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I figure they will weather this crisis and become ever larger and stronger. Eventually oil will be sold for Euro's as well as dollars. In the longer future it will also trade in Yuan (Chinese money) and then we will see how badly we were suckered by the Western Oil cartels.
Europe will do fine as we collapse under our military obligation to the oil barons. We are driven by ideology but the Europeans by rational thinking about stability and profit for most
Eurozone will probably cease to exist by 2013, according to a new study published on Monday.
Sliding euro and falling states expenditure will avert economic recovery in Southern Europe, widening the gap between the core Eurozone and peripheral countries, said Centre for Economics and Business Research (CEBR), UK.
“New forecasts for the Eurozone imply need for severe adjustment measures unacceptable to electorates in Southern Europe,” the report said.
Jean-Claude Juncker , head of eurozone finance ministers, on Saturday had cautioned that the ongoing debt crisis of Greece and other countries in the region could hit Italy and Belgium, Suddeutsche Zeitung, a German daily reported.
Noting that the crisis could have disastrous effect on the currency of the region, euro, he warned "we are playing with fire".
Europe will do fine as we collapse under our military obligation to the oil barons. We are driven by ideology but the Europeans by rational thinking about stability and profit for most
You must have gotten that bit of info from a comic book.
The likelihood of a breakup is already impacting bond prices. This may be a few years coming, but it certainly is a high possibility.
(Reuters) - Some investors are openly betting on a euro zone breakup, using Italy as a proxy, Credit Suisse has told clients, while a Japanese brokerage is advising investors to position for such an event.
The collapse of the euro zone is still widely considered unlikely in financial markets and denied vehemently in European corridors of power. But the taboo of talking about it has weakened.
Of the two research notes -- both from non-euro zone financial institutions -- Japanese brokerage Mitsubishi UFJ Securities was the bluntest.
"It is quite possible that (euro zone) exits will occur, starting in the periphery zone," it said on Tuesday.
"In valuing the government bonds of mid-zone euro-government bonds (Belgium, Italy, Spain), investors should explicitly consider the scenario of (euro zone) exit and the extent of devaluation which would accompany that."
Credit Suisse told its clients on Monday that the reason Italy is currently under such pressure is that it is being treated as a "liquid proxy" for a euro break up.
Italian 10-year bond yields went above 6 percent for the first time since 1997 on Tuesday, reflecting a self-fulfilling investor concern that the euro zone debt crisis was spreading.
I hope the € implodes and the EU goes under. Because the EU is an experiment in regionalization of the world and, ultimately, world government. If this experiment in social and governmental engineering goes under, the world can breathe a sigh of relief once again
Imagine the chaos if the same thing happened here and the US was suddenly 50 newly created independent countries.
Imagine the chaos if the same thing happened here and the US was suddenly 50 newly created independent countries.
That would be a good move. There is no reason why people in Alabama should have to define their lives like the people in Indiana. We need to transfer 90% of the Federal government power to the states so people can exercise more freedom.
That would be a good move. There is no reason why people in Alabama should have to define their lives like the people in Indiana. We need to transfer 90% of the Federal government power to the states so people can exercise more freedom.
George Soros warned of an international economic collapse and several nations leaving the euro currency at a panel discussion in Vienna, Austria this past weekend.
Soros, the legendary investor who ran the Quantum Fund with Jim Rogers, stated that “There’s no arrangement for any countries leaving the euro, which in current circumstances is probably inevitable. We are on the verge of an economic collapse which starts, let’s say, in Greece, but it could easily spread. The financial system remains extremely vulnerable,” according to a Bloomberg report.
“I think most of us actually agree that” Europe’s crisis “is actually centered around the euro,” Soros continued. “It’s a kind of financial crisis that is really developing. It’s foreseen. Most people realize it. It’s still developing. The authorities are actually engaged in buying time. And yet time is working against them.”
Isn't Soros they guy who made billions speculating against the individual currencies of Europe?
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