The Euro Won't Survive 5 Years - What Do You Think? Bets Here!
Discussion
When the Euro started out, I outlined the reasons why it didn't make sense to my tutors at the time.
I don't think it will be around in 5 years time, given the fundamental necessity that a currency area requires a common political, fiscal and economic unity. The Euro nations, in my opinion, won't ever get this.
Are you prepared to state your view on the Euro, to be reviewed in 5 years time on this very thread?
I don't think it will be around in 5 years time, given the fundamental necessity that a currency area requires a common political, fiscal and economic unity. The Euro nations, in my opinion, won't ever get this.
Are you prepared to state your view on the Euro, to be reviewed in 5 years time on this very thread?
It will probably still exist, just as two associated currencies, with a Northern Euro headed by the Netherlands and Germany, and a Southern Euro headed by Italy and Spain.
Europe is too committed to the euro as a symbol of post-war unification to ever let the euro fall apart entirely into nothing. It will survive only in mutated form, most likely. Germany won't let Europe divide up again because it's too obsessed with keeping it unified.
Europe is too committed to the euro as a symbol of post-war unification to ever let the euro fall apart entirely into nothing. It will survive only in mutated form, most likely. Germany won't let Europe divide up again because it's too obsessed with keeping it unified.
0a said:
When the Euro started out, I outlined the reasons why it didn't make sense to my tutors at the time.
I don't think it will be around in 5 years time
How long did you forecast it to last from the outset?I don't think it will be around in 5 years time
At the end of the day monetary union was and remains a political statement rather then a purely economic one. So in my analysis either Europe hangs together or it doesn't. Rightly or wrongly I don't see the Euro as a separate issue.
Gaz. said:
What I find absolutely galling is that RBS have a finger in every single dodgy pie, every time some bad news makes the hardlines, some sniviling spokesman from that bank says "er, we have £XXbn exposure/we've lost £XXbn in write downs on that deal/company/country/we may need another bail out". To that end if the Euro fails and all the piigs collapse [b]RBS are going to be in some real trouble[/].
I need to be a bit careful what I say here, but my father worked closely with a certain person back in the late 80s and into the 90s who (somehow) later appeared on the board of RBS. (and I've met him too - lovely chap)His (my father's) stories make for some very interesting listening (and more than enough 'Jesus... WTF?' comments have been thrown across the dinner table) and no I'm not going to post any of them here.
But when you look and see that, this said person is allegedly reported as allegedly admitting
"At a meeting of the Treasury Select Committee of the House of Commons on February 10, 2009, he admitted to having no qualifications in banking. Like the other retired bankers present, he also apologised for the financial crisis"
I think we can finally begin to understand where this fluster cuck is going....
Ozzie Osmond said:
How long did you forecast it to last from the outset?
At the end of the day monetary union was and remains a political statement rather then a purely economic one. So in my analysis either Europe hangs together or it doesn't. Rightly or wrongly I don't see the Euro as a separate issue.
10 years. At the end of the day monetary union was and remains a political statement rather then a purely economic one. So in my analysis either Europe hangs together or it doesn't. Rightly or wrongly I don't see the Euro as a separate issue.
EDLT said:
I think the "The Euro will collapse this week" thread will still be running in five years.
http://www.pistonheads.co.uk/gassing/topic.asp?h=0...
Mermaid said:
EDLT said:
I think the "The Euro will collapse this week" thread will still be running in five years.
http://www.pistonheads.co.uk/gassing/topic.asp?h=0...
Maybe the OP can edit this thread and turn it into a poll?
F93 said:
It will probably still exist, just as two associated currencies, with a Northern Euro headed by the Netherlands and Germany, and a Southern Euro headed by Italy and Spain.
Europe is too committed to the euro as a symbol of post-war unification to ever let the euro fall apart entirely into nothing. It will survive only in mutated form, most likely. Germany won't let Europe divide up again because it's too obsessed with keeping it unified.
I think you just explained why they gobbled up Eastern Europe at the drop of a hat, just to stop them going back to Russia. Now we have a bunch of parasites leeching off us!Europe is too committed to the euro as a symbol of post-war unification to ever let the euro fall apart entirely into nothing. It will survive only in mutated form, most likely. Germany won't let Europe divide up again because it's too obsessed with keeping it unified.
AJS- said:
I think it will survive, maybe with Greece and one or two others abandoning it.
Don't mind admitting I've been predicting it's imminent collapse since day 1 and been wrong for 12 years or so now... Just as well I'm not a currency speculator.
