Euro Will Be Dead In Five Years

Euro Will Be Dead In Five Years

The single currency is in its death throes and may not survive in its current membership for a week, let alone the next five years, according to a selection of responses to the survey – the first major wide-ranging litmus test of economic opinion in the City since the election. The findings underline suspicions that the new Chancellor, George Osborne, will have to firefight a full-blown crisis in Britain's biggest trading partner in his first years in office.

Of the 25 leading City economists who took part in the Telegraph survey, 12 predicted that the euro would not survive in its current form this Parliamentary term, compared with eight who suspected it would. Five declared themselves undecided. The finding is only one of a number of remarkable conclusions, including that:

It's unravelling pretty quickly. Every day I'm reminded a bit more of a phrase I heard in Pink Floyd's Live At Pompeii:

When The Great Economic Collapse happens, it's going to happen right across the board. --Roger Waters

What we really need is for people to wake up and realise that money is nothing more than confidence....

Confidence that that bits of paper in your wallet, or the coins in your pocket are worth something.

In reality it's the hard work that you do that's worth something.

Sadly, too many people are too blinded by their slumber (or fear) to see it.

reply to post by dampnickers


Yes, paper money is just an IOU. As in you do something for me and I give you an IOU promising I'll do an equal amount of work for you. The government just hands out IOU's left and right and never thinks it has to pay back on them. Well guess what, the collections agents have come a knocking

[edit on 6-6-2010 by Mikey Sly]

Lets just wait how the Dollar/Euro rate develops. As long the rate is over 1:1 I wouldn't worry much about it. Is has been below that in the past so even that wouldn't be too drastic.

Originally posted by dampnickers
What we really need is for people to wake up and realise that money is nothing more than confidence....

Confidence that that bits of paper in your wallet, or the coins in your pocket are worth something.

In reality it's the hard work that you do that's worth something.

Sadly, too many people are too blinded by their slumber (or fear) to see it.

Not to mention, 95 cents of every dollar traded is speculative and based on no real goods or services.

You are right, but people are forced to use it, 'legal tender'...
I'm all for a Precious Metal System, Don't even see why to use paper at all. Silver coins can be made small enough to represent every so small value, well you'll have to omit prices like 0.99 too bad

oh and area6: I think 0.99 represents this percentage more accurate

reply to post by traditionaldrummer


The EURO will not die..

It will change..

Some states will enter (Denmark, Estonia etc) and some will leave (Greece, Portugal etc)..

These changes are obvious to anyone with an knowledge of the EU.

Firstly however, the mechanisms have to be put in Place by EU politicians in order for EU states to leave legally.. Which is not there currently.

Germany or France leaving the EURO is like the US giving up the dollar and going into competition against it in the world.. ie Pretty far fetched. The EURO is the FrancoGerman empire inside and outside the EU. It creates their export strengths.. Which in Germany's case is staggering.

AND FINALLY.. The telegraph is the most Anti EU, Eurosceptic, bias piece of UK conservative party arse kissing, not worth to wipe your arse with, not worthy to speculate on anything foreign or domestic in regards policy, CRAP.

People continue to link to completely speculative stories from it in regards "Europe" when in fact, generally speaking, their arguments are pretty much always outdated and nonsensical in order to push them on their City of London based reader base..

What we really need is for people to wake up and realise that money is nothing more than confidence....

The only thing is.. What difference does that make? Realizing what money is doesn't make it any less traded in the markets and controlled by those with the most of it? It doesn't buy you any more or less in the shops, allow you to barter in a supermarket or make it any easier for your politicians to bring in a new system.

People can wake up all they want but at the end of the day, there's not enough Gold or Silver in the world to cover the capital investments mankind needs for global growth.. Fiat currencies as fickle and corrupted as they are.. Are still our only means of basic wealth until the world gets a global currency that can be changed and based on something else.


***EDIT TO ADD***

Just to back up my argument about The Telegraph..

