Collapse of the Euro?

[GratefulCitizen]

Add some economic chaos to Europe.
Mix in a large muslim immigrant population.
Season with news of muslims overthrowing governments around the world.

Sound like a recipe for world war 3.

http://www.thedailybell.com/1690/End...Own-Notes.html

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Now comes Ireland. In news reports that have thus far not attracted much attention, the Irish Central Bank has been printing euros out of thin air to prop up its ailing banks. The whole of Europe will pay for this action, as the result will be increased euro-zone price inflation. We can only imagine the reactions of Germans if this continues – though apparently the Irish action is legal from the EU's standpoint so long as the ECB is "informed" in advance and approves.

<snip>

What Ireland is doing is a stopgap measure; one also apparently intended to staunch capital flight. But we have to wonder now that Ireland has set the precedent, who will be next? If the bailout fund is not expanded, or if the requirements prove continually onerous, are the Greeks and Portuguese going to begin to print euros as well? What will the Germans and other Northern EU countries think of that? Such actions undercut the EU's entire modern rationale. It smacks of desperation.

[Texas_Shooter]

Before the EU put through the Euro as the universal currency for Europe they should have look through the books of all these countries. maybe then they could have prevented all this from happening.

Plus the Germans are doing now what they could not do with Tiger and Panzer tanks 70 years ago. The Germans have the only healthy economy in Europe.

[Dusty]

Originally Posted by GratefulCitizen

Add some economic chaos to Europe.
Mix in a large muslim immigrant population.
Season with news of muslims overthrowing governments around the world.

Sound like a recipe for world war 3.

You mean WW4?

[mojaveman]

Originally Posted by scooterdude713

The Germans have the only healthy economy in Europe.

Many Germans that I spoke with while living and working there never really liked the idea of the Euro in the first place. They thought, and probably correctly, that the weaker nations in the Eurozone would bring them down. Perhaps the British and the Swiss had a little more foresight and were smart to stay out for awhile. Maybe they were just waiting and watching to see if it was really going to work.

[olhamada]

Now comes Ireland. In news reports that have thus far not attracted much attention, the Irish Central Bank has been printing euros out of thin air to prop up its ailing banks. The whole of Europe will pay for this action, as the result will be increased euro-zone price inflation.

You mean like the US Treasury is doing? $600B in the latest "Quantitative Easing" effort.

[GratefulCitizen]

Originally Posted by Dusty

You mean WW4?

Muslims rioting in the streets, beating people with sticks and throwing rocks.
Einstein was right about how WW4 would be fought.

Originally Posted by olhamada

You mean like the US Treasury is doing? $600B in the latest "Quantitative Easing" effort.

The difference is that the US federal reserve is empowered to do that and the states are not.
It is questionable whether the other Euro powers will tolerate Ireland's actions.

However, if the states get tired of the fed's actions, they have recourse.
They can coin money in silver or gold.

[JJ_BPK]

Originally Posted by mojaveman

Many Germans that I spoke with while living and working there never really liked the idea of the Euro in the first place.

They thought, and probably correctly, that the weaker nations in the Eurozone would bring them down.

Perhaps the British and the Swiss had a little more foresight and were smart to stay out for awhile. Maybe they were just waiting and watching to see if it was really going to work.

In the mid-late 80t's I often visited Europe on business. My base was Mainz Germany. I was involved in business modeling manufacturing and financial systems for large corporations.

I spend many evenings in the homes of mid & upper level management families. Every one of them expressed worries about the Fall of the B-Wall and the impact on their political system & finances.

The statements were similar to yours. The weaker East G dragging down very strong West G. I think they were proven to be correct, but because of it being THEIR country, they persevere and made it happen.

I do not see the EU hive doing the same...

We need to consider a key factor as first and foremost: European union does not exist but on paper.
For you guys it's quiet different since you envisioned, sought, fought for and created a body made up of different states which later became the United States of A.
Now, for us in Europe that's a whole different story. EU has been imposed from above by politicians on citizens , as a result of political negotiations, allegedly to create a stable political and financial entity which would have been beneficial for all. Just to give you a an example of how it was imposed, in Italy we had to pay a "tax for europe". It explains with the will of our government at that time to be part of the first batch of countries inaugurating the new political body. In order to do so a country had to meet certain financial criteria based on growth and debt/GDP ratio. So the government put its hand in our pockets by means of a mandatory contribution. So mandatory that they just set the pro capite amount and took the money directly from people's bank accounts!!! Gents, I'm not kidding or making this up. They said it would be a temporary loan to be reimbursed within two or three years but nobody's seen the money back. So, the real purpose to the EU was to counterbalance US's hegemony over financial markets and political scene. But unfortunately the reality of the matter's slightly different.
Long story short: all EU countries have a different socio-political, economic and cultural background. The so long invoked "Union" part of the European Union is yet to come to reality. We in the EU, please note that I'm Italian and I live and work in Italy, have not chosen to make it happen. It was all politics. And for that measure, we're anything but united. We all have our own agendas and priorities and all the EU does is provide more politicians to feed, along with all the outrageous benefits they enjoy; taxes, because all member states have to allocate resources to fund the EU. Legal and regulatory nonsense, agendas, quotas, fines, investigations and so on and so forth.
Needless to say that in order to create EU the makers overlooked different economies, development rates and financial balances. I have to be honest, Italy's definitely not one of the leading economies. Not at all.
Sooo, my boring rant should give an example of the differences standing between the US and the EU. And also it should be an indicator of how we will never fully back each other up if we can avoid it.
Sorry for the long post.

[Shark Bait]

The Euro is stronger than the dollar, at least for now.