UK is exiting the EURO - has the penny dropped yet?

Ok, this is my thoughts over George Osbourne's announcement today of the UK's contingency plan for a Euro currency collapse.

Just to fill those who aren't aware yet, the UK announced today that in the event of a Euro collapse they would close the UK's borders to all Europeans, A lot of Euro money is deposited within the UK's banking infrastructure, to protect the UK from the collapse( breathing space more like) Europeans will not be able to make withdrawals. In other words, if the UK executes this plan, it's no longer their money and now ours.

The juicy bit - the UK's contingency plan violates EU law and EU constitution, Europeans can freely travel the to UK, open bank accounts, deposit money, withdraw money, buy investments etc..., saying they will close the borders means = immediate pull out of the EU when they execute this contingency plan, in the words of Jimmy Cricket " there's more, come closer!" , The UK publicly announced this, the EU now know what our game is, Europeans are about to start traveling to the UK for the purpose of money withdrawal, if money starts to disappear, the UK will execute the contingency plan, with immediate, un-warned affect. This will cause mass outrage within the EU, The UK will most likely be thrown out, or we will announce on executing the contingency plan, our EU exit.


If European investments stay in our banks, my bet is we will pull out as the UK has clearly but indirectly announced by around 8 weeks from parity call. But if Europeans start making withdrawals from today, we'll be out of the EU before the end of January. I'm amazed the political analyst's and financial analyst's have not come to this conclusion yet!

UK , start proudly waving your flags!

it reads identical to the US contingency plan ... dollar to be devalued to nothing. FEMA handles borders..

reply to post by Skydancer


Cameron wouldn't sign up to European treaty coming down the pipeline. Because the new regulations and laws been proposed by Europe and that treaty would've hurt the bankers,financers and gamblers of London. Cameron wasn't standing up to Europe here, his protecting the interests of the guys who caused the global crisis!!!!! Its a scam and sham on Cameron for doing this.

reply to post by Skydancer


yes, i was up to the early hours reading through, the US contingency papers, worrying, more worrying than the UK plans, but having said that, it's all planned and they will use the schedule of the Olympics for executing the directives.

reply to post by P12SOLD


We are divided on views here, i take it your european? There's trading and then there's gambling, there's a difference, the UK is trading, the EU is gambling right now.

reply to post by P12SOLD


What he said, we should be out of it!.

The sooner this happens the better I say.

Yeah, people do understand Britain will be effectively in a state of marshal law if this happens right?

For anyone who cannot foresee the consequences to doing something as irrationaly stupid as this, it would be

A BAD THING.

I heard about this a few days ago, so it it isnt exactly new news. Switzerland did the same thing recently. In fact you will find that most of the Euro countrys will do the exact same thing. This will not unfortunately mean that the UK is expelled from the EU, so the title of this thread is very misleading.

reply to post by technologicalsingularity


I don't foresee us announcing an exit from EU. We have massive ties to Europe, and we rely on a whole lot of business through the EU. We'd be shooting ourselves in the foot by doing this.

Personally I think we'll see all trading on hold, with London and NY freezing. But I don't think that will hold off a wider collapse as hundreds of thousands move their money the moment they can.

It's interesting to think of what they have planned. It seems to me they'd need to have a complete lock down, stopping everything and rolling out protections all over the country. Banks all over Europe would fail, they would affect the UK and the USA.

Also interesting that we did pretty much the same thing to Iceland after the collapse of Landsbani. We enacted anti-terror laws to hold all their money in London. I would imagine they would do the same to every Euro nation. And if that is the case, I wonder what those countries will be doing in January to protect themselves from this?

Originally posted by Wotan
Switzerland did the same thing recently. In fact you will find that most of the Euro countrys will do the exact same thing.

I'm not sure that any other nation has actually enacted anti-terror laws to hold another nations money. That's why I think a lot of European nations will look at this and start wondering whether they should have money in London at all.

reply to post by detachedindividual


To be honest its never going to happen, millions of people will loose there jobs, its a nonesense plain and simple. Just idiotic Jingoism. If UK were to close its borders its pretty much total social and economic collapse for our nation.

London is the financial capitol of the world, if London is not open for business, LOL. Cant happen im affraid.