This is from the top of the article..

The single currency is in its death throes and may not survive in its current membership for a week, let alone the next five years, according to a selection of responses to the survey

A selection of responses? One? Five? Out of how many?

From who? Conservative Eurosceptic Politicians?

Can you spell S E N S A T I O N A L I S T I C N O N S E N S E?




[edit on 7/6/10 by Dermo]

I had a laugh when I seen this.

I would give it 12months tops.

Originally posted by JohnySeagull
I had a laugh when I seen this.

I would give it 12months tops.

Care to back that up?

Anything logical or intellectual will do.. lol

Originally posted by Dermo

A selection of responses? One? Five? Out of how many?

From who? Conservative Eurosceptic Politicians?

Can you spell S E N S A T I O N A L I S T I C N O N S E N S E?

According to the article this is the best info we have:

25 leading City economists who took part in the Telegraph survey

Still, these are economists we're talking about. They never agree on anything and many have the same odds of calling it correctly as that of a coin flip.

Originally posted by traditionaldrummer
Still, these are economists we're talking about. They never agree on anything and many have the same odds of calling it correctly as that of a coin flip.

Exactly.

The thing with the EURO is it will survive as long as the political will is there to support it.. That is basically it.

So as long as there is an idea of European Unity, there will be a EURO.. And to be honest, Im seeing the EUROZONE become a fiscal state in front of my eyes..

The Future of the EURO all depends on whether any country would rather give up the EURO and the idea of EUROPE instead of their fiscal sovereignty.

We can only wait and see but the collapse of the EURO and EU is not something that anyone in the world should want. It would be an uncontainable disaster the world over. Almost a third of the worlds economy crashing? lol

reply to post by Dermo


YourIrish and living in the Irish district of Berlin.

I'm living in Ireland.

There is no point in discussing this with you. If you are on here in 12months please look me up and laugh in my face that the Euro is still running. Please do this.



Thanks

reply to post by Dermo


You are probably right about Germany and France, but other smaller countries do not benenift from the Euro at all. The austrian schilling for example was way more stable than anything except the swiss franc. And there are several other examples as well...

reply to post by Dermo


Sidenote:

The France-Germany-Benelux-Italy axis of European unity is awfully reminiscent of Charlemagne's empire, don't you agree? The past is always with us!

Originally posted by JohnySeagull
There is no point in discussing this with you. If you are on here in 12months please look me up and laugh in my face that the Euro is still running. Please do this.

Lol.. There's no ACTUAL Irish district in Berlin. Ill set a reminder on my phone tho

You do too!

In all fairness though, Im only calling it realistically, from a political, economic and everything perspective.. Letting the EURO collapse is a suicide call. Every investment in EURO's, every reserve in EURO's, everything the the EUROZONE would collapse and rebound to be worth pretty much nothing.. Then a bubble would emerge around all the worlds other investable assets as always happens and that would also burst. There's a reason the G8 and FED scrambled to ensure the EURO was not going to fail. (However, letting it devalue substantially will ensure EU and Irish growth through exports)

Also, if a major EUROZONE country, lets say Germany, pulled out of the EURO, its highly likely that states like Spain, Greece, Ireland etc that are indebted to the quantity of around a trillion to Germany would default on those loans for several reasons - if even just for spite (ie France).. Therefore creating a Trillion EURO hole in German bank liquidity and cascading Globally at a dozen times the size Lehman brothers went in 2008. ie Financial apocalypse.

Im only looking at this from a logical perspective, the future of the EURO and EU policy is not set in Stone. Because the emergency liquidity mechanism is about to pass through EU financial ministries means that a EUROZONE fiscal government is about to become concrete.. Albeit small at first.. Then as a result of the Lisbon treaty, over the next couple of years, an actual EURO governance body will come about.

