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Author Topic: It's not IF the euro collapses . . . but WHEN  (Read 1746 times)

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Offline BlueStateSaint

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It's not IF the euro collapses . . . but WHEN
« on: December 12, 2010, 04:12:30 PM »
I found this link courtesy of SurvivalBlog.com, and I heard rumblings of this story earlier this week.

Quote
It's not IF the euro collapses . . . but WHEN

By Andrew Alexander

Last updated at 8:14 AM on 8th December 2010

Comments (23) Add to My Stories

The sheer disarray among European leaders over the euro, which seems to get worse whenever they meet, underlines the changing nature of the big question of the day.

It is not now whether the euro system will come apart at the seams, but when: in days, months, years?

The markets are, understandably, nervous. The prices paid for Portuguese government bonds say the country needs a rescue — but their finance minister hotly denies it. Which is reminiscent of Ireland’s Taoiseach pooh-poohing the idea three weeks ago that any rescue was needed for Ireland.

The IMF says the reserve fund the eurozone nations have cobbled together after the Greek troubles is too small. The zone’s finance ministers insist that it is ample.

With so many in or near the firing line — even the names of Belgium and Italy are whispered — the call goes out for the European Central Bank to prop up the weak nations by taking over their bond issues.

Not on your life, says Germany’s Angela Merkel. Her voters would not stand for taking over other nations’ borrowing.

It's going to be . . . an interesting time to be in Europe, will it not? :fuelfire:


Read more: http://www.dailymail.co.uk/debate/article-1336672/Euro-crisis-Its-IF-euro-collapses-WHEN.html#ixzz17wE1J5Bs
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Offline true_blood

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Re: It's not IF the euro collapses . . . but WHEN
« Reply #1 on: December 12, 2010, 08:47:01 PM »
Quote from: BlueStateSaint on December 12, 2010, 04:12:30 PM
I found this link courtesy of SurvivalBlog.com, and I heard rumblings of this story earlier this week.
It's going to be . . . an interesting time to be in Europe, will it not? :fuelfire:
It is indeed. The imposter will probably have the U.S. help bail them out, once again. :mental:
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Offline DumbAss Tanker

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Re: It's not IF the euro collapses . . . but WHEN
« Reply #2 on: December 13, 2010, 11:01:54 AM »
Quote from: true_blood on December 12, 2010, 08:47:01 PM
It is indeed. The imposter will probably have the U.S. help bail them out, once again. :mental:

Except that he's likely to find himself already overcommitted with trying to get Federal bailouts for the NY and Kailfornistan public employee pensions from a hopefully-hostile Congress (At least the House) by the time it comes up.
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Offline Lacarnut

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Re: It's not IF the euro collapses . . . but WHEN
« Reply #3 on: December 13, 2010, 11:40:04 AM »
If and when Spain goes under, Germany will withdraw and start using the Mark as their currency. They are  close to the breaking point of having to bail out these countries that have very low retirement ages with generous benefits and pensions.
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