The pack of Jackals moves on to the next Euro Carcass

Inquitus

http://www.guardian.co.uk/business/2010/nov/26/portugal-denies-pressure-eu-partners-euro-bailout

Anyone get a sense of Deja Vu?

Cookie_Monster

only multi million, sure what the worry there

Dirk Gently

Reports in the Financial Times Deutschland suggest that some eurozone countries and the European Central Bank are putting pressure on the country to ask for financial assistance.

However, the Portuguese government said the reports were "completely false".

sounds familiar alright. It's pretty obvious that the euro is going to collapse at this stage, or at least the weaker countries are going to have to leave. I can only assume that these forced bailouts will be the pigs golden handshake as the money wont be paid back.

th3 s1aught3r

Just looking at the Euro this morning is under huge pressue, down against the dollar. Also Portugal 'denying' they are being asked to take a bailout, sounds very familiar. Only a matter of time. If Spain goes thats it for the Euro in its present form ?

KindOfIrish

When EURO was introduced it was 1:1 to US Dollar. Current exchange rate 1:1.32 very bad for European and Irish exporters. As usual, Germans are doing right thing trying to devalue the currency.

Permabear

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th3 s1aught3r

donegalfella wrote: »

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So surely if the QE2 is making the dollar weaker in general, this makes the Euro fall even more alarming vis a vis the dollar ?

dan_d

It really is deja vu.

I understand WHY we are where we are. I understand how we got there. I understand why they wanted us to be bailed out. I understand why they pushed us into it. I understand the mechanics of why they want to bail Portugal out.

What I don't understand and am completely bewildered by is where on earth they are going with all of this.What is the bigger plan here?? I honestly am lost now. What's the point in frantically running around bailing countries out? What does this achieve? And since when did the markets dictate financial policies? I understand why they are a threat, but why, suddenly, have the markets become the key factor in all of this? And where does this end? What stops it? What is the goal here?

I am very much concerned that this is just firefighting....literally beating out bush fires. Putting band aids on a broken leg.Sticking your finger in the hole in the dam. What is the big plan here, what is the final goal of all this? My worry is that there isn't one...this is being made up as they go along. Which is a much greater worry to me than what's going on here in Ireland.

If this is the approach that is being taken, is there not some way that we can just wipe all debt out and start again? Because that's all they're doing, except in a far more convoluted way. It's beginning to look to me like a herd of sheep, running in each new direction dictated by who the markets set their sights on next, with no thought at all given to stopping, and considering the much bigger picture.

thebman

As long as Spain doesn't go most people say this strategy should work.

if Spain does go, the Euro may go with it or else we are looking at massive quantitive easing being likely here too IMO to pay off loans.

Sea Sharp

dan_d wrote: »

What I don't understand and am completely bewildered by is where on earth they are going with all of this.What is the bigger plan here?? I honestly am lost now. What's the point in frantically running around bailing countries out? What does this achieve? And since when did the markets dictate financial policies?

Just guessing here, but maybe any EU measures to deal with the toxic debts throughout Europe can be carried out in a mannerly fashion if EU governments hold the debts as opposed to the chaotic financial markets holding the debts.

enno99

dan_d wrote: »

What I don't understand and am completely bewildered by is where on earth they are going with all of this.What is the bigger plan here?? I honestly am lost now. What's the point in frantically running around bailing countries out? What does this achieve? And since when did the markets dictate financial policies? I understand why they are a threat, but why, suddenly, have the markets become the key factor in all of this? And where does this end? What stops it? What is the goal here?

https://www.youtube.com/watch?v=GYy7ulM-Z08

maybe this guy has the idea