Greek crisis brings euro to five-year low

Libra,

As long as the dollar is the target of speculators you guys applaud it and enjoy the "show". But when some speculators recognize the inflated rate of the euro you are crying bloody murder. How childish.

Leonidas,

It looks like Greece foolishly miscalculated. No financial responsibility for a long time. "Deficit spending" was going on on great scale imitating the US. Greece always tought that "don't wary, Brussels or the ECB will help us out". And now it is time of reckoning. Let the die fall as they might!!
(Joe, 23 January 2010 15:23)

Joe

If you look at the US budget deficit its actually higher than Greece's one.But unlike the US Greece is not allowed by the ECB to print money to
finance its deficit.Therefore
it must borrow the money in the open market.

Your problems will start when at some point soon Bernake will be forced to borrow the money to finance his budget deficits.This will start pushing interest rates upwards and you will probably spend two or three times as much on interest payments.

With two wars in progress and
a contracting economy i will be very curious to see what Bernake has under his sleeve.

EU and the Euro has been a target of speculators, and big financial funds outside the EU in the last months. With Greece being exposed on a daily basis by (targeted) articles and news, suspicious broker companies and well-known speculators are trying to devalue Euro, in favour to dollar. Most of these articles and news are actually excessive or even fake fake.

Even the EU commisioner as well as the Greek Prime minister yesterday, publically stated that the Greek economy is by no means in the situation that is described by some "suspicious" sources and of course is far away from being bankrupt or other nonsense like these. He also said that the global economic crisis has touched Greece less intensivelly than other countries - even inside the EU. The finance minister also publically said (just yesterday) that Greece does not need financial help by anyone. So it seems that black propaganda - coming from certain sources - is trying to gain tens of billions that way....

Dutch Finance Minister Wouter Bos told reporters Greece was on its own. I think the EU have found its wiping boy Greece. All the problems of the EU economy and finances will be Greeks fault how very convenient for the rest of them. When is Serbia joining Tadić. I think they can now can fast track Serbia so it can join its friend Greece in the exclusive special part of the EU club. So Greece dose not feel so lonely.

However, EU finance chiefs have made it abundantly clear they are not going to bail out Greece. Arriving for talks in Brussels on Tuesday, Dutch Finance Minister Wouter Bos told reporters Greece was on its own.
B92

Nonsense mr Wooter.If banks are too big to fail so is sovereign countries.If the Greeks hold their ground you'll have the option either to help them out or to see the collapse of the whole project because Greece will be joined by Spain,Portugal,Italy and Ireland.

I am afraid this is the consequence of the policy "one size fits all".The introduction of the single currency was based on the same principles of the
Deutschmark.The main reason that Germany agreed to be the paymaster of the EU was its total and unconditional control over monetary policy.

A strong currency doesn't only reflect the strength of the economy but also that of society and its discipline.
Mediterranean countries, historically,have never lived under currency and budgetary straight jackets.

I am not an optimist as far as the EU is concerned.I do
believe that with time not only it will become irrelevant but it will also
delarge.As soon as member countries realise they cannot be bribed anylonger to stay in the club they will simply go their separate ways.

In a few years the Chinese yuan and the Russian ruble will be the world reserve currency,Russia has the military power and the control over the worlds natural reserves (also through its allies) and China will soon have the biggest market.
Bye,bye euro AND dollar...

Leonidas,

It looks like Greece foolishly miscalculated. No financial responsibility for a long time. "Deficit spending" was going on on great scale imitating the US. Greece always tought that "don't wary, Brussels or the ECB will help us out". And now it is time of reckoning. Let the die fall as they might!!

Leonidas,

It looks like Greece foolishly miscalculated. No financial responsibility for a long time. "Deficit spending" was going on on great scale imitating the US. Greece always tought that "don't wary, Brussels or the ECB will help us out". And now it is time of reckoning. Let the die fall as they might!!

Dutch Finance Minister Wouter Bos told reporters Greece was on its own. I think the EU have found its wiping boy Greece. All the problems of the EU economy and finances will be Greeks fault how very convenient for the rest of them. When is Serbia joining Tadić. I think they can now can fast track Serbia so it can join its friend Greece in the exclusive special part of the EU club. So Greece dose not feel so lonely.

Libra,

As long as the dollar is the target of speculators you guys applaud it and enjoy the "show". But when some speculators recognize the inflated rate of the euro you are crying bloody murder. How childish.

EU and the Euro has been a target of speculators, and big financial funds outside the EU in the last months. With Greece being exposed on a daily basis by (targeted) articles and news, suspicious broker companies and well-known speculators are trying to devalue Euro, in favour to dollar. Most of these articles and news are actually excessive or even fake fake.

Even the EU commisioner as well as the Greek Prime minister yesterday, publically stated that the Greek economy is by no means in the situation that is described by some "suspicious" sources and of course is far away from being bankrupt or other nonsense like these. He also said that the global economic crisis has touched Greece less intensivelly than other countries - even inside the EU. The finance minister also publically said (just yesterday) that Greece does not need financial help by anyone. So it seems that black propaganda - coming from certain sources - is trying to gain tens of billions that way....

However, EU finance chiefs have made it abundantly clear they are not going to bail out Greece. Arriving for talks in Brussels on Tuesday, Dutch Finance Minister Wouter Bos told reporters Greece was on its own.
B92

Nonsense mr Wooter.If banks are too big to fail so is sovereign countries.If the Greeks hold their ground you'll have the option either to help them out or to see the collapse of the whole project because Greece will be joined by Spain,Portugal,Italy and Ireland.

I am afraid this is the consequence of the policy "one size fits all".The introduction of the single currency was based on the same principles of the
Deutschmark.The main reason that Germany agreed to be the paymaster of the EU was its total and unconditional control over monetary policy.

A strong currency doesn't only reflect the strength of the economy but also that of society and its discipline.
Mediterranean countries, historically,have never lived under currency and budgetary straight jackets.

I am not an optimist as far as the EU is concerned.I do
believe that with time not only it will become irrelevant but it will also
delarge.As soon as member countries realise they cannot be bribed anylonger to stay in the club they will simply go their separate ways.

In a few years the Chinese yuan and the Russian ruble will be the world reserve currency,Russia has the military power and the control over the worlds natural reserves (also through its allies) and China will soon have the biggest market.
Bye,bye euro AND dollar...

Leonidas,

It looks like Greece foolishly miscalculated. No financial responsibility for a long time. "Deficit spending" was going on on great scale imitating the US. Greece always tought that "don't wary, Brussels or the ECB will help us out". And now it is time of reckoning. Let the die fall as they might!!
(Joe, 23 January 2010 15:23)

Joe

If you look at the US budget deficit its actually higher than Greece's one.But unlike the US Greece is not allowed by the ECB to print money to
finance its deficit.Therefore
it must borrow the money in the open market.

Your problems will start when at some point soon Bernake will be forced to borrow the money to finance his budget deficits.This will start pushing interest rates upwards and you will probably spend two or three times as much on interest payments.

With two wars in progress and
a contracting economy i will be very curious to see what Bernake has under his sleeve.