More manipulation,the UK has 950% GDP yet the pound is significantly higher than other currencies including my own.How can this be justified??? It defies logic!
Only takes rumors such as this for traders to rally to the pound to artificially prop it up again.These kind of stories wether true or false are happening all the time,and investors jump from one currency or market to another.While the insiders skim off the top.If there is any merit to the story it's self is of no concern to those who see this as a game.

Originally posted by Ixtab
To be honest its never going to happen, millions of people will loose there jobs, its a nonesense plain and simple. Just idiotic Jingoism. If UK were to close its borders its pretty much total social and economic collapse for our nation.

We've already experienced social collapse in the UK because our borders are open.

Get out of Europe. Shut up shop. Deal with the consequences. Rebuild the nation.

Kick out the poodles. Wake up the Bulldogs.

reply to post by FOXMULDER147


We are experiencing social collapse on account of sentiments such as this. Britains borders have always been open, if you for whatever reason missed this bit in school, Britain was the largest empire to have ever existed.

Now, I imagine your geography isnt the greatest, but if you click the little button that looks like a house this will bring you to the page with the colours, you like colours yes?, well, use the buttons in front of you and type

BRITISH EMPIRE

There you will find all sorts of wonderful pictures in colour for you to enjoy. This may help you understand the sheer diversity [ this means something has a lot of different things] of Britain.

Now being that the case and that Britain has always for hundreds of years had massive ethnic diversity on account of Africa, the West Indies, India [ remember the color pictures??] being part of our Empire, you are somehow suggesting people of a different national origin are the ones causing all the problems?, just all of sudden are they?, never been much of a problem in any of the hundreds of years before, but just quite recently its really just become apparent the blame lies squarely with them, not the banks no, but the immigrants. Is that it?

AAAAAHAHAHAHAHAHAHAHAHAHAHA

You should have a spent more time in school mate.

Kick out the poodles. Wake up the Bulldogs.

Or time doing stand up LOL AHAAAAHAAHHAHAHAHAHA

True comedy.

reply to post by FOXMULDER147


You hit the right note there with "rebuild the nation - build new trade ties" , to other commenter's, to say that this would be economic suicide for the UK (A rocky road to an independent economic revolution) maybe, clearly dont fully understand economics. Here's a clue, Norway, Switzerland, Russia. All trade with Europe, closely. But are not in Europe, unless your talking eurovision!

reply to post by Ixtab


The British empire is not the largest in the world or in history, before you hit the sarcasm button, pay attention in class!

The Assyrian Empire was the largest in history, their power and territory was left undefeated repeatedly, was ten fold more powerful than the Roman empire and of course the British empire, if the British empire came under worldwide military threat from all it's territories, the British empire would not have had the manpower to ward off loosing territory, in fact we surrendered it.

reply to post by technologicalsingularity


Nah mate, is pretty much yourself that doesnt understand Economics.

The EU is easily our largest Import/Export partner.

Oh yeah and your wrong about the Empire also, sorry.


Infact, lol what? are you totaly high?

The Assyrian empire?, did i get that right?? AAAAAHAHAHAHA An Iron age Empire that covered what?, Iran, bits of Iraq and Egypt???? LOL

The British Empire covered nearly 40 million square miles at the height of its empire.

Originally posted by technologicalsingularity
The British empire is not the largest in the world or in history, before you hit the sarcasm button, pay attention in class!

The Assyrian Empire was the largest in history,

By area and population the British had the biggest empire. Perhaps you should state more clearly the criteria you are applying which leads you to believe the Assyrian empire was infact larger.

To OP. I very much doubt the UK has plans to close the borders. Very interested in any real sources. I expect there would be plans to prevent or limit the transfer of money into Sterling.

regards

reply to post by Ixtab


LOL i'm a trader, so i do understand economics, but thanks anyway. High? umm, sorry i don't do or need drugs to fulfill my life. In terms of empire i was stating military might and length of time the empire was held before it collapsed, not by square miles hehe. Anyway this thread is not a history thread, but a discussion based on real news and it's potential implications if the directive is executed.

Quit with the flaming, your exposing your age and level of maturity by the way you comment.