IPB

Welcome Guest ( Log In | Register )

5 Pages V   1 2 3 > »   
Reply to this topicStart new topic
> Greece / Spain / Italy
TallDarkAndHands...
post May 14 2012, 10:34 AM
Post #1


Advanced Member
***

Group: Members
Posts: 2,670
Joined: 15-May 09
From: Newbury
Member No.: 60



Anyone else wanting the whole EURO fiasco to fail?? And soon.
I see the Germans are prepared - Deutsche Marks already printed and ready to go.

Go to the top of the page
 
+Quote Post
andy1979uk
post May 14 2012, 10:38 AM
Post #2


Advanced Member
***

Group: Members
Posts: 673
Joined: 18-April 12
Member No.: 8,697



QUOTE (TallDarkAndHandsome @ May 14 2012, 11:34 AM) *
Anyone else wanting the whole EURO fiasco to fail?? And soon.
I see the Germans are prepared - Deutsche Marks already printed and ready to go.


I guess if its going to happen the sooner the better really
Go to the top of the page
 
+Quote Post
Jayjay
post May 14 2012, 10:38 AM
Post #3


Advanced Member
***

Group: Members
Posts: 1,012
Joined: 22-September 09
Member No.: 357



QUOTE (TallDarkAndHandsome @ May 14 2012, 11:34 AM) *
Anyone else wanting the whole EURO fiasco to fail?? And soon.
I see the Germans are prepared - Deutsche Marks already printed and ready to go.


Haven't heardvthat. If euro fails would not be a surprise. Thank god for Mr Brown that we didn't enter that muddle. rolleyes.gif

Would the failure have any effect on us?
Go to the top of the page
 
+Quote Post
JeffG
post May 14 2012, 10:45 AM
Post #4


Advanced Member
***

Group: Members
Posts: 3,762
Joined: 14-May 09
Member No.: 56



No, I don't actively want the euro to fail. What would be the point in wishing that? I suppose it would give the rabid euro-sceptics the chance to say "I told you so", but that doesn't help the economic mess.

I was always in favour of the single currency in the past, but now have come to the conclusion that it is a failed experiment that will rapidly disintegrate after Greece is forced out. Locking disparate economies into a single interest rate just doesn't work.

Edit: Yes, Jayjay, failure of the euro would have a huge effect on us. There would be an economic collapse in the eurozone. Countries in the eurozone are our main export market. I leave you to do the sums.

Edit #2: You can probably replace "would" with "will" in the above.
Go to the top of the page
 
+Quote Post
Bloggo
post May 14 2012, 12:06 PM
Post #5


Advanced Member
***

Group: Members
Posts: 1,863
Joined: 14-May 09
From: Newbury
Member No.: 41



The single currency was only ever going to work with a single government. That's where it was all leading but public pressure in some countries and economic problems in others have put paid to that and wee should be grateful.


--------------------
Bloggo
Go to the top of the page
 
+Quote Post
Andy Capp
post May 14 2012, 12:34 PM
Post #6


Advanced Member
***

Group: Members
Posts: 11,345
Joined: 3-September 09
Member No.: 317



QUOTE (JeffG @ May 14 2012, 11:45 AM) *
Edit: Yes, Jayjay, failure of the euro would have a huge effect on us. There would be an economic collapse in the eurozone. Countries in the eurozone are our main export market. I leave you to do the sums.

In what way would our exports be affected?
Go to the top of the page
 
+Quote Post
dannyboy
post May 14 2012, 12:39 PM
Post #7


Advanced Member
***

Group: Members
Posts: 6,035
Joined: 14-May 09
From: Bouvetøya
Member No.: 51



QUOTE (Andy Capp @ May 14 2012, 01:34 PM) *
In what way would our exports be affected?

Greece is declared bankrupt. Greeks have less spare cash, so buy less. Imports to the contry fall. Some of those imports would have been exports from the UK.
Go to the top of the page
 
+Quote Post
Roger T
post May 14 2012, 12:42 PM
Post #8


Advanced Member
***

Group: Members
Posts: 208
Joined: 1-May 12
From: Turnpike
Member No.: 8,712



Isn't it true that, the UK buys in far more than they export so, largely, will be uneffected.
Sort of like a reduction in people buying Aubergines at Sainsburys... Hardly anyone purchases them so if demand was reduced Sainsburys wouldn't really lose any money... they'd just lose the nectar (points).
Go to the top of the page
 
+Quote Post
Squelchy
post May 14 2012, 12:44 PM
Post #9


Advanced Member
***

Group: Members
Posts: 456
Joined: 14-May 09
Member No.: 47



QUOTE (TallDarkAndHandsome @ May 14 2012, 11:34 AM) *
I see the Germans are prepared - Deutsche Marks already printed and ready to go.


