It looks like you're using an Ad Blocker.

Please white-list or disable AboveTopSecret.com in your ad-blocking tool.

Thank you.

 

Some features of ATS will be disabled while you continue to use an ad-blocker.

 

Europe Meltdown, Global Slump Seen Next Year: Poll

page: 1
1

log in

join
share:

posted on Sep, 29 2011 @ 02:46 AM
link   
Source

Cited in part only:


Global investors anticipate Europe’s debt crisis leading to an economic slump, a financial meltdown and social unrest in the next yearwith 72 percent predicting a country abandoning the euro as a shared currency within five years, a Bloomberg survey found.

About three-quarters of those questioned this week said the euro-area economy will fall into recession during the next 12 months and 53 percent said turmoil will worsen in a banking sector laden with government bonds, according to the quarterly Global Poll of 1,031 investors, analysts and traders who are Bloomberg subscribers. Forty percent see the 17-nation currency bloc losing at least one member in the next year.

More than a third of participants say deteriorating European debt will derail the world economy over the next year, with the pessimism highlighting the pressure European policy makers face as they try again to fix their 18-month sovereign crisis. Stocks last week tumbled into their first bear market in two years and international finance chiefs, including U.S. Treasury Secretary Timothy F. Geithner, urged European leaders to intensify their rescue efforts.

“It’s a bad crisis,” said Jean-Yves Chereau, a poll respondent and chief investment officer at Halkin Investments LLP in London. “Since the resurgence of troubles in Greece, you suddenly have a crisis of confidence and trust and that’s impacting markets and could hurt economies. Politicians need to move ahead pretty quickly.”


More interesting news, among a daily flow of economic and financial news reports heralding a financial crisis and global recession and so on. The poll conducted by Bloomberg notes that participants expect social unrest to unfold, probably concomitant with economic deterioration, which we are already seeing, and of course will escalate as things worsen.




posted on Sep, 29 2011 @ 02:57 AM
link   
Its the begining of the end for Europe as we know it! Man what are we doing wrong these days...*giggles*

edit on 29-9-2011 by KingUsbeorn because: Giggles.



posted on Sep, 29 2011 @ 03:06 AM
link   
What I find very interesting are those that have started to predict these things will happen in the not to distant future yet I feel the actual situation in the here and now is much worse than we are being led to believe it is.

The more I see articles like this the more concerned I am about the dire situation we face now.. Osbourne (UKs Finance Minister twit) said the Eurozone had 6 weeks to fix the problems.

Putting such a timeline (6 weeks) on the issues kinda makes me feel we can cut that down to the bone and again we come into the here and now and a desperate battle to kick the can a bit further down the road.

I suspect Merkel will get approval in the Germany parliament today for bailout funds.. but I bet it is only just as they throw everything at kicking the can just a bit further..

Yet it feels no matter what they do we'll end up in the same place.. either internal issues and unrest on a global scale or (heart in mouth) a global conflict.



posted on Sep, 29 2011 @ 03:23 AM
link   
When did the thought process start that "when Europe falls so will the world"? This will not happen, Europe? The financial anchor? Last I checked the dollar was used for inter-country trade. The euro and all the banks that adopted that ideal will fall. Sorry. Don't try and compete with the dollar. Nice try tho.



posted on Sep, 29 2011 @ 04:23 AM
link   
reply to post by litterbaux
 


Well, my opinion is based on things like the EU and the US have the largest bilateral trade relationship in the world and the second largest trading partner to the EU is China while the EU is Chinas largest trading partner.

Regardless of what side of the fence people sit on the EU is Russias main trading partner, Turkeys main trading partner, it's Canadas second largest trading partner, Israels second largest trading partner, Irans largest export destination, South Koreas second largest export destination etc etc..

While I am certainly not and never will be a Europhile, I do recognise that the EU crashing will have dire consequences for all our interdependent economies.

European Trade Commission - List of Nations the EU trades with and there value:
ec.europa.eu...



posted on Sep, 29 2011 @ 04:44 AM
link   
ok,ok....can someone PLEASE tell me if europe goes pop,what does that mean for the people in the uk?
we dont use the euro currency,so we are ok yes??



posted on Sep, 29 2011 @ 05:04 AM
link   
reply to post by cantsee4looking
 


Short answer is probably not going to be good given how much we have already invested in Europe and that around 50% of our exports are to the continent, which all ties to how smart our leadership is being in protecting or exposing the UK to the crisis.

But I guess we won't really know that until it happens.



posted on Sep, 29 2011 @ 05:06 AM
link   

Originally posted by cantsee4looking
ok,ok....can someone PLEASE tell me if europe goes pop,what does that mean for the people in the uk?
we dont use the euro currency,so we are ok yes??


No... if the European economy fails, then noone will pay off their debts, meaning companies will lose due income. In turn they will still see a need to keep the profit at the same height, thus need to lay off a lot of people. That will in turn cause lower sales in general, people will stop buying luxuries and the lower sales will circle back and cause more lay offs.

While states earlier have proven that they have a hard time managing the business of printing coin, a new solution is needed to create a safe world where big corps. are prohibited from creating markets panics and profiting off them.

I imagine a system where the central banks are still selfsustaining, BUT are not allowed to carry a profit. They would have to regulate themselves accordingly to end each fiscal year with a big ringing 0.
Then governments wont have to worry about paying back interest for borrowing money from these central banks.

Death of the monetary elite is the only thing that will remotely come close to preventing this kind of situation again...

Have we not learned from previous episodes???



posted on Sep, 29 2011 @ 10:31 AM
link   

Originally posted by cantsee4looking
ok,ok....can someone PLEASE tell me if europe goes pop,what does that mean for the people in the uk?
we dont use the euro currency,so we are ok yes??


well UK is tied to the Euro through Euro bond purchases. so if the Euro falls the UK banks will be hit hard and most likely defult.

saidly your tied to the hip with the Euro.



new topics

top topics



 
1

log in

join