Is This the Beginning of the End for Euro?

An EU official told CNBC Tuesday that a meeting on Friday is very likely, as Europe’s politicians have a new sense of urgency after the markets started targeting Italy.

George Osborne, the UK Finance Minister, is calling for “decisive action” following a big jump in Italian borrowing costs that has raised fears of contagion spreading from Greece to the euro zone’s third biggest economy.

"The continued failure of European policymakers to agree on a new package to support Greece and the growing signs that larger economies like Spain and Italy are being dragged further into the crisis could mark the beginning of the end for the single currency union in its current form," Jonathan Loynes, the chief European economist at Capital Economics, wrote in a research note.

"The plan appears to reflect a growing recognition that temporary forms of assistance, such as bail-outs and debt extensions, designed to buy Greece time to return to growth and restore its public finances to health are simply insufficient," said Loynes.

"With Greece’s debt likely to carry on rising inexorably if left alone, investors are understandably reluctant to take on long-dated bonds without more decisive action."

"The growing signs of contagion suggest that solving Greece’s problems may not be enough to prevent the debt crisis from continuing to deepen. For that, any Greek solution might have to be applicable to Spain and Italy as well. But Italy’s debt is almost ten times as large as Greece’s and cutting it to the euro zone average would cost 10 percent of euro zone GDP," Loynes added.

Is this the Beginning of the End for the Euro?

Well I would not be surprised at all given the deepening debt crisis gripping the Eurozone. I wonder if the Euro goes down, what would become of other currencies? Surely the collapse of the Euro could not be orderly or straightforward? Again, what contagious impacts could this have on banks and financial institutions both in Europe and elsewhere around the world? I posit that the end of the Euro will have far broader global repercussions on finance and banking industries, of which the extent of damage could not be readily determined, but likely an ugly outcome in the event that it couldn't be contained.


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Well,

Nicely presented!

I feel that the impending collapse of the western financial complex will begin with the succession of member-states from the EU.... Only then, will the military-industrial-media complex shift their policy toward a true war-time mobilization.

That is when you will see martial law in the USA. You will also see civil unrest, gun-grabbing policy swings, bourgeoisie protests that are met with proletariat demonstrations, and much buggery.

If we get through the next 18 months without the SH-ing-TF, I think that we should consider ourselves lucky.

Maybe we all should think of a safe-word to recognize each other...

I smell a one-world currency on the horizon! When the euro collapses we don't have much time before the dollar completely falls! Start stocking up on dry foods, water, whatever else you need to survive these luciferians in charge!!

Were bloody lucky we kept the pound..

I wonder what the effect will be on the pound, would it get stronger? Or would it devalue because of our connection to Europe?

Either way.. It's good we kept it...

And what would become of the other countries in the euro. Surely it would take years for them to switch back to and stabilize their own currency..

Originally posted by NellahB
I smell a one-world currency on the horizon! When the euro collapses we don't have much time before the dollar completely falls! Start stocking up on dry foods, water, whatever else you need to survive these luciferians in charge!!

Why do people resort to fearmongering when we get any bit of bad news?

Stock up on dry food?? I doubt you even know what your talking about...

I live in Europe and I indeed fear the end of the Euro. Well fear is not the proper expression, I foreshadow it. Because the fall of a tool of mass slavery shouldn't be feared; it should be embraced.

How come there's not a single (EU) country that can say: "Oi, look at us. We got this money thing covered quite well! Debts? No mate, we got a surplus this year!"

I live in a wealthy country but we also have debt. There are no countries without debt(?!)

So what game is being played here? Well, all money is debt. And since all countries use money, every country is in debt. And this debt is almost always growing larger. But how does a country pay off it's debt? By taxes! In other words; by the people's labour. This is why we are all slaves, struggling by working hard to keep a dying system alive.

As long as the people's labour can cover current debtrelated obligations, a country will be OK. But sooner or later every country will bow to it's knees to the monster called debt. It is only logical that Greece is such a defining example since the Greeks have lower work ethics and standards than the rest of the EU. They retire early and are just more laidback when it comes to work.

I personally like this lifestyle very much, but a debtbased economy is unforgiving. This time it was Greece who was the slowest and did not manage to grab a chair when the music stopped, but more will follow. As we all know the game will continue and everytime another chair is taken away .

Originally posted by SergeantTrammelant
I live in a wealthy country but we also have debt. There are no countries without debt(?!)

So what game is being played here? Well, all money is debt. And since all countries use money, every country is in debt. And this debt is almost always growing larger. But how does a country pay off it's debt? By taxes! In other words; by the people's labour. This is why we are all slaves, struggling by working hard to keep a dying system alive.

As long as the people's labour can cover current debtrelated obligations, a country will be OK. But sooner or later every country will bow to it's knees to the monster called debt. It is only logical that Greece is such a defining example since the Greeks have lower work ethics and standards than the rest of the EU. They retire early and are just more laidback when it comes to work.

I personally like this lifestyle very much, but a debtbased economy is unforgiving. This time it was Greece who was the slowest and did not manage to grab a chair when the music stopped, but more will follow. As we all know the game will continue and everytime another chair is taken away

.

The only viable solution to keep the financial system afloat would be to cancel debts. For that to happen, those involved need to grow closer and for them to realize that's the only way out, I deem another bloody world war necessary. Debts have grown to high with Japan, the US and the PIIGS being the prime examples. It would more or less be a reset of the system and yes, that doesn't come without consequences. Some people will loose a lot of wealth.

Originally posted by NellahB
I smell a one-world currency on the horizon! When the euro collapses we don't have much time before the dollar completely falls! Start stocking up on dry foods, water, whatever else you need to survive these luciferians in charge!!

Come on. Luciferians? Some think a world currency based on precious metals is a good idea. At least everyone would share in the wealth, instead of just a few. Also a consumer tax would solve all of the income revenue problems, and there would be no more off shore accounts or tax loopholes.

On a more somber note, I see the Euro and the Dollar taking a hard fall in the very near future. Overspending and lack of oversight has bankrupted America and Europe. Less that 200 people have most of the world's wealth right now. Shall we let them keep it, and start anew? Or take it from them and let them starve like we are about to?

The AC will arrive shortly...Please stand by!

You and I both know where this is leading! There will be someone (UK) who will be a King of kings! This person will be embraced by the Masses as they want to save their "assets", but as the story goes everyone will bend over and kiss their "assets" goodbye!

Dare I laugh in the face of evil! Evil gets what evil wants! However, soon there will be the two Witnesses to capture! A rejoicing will commence followed by a gift giving amongst the wicked Countries participating in this madness!

I would pray that Libya is set free of the tyranny of Europe and the US!

Heads up on why this Prince is bouncing around at Bohemian Grove! I would not want to be privy to such madness yet we all must bear this equally.