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Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse

 
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07/19/2011 03:50 PM
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Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
Looks like this is it, folks. Full-scale systemic economic collapse may have just started. I would very much appreciate it if this thread was kept open for serious discussion.

Just out, 45 minutes ago, From Ambrose Evans Pritchard of the London Daily Telegraph, (Ambrose Evans-Pritchard is International Business Editor of The Daily Telegraph. He has covered world politics and economics for 30 years, based in Europe, the US, and Latin America. He joined the Telegraph in 1991, serving as Washington correspondent and later Europe correspondent in Brussels).

[link to www.telegraph.co.uk]

Only Germany can save EMU as contagion turns systemic

'...Europe's leaders have finally run out of time. If they fail to agree on some form of debt pooling and shared fiscal destiny at Thursday's emergency summit, they risk a full-fledged run on South Europe's bond markets and a disorderly collapse of monetary union...'

'...The International Monetary Fund said there is now "serious risk" of eurozone contagion with "large" potential knock-on effects worldwide. "Market participants remain unconvinced that a sustainable solution is at hand," it said.

Suki Mann from Societe Generale caught the mood in a note to clients, asking whether it is "all over". "Eurozone politicians don't – or don't want to – understand that the eurozone as we know it is on the precipice. Greece appears beyond repair, Italy is on the brink, and the chances are that the euro might be no more very soon," he said.

RBS fears that Europe is on the cusp of "system-wide convulsion" after yields on Spanish 10-year bonds reached post-EMU records of 6.34pc this week, and Italian yields topped 6pc. "We believe that Spain has entered the danger zone for yield levels," said Harvender Sian, the bank's credit strategist, who fears the "point-of-no-return" may be 6.5pc. "Given that Spain [and likely soon Italy] has entered this territory, there is a growing risk that a large systemic risk event is plausible in the near term and if not then in a matter of weeks."

The bank has called for a bail-out fund with €2 trillion of full lending power to stabilise the system, even if this risks pushing German debt levels above 110pc of GDP and causing apoplexy in the Bundestag.

The bond fund Pimco has its own idea: throwing Greece, Ireland and Portugal to the wolves, and concentrating €1 trillion in "overwhelming force" to defend Spain and Italy. That major players should utter such thoughts shows how fast events are moving.

For 18 months the EU has treated the serial crises on the EMU margins as liquidity headaches. It hoped that time would slowly lift the distressed debtors off the reefs, while the penal terms of "Ultima Ratio" attached to bailout loans would deter other EMU states from seeking help. "Shock and Awe" rhetoric would do the rest.

The strategy has failed because it did not acknowledge that the deeper crisis is a North-South structural gap that has left half the eurozone with variants of 1930s debt-deflation, a condition that cannot be solved by austerity measures or by any one country alone.

"We are approaching the endgame for this part of the European sovereign crises: the number of cans that now need kicking down the road would challenge the left foot of Lionel Messi," said Gary Jenkins from Evolution Securities. "The chances are that the EU will only take the step of fiscal union or common bond issuance at one minute to midnight on a weekend when it is clear that the system is close to collapse." ...'

For more, see link above

If you're in Europe, I recommend you get your savings somewhere safe right now.
Anonymous Coward
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Germany
07/19/2011 03:52 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
Only Germany can save EMU as contagion turns systemic
 Quoting: Intentionally Blank


Really...
Anonymous Coward
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United States
07/19/2011 03:57 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
THIS SHOULD BE PINNED
Intentionally Blank (OP)

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07/19/2011 04:01 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
This is important guys. Real important.
<FOCUS>
User ID: 660580
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07/19/2011 04:03 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
5 STARS - PIN PLEASE MODS

We are so freaking close.
Anonymous Coward
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07/19/2011 04:03 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
bump

THIS REALLY SHOULD BE PINNED
Anonymous Coward
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07/19/2011 04:05 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
bumpyodabump


US banks have so much money tied up in Europe. Get ready for all out collapse.
Intentionally Blank (OP)

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07/19/2011 04:06 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
I took yesterday off work and we moved our money to a safe place. Whew! That was close!

Last Edited by Intentionally Blank on 07/19/2011 04:06 PM
Anonymous Coward
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United States
07/19/2011 04:07 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
Well, that is interesting.
Anonymous Coward
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Austria
07/19/2011 04:07 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
Yeah .. could be a close call this weekend.

Finalize preps !

And don´t:
ahhh
Anonymous Coward
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07/19/2011 04:07 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
No way on this earth will this ever be allowed to happen because of the implications of violent riots and mass mayhem , thi will and cannot happen take my owrd for it when they come to an agrement by thursday or at least on thursday, your making something out of nothing fucking retard. TAKE HEED THIS WILL AND CANNOT BE POSSIBLE AND WON'T HAPPEN ITS ALREADY BEEN SORTED BUT THE NEWS AS YET TO BE RELEASED TO YOU ARSEHOLES THE SHEEPLE, TRUST ME I KNOW WATCH AND SEE AND THEN COME BACK AND SAY I WAS RIGHT , GOD YOUR SUCH MORONS.
Sedi

User ID: 1297572
United States
07/19/2011 04:08 PM

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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
Yet the Dow is up up and a away!
Anonymous Coward
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United Kingdom
07/19/2011 04:08 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
Pin this! The Telegraph is probably the most serious, straight-laced and respected newspaper in the world. For the Telegraph to be running this story shows how bad it really is.

