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TextJust ten days left to save euro from collapse, warns senior EU official Read more: www.dailymail.co.uk...[/ ex]
TextBritain has been sucked into a second credit crunch that threatens the stability of the world’s banking system, Downing Street warned last night. Central banks from around the world – including the Bank of England and China’s equivalent – yesterday launched a dramatic rescue bid worth hundreds of billions of dollars. It was agreed to head off a repeat of the 2008 crash when banks simply stopped lending to each other, bringing the world economy to a halt. Read more: www.dailymail.co.uk...[/ ex]link(www.dailymail.co.uk...)
The euro came into existence on 1 January 1999, although it has been a goal of the European Union (EU) and its predecessors since the 1960s. After tough negotiations, particularly due to opposition from the United Kingdom, the Maastricht Treaty entered into force in 1993 with the goal of creating economic and monetary union by 1999 for all EU states except the UK and Denmark (even though Denmark has a fixed exchange rate policy with the euro).link(en.wikipedia.org...
Some anniversary for the Euro! The question is why this didn't happen earlier and in human cost how big will be?
Kai Ryssdal: So let's say the bond markets really get fed up? Push comes to shove, and the eurozone breaks up -- calls it quits. Whaddya suppose that would look like?
Something like a real life divorce, it turns out: Messy for the spouses, and the damage wouldn't stop there. Marketplace's Sarah Gardner reports.
Yes but maybe someone intelligent will not look in to the beast eyes!
Originally posted by triune
Who will win and who will lose ?
Well, Germany will win. It has Europe exactly where its always wanted it. On its knees begging Germany to save it. Germany is refusing to allow the ECB to bail out the defaulters. Why ? Because Germany needs leverage for the next move being a political union. Germany will now force a political union of the countries it wants with it. (The final number will be 10). The other European countries will have no option but to tow the line of a German led (Vatican influenced) United States of Europe.
This will not be a democracy.
The losers? The rest of the world. Unfortunately, this European (Beast) of Revelation is destined to lead the world into WW3.