Where did you see that please?
Go to the top of the page
 
+Quote Post
Andy Capp
post May 14 2012, 12:51 PM
Post #10


Advanced Member
***

Group: Members
Posts: 11,345
Joined: 3-September 09
Member No.: 317



QUOTE (dannyboy @ May 14 2012, 01:39 PM) *
Greece is declared bankrupt. Greeks have less spare cash, so buy less. Imports to the contry fall. Some of those imports would have been exports from the UK.

I'm not sure they have much spare cash at the moment anyway. What do we export to them?

Olive oil will get cheaper!
Go to the top of the page
 
+Quote Post
dannyboy
post May 14 2012, 01:02 PM
Post #11


Advanced Member
***

Group: Members
Posts: 6,035
Joined: 14-May 09
From: Bouvetøya
Member No.: 51



QUOTE (Andy Capp @ May 14 2012, 01:51 PM) *
I'm not sure they have much spare cash at the moment anyway. What do we export to them?

Olive oil will get cheaper!

I don't know what we actually send them, but in 2010 it was worth £343million to the UK economy. That was a drop of 23% from 2008's total.
Go to the top of the page
 
+Quote Post
TallDarkAndHands...
post May 14 2012, 01:12 PM
Post #12


Advanced Member
***

Group: Members
Posts: 2,670
Joined: 15-May 09
From: Newbury
Member No.: 60



QUOTE (Squelchy @ May 14 2012, 01:44 PM) *
Where did you see that please?


I know someone who is involved with the printing! blink.gif

De La Rue

Teutonic efficiency means they will be ready to go whenever they make the decision.
Go to the top of the page
 
+Quote Post
TallDarkAndHands...
post May 14 2012, 01:13 PM
Post #13


Advanced Member
***

Group: Members
Posts: 2,670
Joined: 15-May 09
From: Newbury
Member No.: 60



QUOTE (Squelchy @ May 14 2012, 01:44 PM) *
Where did you see that please?


Also:

http://www.arabianmoney.net/us-dollar/2011...-of-euro-chaos/
Go to the top of the page
 
+Quote Post
dannyboy
post May 14 2012, 01:19 PM
Post #14


Advanced Member
***

Group: Members
Posts: 6,035
Joined: 14-May 09
From: Bouvetøya
Member No.: 51



QUOTE (TallDarkAndHandsome @ May 14 2012, 02:13 PM) *

A 6 month old news article.

Greece has to repay its next debt instalment on December 17th so a pre-Christmas financial market crash is very likely now

must have missed that.

What is the source of the claim that Germany is printing Deutsche Marks and that the British Foreign Office has issued warnings to its embassies?

Ed Note: Latter from Daily Telegraph and do a Google Search on the DM – they would have issued a denial by now if it was not true.


That old Chestnut - thay have not denied it so it must be true. This must be wjy 'Arabianmoney' is such a well know & trusted source of finanical news.
Go to the top of the page
 
+Quote Post
Squelchy
post May 14 2012, 01:54 PM
Post #15


Advanced Member
***

Group: Members
Posts: 456
Joined: 14-May 09
Member No.: 47



I thought so.

The rumor started with the now infamous speech, in or around October last year, by Dr. Pippa Malmgren.

Other than that, we're left with "oh, but I heard it from a friend....."
Go to the top of the page
 
+Quote Post
JeffG
post May 14 2012, 02:47 PM
Post #16


Advanced Member
***

Group: Members
Posts: 3,762
Joined: 14-May 09
Member No.: 56



QUOTE (Andy Capp @ May 14 2012, 01:34 PM) *
In what way would our exports be affected?

Well, I think if Germany, France, Spain, Italy, Greece, Ireland, Finland etc. etc. have no spare cash because their economies have collapsed, I'd have thought it was self-evident that exports to our main trading partners would suffer.
Go to the top of the page
 
+Quote Post
blackdog
post May 14 2012, 04:08 PM
Post #17


Advanced Member
***

Group: Members
Posts: 2,923
Joined: 5-June 09
Member No.: 130



QUOTE (dannyboy @ May 14 2012, 02:02 PM) *
I don't know what we actually send them, but in 2010 it was worth £343million to the UK economy. That was a drop of 23% from 2008's total.

£343 million? It can't be that low - billion surely?