This isn't the usual fear-mongering; this is it I think. We truly are staring into oblivion.

Europe is on the edge of meltdown and the US is looking like it may default. Welcome to the end of the west as we know it.
Anonymous Coward
User ID: 331367
Austria
07/19/2011 04:09 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
No way on this earth will this ever be allowed to happen because of the implications of violent riots and mass mayhem , thi will and cannot happen take my owrd for it when they come to an agrement by thursday or at least on thursday, your making something out of nothing fucking retard. TAKE HEED THIS WILL AND CANNOT BE POSSIBLE AND WON'T HAPPEN ITS ALREADY BEEN SORTED BUT THE NEWS AS YET TO BE RELEASED TO YOU ARSEHOLES THE SHEEPLE, TRUST ME I KNOW WATCH AND SEE AND THEN COME BACK AND SAY I WAS RIGHT , GOD YOUR SUCH MORONS.
 Quoting: Anonymous Coward 1474120


Well.. the only thing i can imagine that could (for a short time) reverse the trend would be a..

They announce a 2 Billion Bail-Out .. (euro billion that is = US-trillion)
Anonymous Coward
User ID: 1473791
United Kingdom
07/19/2011 04:11 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
I took yesterday off work and we moved our money to a safe place. Whew! That was close!
 Quoting: Intentionally Blank


piggy bank ?
Anonymous Coward
User ID: 1028419
United States
07/19/2011 04:12 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
No way on this earth will this ever be allowed to happen because of the implications of violent riots and mass mayhem , thi will and cannot happen take my owrd for it when they come to an agrement by thursday or at least on thursday, your making something out of nothing fucking retard. TAKE HEED THIS WILL AND CANNOT BE POSSIBLE AND WON'T HAPPEN ITS ALREADY BEEN SORTED BUT THE NEWS AS YET TO BE RELEASED TO YOU ARSEHOLES THE SHEEPLE, TRUST ME I KNOW WATCH AND SEE AND THEN COME BACK AND SAY I WAS RIGHT , GOD YOUR SUCH MORONS.
 Quoting: Anonymous Coward 1474120


Well.. the only thing i can imagine that could (for a short time) reverse the trend would be a..

They announce a 2 Billion Bail-Out .. (euro billion that is = US-trillion)
 Quoting: Anonymous Coward 331367


The end result will be hyperinflation throughout Western economies, regardless.
dikkie

User ID: 1328988
Netherlands
07/19/2011 04:12 PM

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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
No way on this earth will this ever be allowed to happen because of the implications of violent riots and mass mayhem , thi will and cannot happen take my owrd for it when they come to an agrement by thursday or at least on thursday, your making something out of nothing fucking retard. TAKE HEED THIS WILL AND CANNOT BE POSSIBLE AND WON'T HAPPEN ITS ALREADY BEEN SORTED BUT THE NEWS AS YET TO BE RELEASED TO YOU ARSEHOLES THE SHEEPLE, TRUST ME I KNOW WATCH AND SEE AND THEN COME BACK AND SAY I WAS RIGHT , GOD YOUR SUCH MORONS.
 Quoting: Anonymous Coward 1474120


peace
Anonymous Coward
User ID: 1439309
United States
07/19/2011 04:13 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
Pin this! The Telegraph is probably the most serious, straight-laced and respected newspaper in the world. For the Telegraph to be running this story shows how bad it really is.

This isn't the usual fear-mongering; this is it I think. We truly are staring into oblivion.

Europe is on the edge of meltdown and the US is looking like it may default. Welcome to the end of the west as we know it.
 Quoting: Anonymous Coward 1371719


All we have to do is force the oligarchs to return the stolen loot. Were talking 28 trillion from America alone.
Anonymous Coward
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United Kingdom
07/19/2011 04:13 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
Yet the Dow is up up and a away!
 Quoting: Sedi


ive said it before and ill say it again

we need these types of stories to be in the mainstream media news fox/ccn/sky etc before it will have an afect on the markets...other wise it means shit
GUANO

User ID: 1417391
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07/19/2011 04:14 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
NOOOOOOOOO!!!!


OMG I NEED HELP, EVERYONE HELP ME PRESS THE BUTTON TO MAKE IT STOP!!!!

[link to www.nooooooooooooooo.com]
Total Protonic Reversal...
Anonymous Coward
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Norway
07/19/2011 04:14 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
Tooth fairy will come to the rescue.
Anonymous Coward
User ID: 1465773
United States
07/19/2011 04:14 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
First the EU then the dollar just as planned to rush in the NWO.
5a
Rose Croix

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France
07/19/2011 04:14 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
Excellent post bro!

Let's just hope and pray it blows soon.

Got gold?
May All Things Be Auspicious!
May Excellence Increase!
May Christ/Buddha/Sacred Law of One Dharma Flourish at The Hands of The Ordination.