I don't think it'll be the weak ones abandoning it though - unless they get paid to do so! As has been said, its a political union supported blindly by politicians as they see the EU as a potential future employer. Its amazing how simple the motivations of the political elite really are. Its all "me me me"!Don't mind admitting I've been predicting it's imminent collapse since day 1 and been wrong for 12 years or so now... Just as well I'm not a currency speculator.
AJS- said:
Don't mind admitting I've been predicting it's imminent collapse since day 1 and been wrong for 12 years or so now...
No you haven't. On day one you were right, day two a bit more righter and day 3 righter still.....I think you get the drift. It was condemmed to a slow death from the moment it was launched. The only thing that has kept the Euro alive is 12 years of ridiculously rising house prices and the various methods banks have used to "make" money off the back of them. Without these variables it would have died years ago.In answer to the OP's question - the Euro is dead. If it was a patient in hospital it would be a flat line, whilst the arrogant head Dr's tried everything to revive the patient everyone else would just look on in disgust as they talk about putting Stavros on a life support machine. The patient is brain dead, let them die.
How many more hundreds of Billions do you want to throw at this?? Paying tax in Greece is optional.....I can't think why you (and others) are so f
king fked!!F93 said:
It will probably still exist, just as two associated currencies, with a Northern Euro headed by the Netherlands and Germany, and a Southern Euro headed by Italy and Spain.
Europe is too committed to the euro as a symbol of post-war unification to ever let the euro fall apart entirely into nothing. It will survive only in mutated form, most likely. Germany won't let Europe divide up again because it's too obsessed with keeping it unified.
I do find it quite amusing is for them to 'unify' against the evil dictatorship spread over Europe. They have democratically spread over Europe to create a non-democratic rule.Europe is too committed to the euro as a symbol of post-war unification to ever let the euro fall apart entirely into nothing. It will survive only in mutated form, most likely. Germany won't let Europe divide up again because it's too obsessed with keeping it unified.
Apologies in advance for my (probably) simplistic view of things but, if all the various Eurozone countries agreed to re-introduce their own currencies, and take control of their own interest rates etc, would it be the end of the world as we know it, or would it be just a case of 'bring back the 90's'?
V88Dicky said:
Apologies in advance for my (probably) simplistic view of things but, if all the various Eurozone countries agreed to re-introduce their own currencies, and take control of their own interest rates etc, would it be the end of the world as we know it, or would it be just a case of 'bring back the 90's'?
I bet they still kept the currency stocks and printing machines just in case.elster said:
F93 said:
It will probably still exist, just as two associated currencies, with a Northern Euro headed by the Netherlands and Germany, and a Southern Euro headed by Italy and Spain.
Europe is too committed to the euro as a symbol of post-war unification to ever let the euro fall apart entirely into nothing. It will survive only in mutated form, most likely. Germany won't let Europe divide up again because it's too obsessed with keeping it unified.
I do find it quite amusing is for them to 'unify' against the evil dictatorship spread over Europe. They have democratically spread over Europe to create a non-democratic rule.Europe is too committed to the euro as a symbol of post-war unification to ever let the euro fall apart entirely into nothing. It will survive only in mutated form, most likely. Germany won't let Europe divide up again because it's too obsessed with keeping it unified.
Time to unleash financial firepower or face euro breakup
“Wolfgang Schaeuble, Germany's finance minister, has said that Europe can no longer be a halfway house, with a central bank but no finance minister, and with a common interest rate but no tax and spending powers to move resources from one part of monetary union to the other.
He says: "I am convinced that, with the escalation of the crisis, the time has come to accelerate the process of changing the political and institutional structures of the union towards a political and fiscal union."
This is the sort of talk that makes eurosceptics wince, since Schaeuble is really talking about the creation of a single European state in which countries lose the ability to levy their own taxes and make their own spending priorities."
“History suggests that in the long term monetary unions either develop into political unions or they collapse.”
0a said:
This is the sort of talk that makes eurosceptics wince, since Schaeuble is really talking about the creation of a single European state in which countries lose the ability to levy their own taxes and make their own spending priorities."
Christ......that scares me. I think we are along way and many battles away from that. I can just see Europe's faces now when we show them how much we spend on the NHS and welfare and ask them to chip in.....
0a said:
I don't think it will be around in 5 years time, given the fundamental necessity that a currency area requires a common political, fiscal and economic unity. The Euro nations, in my opinion, won't ever get this.
I can't help but thinking that you're underestimating the political will of the leaders of the EU. Certain factions have always wanted a federal Europe, and this is the vehicle they'll use to try and get it. It wouldn't surprise me at all if they succeed through a combination of disinformation, market manipulation and voter apathy.If they manage it, the Euro will be around for a long time to come.
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