Associated Press - The European Union pressed and pushed hard for individual nations to give up their currencies then deal only in the Euro.
Now that straegy has come to haunt them with each passing hour. Greece went with the Euro. Greece is now in critical financial condition due to so much debt the nation can hardly make payments nor find
willing lenders.
So, here comes the problem - What happens to the Euro if Greece defaults as many people believe will happen very, very soon? Germany has already and very reluctantly pumped a large amount of German treasure into propping up Greece mostly for the sake of the Euro. It is doubtful Germany will shovel any more of their wealth into a hopeless financial cause.
It is a sort of soap opera moment. Will the rest of Europe sink their
wealth into Greece to prop up the Euro? What about other nations
such as Portugal that look questionable financialy? Is all of Europe going to sink to a level playing field for the sake of the Euro? Will the European Union ask their members to cease existing as nations and become states
of a United Europe for the sake of combining wealth? Will Germany and other well managed nations bail out of the European Union?
Well, stay tuned but here is a bit of advice - you probably should not trade your dollars for Euros in the next twenty or thirty days.
I tried to help Greece out last summer by going and buying up a bunch of souvenirs, visiting various monuments, and eating my weight in lamb. Hope they come out of it, very beautiful country.
The European Union is the least of OUR worries. Now as to and for the UN Arms Trade Treaty, that we really have to watch out for and be concerned with...
Goldman Sachs sold them a bunch of junk and then betted on their collapse. Since we bailed out G/S, we already helped them. As long as the Federal Reserve loans us our own money we will never get out of debt. If I had anything to do with it, All countries should go default and start their own currencies, leaving the banksters out of it.
My bet: Germany bails. Maybe not now, but they won't float the EU forever.
Perhaps you are right, JB, however, the dominoes will fall in the appropriate order...The rain, in the plain, in Spain, will cause more pain...Please not that both of these counties operate under the worker's paradise plan...
Quote:
Originally Posted by ImNewHere
One of the reason the Brits are glad they kept their own currency.
One of the few things that the Brits have done rightly...Oh, also the Swiss and their Franc..
Quote:
Originally Posted by Deersniper
Goldman Sachs sold them a bunch of junk and then betted on their collapse.
The same as a junkie blaming his "high care provider."
Oh as for the Euro, from high of about 1.60 to the current 1.35 USD, it is like frying a fish, it will continued to be battered.
One day it may even be called the Yugo!
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God bless and our Men and Women In Uniform. RIP Arkansas Hunter e
Tying your currency together does you no good as you are seeing now. If one country has a bad economy it drags the rest down. you use one of the stronger ones to bail it out and you start a domino effect.
Teach
and our Men and Women In Uniform. RIP Arkansas Hunter e 
