Eurogeddon!

Cork boy 55 · 28-11-2011 06:10PM

The telegraph as a source of information on europe LOL
That paper is on a mission to destroy the euro.
That is it's editdal role

Are people retarded are what

My name is URL · 28-11-2011 06:16PM

It's hardly the only publication to ever be skeptical of the single currency. Many well respected economists and scholars have been critical and cynical about it since before the currency was even introduced, and with good reason. The majority of whom were subsequently sidelined as cranks and contrarians.

It's not exactly a glowing example of how a single currency can make people's lives better is it?

abouttobebanned · 28-11-2011 06:25PM

I don't think it will happen...but then again, a FG politician was on newstalk last week and said it definitely won't happen. This wasn't long after he said our budget was still being worked on so couldn't have been leaked. So it's probably just a matter of "when" rather than "if"

People debts would decrease...but so would their savings. An unfathomable situation.

Killer Pigeon · 28-11-2011 06:31PM

Whatever travesty happens in Europe, in an economic sense, will have greater repercussions for Ireland as it will lead to the inevitable collapse of the EU.

HalloweenJack · 28-11-2011 06:50PM

Times like this I'm glad I live outside the Eurozone.

Whatever about the Euro, I don't see the EU collapsing.

My name is URL · 28-11-2011 06:50PM

Killer Pigeon wrote: »

Whatever travesty happens in Europe, in an economic sense, will have greater repercussions for Ireland as it will lead to the inevitable collapse of the EU.

Not necessarily. It might lead to a reorganization of the EU and a rethink of how it functions and of what purpose it serves. It could actually lead to a strengthening of the EU. Perhaps a move towards a truly federalised form of governance, with a unified fiscal policy and outlook. Instead of a pick & mix of ideals and a woolly headed view of what a 'union' actually is.. like we have today.

antodeco · 28-11-2011 06:59PM

Think I should convert all my savings to either sterling or yen.

ejmaztec · 28-11-2011 07:08PM

Imageddon sick of all this sh1te and refuse to participate.

https://www.youtube.com/watch?v=1aXpty_1xo4

Crazy Horse 6 · 28-11-2011 07:18PM

antodeco wrote: »

Think I should convert all my savings to either sterling or yen.

I'm genuinely surprised people still have'nt done this.

The Outside Agency · 28-11-2011 07:24PM

antodeco wrote:

Think I should convert all my savings to either sterling or yen.

Crazy Horse 6 wrote:

I'm genuinely surprised people still have'nt done this.

What surprises me is people believing those currencies are any safer.

Dartz · 28-11-2011 07:54PM

Well... I'm going to take all my euros out of the bank and if any of you were smart you'd do the same, before all the money's gone and you're left broke.

Toilet paper will be worth more than a Euro note when it all tanks.

Better of buying something with it, while it's still worth something.

Solnskaya · 28-11-2011 08:14PM

Dartz wrote: »

Well... I'm going to take all my euros out of the bank and if any of you were smart you'd do the same, before all the money's gone and you're left broke.

Toilet paper will be worth more than a Euro note when it all tanks.

Better of buying something with it, while it's still worth something.

im off to get eleventy-five thousand rolls of kittensoft, they won't catch me out like last time. feckin reichsmarks.....

28-11-2011 10:35PM

On RTE news at nine, Polish Prime minister begs Germany rot leadership as he is panicking as the crisis gets worst.

Scaremongers at the top. :mad:

Einhard · 28-11-2011 10:38PM

Should we start unpacking our iodine tablets now or wait for it all to kick off fully?

Where To · 28-11-2011 10:52PM

I'm investing all my money in lapdancers in the north east of England.

Killer Pigeon · 28-11-2011 10:54PM

My name is URL wrote: »

Not necessarily. It might lead to a reorganization of the EU and a rethink of how it functions and of what purpose it serves. It could actually lead to a strengthening of the EU. Perhaps a move towards a truly federalised form of governance, with a unified fiscal policy and outlook. Instead of a pick & mix of ideals and a woolly headed view of what a 'union' actually is.. like we have today.

