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Europe is imploding right now in front of you

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posted on Jun, 13 2012 @ 05:19 PM
Greeks Withdraw $1 Billion a Day Ahead of Vote

Greeks pulled their cash out of the banks and stocked up with food ahead of a cliffhanger election on Sunday that many fear will result in the country being forced out of the euro.

Spain credit rating cut by Moody's to just above junk

Spain's rating was cut three notches, from A3 to Baa3 - one notch above junk.

Fitch Downgrades 18 Spanish Banks, Cites Concern About Bad Loans

@CNBC tweeted:
BREAKING: Geithner: This time different from other Europe blow-ups; Euro. leaders not minimizing risks, not telling us they have lot of time

PM denies Italy in need of a bailout

As soon as a country starts denying it needs a bailout, its already happening. Spain were in denial right up to last weekend. All the other countries getting bailouts were at the same BS before accepting bailout.

Europe is collapsing right now. I guess there will be a period of absolute anarchy. Sit tight, Keep your head down. We can get through it. It will spread to rest of world faster than you can believe. Its all f'd up but it will work out in the end. Keep you head.

edit on 13-6-2012 by lacrimaererum because: (no reason given)

edit on 13-6-2012 by lacrimaererum because: (no reason given)

posted on Jun, 13 2012 @ 05:21 PM

off-topic post removed to prevent thread-drift


posted on Jun, 13 2012 @ 05:24 PM
I am beginning to wonder if the Olympics being held in London this year will boost enough revenue in such a short period of time that they may make it out okay.

posted on Jun, 13 2012 @ 05:32 PM
reply to post by Agarta

not sure but i don't think the games start until end of july. if thats the case its probably too late. countries will start pulling out all thru July.

you are going to see anarchy. people are stocking up food in greece. this is just the start. it will spread like wildfire.they have been pretending they are just going to isolate greece. too late. not going to work. spain screwed and now strong indications Italy is screwed too. Cant cope with Italy. Whole thing is on fire.

posted on Jun, 13 2012 @ 05:35 PM

Rating Action:
Moody's downgrades Cyprus's government bond ratings to Ba3 from Ba1; on review for further downgrade

(CBS/AP) NICOSIA, Cyprus - Moody's credit ratings agency has driven Cyprus deeper into junk status with a two-notch downgrade to Ba3 over an increased likelihood that debt-crushed Greece will leave the eurozone.
edit on 13-6-2012 by lacrimaererum because: (no reason given)

posted on Jun, 13 2012 @ 05:55 PM
reply to post by Agarta

is that a joke? did it help Greece? I admit i've always been against the olympics being in Britain, but could anyone explain how the olympics can boost the economy? i don't mean this sarcastically, i would actually like to know :-) The Euro will either collapse or take a major hit, i think everybody realises that... if the value of the money is the debt owed up through the banking system, it's a very risky game, and it was never really a question of if but when. I feel we (the UK) won't suffer as bad as Europe, but we'll suffer, and those in the US will be suffer far less than some of the bug out bag having doomsdayers would have you believe. (no disrespect to anyone with a bug out bag, just poking fun) I am pretty poor though and have very little, so have less to lose. If society collapsed now a lot of my problems would collapse with it. I look to the future though. We (all of us) need to start building alternative social structures though, and be diligent, intelligent, and ready to listen and talk constructively... stay safe people...

posted on Jun, 13 2012 @ 06:00 PM
reply to post by lacrimaererum

Don't forget little old Ireland.

The International Monetary Fund on Wednesday approved a 1.4 billion euro ($1.13 billion pounds) disbursement to Ireland under a three-year IMF-EU rescue loan and cautioned that the broader euro-zone debt crisis could dampen the country's export-led recovery.

1.4 billion euro's will look like small change soon.

edit on 13/6/2012 by skuly because: bloody colour didt work

posted on Jun, 13 2012 @ 06:07 PM
Does the moody rating reallly mean anything anymore anyway? It's been a waiting game for a while now. Nowwww they are "downgrading" several countries that should have been "downgraded " long ago.

Society is falling apart....and you know what? We probably all deserve this. This monster is "our" creation. Tick tock.

posted on Jun, 13 2012 @ 06:10 PM
I hope the Euro does collapse because it will help Britain leave the EU. Britain will never escape the EU if it's an economic success and Britain can never be a true democracy whilst being a region of a German economic empire. If you live in the UK my advice is to get down to your local supermarket and buy as much cheap tinned food as you can. If you go for the value ranges you can get vast amounts for a few hundred pounds. Did you know that the last government scrapped Britains strategic food reserve? We used to maintain enough food and fuel to keep the country going for 6 months. Now if the economic system collapses or there is a major panic, there will be no food within days. We are governed by morons!

posted on Jun, 13 2012 @ 06:16 PM
reply to post by lacrimaererum

I was actually referring to England itself if the Euro goes under.


reply to post by theGreatunhosed

I realize it didn't help Greece much but they were much further along in to having issues. Not to mention the amount borrowed to construct the grounds. I think that England is in a much better position to come out okay having the boost of income from the Olympics if the Euro collapses throughout Europe anytime soon. I may not have all the facts and what I may be missing could show otherwise, I understand, but England is a strong bunch(

posted on Jun, 13 2012 @ 06:19 PM
reply to post by fictitious

Don't worry the banks have a cunning plan.

