tag:blogger.com,1999:blog-36227136.post6067888150495619866..comments2024-01-16T08:40:53.682+00:00Comments on <a href="http://www.openeurope.org.uk">Open Europe</a>: No, the euro hasn't been saved yetOEhttp://www.blogger.com/profile/00556463374230498875noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-36227136.post-52584474699028974742012-07-02T16:41:35.600+01:002012-07-02T16:41:35.600+01:00The technicalities of this obscure bit of shufflin...The technicalities of this obscure bit of shuffling non-existent funds is mind-boggling enough without the knowledge that nothing any of them can do will make the slightest bit of difference asl long all the PIIGS+C countries cannot prosper with (for them) a grossly over-priced euro. <br /><br />THAT is the whole problem and nobody wants to suggest the only and obvious solution - namely that they (and a few more too) should all leave the euro.<br /><br />It's utterly bizarre that they can endlessly meet and never discus the ELEPHANT of a problem facing them. They're as blinkered in their quasi-religious belief as a bunch of Scientologistschristina Speightnoreply@blogger.comtag:blogger.com,1999:blog-36227136.post-78181172795682663962012-07-02T13:35:19.682+01:002012-07-02T13:35:19.682+01:00Paying off 'most' of the interest on your ...Paying off 'most' of the interest on your Mastercard this month may be viewed as a 'success' because the card owners know you still have an income. However, you still have the full amount outstanding plus.<br /><br />Having seen the vicious way Sterling was dropped from the Exchange Rate Mechanism in Lawson's time, the markets do not encourage sentiment. In the space of 45 mins my mortgage went from 5% to 15+%, from 'we'll struggle' to 'we can't even sell' <br /><br />I would suggest the lifetime of the Euro is not when the last bit of borrowing runs out but when the markets feel they can make a lot of money by 'rocking the boat'. At this point passengers go overboard. The UK should be well away on the shoreline and BE SEEN to be doing the right thing even if we are as shaky as the rest.Sir Tainley-Voting UKIPnoreply@blogger.comtag:blogger.com,1999:blog-36227136.post-76911098329477739912012-07-02T12:19:31.366+01:002012-07-02T12:19:31.366+01:00Yet another dead cat bounce as the markets feel in...Yet another dead cat bounce as the markets feel instant relief, followed by grim realisation that nothing has changed. These funds have no money, just the mechanism of heavily indebted nations promising to borrow more to lend on at a lower interest rate to themselves and other equally indebted nations. It would be funny if it were not for the tragedy of the people living through a long drawn-out agony to keep the Brussels Bureaucrats in the luxury they think they deserve.Rollohttps://www.blogger.com/profile/18255460090580758354noreply@blogger.comtag:blogger.com,1999:blog-36227136.post-16776699451717116992012-06-29T19:23:57.717+01:002012-06-29T19:23:57.717+01:001. In the compromis proposal to go past Spain they...1. In the compromis proposal to go past Spain they were 2 weeks ago working on a Spanish government guarantee was to be included. Is it still there?Also the guy who leaked that should be shot this has cost his country Millions if not a few 00s more.<br /><br />2. Re bail out funds. If it is for buying on the secundary market, they would simply first need to collect cash to do that. Which could prove very difficult. Not even to mention the capital contribution in several annual term so it takes a while to normally capitalise it. For several other assistances they could use the EFSF or ESM bonds as payment and/or collateral.<br />Secundary market not only will eat your capacity faster than anything else you need to come up with real money (people want to be paid for their bonds).<br /><br />3. Conditionality for ESM/EFSF bondbuying is meeting Fiscal Compact criteria 3% I understood.<br />Spain doesnot meet that in the coming 2 or 3 years and Italy not much shorter. So difficult to place.<br />This way it would be a complete non-issue, which is on the other side hard to imagine.Riknoreply@blogger.com