How would the death of the €uro ever contribute to a stronger EU. That it beyond me. If the €uro collapses, Ireland goes back to some IR£ and we'll probably suffer greatly due to inflation when we return to the IR£. Similar events would happen in other smaller former-€urozone states, which will have negative effects on other larger member states due to the intricacies of the EU. Think default, economic stagnation, unemployment and the rise of euro-skepticism and nationalism. This will all contribute to a more fragmented EU. In the ensuing chaos, Ireland and other smaller Europeans states, would suffer more than the larger ones.

28-11-2011 10:57PM

Limits to global economic growth due to restricted oil supplies is already in progress.

Whether the Euro goes or stays won't change that key fact, we're screwed either way.

Crazy Horse 6 · 28-11-2011 11:01PM

Real sense of panic out there it seems. Hopefully this kicks off sooner rather than later.

Sky King · 28-11-2011 11:09PM

Deleted User wrote: »

Limits to global economic growth due to restricted oil supplies is already in progress.

Any restriction of oil is man-made, there's loads of it out there. Loads and loads. People have been predicting peak oil for years.

28-11-2011 11:11PM

Sky King wrote: »

Any restriction of oil is man-made, there's loads of it out there. Loads and loads. People have been predicting peak oil for years.

Yes there is!

But, it's the rate of extraction and it's cost that are the problem.
The quicker you want it, the more expensive it is,

Expensive oil kills growth!

The Euro (well all economies) is dependent on infinite growth!

pragmatic1 · 28-11-2011 11:29PM

I just hope if we go down we'll bring France and eventually Germany with us. It'll be anarcy in those countries with the size of their populations.

questionmark? · 29-11-2011 12:00AM

iamstop wrote: »

We'll be back in the Stone age, aka the 80's. Crap roads, crap jobs and crap fashion taste.

What hold on a second. If the euro goes belly up they take our roads that they part financed as well?

Right lads time to take the roads in, just in case like!

danger mouse · 29-11-2011 12:12AM

Wont somebody please think of the children.

df1985 · 29-11-2011 12:14AM

say the euro does go and we go back to punts. if you had say 1000 euro does that become 1000 new punts or how does it work?

afrodub · 29-11-2011 12:16AM

Korvanica wrote: »

Heard rumours that they were printing punts in the mint.. have been for the last week or two..

probably bull**** though...

Ohh..If only I were opening a new bar,you`ve just inspired its name for me..I can see it now the grand opening on Dame Street ...`The Punts In The Mint` lulz

Amirani · 29-11-2011 12:16AM

df1985 wrote: »

say the euro does go and we go back to punts. if you had say 1000 euro does that become 1000 new punts or how does it work?

It might be, the punts will be worth an awful lot less though. If you owe a bank 10k in sterling for example, you may overnight end up owing 30k in punts to pay back the appropriate amount.

Crazy Horse 6 · 29-11-2011 12:19AM

df1985 wrote: »

say the euro does go and we go back to punts. if you had say 1000 euro does that become 1000 new punts or how does it work?

Yeap and then in the space of a few hours the punt will be massively devalued.

Proxy · 29-11-2011 01:02AM

Crazy Horse 6 wrote: »

I'm genuinely surprised people still have'nt done this.

And you have?

29-11-2011 01:17AM

df1985 wrote: »

say the euro does go and we go back to punts. if you had say 1000 euro does that become 1000 new punts or how does it work?

Your IR£1000 will still buy IR£1000 worth of goods, but if those goods are imported then they may end up costing more.

A realistic devaluation would be in the order of 15-20%, so petrol will go up to about IR£1.80 a litre very quickly.

But don't forget that this is a global problem, not just a European one, if Irish exports suddenly become cheap, others will devalue their currencies to remain competitive.

So the effects of the devaluation may not be as bad as many fear.

youtube! · 29-11-2011 01:18AM

surely the norwegian krone is the currency to change to,strongest in the world and a lot more stable than sterling or yen.

Eurogeddon!

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