Peter
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07/19/2011 04:15 PM

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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
5 STARS - PIN PLEASE MODS

We are so freaking close.
 Quoting: <FOCUS> 660580


done/done
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Rose Croix

User ID: 1472548
France
07/19/2011 04:16 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
Looks like this is it, folks. Full-scale systemic economic collapse may have just started. I would very much appreciate it if this thread was kept open for serious discussion.

Just out, 45 minutes ago, From Ambrose Evans Pritchard of the London Daily Telegraph, (Ambrose Evans-Pritchard is International Business Editor of The Daily Telegraph. He has covered world politics and economics for 30 years, based in Europe, the US, and Latin America. He joined the Telegraph in 1991, serving as Washington correspondent and later Europe correspondent in Brussels).

[link to www.telegraph.co.uk]

Only Germany can save EMU as contagion turns systemic

'...Europe's leaders have finally run out of time. If they fail to agree on some form of debt pooling and shared fiscal destiny at Thursday's emergency summit, they risk a full-fledged run on South Europe's bond markets and a disorderly collapse of monetary union...'

'...The International Monetary Fund said there is now "serious risk" of eurozone contagion with "large" potential knock-on effects worldwide. "Market participants remain unconvinced that a sustainable solution is at hand," it said.

Suki Mann from Societe Generale caught the mood in a note to clients, asking whether it is "all over". "Eurozone politicians don't – or don't want to – understand that the eurozone as we know it is on the precipice. Greece appears beyond repair, Italy is on the brink, and the chances are that the euro might be no more very soon," he said.

RBS fears that Europe is on the cusp of "system-wide convulsion" after yields on Spanish 10-year bonds reached post-EMU records of 6.34pc this week, and Italian yields topped 6pc. "We believe that Spain has entered the danger zone for yield levels," said Harvender Sian, the bank's credit strategist, who fears the "point-of-no-return" may be 6.5pc. "Given that Spain [and likely soon Italy] has entered this territory, there is a growing risk that a large systemic risk event is plausible in the near term and if not then in a matter of weeks."

The bank has called for a bail-out fund with €2 trillion of full lending power to stabilise the system, even if this risks pushing German debt levels above 110pc of GDP and causing apoplexy in the Bundestag.

The bond fund Pimco has its own idea: throwing Greece, Ireland and Portugal to the wolves, and concentrating €1 trillion in "overwhelming force" to defend Spain and Italy. That major players should utter such thoughts shows how fast events are moving.

For 18 months the EU has treated the serial crises on the EMU margins as liquidity headaches. It hoped that time would slowly lift the distressed debtors off the reefs, while the penal terms of "Ultima Ratio" attached to bailout loans would deter other EMU states from seeking help. "Shock and Awe" rhetoric would do the rest.

The strategy has failed because it did not acknowledge that the deeper crisis is a North-South structural gap that has left half the eurozone with variants of 1930s debt-deflation, a condition that cannot be solved by austerity measures or by any one country alone.

"We are approaching the endgame for this part of the European sovereign crises: the number of cans that now need kicking down the road would challenge the left foot of Lionel Messi," said Gary Jenkins from Evolution Securities. "The chances are that the EU will only take the step of fiscal union or common bond issuance at one minute to midnight on a weekend when it is clear that the system is close to collapse." ...'

For more, see link above

If you're in Europe, I recommend you get your savings somewhere safe right now.
 Quoting: Intentionally Blank


However, I still believe this is a scheduled stop, so to speak, for the NWO's train.
Those Rothschild's are, after all, cunning stunts !!
May All Things Be Auspicious!
May Excellence Increase!
May Christ/Buddha/Sacred Law of One Dharma Flourish at The Hands of The Ordination.

Peter
Anonymous Coward
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United States
07/19/2011 04:17 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
Pin this! The Telegraph is probably the most serious, straight-laced and respected newspaper in the world. For the Telegraph to be running this story shows how bad it really is.

This isn't the usual fear-mongering; this is it I think. We truly are staring into oblivion.

Europe is on the edge of meltdown and the US is looking like it may default. Welcome to the end of the west as we know it.
 Quoting: Anonymous Coward 1371719


All we have to do is force the oligarchs to return the stolen loot. Were talking 28 trillion from America alone.
 Quoting: Anonymous Coward 1439309




WOW, wonder were this 2.3 trillion went?

[link to www.youtube.com]
Anonymous Coward
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Norway
07/19/2011 04:17 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
Soooo glad we didn't get into that EU-stupidity ...well mostly anyway.
Anonymous Coward
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United States
07/19/2011 04:17 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
But first a major natural disaster will occur first thus nailing the coffin for good on the economy.
King James

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07/19/2011 04:17 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
GLP effect means they will reach workable conclusion and tomorrow it's pink fluffy unicorns dancing on rainbows.
Intentionally Blank (OP)

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United Kingdom
07/19/2011 04:18 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
5 STARS - PIN PLEASE MODS

We are so freaking close.
 Quoting: <FOCUS> 660580


done/done
 Quoting: Phennommennonn


Thanks. I think this could be real serious.
hillcrest3

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07/19/2011 04:18 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
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