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Topic History of: As the Eurozone continues its collapse .....
Max. showing the last 5 posts - (Last post first)
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Innocent Accused |
Foz wrote:
david wrote:
Amid all this hysteria about the euro, just a few points I'd like to make:
* The Euro itself is holding up well against other currencies, such as the £.
* A close friend of mine owns several engineering companies with business interests around the world, but specifically in China and the States. For a few years now he has said that his Chinese business partners have been asking to do deals in Euros rather than Dollars, and that the Americans have been increasingly annoyed by this tendency which is apparently widespread in China.
* One last point, I have been a bit dismayed by the way some people who are anti-EU have latched onto the Eurozone crisis as if it were some kind of proof that the EU is stuffed. It isn't proof of any such kind of thing. The EU has many faults, but let's separate out the issues.
It is holding up well, but that is really because the European bank is holding the rates at a heady 1.5% therefore the currency chuggers are sticking with Euros. Compare that to the UKs 0.5, and USA 0.25. I recall Japan has even lower rates. Also the US is considered to be shot - its debt is mountainous even compared to the whole of Europe and I can inderstand people turning away from the dollar. This is all very well until China decides enough is enough - there are already rumblings that banks in China are exposed to too much debt.
Having a strong currency is not necessarily a good thing during a recession. People think that Greece is now a bargain holiday destination - it isn't. The Eurozone is expensive and if anything prices have gone up over there. They are stuck with the Euro pegged as it is by the central bank.
I do a lot of transactions with Russian and Far Eastern companies - they still prefer Sterling tranactions. Despite our problems it is still a relatively stable currency and the UK still has a AAA rating (for now).
The Euro isn't stuffed, but this situation highlights the main issue of the Euro - lumping poorer nations in with the richer nations and not enough control over who is let in. They will probably have to introduce some kind of two tier system.
Well said Foz.
The euro is only holding up because the richer nations are being bled dry to pay for the debt in the poorer parts! Even France is seen as weak now by the markets.I believe the last I heard the opinion polls in France/Germany were not enthusiastic about the Euro in its current state.
The faults of the euro are all because of politics.It was about foisting a united europe through a currency,not about sensible economics.
Those who did not learn the lessons of black wednesday 1992,have still learned nothing.But still feel they know better than the majority about what is best for the 'uneducated masses'. |
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Foz |
david wrote:
Amid all this hysteria about the euro, just a few points I'd like to make:
* The Euro itself is holding up well against other currencies, such as the £.
* A close friend of mine owns several engineering companies with business interests around the world, but specifically in China and the States. For a few years now he has said that his Chinese business partners have been asking to do deals in Euros rather than Dollars, and that the Americans have been increasingly annoyed by this tendency which is apparently widespread in China.
* One last point, I have been a bit dismayed by the way some people who are anti-EU have latched onto the Eurozone crisis as if it were some kind of proof that the EU is stuffed. It isn't proof of any such kind of thing. The EU has many faults, but let's separate out the issues.
It is holding up well, but that is really because the European bank is holding the rates at a heady 1.5% therefore the currency chuggers are sticking with Euros. Compare that to the UKs 0.5, and USA 0.25. I recall Japan has even lower rates. Also the US is considered to be shot - its debt is mountainous even compared to the whole of Europe and I can inderstand people turning away from the dollar. This is all very well until China decides enough is enough - there are already rumblings that banks in China are exposed to too much debt.
Having a strong currency is not necessarily a good thing during a recession. People think that Greece is now a bargain holiday destination - it isn't. The Eurozone is expensive and if anything prices have gone up over there. They are stuck with the Euro pegged as it is by the central bank.
I do a lot of transactions with Russian and Far Eastern companies - they still prefer Sterling tranactions. Despite our problems it is still a relatively stable currency and the UK still has a AAA rating (for now).
The Euro isn't stuffed, but this situation highlights the main issue of the Euro - lumping poorer nations in with the richer nations and not enough control over who is let in. They will probably have to introduce some kind of two tier system. |
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veritas |
Kevin wrote:
veritas wrote:
Just as the savage cuts in housing benefits haven't resulted in lower housing costs-just a shift in who pays to house people .
They were never intended to ... just make those pay for what they get.
Why should I pay extra tax so some layabout can get a free house?
you pay extra tax to cover the tax avoiders like News Corp, Vodafone etc.
yes you are right- you've been paying extra taxes to provide an asset build-up for property developers who provide houses for those on benefits.
No-one directs their fury in the direction it belongs. |
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Innocent Accused |
david wrote:
Amid all this hysteria about the euro, just a few points I'd like to make:
* The Euro itself is holding up well against other currencies, such as the £.
* A close friend of mine owns several engineering companies with business interests around the world, but specifically in China and the States. For a few years now he has said that his Chinese business partners have been asking to do deals in Euros rather than Dollars, and that the Americans have been increasingly annoyed by this tendency which is apparently widespread in China.
* One last point, I have been a bit dismayed by the way some people who are anti-EU have latched onto the Eurozone crisis as if it were some kind of proof that the EU is stuffed. It isn't proof of any such kind of thing. The EU has many faults, but let's separate out the issues.
David you forget the euro was in itself a very political statement,and one that has proved those who wanted more integration put politics before reality.
Sure we are adult enough to disagree in an amicable way  Greeting from Ukraine...a very cold Ukraine,and a Ukraine where interest in joining the EU is waining fast  |
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david |
Amid all this hysteria about the euro, just a few points I'd like to make:
* The Euro itself is holding up well against other currencies, such as the £.
* A close friend of mine owns several engineering companies with business interests around the world, but specifically in China and the States. For a few years now he has said that his Chinese business partners have been asking to do deals in Euros rather than Dollars, and that the Americans have been increasingly annoyed by this tendency which is apparently widespread in China.
* One last point, I have been a bit dismayed by the way some people who are anti-EU have latched onto the Eurozone crisis as if it were some kind of proof that the EU is stuffed. It isn't proof of any such kind of thing. The EU has many faults, but let's separate out the issues. |
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