Turn on thread page Beta

Euro- is it very close to collapse watch

    • Thread Starter
    Offline

    2
    ReputationRep:
    Spanish unemployment hits 27% the other day

    Last week there were very bad figures for economic data in Germany

    Just announced French unemployment is at a record high of 11.5%!! (up 1.2% in one month)
    http://www.bbc.co.uk/news/business-22301063

    Considering France and Germany are the biggest economies and bail out all the rest is trouble in France a sign of collapse of the Euro in a couple of months
    Offline

    3
    ReputationRep:
    (Original post by Ace123)
    Spanish unemployment hits 27% the other day

    Last week there were very bad figures for economic data in Germany

    Just announced French unemployment is at a record high of 11.5%!! (up 1.2% in one month)
    http://www.bbc.co.uk/news/business-22301063

    Considering France and Germany are the biggest economies and bail out all the rest is trouble in France a sign of collapse of the Euro in a couple of months

    Merkels in fir a struggle. Theres a German version of UKIP just been stood up as the German taxpayer is getting annoyed about propping the euro up, a currency that they were never asked about in the first place. Holland is in deep trouble with a house bubble burst resulting in 20% reduction in house prices. German banks have discreetly been offloading their euro liabilities.
    Offline

    0
    ReputationRep:
    (Original post by Ace123)
    Spanish unemployment hits 27% the other day

    Last week there were very bad figures for economic data in Germany

    Just announced French unemployment is at a record high of 11.5%!! (up 1.2% in one month)
    http://www.bbc.co.uk/news/business-22301063

    Considering France and Germany are the biggest economies and bail out all the rest is trouble in France a sign of collapse of the Euro in a couple of months
    It will collapse, the only think holding the Euro in place is the economies of France and Germany.
    The Euro was a bad idea to start with, I have this dodgy feeling that Germany wanted the Euro so they could effectively control the european economy.
    • Political Ambassador
    Offline

    18
    ReputationRep:
    Political Ambassador
    Would't be too happy about it collapsing if it does. Christ knows what effect it will have on our economy but I doubt it'll be good
    Offline

    17
    ReputationRep:
    Damn well hope not, how long is this 'crisis' going to go on?
    Offline

    3
    ReputationRep:
    (Original post by Aj12)
    Would't be too happy about it collapsing if it does. Christ knows what effect it will have on our economy but I doubt it'll be good
    Speaking to a friend of mine who works in investment. The general viewpoint is that nobody knows, or cares if it collapses or stays together. The biggest killer to the economy at the moment is the uncertainty. Uncertainty is bad for business, and bad for the economy.

    Consider the Euro as a house thats been hit by an earthquake.

    If it structurally unsound you knock it down and rebuild it.
    If it's structurly sound you move back into it.

    We're in a position of sitting on the pavement outside waiting for the structural engineers to come along, who are busy as they have a load more houses to inspect, waiting for a decision to be made. You can't move on with your life and your homeless until a decision gets made one way or another.
    Offline

    3
    ReputationRep:
    (Original post by advice_guru)
    It will collapse, the only think holding the Euro in place is the economies of France and Germany.
    The Euro was a bad idea to start with, I have this dodgy feeling that Germany wanted the Euro so they could effectively control the european economy.
    It's a tricky one. The Euro dream was set up post WW2. Theaim of it was to shackle Germany and France together so they couldn't start their 4th war in Europe that destroyed the continent. (Franco Prussian War, WW1, WW2)

    Infact, it was even Churchill that coined the phrase of teh United States of Europe. With the UK on the outside, monitoring it hoping that we didn't have to spill another generations blood in Belgium needlessly again.

    Germany however has continued with it's DutscheWerkBund Philiosophy which is allowing it to continue to be an economic power house.
    http://en.wikipedia.org/wiki/Deutscher_Werkbund

    France, like us sat back and got lazy.

    Whoever pays the credit card bill has the power.

    I'm not anti German. I admire them, as they admire us. Our little hiccups in the past have been avoidable, and not planned.
    Offline

    0
    ReputationRep:
    (Original post by MatureStudent36)
    It's a tricky one. The Euro dream was set up post WW2. Theaim of it was to shackle Germany and France together so they couldn't start their 4th war in Europe that destroyed the continent. (Franco Prussian War, WW1, WW2)

    Infact, it was even Churchill that coined the phrase of teh United States of Europe. With the UK on the outside, monitoring it hoping that we didn't have to spill another generations blood in Belgium needlessly again.

    Germany however has continued with it's DutscheWerkBund Philiosophy which is allowing it to continue to be an economic power house.
    http://en.wikipedia.org/wiki/Deutscher_Werkbund

    France, like us sat back and got lazy.

    Whoever pays the credit card bill has the power.

    I'm not anti German. I admire them, as they admire us. Our little hiccups in the past have been avoidable, and not planned.

    The thing is the Germans are very smart people. They are the backbone of the United States remember.

    Germany will continue to push its weight around Europe, everything in Europe has to be in the interest of the Germans with the French getting their dusting of crumbs. I would love to see how long this relationship between France and Germany lasts.