Just ignore the rating agencys.

I have learned that finance directors and other executives from about a dozen of the Continent's biggest lenders held talks on the issue during the Institute of International Finance in Copenhagen last week.

I'm told that the discussions did not result in a formal decision to reduce the amount of information disclosed to Fitch, Moody's and Standard & Poor's, but one source familiar with the talks said today that "things are certainly moving in that direction".

The judgements of the dominant trio of ratings agencies have been questioned repeatedly as the Eurozone crisis has deepened, triggering downgrades of numerous European governments and major banks.

Moody's is expected to announce downgrades to the ratings of British banks including Barclays, Lloyds Banking Group and Royal Bank of Scotland in the next few days.

One senior bank executive put it like this to me: "The ratings agencies got it horribly wrong on the way up; there are lots of reasons to suppose they are getting it wrong on the way down."

European Banks Preparing To Boycott Big Three Rating Agencies
edit on 13/6/2012 by skuly because: why o why won't the colour work first time please tell me someone

posted on Jun, 13 2012 @ 06:29 PM
Well, at least the Queen and her reptilian brood got to go down the river in glory first! Next they get to play Olympian and smile all the while knowing they are broke, broke, broke! How much for that tiara?

posted on Jun, 13 2012 @ 07:24 PM
Well if Moody's downgrades Spain again (to junk), then as I understand it there will be a margin call, and basically will cause Spain even more troubles.

This weekend is a big event. I predict and hope that Syrizia will take a large part of the vote, and Greece will be out of the Euro. Despite what anyone says, that is the end. The ECB (Euro Central bank, like Bank of England or the Fed), has massive exposure to Greece bailout money. It is not coming back. Troubles are ahead, but at all costs us Europeans must resist calls for a EU super state. No one wants it... piss off EU.

posted on Jun, 13 2012 @ 07:25 PM
Yep...same BS that members here on ATS have been spouting for over two years.

Fear. Monger.

posted on Jun, 13 2012 @ 10:15 PM

Originally posted by amongus
Yep...same BS that members here on ATS have been spouting for over two years.

Fear. Monger.

I just want to tag this post with "I told you so" so that I can come back in a few weeks or months and easily find this thread to post just that. ATS search sucks nowadays, so you know.....

I also want to get a "gentleman's bet" (regardless of our genders) going to where if we have another crash like 2008 at the minimum, you'll come back and eat crow, and if Europe gets through the next year intact and no major economic collapse, I will come back and do the same. Deal?

Great, now we can all quit pissing all over each other's threads with unintelligent posturing and insisting on our own perfect powers of prediction. You don't fear a collapse, great, we get it. And? What does that add? Have any citations to argue about why the markets are stable and everything is peachy keen? Or just more insisting everything's fine?

posted on Jun, 14 2012 @ 01:09 AM
reply to post by 00nunya00

Don't worry about 'among us'. It just happens it is 'among us'. Indeed it is among us, and is subtley trying to redeem leaders of the failed European project from facing due public ire, opprobrium and outright disgust for their lying, cheating, stealing and pillaging of the people. Consider this: If 'among us' decided to walk the streets of Spain with that attitude on display, it would, ironically, no longer be 'among us'.

posted on Jun, 14 2012 @ 03:37 AM

Europe must press ahead with closer political integration no matter how difficult this task may be, German Chancellor Angela Merkel

"It is our task today to make up for what was not done (when the euro was created) and to end the vicious circle of ever new debt, of not sticking to rules," Merkel said.

The enforcer has spoken.

posted on Jun, 14 2012 @ 03:42 AM
reply to post by lacrimaererum

I even caught some good down play on France 24 this evening about the Euro and how Italy is doing such a great job maintaining even though they had to borrow against bonds at a much higher rate.

Then again it is France for ya, and they don't want to alarm anyone.

posted on Jun, 14 2012 @ 03:46 AM

Originally posted by lacrimaererum
This will take your mind off it. Breathe. Relax. Its over,

These nations that are burning have standing armies and armies of police. No zombie hoard could ever equal the threat.

edit on 14-6-2012 by jcarpenter because: (no reason given)

posted on Jun, 14 2012 @ 04:00 AM

Spanish banks borrowed a record €324.6bn from the European Central Bank in May, up from €319.9bn in April, according to Bank of Spain figures. The data cast doubt over the proposed €100bn banking bailout for Spain - will it be enough?

Borrowing from Portuguese banks also hit a new record high peak of €58.7bn last month. This shows that banks continue to shy away from lending to each other - trust is the main issue - as the eurozone debt crisis lurches to new lows.

Spanish government bond yields have surged to new record highs, tracked by Italian yields.

Standard and poors report on european banks ;

Of the 50 largest rated European banks, 27 currently have negative outlooks or negative CreditWatch placements, reflecting our view of the difficult economic and market environment across the region. For some banks, the negative outlooks are at least partly due to their domestic sovereigns also having negative outlooks. The other 23 institutions have stable outlooks and are primarily located in France, Germany, Sweden, and the UK.

( intesting little side note released this morning: Germany, France and Britain plan to look into possibility of developing a European drone - @Reuters )

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