The Euro could be doomed

  • Posted by a hidden member.
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    Jan 13, 2011 11:30 PM GMT
    "The architects of the euro, caught up in their project's sweep and romance, chose to ignore the mundane difficulties a shared currency would predictably encounter - to ignore warnings, which were issued right from the beginning, that Europe lacked the institutions needed to make a common currency workable. Instead, they engaged in magical thinking, acting as if the nobility of their mission transcended such concerns."

    "The crisis brought further evidence of a basic design flaw of monetary union, namely that we could not rely for its sound working on member countries to carry out appropriate economic policies ... "

    The Huffington Post
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    Jan 14, 2011 2:13 AM GMT
    Large numbers of people reportedly lost the value of their savings when the Euro was implemented.

    Are they still trying to institute the "Amero" for Canada, Mexico and the United States?

    There are so many claims about conspiracy. Since finances are actually quite simple, it does make me wonder, for sure.
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    Jan 14, 2011 2:24 AM GMT
    Kell_la saidLarge numbers of people reportedly lost the value of their savings when the Euro was implemented.


    yeah we did, I hate hate hate that coin ugh
  • LifeByTheHorn

    Posts: 255

    Jan 14, 2011 7:08 AM GMT
    The tragic fall of the EURO!!!!!! Lucky England,Bulgaria, Sweden , the Czech Republic, Romania, Denmark, Hungary, Latvia, Lithuania and Poland !!!! Some were very cautious and observing the outcome for a long time, like Denmark,England, Sweden and others were anxious to join into the Eurozone....they just hit the jackpot!!!! Wheeeew!!!! Saved their asses barely!!!!!
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    Jan 14, 2011 8:13 AM GMT
    Euro is gay bro.
  • Rowing_Ant

    Posts: 1504

    Jan 14, 2011 8:53 AM GMT
    Euro like a Federal Europe is a brilliant idea. Like eveything else its got teething troubles, especially with the international banking situation.

    The stronger, united Europe is better for all, especially one which can stand up to America on the world stage rather than roll over and have its belly tickled like Britain did under Blair.
  • TrentGrad

    Posts: 1541

    Jan 14, 2011 10:56 AM GMT
    Kell_la saidLarge numbers of people reportedly lost the value of their savings when the Euro was implemented.

    Are they still trying to institute the "Amero" for Canada, Mexico and the United States?

    There are so many claims about conspiracy. Since finances are actually quite simple, it does make me wonder, for sure.


    As I recall, there was never any serious support for the "Amero" idea in the first place.
  • maverik

    Posts: 47

    Jan 14, 2011 11:50 AM GMT
    Shopping for fabolous things is soooo much easier with the Euro. What we need next is for Amazon to ship everything everywhere, one big paypal bank and equalised sales taxes...

    If anybody lost savings when the euro was implemented they must have been pretty stupid cos it wasn't like it was introduced quietly - but perhaps their dosh weren't legit, in which case it serves them rite.

    You know there is actually something magical and noble in the mission to bring peace and prosperity to the many parts of europe that were either living in poverty or under dictatorship, or both.

    It sure aint easy, it is but so much better than the alternative models - or worse, doing nothing at all. Britain did try but got their sums wrong. Denmark and Sweden, as the richest countries around, are being somewhat selfish and could share more, but Europe, overall, seems a better and wealthier place and at least those savvy europeans had the guts to give it a go...

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    Jan 14, 2011 12:14 PM GMT
    The article:

    http://www.huffingtonpost.com/2011/01/13/paul-krugman-euro-crisis_n_808471.html

    Meh, I think he's just looking at it from an American perspective and failing to see that a common currency could be anything but the American dollar model. The Euro still has vastly different buying power across the member states, yet there is a central bank... The EU is a common government... There are economic policies that are supposed to be implemented, but some countries cheated, etc. His comparison of Ireland to Nevada is pointless. No one in the whole world sees an American state as a country. The difference is that the Eurozone countries are individually responsible for their failing economies and American states aren't. He says Nevada doesn't have to account for the real estate bubble or bank failures as if that's a good thing, but of all cities, shouldn't Vegas have to take the heat? In my view, the American model is more distorted that way. Anyway, the point is that the American and European models are different and don't need to be comparable. The Euro isn't going anywhere - certainly not under the influence of the US.
  • Posted by a hidden member.
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    Jan 14, 2011 1:25 PM GMT
    I hope the Euro will stay forever. They just need to find a way to equalize the poorer countries...
    It is definitely awesome to travel in Europe and not having to change money everytime you change countries!!!!!
  • maverik

    Posts: 47

    Jan 14, 2011 2:09 PM GMT
    i've come back to this post because I forgot to say that I just love the word: "doomed". As in "we are all doomed". Love it, love it, love it.
  • Posted by a hidden member.
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    Jan 14, 2011 2:13 PM GMT
    Naaa i dont think its doomed
  • LifeByTheHorn

    Posts: 255

    Jan 15, 2011 7:21 AM GMT
    Greek economy totally collapsed, Ireland followed.....Portugal is in the verge of crash. Spain is having a very hard time. Italy has troubles, but too big to tank down,most likely it will survive...New Greek government lead by George Papandreou literally begged other european governments for financial aid desperately, being and aid guzzling suckling of Europe. Germany and France & other came up with a plan! Neighboring Turkish minister said that they can glady help ailing Greek economy, since Turkish economy is growing and one of the fastest in the world and in Europe.

    As a europea I do hope Europe will heal from this economic upheaval and everything will be promising and rosy again!