A STROKE. Indeed, not just reducing it, but actually getting rid of it completely. Thus saving us from having to pay any more interest on it.

They've been all over the TV and radio etc explaining it, so I'm sorry if some of you have already heard it.

Full details can be found here: http://www.guardian.co.uk/commentisfree/20...is-tax-the-rich

and from thier own website here: http://www.glasgowmediagroup.org/ (for those who want the full s.p.)

I'll try and condense it.

This country's total debt is just over £800 bn. (and it's that debt that we'll be paying trillions on in interest) If we could clear it, everything falls into place.

The total personal wealth in the UK is £9,000bn. It is mostly concentrated at the top, so the richest 10% own £4,000bn, with an average per household of £4m. The bottom half of our society own just 9%.

A 'one off' once only graduated tax of 20% on the top 10% of households would produce £800bn. (the magic figure please note) (And they don't even have to pay it all now).

Here's the best bit.......if the debt was cleared, interest rates and shares would begin to rise again and after a few years the 'super rich' would get their money back from their investments.

Simple. All it needs is POLITCAL will to do it, not a PARTY political will, but just a will.

[dannyboy]

Bless you for your innocence. But don't believe the hype (as they say)

There is another way....and I quote from elsewhere..

Perhaps we could consider the proposal from the Glasgow Media Group for reducing the national debt AT A STROKE. Indeed, not just reducing it, but actually getting rid of it completely. Thus saving us from having to pay any more interest on it.

They've been all over the TV and radio etc explaining it, so I'm sorry if some of you have already heard it.

Full details can be found here: http://www.guardian.co.uk/commentisfree/20...is-tax-the-rich

and from thier own website here: http://www.glasgowmediagroup.org/ (for those who want the full s.p.)

I'll try and condense it.

This country's total debt is just over £800 bn. (and it's that debt that we'll be paying trillions on in interest) If we could clear it, everything falls into place.

The total personal wealth in the UK is £9,000bn. It is mostly concentrated at the top, so the richest 10% own £4,000bn, with an average per household of £4m. The bottom half of our society own just 9%.

A 'one off' once only graduated tax of 20% on the top 10% of households would produce £800bn. (the magic figure please note) (And they don't even have to pay it all now).

Here's the best bit.......if the debt was cleared, interest rates and shares would begin to rise again and after a few years the 'super rich' would get their money back from their investments.

Simple. All it needs is POLITCAL will to do it, not a PARTY political will, but just a will.

I think the bit But don't believe the hype applies to the second half of your post too.

[Dodgys smarter b...]

I think the bit But don't believe the hype applies to the second half of your post too.

What part is hype then?

[GMR]

This just in from Reuters.....

The Euro is rallying after days of uncertainty were ended, as Newbury's own Forest Gump finally revealed his thoughts on the impact of the Irish bailout in the Eurozone.

Currency markets steadied after a tumultuous week, as soon as the founder of Clay Hill Curmudgeon Fund Management LLP published his long-term forecast on economic and monetary union.

Speculation that GMR may have provided a well-balanced analysis of the Dublin crisis talks had made markets jittery all day, but calmed after he announced just after lunchtime: "Stupid is as stupid does."

Bank of England Governor Mervyn King added: "Someone give this guy a job in Canary Wharf now!

Are you angling for a position so that you will be first in line for my autograph? At least you are on the right track.

[dannyboy]

What part is hype then?

All of it.

[Dodgys smarter b...]

All of it.

Aw bless....you probably think it is ..don't you?