My fault I used "euro" in the title. I meant eurozone or european. Capital controls are an act of desperation and none of these half measures plug the dam. Spain will be back in 2 months, and Italian bonds are over 6%. Spain could see capital controls by the end of the year.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Euro Panic around the Corner....
- Thread starter achilles28
- Start date
The original post looks like an advertisement
Not sure what that means
I think nothing will happen at all, in a sense that there will be a pat again and parties start talking. Greeks are way too smart to give Northern Europe (aka Germany) a reason to stop the money showers. Most Greeks want to stay in the Euro (translation: They want all the subsidies and freebies) and I expect they will form some sort of coalition and beg everyone to make a few concessions to the bailout terms, which Germany, France, and Co will of course give into (in moderation) so everyone looks good and nobody loses face. Then we will have 2-3 months of relative calm during which time European politicians will of course do NOTHING WHATSOEVER, and then we will see the next stress again in Spain and expanding to Italy as well. Thats how I see how it will play out.
Quote from achilles28:
The next article is so important I'll quote it (and highlight relevant sections), in it's entirety. A brief summary: the Drachma could be revalued at 30% of the Euro. From the article, Greece imports 40% of its food, nearly all energy products, drugs, and although the article doesn't mention it, likely all of it's consumables (electronics, auto's, computers, appliances, clothing etc). What does that mean? Energy prices will TRIPLE. Drug and medication prices - not subsidized by the Government (and the Government has stopped paying pharmacies under the national drug plan) will TRIPLE. Cars, computers, clothing etc will TRIPLE. Food staples will appreciate over 80%. Perhaps double. This is why the EU is preparing to LOCKDOWN Greece. Naturally, Grecians will want to GFTO, but they won't be allowed.... Bear in mind, the Greek economy has already contracted 20%. Now, with unemployment currently at 22%, they face a 70 PERCENT DEVALUATION of their currency... This is Argentina, folks. Total societal breakdown ahead
Quote from amazingIndustry:
I think nothing will happen at all, in a sense that there will be a pat again and parties start talking. Greeks are way too smart to give Northern Europe (aka Germany) a reason to stop the money showers. Most Greeks want to stay in the Euro (translation: They want all the subsidies and freebies) and I expect they will form some sort of coalition and beg everyone to make a few concessions to the bailout terms, which Germany, France, and Co will of course give into (in moderation) so everyone looks good and nobody loses face. Then we will have 2-3 months of relative calm during which time European politicians will of course do NOTHING WHATSOEVER, and then we will see the next stress again in Spain and expanding to Italy as well. Thats how I see how it will play out.
Yes they will put a happy face on this so they can all go to the beach in August. In Spain and Greece as well as the Riviera. I mean, of course.
They may be foolish, but they're not crazy.
Quote from Froglet:
What is money?
I forget where I read it, some place did an experiment and tried to introduce the concept of money with tokens to monkeys. The monkeys started catching on quickly because they started exchanging the tokens for bananas and sexual favors. haha\
What is money? Seashells by the seashore? Lets ask our friends in Zimbabwe or Argentina what money is
"Not long after, the first prostitute monkey appeared"
http://www.zmescience.com/research/...g-after-the-first-prostitute-monkey-appeared/
Desperate Greeks Withdraw Money from Accounts
Many Greeks are emptying their bank accounts out of fear that the country may return to the drachma. But most of the money is not going abroad. Instead, individuals are storing cash in safe deposit boxes or at home -- leading to an increase in burglaries....
http://www.spiegel.de/international/europe/greeks-emptying-bank-accounts-a-839160.html
Many Greeks are emptying their bank accounts out of fear that the country may return to the drachma. But most of the money is not going abroad. Instead, individuals are storing cash in safe deposit boxes or at home -- leading to an increase in burglaries....
http://www.spiegel.de/international/europe/greeks-emptying-bank-accounts-a-839160.html