'Why The Euro Must Be Defended'

[Wallace]

Kenneth Rapoza, contributor, Forbes 9/13/11
"Forget the idea of kicking Greece or Portugal out of the eurozone.
For many in the market, the euro must be defended at all costs.
p2 "National parliaments have until Sept 30 to approve the measures that were
agreed to at the July 21 euro crisis summit in Brussels. If they do not, the
European Central Bank will be forced to step in once again and buy Greek,
Portugal, Spain and Italian debt. Some politicians might even view that as the
best of all worlds because the Bank’s ability to print its own money when
necessary gives it unlimited firepower, similar to the U.S. Treasury."
http://www.forbes.com/sites/kenrapoza/2011/09/13/why-the-euro-must-be-defended/

 

[DT-waw]

as long as french and germans are willing to fund the piigs population of total ~100 mln people... fine, lets defend

 

[morganist]

Quote from DT-waw:

as long as french and germans are willing to fund the piigs population of total ~100 mln people... fine, lets defend

It will stop by 2014.

 

[syswizard]

This is why the forecasts for parity with the USD may not come true in the near term. Maybe in 3 years.

 

[ammo]

http://www.forexcrunch.com/bankers-fools/

 

[macroman]

the real question to ask is : everyone knew before joining eu that greece, italy etc that these guys are the way they are and will not change ....

why go ahead with eu merge, seeing with near 100% certainty the future which is now unfolding.

 

[ammo]

if they let any of these smaller debts default,it takes some steam out of the too big to fail argument for the larger debtors i e US,so far everyone is whispering the king has no clothes,the king is still in denial,about no clothes or about the sheep's awareness of the fact

 

[gucci]

Quote from macroman:

the real question to ask is : everyone knew before joining eu that greece, italy etc that these guys are the way they are and will not change ....

why go ahead with eu merge, seeing with near 100% certainty the future which is now unfolding.

You scored with this one... Wait for Martin to appear...

 

[Debaser82]

I keep thinking if the Euro really is so much worse then the USD or Sterling.

What parameters in the US or UK economy and society are so much better then the Eurozone's that warrants the notion of the Euro being inferior to the other two.

I just can't find them.

So yeah they can lend cheaper.... for now.

Hooray.

And yeah Greece is done but it still beats living in Detroit no....

Sure it has it's flaws but overall I think the sceptism is overdone.

 

[Wallace]

agree with you Debaser82

I think the typical fly-out-the-mouth comments are mixing eggs with bananas

there's the EU debt
there's the Greece problem
there's the possibility of other countries becoming a problem
there's the stability of the EU
and there's the currency, the Euro

I don't think all of the above are the same thing and for the Euro to cease to exist
means the EU has ceased to exist