Saturday, August 6, 2011

A weekend of Doom

Rudderless eurozone on course for disaster

The eurozone is at “serious risk” of collapse and is lacking in political leadership as the debt crisis threatens to plunge Europe and the global economy into a recession. Oh Dear.

Posted by doomdog @ 09:38 AM (1572 views)
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4 thoughts on “A weekend of Doom

  • Rental John says:

    …David Cameron, the Prime Minister, is on holiday in Tuscany while George Osborne, the Chancellor, is in Los Angeles and Nick Clegg, the Deputy Prime Minister, is in Spain…..
    While to situation spirals out of any kind of control…most European politicians are on their ‘extended’ holidays. The train wreck contiues but now without any driver…..!

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  • The comments make an interesting read – no-one is seriously arguing that the eurozone can survive..

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  • It’s been said before, but……Gibbon’s Decline & fall of the Roman Empire identified a decaying culture…like:

    1.Concern with displaying affluence instead of building wealth.
    2.Obsession with sex and perversions of sex.
    3.Art becomes freakish and sensationalistic instead of creative and original.
    4.Widening disparity between very rich and very poor.
    5.Increased demand to live off the state.

    So, cut VAT on imported junk, more Celebrity Dancing on Ice in the Jungle and another round of QE.Jjust so the bankers can change up to the latest “aspirational” car, more unelected overpaid bureaucrats.. Any other ideas?

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  • Survival of the Eurozone. Hmm in fact i think it will survive but it really depends on your definition of survival. I cant see total capitulation, but i can see a break up with the weaker countries being allowed / forced to withdraw. Is that what you mean Uncle Tom?

    Granted what constitutes a weak country is open to debate. I have always said that the Euro is a flawed idea, and thank god that events (and the fact that Gordy is no longer running things) meant that we stayed out of it. If you have one thing that we should be thanking the Tories for its that.

    Of greater interest to me is what happens when the bailouts stop and the Eurozone contracts… Will the Euro appreciate against Sterling and breach par? Eventually yes i think it will. Here i have to declare an interest i have a reasonable sized holding of Euros (more Swiss though).

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