    The Eastern European countries have very little input in the Euro, they are essentially along for the ride. It's Germany who pulls the strings in the Euro with France getting a little piece here and there. Germany wants the UK in the Euro so they can fiddle with them as well.
    Offline

    19
    ReputationRep:
    Hasn't it been close to collapse for about 3 years now?! Doubt the Germans will let it happen.
    Offline

    2
    ReputationRep:
    (Original post by MatureStudent36)
    Merkels in fir a struggle..
    No she isn't, she has popularity levels on par with Churchill, her party is getting ratings in polls that haven't been seen in German Politics in around 15 years.

    Odds are come September we will have a scenario where the only solution is another Grand Coalition, and Merkels party will have more seats than the SDP.

    The only other combination would be a CDU/CSU and Green coalition, and although they have a lot of things in common such a thing would be highly unlikely.
    Offline

    20
    ReputationRep:
    (Original post by MatureStudent36)
    Speaking to a friend of mine who works in investment. The general viewpoint is that nobody knows, or cares if it collapses or stays together. The biggest killer to the economy at the moment is the uncertainty. Uncertainty is bad for business, and bad for the economy.

    Consider the Euro as a house thats been hit by an earthquake.

    If it structurally unsound you knock it down and rebuild it.
    If it's structurly sound you move back into it.

    We're in a position of sitting on the pavement outside waiting for the structural engineers to come along, who are busy as they have a load more houses to inspect, waiting for a decision to be made. You can't move on with your life and your homeless until a decision gets made one way or another.
    I can see why "nobody knows" but why would nobody care?
    Offline

    0
    ReputationRep:
    (Original post by meenu89)
    Hasn't it been close to collapse for about 3 years now?! Doubt Brussels will let it happen.
    Brussels doesn't control the Euro.....the Germans do.
    Offline

    20
    ReputationRep:
    (Original post by advice_guru)
    The thing is the Germans are very smart people. They are the backbone of the United States remember.

    Germany will continue to push its weight around Europe, everything in Europe has to be in the interest of the Germans with the French getting their dusting of crumbs. I would love to see how long this relationship between France and Germany lasts.

    The Eastern European countries have very little input in the Euro, they are essentially along for the ride. It's Germany who pulls the strings in the Euro with France getting a little piece here and there. Germany wants the UK in the Euro so they can fiddle with them as well.
    Germany has effectively been forced to take control. It's the Germans who have bailed millions out, and it's only fair that if you bail the most out, you get the control.

    The Greek press have been absolutely horrible to the Germans, calling Germany the fourth reich etc..

    It's not Germany's fault. It's the fault of stupid little politicians spending beyond their means for many decades, and then owing Germany millions of euros

    Germany themselves only recently JUST finished paying it's reparations to the UK for losing WW1 (I say just, but it was one or two years ago)

    EDIT: Reading this makes me quite angry at Greek press

    http://online.wsj.com/article/SB1000...332166430.html

    Why accept money for infrastructure? They want more and more money from the Germans
    Offline

    18
    ReputationRep:
    (Original post by advice_guru)
    The Euro was a bad idea to start with, I have this dodgy feeling that Germany wanted the Euro so they could effectively control the european economy.
    (Original post by advice_guru)
    Germany will continue to push its weight around Europe, everything in Europe has to be in the interest of the Germans with the French getting their dusting of crumbs. I would love to see how long this relationship between France and Germany lasts. [...] Germany wants the UK in the Euro so they can fiddle with them as well.
    Why, yes, of cause we Germans are the bad boys again, trying to take over Europe and ****.

    Totally forget that German taxpayers are pumping hundreds of billions of Euro into countries which were just too stupid to manage their own economies, fostering a mentality of tax evasion (no, not only for the big 'evil' guys, in countries such as Greece it's basically been everyone) or even forged data to join the Euro.

    Germany has one of the highest tax levels in Europe, in contrast to the UK and US there has been no housing bubble and Germany has just been affected by the crisis because of links in the financial world and its export-oriented economy, even though in Germany mortgages are currently cheaper than ever hardly anyone wants them and there is no bubble at the horizon.

    But yes, instead of thinking about how to avoid own mistakes in the future, creating conspiracy theories about the country which has been managed reasonably well in the past and is now bailing everyone else out is a much easier way to deal with it. :facepalm:

    And the blame game goes on ...
    Offline

    3
    ReputationRep:
    (Original post by de_monies)
    I can see why "nobody knows" but why would nobody care?
    It's a bit difficult to care about something you have no control over. The word you're looking for is worry.

    Investors are pragmatists. They just react to the environment around them that they can't control.

    I don't care about unemployement. I worry about it. I care about my employement prospects however, and those of my immediate family and friends as I can influence them by making sure my CV looks good, the covver letter is good and I've prepped for an interview.. Not the general population.
    Offline

    0
    ReputationRep:
    (Original post by de_monies)
    Germany has effectively been forced to take control. It's the Germans who have bailed millions out, and it's only fair that if you bail the most out, you get the control.

