Who will quit the EURO first?

[Dieter]

Swiss banks bought last night Euros like the hell, don´t know why... our export go up like the hell.... Hey China have many dollar bonds ...what happends when they sell...  


I prefer a srtong dolllar 1,15 to 1,25  for a Euro.... God for my biz and no cheap crowds in LOS...


Dieter

[Road Runner]

(Dieter @ May 21 2010,21:07) Swiss banks bought last night Euros like the hell, don´t know why... our export go up like the hell.... Hey China have many dollar bonds ...what happends when they sell...

My bet is that the EU has asked everyone to help out, including Switzerland, China, USA, Tuvalu, Christmas Island..........

The BBC news on the radio was inferring it's all finished and it will fall over tomorrow.

I still think they will save it because of the political implications
- even though it's allegedly the only non-political currency in the history of the world!

RR.

[thegame925]

The Swiss Banks and Government have been heavy purchasers of Euros all year, fearful of the Swiss Franc appreciating too high and hurting their exports.

I was told the Swiss are now the largest holders of Euros, though I don't accept that to be true.

[rossco]

Albania was due to join the Euro zone - now there is a positive contribution!

I believe that the amount of vetting of a country prior to their entry into the Euro is the major weakness.
Inviting in weaker economies just dilutes the strength of the currency. Many countries joined for the short/medium term benefits and once these were exhausted reverted to their normal weaker economy.

The principles are fine - a single unit of currency with which to trade. Any currency is created just to allow a rate of barter.

I am not sure that any major country will pull out. How did Greece qualify anyhow?

[Bumpa STIKKA]

(rossco @ May 22 2010,14:59) How did Greece qualify anyhow?

How did any of them really 'qualify'?

They all bent the rules so they could get in and now they'll be bending some more so they can leave.

A fucking pathetic waste of everyone's time. A few thousand politicians and business dudes got rich and a few counties hit the shit pan.

Now THAT'S what I call 'democracy!'

[pacman]

Allowing the Euro to get out of balance with the other major currencies of the world is a bad idea.

I wrote a long post several days ago about the implications of a weak Euro for the exporters of the region. However it disappeared from my screen before I could post it...        

Amidst all the talk of currency collapse is this terrific boost for the manufacturers, sufficient in my opinion to spook China & absolutely terrify Japan.

The silver lining of the Greek debt crisis is this imbalance that will see strong revenue flows into the EU as the European exporters benefit.

This in turn will strengthen the Euro as the system again balances, one of the neat tricks of the floating exchange rate system. (Something that China exploits because they won't allow the Yuan to float.)

China may adjust the rate of the Yuan but the country who must be watching with the greatest concern is Japan. Their debt as a percentage of GDP is the highest in the world (214% last month & rising) & it will only take something like a falling Euro for their exporters to be more badly hurt than they have been.

When the inevitable happens (and it will) watch markets panic as Japan repatriates overseas investments. Japan's sell off of equities, property, US bonds, etc will trigger something far worse than the troubles of the ECB.

[pacman]

(rossco @ May 22 2010,14:59) How did Greece qualify anyhow?

A special loan instrument was dreamed up by the fellas at Goldman Sachs that allowed Greece to meet the standard for admission.

However it had a 10 year life & once it became transparent, the gig was up.

I bet Goldman Sachs hasn't lost a penny of profit from their outrageous arrangement.

[rossco]

Goldman Sachs - that paragon of financial virtue...

Goldman Sachs asked for the bale out in Jan 2009 - in March 2009 posted 1.6 BILLION USD profit.
I said at the time - that stinks and should be investigated - now it is and I have never seen a sleazier bunch of crooked 2 nd hand car salesmen in one place.

What really gets to me is this bonus scam. You bring a bank, or its investors/borrowers (god forbid the bank should lose), now even a country to its knees and then demand a bonus for fucking up. I must get that clause in my next employment contract.

As little mental exercise. If you take your salary at age 45 and multiply by 30 this will approximate to your LifeTime earnings.
If you were earning 30,000 USD or more per annum at age 45 then you will earn a million in your whole life.
If you were earning 100,000 USD or more per annum that equates to 3 million

How the heck do you justify a bonus (over and above salary) of 65 million USD.

The US citizens should be storming Wall St and demand explanations.
I thoroughly enjoyed Michael Moores latest epic - he asks the Wall St advisor -
Can you tell me where my money has gone?
Long pregnant pause
Advisor answers
'No' - give the advisor a cigar and put her on benefit in a trailer park

Un f.....believable

[kahuna]

In Europe you have the Euro...In the States we have the Yanko...

[JaiDee]

Question is; if you were a yank and had 100K Euro in an Irish bak, therefore now being worth 125K US, would you take it out and make the 25K net or wait and hope it goes back up to 145, making yourself 20K more?

The risk being, it could be even with the dollar soon with the way things are going, and you would lose {loose?} 25K. Not so far-fetched; after all, for years and years we could get 130 CDN for every 100 we spent up there, now they are dead even and have been for 3 years or so.

[seamus]

That's a hard call there JaiDee, I had (still do ) shares in Radio stations up & down the country. I was in a similar position as your good self a few years back, didn't sell & now I couldn't give the darn things away !

[JaiDee]

well, my question was kinda random.....I don't have 100K Euro in an Irish bank {wish I did!} but I do have a friend with a similar dilemma; cash out now and take the 25% gains or hope it goes back up to 43+.

Again, we northern Yanks used to have a ball in Canada because we could get 130-135 for years for our dollar....now they are even and the CDN even topped us for a while last summer, yikes!! Imagine if the Euro went BELOW the dollar??

[seamus]

(JaiDee @ May 23 2010,04:49) I don't have 100K Euro in an Irish bank {wish I did!}

 Imagine if the Euro went BELOW the dollar??

Imagine having 100k Euro in the first place

The only currency I'd be likely to have 100K in, would Indonesian rupiah

[robbo]

if you did id hang on to it as it be worth more than 100k euro or £ soon

[katoeylover]

(JaiDee @ May 23 2010,06:20) Question is;  if you were a yank and had 100K Euro in an Irish bak, therefore now being worth 125K US, would you take it out and make the 25K net or wait and hope it goes back up to 145, making yourself 20K more?

  The risk being, it could be even with the dollar soon with the way things are going, and you would lose {loose?} 25K.  Not so far-fetched; after all, for years and years we could get 130 CDN for every 100 we spent up there, now they are dead even and have been for 3 years or so.

Take the profit and put it in gold.