The Big Bailout of the Eurozone (Another crisis coming? - Seriously)

[Declan]

http://www.irishexaminer.com/ireland/germans-put-off-ratifying-eu-fiscal-treaty-193380.html

Yet we carry on full steam ahead

[thejuice]

I've a few questions to ask if someone could take the time, I'd be grateful.

I'm curious to know what people think we actually are voting on. I know this sounds like a strange question. But for a start, this isn't a vote on whether we get austerity or not.

Austerity is now a given. €5000 will be taken from the pockets of every Irish adult over the next 3 years every year.

So are we voting against the government?

Do we want out of the €uro or even the EU?

Can we get a better deal?

Can we post-pone it?

The next question I have, and this is the crucial one. What does the final Union supposed to look like? How is it structured and funded?

As a peripheral nation can we rely on future funding from the countries that benefit the most from the EU. Basically Germany. Will it be an EU wide standard currency, taxes and wages. This is obviously going to benefit them, it would only make sense that they contribute to the poorer countries, to have an EU wide standard of living.

And not through borrowing. This is what a union is. Just like Northern Ireland nor Wales don't need to pay back the city of London for all the money to generates to keep them.

But is that what we are getting? Me thinks not since the Germans don't want it. They want a federation. So how then is any of this to our benefit to stay in?

Another question at a larger scale. The US, or it's banks have had a hand in the downfall of the €uro. Is a failing €uro exactly what the dollar needs. Did the USA feel its position as the de facto world trade currency under threat.

I think the big problem for Europe is that it hasn't really spelt out where its going and why should we (the people of Europe) stick by it. The useless assholes we elect can't give us a better answer than "Vote Yes for jobs" which doesn't ring through.

[armaghniac]

This means that the Irish government has chosen to go down a path which will lead to Europe deciding what our tax regime is; how much citizens will pay in taxes and how much is paid out on welfare to those in need.

Adams being careless with the truth, as usual.
Europe doesn't care how how much Irish citizens will pay in taxes and how much is paid out on welfare, provided that the former pays for the latter and the money is not borrowed.

Where does the government plan to get this money? Thus far it has failed to say.

Where does Adams plan to get the money? Thus far he has failed to say.

[thejuice]

Will be changing £1000 into €'s sometime this week. Need them in hand by Thursday. How low do you think it will drop.

On XE.com its at 1 GBP = 1.25128 EUR

[seafoid]

Maybe 1.24
I think a lot of carnage could be priced in already
plus the £ is no great shakes either at the moment

[Abble]

Will be changing £1000 into €'s sometime this week. Need them in hand by Thursday. How low do you think it will drop.

On XE.com its at 1 GBP = 1.25128 EUR

how are you going about getting your currency converted as a matter of interest ?

[The Hill is Blue]

Where does Adams plan to get the money? Thus far he has failed to say.

Have you not heard of the Provos' new strategy of the ballot box and the silver bullet?

[thejuice]

Will be changing £1000 into €'s sometime this week. Need them in hand by Thursday. How low do you think it will drop.

On XE.com its at 1 GBP = 1.25128 EUR

how are you going about getting your currency converted as a matter of interest ?

https://www.iceplc.com/

best rates I could find. £1 = €1.23

[Abble]

Will be changing £1000 into €'s sometime this week. Need them in hand by Thursday. How low do you think it will drop.

On XE.com its at 1 GBP = 1.25128 EUR

how are you going about getting your currency converted as a matter of interest ?

https://www.iceplc.com/

best rates I could find. £1 = €1.23

try 1 GBP = 1.25771 EUR on www.xe.com

[thejuice]

am I mistaken, but XE.com don't sell currency?

[Abble]

am I mistaken, but XE.com don't sell currency?

i think i spotted somewhere in there you can get currency converted via your bank a/c.
I'll get looking better later on

[seafoid]

Thejuice

I saw in the FT over the weekend that the markets don't think Greece will leave the Euro this week
and that some deal will be cobbled together so the exchange rate should be stable enough.

[Declan]

All aboard the punt nua
http://www.irishexaminer.com/ireland/towns-retailers-willing-to-take-a-punt-to-boost-business-194080.html

[thejuice]

Towns in England which are part of the "transition movement" have been using their own local currency for the last few years.

It's been really successful where its been used.

[Declan]

So today we have;
PARIS—France's new Finance Minister Pierre Moscovici Thursday said the government will push to renegotiate the European Union's fiscal compact on budget discipline.

"The treaty won't be ratified as it stands and it needs to be completed with an addition on growth," Moscovici said in an interview with local news channel BFM TV.e

Citigroup just said on bloomberg Spain WILL need a bailout by the end of the year. Not mincing words. Bankia just dropped by 25%.and have liabilities of almost €300 Billion.

CNBC is reporting Greece is limiting bank withdrawals to €50, not confirmed yet.


Everyone ready to vote??