    The Greek press have been absolutely horrible to the Germans, calling Germany the fourth reich etc..

    It's not Germany's fault. It's the fault of stupid little politicians spending beyond their means for many decades, and then owing Germany millions of euros

    Germany themselves only recently JUST finished paying it's reparations to the UK for losing WW2

    We all know what happened the last time the Germans wanted to have control.

    I just don't like them pushing their weight in Europe. It seems they are forcing what they want in Europe to the weaker nations, who can't say anything without the risk of being kicked out of the EU.
    Offline

    18
    ReputationRep:
    (Original post by de_monies)
    Germany has effectively been forced to take control. It's the Germans who have bailed millions out, and it's only fair that if you bail the most out, you get the control.

    The Greek press have been absolutely horrible to the Germans, calling Germany the fourth reich etc..

    It's not Germany's fault. It's the fault of stupid little politicians spending beyond their means for many decades, and then owing Germany millions of euros

    Germany themselves only recently JUST finished paying it's reparations to the UK for losing WW2
    This. We've been so close to getting towards a balanced budget, then because of other countries spending beyond their means we had to bail them out. Even with the crisis Germany is heading towards a balanced govt. budget in 2015.

    Any other European nation on the same way?

    Edit: The BBC has a nice comparison of European nations' budget from 1999 to 2012 - there's one nation which currently has a balanced budget - guess which one.
    Offline

    0
    ReputationRep:
    (Original post by MatureStudent36)
    Merkels in fir a struggle. Theres a German version of UKIP just been stood up as the German taxpayer is getting annoyed about propping the euro up, a currency that they were never asked about in the first place. Holland is in deep trouble with a house bubble burst resulting in 20% reduction in house prices. German banks have discreetly been offloading their euro liabilities.
    Tbh though, that party is made of the (intellectual and some extent industrial) elite. I wouldn't really call it "taxpayers reaction" or the like.

    What is true is that Germans are pissed off not so much at the fact we pay for everyone else, but how we are treated. Merkel in Nazi uniform is a joke. We are bailing Greece and Cyprus out, and that's the gratitude?

    My personal attitude - **** you southern Europe. See how you get along without our money. Take Ireland, they benefitted from the Euro then had a crash too, but they took in cuts like a man, not some pussies from the south who want money but cry when they have to do something in return. Berlusconi actually said he expects Germany to pay and Italy to do nothing. It's a joke.

    The fact is, in terms of wealth the average Cypriot or even Greek is like 5 times as rich as the average German who pays his taxes. No one pays taxes down there, what did you expect us to do "here have our money, but fine keep on not paying taxes".

    We're bailing them out even though the average citizen there is much, much richer.
    Offline

    3
    ReputationRep:
    (Original post by Sir Fox)
    Why, yes, of cause we Germans are the bad boys again, trying to take over Europe and ****.

    Totally forget that German taxpayers are pumping hundreds of billions of Euro into countries which were just too stupid to manage their own economies, fostering a mentality of tax evasion (no, not only for the big 'evil' guys, in countries such as Greece it's basically been everyone) or even forged data to join the Euro.

    Germany has one of the highest tax levels in Europe, in contrast to the UK and US there has been no housing bubble and Germany has just been affected by the crisis because of links in the financial world and its export-oriented economy, even though in Germany mortgages are currently cheaper than ever hardly anyone wants them and there is no bubble at the horizon.

    But yes, instead of thinking about how to avoid own mistakes in the future, creating conspiracy theories about the country which has been managed reasonably well in the past and is now bailing everyone else out is a much easier way to deal with it. :facepalm:

    And the blame game goes on ...
    I'm going to agree with you fully on this one. The Germans ARE NOT THE BAD GUYS IN THIS. They're footing the bill for feckless spending in under performing economies.

    But I do think that the Euro was a very, very, very bad idea that only really benefitted MNC's as they saved money on having to deal in multiple currencies andminimised the risk of currency fluctuations with trade.

    From a German's perspective are you pro, or ant Euro? As to me it seems like this was forced on teh German people without a referendum.
    Offline

    20
    ReputationRep:
    (Original post by advice_guru)
    We all know what happened the last time the Germans wanted to have control.

    I just don't like them pushing their weight in Europe. It seems they are forcing what they want in Europe to the weaker nations, who can't say anything without the risk of being kicked out of the EU.
    Well, they're not. The only way they are "pushing their weight" is by investing in infrastructure in countries. Greece is seeking war reparations from Germany now as well:
    http://online.wsj.com/article/SB1000...332166430.html

    When Germany has invested millions in to it's infrastructure. That's war reparations paid as far as Im concerned. If any thing, by Germany investing in Greek infrastructure, and not just giving Greece a pay check (Which they also do), Greece is in a better condition than if they used that money themselves
 
 
 
Poll
How are you feeling in the run-up to Results Day 2018?
Useful resources

Groups associated with this forum:

View associated groups

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Write a reply...
Reply
Hide
Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.