Pack of cards.........JR8 wrote:Weeeeee! What fun!
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'Investors do not fully believe EU pledges that the 21pc "haircut" agreed for private holders of Greek debt is the end of the story, or will remain confined to Greece, as the second Greek rescue is already unravelling. A Greek parliament report concluded that deep recession is pushing the country into a downward spiral, causing debt dynamics to fly "out of control". Public debt will reach 172pc of GDP next year.
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http://www.telegraph.co.uk/finance/fina ... risis.html
Actually he's one of the guys holding it together. One of the good guys that is.JR8 wrote:Barroso is one of those big EU figures, that no one knows what he does or gets to vote for him? It's just he wields daily influence over all of their lives.
Figures for an EU commie I suppose.
aster wrote:JR8 wrote: Actually he's one of the guys holding it together. One of the good guys that is.
Greece cheated its way into the Euro-zone and then cheated its way to even greater loans
Come on Aster be honest nowaster wrote:Just one word: Switzerland
Seems like they will be pegged to the Euro for years to come...
Um, yeah... and that's exactly why the UK should join the Euro.JR8 wrote:The only reason Switzerland is considering linking to the euro is because the euro area is it's main trading partner.
It's not strictly about the Euro at all so no point in singling it out. It's about all other currencies in general, and how money is pouring into CHF as a result of nothing else looking attractive. Before you could switch back and forth between the Euro and USD, but now it seems that there is nowhere to run.JR8 wrote:Plus, the euro is proving about as reliable as a Weimar D-Mark and hence euro funds are flooding into CH making their economy uncompetitive.
Can you blame the people for not wanting to fund all the lazy sobs living by the Mediterranean at Germany's expense?JR8 wrote:You saw Merkel lost this weekend's state election in Mecklenburg- Western Pomerania, her home state? The German public are fed up with bailing out the rest of Europe. That's 5 state elections in a row that she has lost!
Why is there a question mark there? The currency dropped EXACTLY how much the Swiss wanted it to. To the frigging penny in fact! Now that's what I call precision.JR8 wrote:Well they got their peg, and the currency instantly dropped, what ...8%?
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