Discussion in 'Europe and Russia' started by W.G.Ewald, May 15, 2012.
Merkel tells Greece to back cuts or face euro exit - Telegraph
China holds how much debt in Euro? I think CCP will go on a buying spree.
Ewald - im actually livnig in a country where this is very relevant !!
thanks for starting the thread , i do hope it'll catch on although i may not be lknowledgaeable enough to post -
anyway i've given it a "like"
first CCP like money, they don't like spend.
second, CCP need to spend to help, but few willing to sale.
What about the Euro? will that currency also cease to exists?
What are the consequences that India will face?
Everyone will get affected if EU breaks, more so the EU countries themselves. It will take some time for countries to adjust to the new financial order of the world what with new currencies, new rules etc..
Holland was happy and stronger during guilder times and they are happy to return to guilder again. baki Europe bard me jaye who cares
i think euro will survive and wont go bust. European ambitions and "New World Order" wont let euro down.
for immediate and near term correction : buy more gold. go solid behind US dollar.
Greece NOT to exit.
Business Line : Industry & Economy / Economy : Greece not exiting euro currency grouping
DD im here in europe and you "might " be right ,but i sure do remember the days prior to the euro and food and commodity prices were les than half what they are now ....i mean starting from a simple coffeee int the mornings to whatever else, including purchasing a house.
So you mean to say that if their is a break up of Eurozone, it is good?
I am surprised how people believe in such news. Euro is a very close to the heart experiment for most Europeans and they are not going to abandon it so soon. The recent discussions that were held in February further paved the way for close direction of the Euro economy. Although, there are few discontented voices in Germany as well as Greece but they are not taken seriously.
On the whole Euro provides more flexibility to the work-force as well as to the movement of goods. What they needed was more fiscal consolidation and monitoring, which they are eventually going to achieve. Greece is anyway a liability and not an asset as they have defaulted five times in the last two centuries. Their exit would strengthen the Euro but it would bring about the discussion on conditions under which nations can exit Euro. But I do not think Greece would exit soon, as they are screwed in any case. They need to work hard and stop living on their social securities.
Correct. I wonder if you have read the Eurosystem BOP?
I agree. The idea of Euro started in reality in 1922 though there was an attempt to create a more egalitarian system in 1944 at Bretton Woods which the Brits and Americans hijacked. However in 1957 with Rome Accord and then in 1992 the Mastricht treaty the Eurosystem was born and Euro came into existence on 1Jan 1999.and became a transactional currency on 1 Jan 2002.
If you can read financial statements, please read this link
Euro is the only currency in the world which has severed its link to the nation state and to Gold.
Buy as much gold as you can. But then we are Indians, we do not need to be told to buy GOLD.
It was a goddamned Tower of Babel from the start, IMHO.
Tower of Babel - Wikipedia, the free encyclopedia
Is there anything specific you want me to notice from the financial statements? All I could see were weekly statements and it is difficult to draw time series conclusions from there.
This is what I want everyone to see about Euro and gold;
Look at the first line of the ECB consolidated financial statement. Its gold and look at this quarterly statement from 1999 to date. AND LO BEhold how gold has increased in value not quantity while the forex reserves have reduced in value but increased in quantity.
So, ECB is using gold as a hedge rather than using $. I think it makes sense given their size.
A bit more than making sense. Gold is coming back into fashion. Not as a jewellery item nor as a gold standard. It has always denominated the wealth of nations. And now its coming back as the same. No more US dollars reserves as advertised by the government of India. But number of tons of the precious stuff.
Separate names with a comma.