EU urges world to aid Eurozone

obplayer · 20-12-2011 12:33am

ilovesleep wrote: »

If the Euro collapses it means that the money in your pocket, be it euro or a new currency will be worthless which means no more imports . Life would be somewhat livable without the all the fancy things that we have in our homes like tvs, cameras, ipads, phones, computers, although it will be very painful at first and a huge shock to the system..But over time we will get used to it.

Transport - people will not be able to buy cars and those with cars will not be able to fuel them. Oil, petrol and diesel would be too expensive. Many shops in many locations will run dry of supplies - food and toiletries due to the lack of transportation with suppies. We'd probably be looking at using a donkey and cart.

Clothing and shoes are imports too. When the clothing we have falls to rags we'd be looking at perhaps wearing potatoe sacks and using rope for a belt.

High unemployment due to companies closing. A new way of life would be stitching footballs for a living.

We coped before the Euro. Why can't we cope afterwards, after I admit a period (a week or two) of chaos? We joined the Euro, why can't we unjoin it?

obplayer · 20-12-2011 12:46am

obplayer wrote: »

We coped before the Euro. Why can't we cope afterwards, after I admit a period (a week or two) of chaos? We joined the Euro, why can't we unjoin it?

Serious question. Before Ireland joined the Euro it had to buy goods from abroad. What, fundamentally, would change if we had to go back to the Punt?

hmmm · 20-12-2011 12:47am

Crazy Horse 6 wrote: »

Plenty of rumours doing the rounds in the financial sector that this whole thing would collapse within a few days.

No there isn't.

hmmm · 20-12-2011 1:03am

obplayer wrote: »

Serious question. Before Ireland joined the Euro it had to buy goods from abroad. What, fundamentally, would change if we had to go back to the Punt?

There's lots of answers here already, but the downsides in summary:
1. Massive overnight inflation as the Irish punt falls in value, so everyone becomes instantly much poorer
2. A mess of legal contracts which have people owing money and repaying money in Euros - what happens now?
3. Our banks would be wiped out, along with people's savings
4. Massive cuts in public sector salaries and massive cuts in social welfare to bridge the deficit

Celly Smunt · 20-12-2011 1:06am

Euro in the gutter is of no use to anybody,Massive Losses for all nations,it won't be allowed to fail.

billybudd · 20-12-2011 1:19am

I doubt it will fail but even if it did it would not be the doomsday scenario everyone is suggesting, you would be worth less and things would be a tad more expensive, if the world made everything to expensive so people cant buy anything then what would be the point of that?

In short whether it is the euro or punt it will be fine, we could all do with losing a few pounds anyway.

billybudd · 20-12-2011 1:26am

Crazy Horse 6 wrote: »

Plenty of rumours doing the rounds in the financial sector that this whole thing would collapse within a few days.

It is called financial manipulation and yes alot of financial sectors are predicting its demise but only so they can profit from the panic of people shifting one currency to a different currency and then back again and lots of different little games they have going so they drive down the price of one thing only to buy it and only to sell it a week later when more calm enters the market.

These financial speculators make a million in a minute rather than a week because they manipulate mules into carrying these rumours into the national mindset.