Either that, or complete collapse of a third of the worlds wealth.. And I would prefer that didn't happen, as do the vast majority of the worlds politicians.. And they will work to save it.. And if you are into your conspiracy theories, isn't one of the Bilderberg agenda's this year about how to stabilize the EURO? There is a massive shift in Global powerhousing and the Situation with the EU and the Dollar are growing pangs.

I do completely agree 100% however that the EURO will not be the same currency in even a week.. And definitely not a year. But collapsing instead of evolving would be basically giving up on the biggest globalists project ever undertaken and thats not likely to happen.

But we can only wait and see.

Originally posted by kybertech
but other smaller countries do not benenift from the Euro at all. The austrian schilling for example was way more stable than anything except the swiss franc. And there are several other examples as well...

There are several counters to that argument but you are correct for several states.. It did mess up a few. But any export driven state however cannot complain too much as a result of no devaluation into "exportee" nations. It mainly benefited export driven regions but it also created a reserve that had commodities valued to it which kept those at stable values for production which is invaluable. However many states taxed the sh**e out of those commodities and outpriced them ie Oil.. Not to mention the availability of cheap credit etc that ruined Greece, Portugal etc.. But that was mainly internal government faults with leftist policies, Not the EURO itself. But there are obviously other issues.

Originally posted by SmedleyBurlap
he France-Germany-Benelux-Italy axis of European unity is awfully reminiscent of Charlemagne's empire, don't you agree? The past is always with us!

I dunno man.. I hear constantly about how the EU is the new NAZI Germany combined with the Roman empire.. Don't really buy it TBH lol

Originally posted by SmedleyBurlap
reply to post by Dermo

 

Sidenote:

The France-Germany-Benelux-Italy axis of European unity is awfully reminiscent of Charlemagne's empire, don't you agree? The past is always with us!

Of course my friend....The Fourth Reich.

reply to post by Dermo


Dermo you are right about The Telegraph, it is right-wing Tory trash, but to dismiss everything it prints as 'propoganda' etc is being quite naive.
Yes, they print a lot of Tory nonsense, they also exaggerate a few things here and there and forget to mention certain other things, like ALL newspapers do, but some of what it prints is true, like all newspapers.

You are wise enough to know this.

The Euro will survive simply because Germany, France and to a lesser extent Belgium wish it do so.
Even though the brown stuff has hit the proverbial fan they will defend it and prop it up regardless, they have invested too much into it and are playing 'the long game' on this one.

One thing is certain though, the UK will never have the Euro.

reply to post by Freeborn


Well I do know its not propaganda, didn't mean to imply that at all..

Its still uber bias and even though I used to respect the opinions on it, from seeing its EU coverage and a few other things over the past year, I find it hard to take it seriously at all anymore unfortunately. Never a good thing for an open mind but Im clearly human and bias whether I want to be or not..

RE: joining the EURO..

Didn't the conservatives even take back their policy of "Never joining the EURO" to "Not joining the EURO in the foreseeable future"?

You could be backing a loser there bruv

reply to post by Dermo


Don't get me wrong, I don't believe anything it says outright, apart from the blatantly obvious, but I don't dismiss anything either.

Cameron and Clegg?
I don't believe a word either of them say....but their arrangement would fall apart if they pushed this.....there are too many Anti-Euro MP's in the Tory Party and Clegg doen't want to push it as there are far too many pro-Euromembers in the LibDems who are already unhappy with the compromises they have made for him to push it.

They will ignore it and hope that it doesn't become an issue.
They have enough on their plate at the moment and are enjoying their honeymoon period at the moment...it won't last forever!

And the EU itself has far too many things on it's plate at the moment to make a big issue of it.

I think the status quo will be ideal for all concerned for the time being.

But I honestly don't think the British people will ever accept it.

But you never know??

reply to post by Freeborn


Silly goose, there can't be a fourth reich until the first one has ended! Rome never fell, it just changed its constitution over the centuries in ways that we historically-ignorant peasants don't understand.