Telegraph article on Euro collapse

femur61

In yesterdays Telegraph English diplomats at their embasies in Europe have been warned to prepare to help ex pats when the Euro collapses.
http://www.telegraph.co.uk/news/politics/8917077/Prepare-for-riots-in-euro-collapse-Foreign-Office-warns.html :eek:

Our government, or the powers to be in Europe don't appear to have any plan B at all.

ardmacha

That's good news. I can ring Ballsbridge and have them evacuate me to South Armagh when the sh|t hits the fan.

andrew

It's a contingency plan. I'm sure they have one for lots of things; it's doesn't mean they're expecting one to happen with any great certainty.

Maura74

UK is go grateful for what is happening in EU they can be blamed for their failing economy. UK is worry about the recession that is predicted for 2012 and the EU is taking the emphasis of that. UK government cannot keep blaming the previous government any longer as they people got fed up with that malarkey.:(

maquiladora

andrew wrote: »

It's a contingency plan. I'm sure they have one for lots of things; it's doesn't mean they're expecting one to happen with any great certainty.

Yet the article says...

A senior minister has now revealed the extent of the Government’s concern, saying that Britain is now planning on the basis that a euro collapse is now just a matter of time.

[Jackass]

Well, I guess the world will end in 2012. Apocalypse, here we come!!

andrew

maquiladora wrote: »

Yet the article says...

The telegraph is notoriously anti Europe, and if the Senior Minister was a Tory, they are too. And it's not clear that the collapse of the euro is 'a matter of time;' the fact is nobody knows whether it is or it isn't.

Ellis Dee

Silly you to take the Torygraph and its wishful thinking articles seriously.:):):)

AllGunsBlazing

There's more to it now than just the usual euro sceptics.


http://www.nytimes.com/2011/11/26/business/global/banks-fear-breakup-of-the-euro-zone.html?hp

Banks including Merrill Lynch, Barclays Capital and Nomura issued a cascade of reports this week examining the likelihood of a breakup of the euro zone. “The euro zone financial crisis has entered a far more dangerous phase,” analysts at Nomura wrote on Friday. Unless the European Central Bank steps in to help where politicians have failed,“a euro breakup now appears probable rather than possible,”the bank said.

This only confirms to me that the idea being floated by Merkel of closer integration is not going to improve matters. If anything it reinforces the notion that the EU is a toothless bureaucracy.


Either Merkel steps up and bolsters the ECB or the euro will be long dead by the time the ink has dried on her precious new treaty.

Nolanger

andrew wrote: »

The telegraph is notoriously anti Europe

But nothing on the Daily express.

323

andrew wrote: »

The telegraph is notoriously anti Europe, and if the Senior Minister was a Tory, they are too. And it's not clear that the collapse of the euro is 'a matter of time;' the fact is nobody knows whether it is or it isn't.

Need to read the Telegraph more then

Scofflaw

323 wrote: »

Need to read the Telegraph more then

Go the whole hog and read the Daily Mail - just don't expect to be 'well-informed' as such, though!

cordially,
Scofflaw

cgarrad

It gets worst, time to stock pile the baked beans ;-)

http://www.economicpolicyjournal.com/2011/11/hot-insider-warns-europes-banking.html

pacquiao

conspiracy nonsense.

Scofflaw

cgarrad wrote: »

It gets worst, time to stock pile the baked beans ;-)

http://www.economicpolicyjournal.com/2011/11/hot-insider-warns-europes-banking.html

That's the same Pippa Malgrem who claimed she had inside information about 3 months ago that Germany was going to replace the euro with the DMark within a couple of weeks.

You might actually be better off reading the Daily Mail.

cordially,
Scofflaw

kennyb3

Scofflaw wrote: »

That's the same Pippa Malgrem who claimed she had inside information about 3 months ago that Germany was going to replace the euro with the DMark within a couple of weeks.

You might actually be better off reading the Daily Mail.

cordially,
Scofflaw

+1, you can hit back and look at here previous articles which have been predicting Germany reverting to the DM for months but nothing has happened.

Scofflaw

kennyb3 wrote: »

+1, you can hit back and look at here previous articles which have been predicting Germany reverting to the DM for months but nothing has happened.

But no doubt if it did happen she would claim - and be given by many - kudos for having predicted it.

Funny, really, people have no problem spotting that someone who says "horse x will definitely win today" repeatedly as horse x consistently fails to win isn't suddenly vindicated because horse x finally wins something - but don't seem to apply the same logic to economic and political analysts. Presumably it's the lack of having some actual cash at stake that does it.

cordially,
Scofflaw

dario28

Whats the chances of this scenario

You transfer your saving to deutsche bank , Germany

Wake up Euro is gone , DM is new currency in Germany , you rock over to take your cash out and they refuse to give it to you in DM

This was in the Times yesterday

Tabnabs

An interesting piece in the FT

http://blogs.ft.com/gavyndavies/2011/11/27/thinking-the-unthinkable-on-a-euro-break-up/#axzz1f0VXqEoV

kennyb3

dario28 wrote: »

Whats the chances of this scenario

You transfer your saving to deutsche bank , Germany

Wake up Euro is gone , DM is new currency in Germany , you rock over to take your cash out and they refuse to give it to you in DM

This was in the Times yesterday

Possible but unlikely imho. Who would deposit money there in the future in that case? Everything is possible though and again i ll repeat it would all depend in what way there was a break up. There are numerous scenario's unfortunately its difficult to be be on the right side of all them.

Scofflaw

Tabnabs wrote: »

An interesting piece in the FT

http://blogs.ft.com/gavyndavies/2011/11/27/thinking-the-unthinkable-on-a-euro-break-up/#axzz1f0VXqEoV

The points made in that article are, for me, why a euro breakup still seems highly unlikely. The costs to the strong economies of allowing it to break up are still almost certainly very much larger - and more importantly are very much less predictable - than the costs of paying for its continuation, which are still within the ordinary realm of unpleasantness.

cordially,
Scofflaw

GSF

Scofflaw wrote: »

The points made in that article are, for me, why a euro breakup still seems highly unlikely. The costs to the strong economies of allowing it to break up are still almost certainly very much larger - and more importantly are very much less predictable - than the costs of paying for its continuation, which are still within the ordinary realm of unpleasantness.

cordially,
Scofflaw

you make the assumption that politicians are rational. :eek:

Scofflaw

GSF wrote: »

you make the assumption that politicians are rational. :eek:

Not really - that's definitely part of the downside risk. Unfortunately, some of their concerns are eminently rational (for democratic politicians) - it may simply be impossible to sell the necessary steps to their electorates.

On the other hand, it would take a positive decision by a government to leave the euro, and so far, it's just not strongly in anyone's interest to do so.

cordially,
Scofflaw