Deckard

http://www.bloomberg.com/apps/news?pid=206...&refer=home More to come, this is just the beginning for the Eurozone. EU Sees Euro Area in Deepest Slump in 10-Year History http://www.bloomberg.com/apps/news?pid=206...&refer=home

This is simply not true. I rest my case.

Complete BS, shows how little you know about the FX market. Players do not need to "get the funds" as they are buying one ccy vs another one. The reason why £/euro is stable is that the Eurozone has very little to cheer about: EU Sees Euro Area in Deepest Slump in 10-Year History http://www.bloomberg.com/apps/news?pid=206...&refer=home

Also, gordo's announcement is tomorrow: http://www.bloomberg.com/apps/news?pid=206...&refer=home

Yet more details out on Gloomberg: http://www.bloomberg.com/apps/news?pid=206...&refer=home

homo homini lupus

Sounds like we are going to learn the details tomorrow: http://www.bloomberg.com/apps/news?pid=206...&refer=home

+1 Beware of hedge funds talking their book...

great analogy. Fully agree, the Euro is still vastly overvalued - but not for long. The Eurozone SHTF clock is ticking...

Eric, this is old news: we discussed it at length here: http://www.housepricecrash.co.uk/forum/ind...howtopic=100755 Do it again and we'll start calling you Slowhand

Whereabouts are you?

five stars

http://www.bloomberg.com/apps/news?pid=206...c4&refer=uk Well, we certainly saw this coming on HPC... IMO this is NOT going to save the Irish economy, they are in dire straits and moves like this aren't going to reassure the market, not even in the short term.

Anglo Irish -30% yesterday -12% today A run in the making?

0.5 cut is not enough, more cuts will inevitably follow. ECB behind the curve, as usual.

1) No, it is not a good thing. By labour market rigidity I mean companies' inability to fire people easily in a downturn. If companies cannot reduce labour costs, they are forced to reduce capex. 2) At the end of the day, the Eurozone has finite resources. Whichever way you look at it, at the moment Germany is subsidizing weaker economies in the EZ (i.e. the PIIGS countries) and will have to do so for as long as this recession lasts.

Two points: 1) the german labour market is a lot more rigid than in the UK, and this will prove a real business killer in a downturn. 2) the UK doesn't have to worry about sharing their currency and monetary policy with the PIIGS countries. How long before Ireland defaults on its debt and deposits guarantee? What will that do to the Euro?

+1 Germany is fukked, and the sooner they acknowledge it, the better.

I love this bit:

Exactly my point dude, sounds like you didn't get the irony... plus Ireland is stuck with an unrealistically strong ccy, which hugely damages exports to the UK.

Brace yourself for the next AEP piece: GERMANY GETTING READY TO DUMP THE EURO!!!!

What, to Ireland only? And how would they justify that? a treaty is a treaty, after all - can't be overruled at will, not even by the ECB...

and how exactly would the ECB do that?

http://www.irishtimes.com/newspaper/financ...1738220759.html Ouch! This must be the most bearish forecast I've seen on ANY housing market... Just as well the Irish economy is sheltered by being part of the Euro, right?