The Euro is dead

[suityou01]

Some f*ckers in the city are making a mint on all this aggro!

I'd shoot them first and then sort out the banks. During the war it was called profiteering!

Modern term is "financial terrorism".

HTH

[scooterscot]

Some f*ckers in the city are making a mint on all this aggro!

I wonder where they got the money to speculate with?

So let me get this right, the UK prints money, gives it to the banks who use it to speculate on fragile economies driving them to the brink of bust.

Is the city expecting many european friends after all this is over?

[HairyArsedBloke]

Some f*ckers in the city are making a mint on all this aggro!

I'd shoot them first and then sort out the banks. During the war it was called profiteering!

Oh, hang on. I'm not in the City nor do I work for a bank and neither do my punters.

There is nowt wrong with being a speckulant when fools are involved. If some bunch of morons want to create an idiotic synthetic currency with no proper basis backed by an endless stream of taxes from those yet unborn then we would be only mugging ourselves by not taking money off them.

[scooterscot]

currency with no proper basis backed by an endless stream of taxes from those yet unborn then we would be only mugging ourselves by not taking money off them.

And this differs from pounds sterling how?

[HairyArsedBloke]

I don't see any effort to defend sterling - not that there is an effort to prop-up the value of the euro, only is existence.

[Freamon]

Domino rally anyone?

EU's Irish Rescue Fails to Stem Contagion; Spain Bonds Drop

Am I missing something here? Without killing the Euro there seem to be only two levers that the ECB/IMF/EU Governments can operate here:

1) Fecklessly throw more money at the problem, resulting in yet more dominos falling.

2) Say you're "very angry with the markets", and shake fists, etc.

The ECB still have all of their QE bullets left in their clip, unlike the Fed/BoE who have fired most of theirs already.

[TykeMerc]

I don't see any effort to defend sterling - not that there is an effort to prop-up the value of the euro, only is existence.

Wasn't the last serious effort to defend sterling made during the ERM debacle? If memory serves a few investors made a very sizable fortune from that.

[doodab]

If some bunch of morons want to create an idiotic synthetic currency with no proper basis backed by an endless stream of taxes from those yet unborn then we would be only mugging ourselves by not taking money off them.

Of course the game does change when those morons, being in a majority of approx 99.9% of the global population, decide to hang the whizzkids out to dry.

The euro is no more in imminent danger of collapse than the dollar was back when Meryll Lynch and co connived to bankrupt orange county. I think the financial sector is simply making hay while it can, and in doing so inviting further regulation, at least in the EU. "The market made me do it" is wearing thin as an excuse for causing governments and the general population difficulties, but ultimately the difficulties occur because the banks have too much power in the bigger scheme of things. I don't think there are many in positions of political power who believe that the current fun and games can be allowed to continue indefinitely, so I expect to see some clipped wings by the time this is all played out.

Whether or not this is ultimately harmful to the wider economy only time will tell.

[scooterscot]

Of course the game does change when those morons, being in a majority of approx 99.9% of the global population, decide to hang the whizzkids out to dry.

The euro is no more in imminent danger of collapse than the dollar was back when Meryll Lynch and co connived to bankrupt orange county. I think the financial sector is simply making hay while it can, and in doing so inviting further regulation, at least in the EU. "The market made me do it" is wearing thin as an excuse for causing governments and the general population difficulties, but ultimately the difficulties occur because the banks have too much power in the bigger scheme of things. I don't think there are many in positions of political power who believe that the current fun and games can be allowed to continue indefinitely, so I expect to see some clipped wings by the time this is all played out.

Whether or not this is ultimately harmful to the wider economy only time will tell.

WHS - but how do you clip wings on a global scale? And our ethics are in sort supply so we're unlikely to lead the way, ever.

[DodgyAgent]

And this differs from pounds sterling how?

Because it is our pound and we can do what we like with it. More than the poor Irish can do