Eurozone debt crisis

[CaerMyrddin]

Now we will be under the gun...

[Iron]

From the way the euro is falling against the dollar this morning, it seems the market's relief about yesterday's austerity package has been short-lived...

Perhaps this is why: http://www.telegraph.co.uk/finance/fina ... mands.html

Jeff

[Euler]

If history is anything to go by, the speculators will now move onto the next target.

The problem Europe has is that the taxation and political systems are not tied in the same way as the currency, so that will always cause problems until they are all joined together. Funding can then be applied to smooth out individual problems. I am so glad we didn't formally join the Euro or we would be shackled with the same issues, at least we have some independence with regard to currency.

[Euler]

Words can't describe this video so I suggest you just watch it. But not if people near you are offended by strong language.

http://www.youtube.com/watch?v=koY6kXhQDQo

[LeTiss]

Words can't describe this video so I suggest you just watch it. But not if people near you are offended by strong language.

http://www.youtube.com/watch?v=koY6kXhQDQo

Now that's a bloke I'd vote for!!

[Iron]

He reminds me of my landlord!

I got so fed up of him shouting me down that I sent him a letter asking that all communication between us be in writing (which went down like a lead balloon!).

But because he let me sign a 1 year lease, he can't get rid of me till the end of March!

But I digress!

Jeff

Words can't describe this video so I suggest you just watch it. But not if people near you are offended by strong language.

http://www.youtube.com/watch?v=koY6kXhQDQo

Now that's a bloke I'd vote for!!

[mulberryhawk]

There is alot of anger and resentment in Ireland at the minute. On a serious note, what are the Irish going to do? a recent article would seem to suggest that the country is effectively being sold to the arabs...

http://www.telegraph.co.uk/finance/fina ... funds.html

Have the Irish been hung out to dry by their eurozone partners?

[Iron]

Looks like another Eurozone country is in difficulty:

http://www.telegraph.co.uk/finance/fina ... -risk.html

I wonder how many bailouts will take place before the ECB says 'enough is enough'...

Jeff

[CaerMyrddin]

Prospects of a political crisis are very high now here

[Iron]

Hi CaerMyrddin

Are you referring to the Portugese debt downgrade (http://www.bbc.co.uk/news/business-12755569)?

IMHO, the Eurozone is a dead man walking. Germany will only be willing and able to prop it up for so long. And commodity inflation will make the sovereign debt repayments of countries like Ireland and Greece even less affordable.

Jeff

Prospects of a political crisis are very high now here

[CaerMyrddin]

Hi Jeff, yes and no, the government claims further measures have to be taken so avoid defaulting and restoring market's confidence. But he announced them in the UE first.

The problem is that the government isn't supported by an absolute majority in the parliament. So, these measures have to be supported by the opposition too, at least partially.

But the opposition's major party isn't has announced that they aren't willing to negociate and summoned a meeting with the president to tell him that.

Curiously, yesterday there were really good news, as the first two months of the year produced a superavit of €800M.

I can't see this government in the cabinet in the summer, but if you consider my recent prediction power I would say they will stand

[Euler]

Portugal nears international bail out: -

http://www.bbc.co.uk/news/business-12828405

[hgodden]

I think I might ask for a bail out after the seeing the hole last weeks Cheltenham premium charge has left! Thanks betfair, at least you got the site working smoothly again

[CaerMyrddin]

Can't see us avoiding it now, but the common person thinks it's for good, as it should bring discipline and offset the 'boys' who get all the good jobs without a proper reason.

FYI, the image you see on the new you posted is a misconception. The recent protests had nothing to do with the austerity measures, but to a certain bitter feeling younger generations have, as they don't get contracts, even if performing a job that others perform and get a contract for it.

Also, unless I'm deeply wrong, don't look at those pictures as something like happenned in Greece, as we are a non-violent people. FYI we have the oldest stable borders in Europe (1297!!)and we haven't seen war in our land since a long time ago.

Is that making us too soft?

[Iron]

Portugal PM Jose Socrates resigns after budget rejected -

http://www.bbc.co.uk/news/world-europe-12841492

The markets are remarkably calm, considering that this may herald Portugal's departure from the Eurozone, and possibly the subsequent breakup of the Eurozone...

Jeff