According to http://tutor2u.net/blog/files/EU_Revision_...ade_with_EU.pdf - admittedly old data (2008) our trade deficit with the EU was £45 billion. But 57% of our exports were to the EU. So it's a mixed story, devaluing of ex-euro currencies would help reduce the deficit by lowering the cost of imports; whereas the reduction of ex-Euro economies would reduce the amount they have available to spend on our products.
Go to the top of the page
 
+Quote Post
Andy Capp
post May 14 2012, 04:09 PM
Post #18


Advanced Member
***

Group: Members
Posts: 11,345
Joined: 3-September 09
Member No.: 317



QUOTE (JeffG @ May 14 2012, 03:47 PM) *
Well, I think if Germany, France, Spain, Italy, Greece, Ireland, Finland etc. etc. have no spare cash because their economies have collapsed, I'd have thought it was self-evident that exports to our main trading partners would suffer.

Who are our main trading (export) partners and are we not taking strategic action already by forging other trade relationships outside the Euro zone?
Go to the top of the page
 
+Quote Post
dannyboy
post May 14 2012, 04:14 PM
Post #19


Advanced Member
***

Group: Members
Posts: 6,035
Joined: 14-May 09
From: Bouvetøya
Member No.: 51



QUOTE (blackdog @ May 14 2012, 05:08 PM) *
£343 million? It can't be that low - billion surely?

According to http://tutor2u.net/blog/files/EU_Revision_...ade_with_EU.pdf - admittedly old data (2008) our trade deficit with the EU was £45 billion. But 57% of our exports were to the EU. So it's a mixed story, devaluing of ex-euro currencies would help reduce the deficit by lowering the cost of imports; whereas the reduction of ex-Euro economies would reduce the amount they have available to spend on our products.


I hope it isn't £343 billion - the UK exports were only a grand total of £430 billion worth in 2010. I hate the greeks to be 80% of that.....

Exports to the ailing economies of Portugal, Italy, Ireland, Greece and Spain have suffered steep declines, according to a study published today. The falls underline the challenges facing the government, which hopes to rebalance the UK economy and use exports to drive future growth.

The study by Close Brothers, based on public trade data, says that the value of UK exports to the five countries plunged by 16% to £9.2bn between the second quarter of 2008 and the first quarter of this year.

The fall accounted for almost half of a general 6.6% drop in UK exports over the same period, the merchant bank said.

"The plight of Portugal, Italy, Ireland, Greece and Spain has been well documented and the UK's exporters have been hit hard by this," said Mark Taylor, head of foreign exchange at Close Treasury, a unit of Close Brothers.

The fall comes despite an 11% drop in the value of sterling against the euro over the same period, making British products more affordable abroad.

Exports to Greece plunged by 23%, to only £343m, while sales to Ireland, Britain's biggest trading partner in the group, fell by 20% to £3.8bn, from £4.7bn in 2008. Deals with Spain fell by 10.5% to £2.4bn.
Go to the top of the page
 
+Quote Post
blackdog
post May 14 2012, 04:18 PM
Post #20


Advanced Member
***

Group: Members
Posts: 2,923
Joined: 5-June 09
Member No.: 130



QUOTE (dannyboy @ May 14 2012, 05:14 PM) *
Exports to the ailing economies of Portugal, Italy, Ireland, Greece and Spain have suffered steep declines, according to a study published today. The falls underline the challenges facing the government, which hopes to rebalance the UK economy and use exports to drive future growth.

The study by Close Brothers, based on public trade data, says that the value of UK exports to the five countries plunged by 16% to £9.2bn between the second quarter of 2008 and the first quarter of this year.

The fall accounted for almost half of a general 6.6% drop in UK exports over the same period, the merchant bank said.

"The plight of Portugal, Italy, Ireland, Greece and Spain has been well documented and the UK's exporters have been hit hard by this," said Mark Taylor, head of foreign exchange at Close Treasury, a unit of Close Brothers.

The fall comes despite an 11% drop in the value of sterling against the euro over the same period, making British products more affordable abroad.

Exports to Greece plunged by 23%, to only £343m, while sales to Ireland, Britain's biggest trading partner in the group, fell by 20% to £3.8bn, from £4.7bn in 2008. Deals with Spain fell by 10.5% to £2.4bn.

Aah - £343 million is just to Greece.

I wonder how much we buy from them?
Go to the top of the page
 
+Quote Post

5 Pages V   1 2 3 > » 
Reply to this topicStart new topic
1 User(s) are reading this topic (1 Guests and 0 Anonymous Users)
0 Members:

 

Lo-Fi Version Time is now: 20th November 2017 - 07:25 PM