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

 
Anonymous Coward
User ID: 1427887
United States
07/19/2011 04:18 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
Are we at that part of the titanic movie where Jack tells Rose to hold her breath?
Intentionally Blank (OP)

User ID: 1474207
United Kingdom
07/19/2011 04:20 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
Are we at that part of the titanic movie where Jack tells Rose to hold her breath?
 Quoting: Anonymous Coward 1427887


Could be.
Rose Croix

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France
07/19/2011 04:21 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.
 Quoting: Anonymous Coward 1465773

And this ii exactly what they are waiting for!
To shit the nest and blame it on Cock Robin!
May All Things Be Auspicious!
May Excellence Increase!
May Christ/Buddha/Sacred Law of One Dharma Flourish at The Hands of The Ordination.

Peter
Luckystrike

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07/19/2011 04:23 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
sfan
Everyone needs to believe in something...I believe I'll have another beer.
Anonymous Coward
User ID: 1473733
United Kingdom
07/19/2011 04:23 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
'...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...'

AEP knows full well the "shared fiscal destiny" will not be forced down the throats of the population.

Sure, the politicians will jaw jaw about it, but imagine the situation where your countries whole fiscal independence were to be removed, because that is what they are talking about.

This WILL force people into direct confrontation with their governments.

Bring it on.
Intentionally Blank (OP)

User ID: 1474207
United Kingdom
07/19/2011 04:24 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
'...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...'

AEP knows full well the "shared fiscal destiny" will not be forced down the throats of the population.

Sure, the politicians will jaw jaw about it, but imagine the situation where your countries whole fiscal independence were to be removed, because that is what they are talking about.

This WILL force people into direct confrontation with their governments.

Bring it on.
 Quoting: Anonymous Coward 1473733


Agreed. Whatever happens, it's about to get ugly.
Anonymous Coward
User ID: 1458882
United Kingdom
07/19/2011 04:25 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.
 Quoting: Anonymous Coward 1138592


I only wish we had followed your example and done the same, though we did manage to stay out of the Euro, which is somethin'. However, can't help feeling it will do us no good what so ever....
Anonymous Coward
User ID: 1473584
07/19/2011 04:26 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
No, it will not happen, never. That would mean collapse of the rest of the world's currencies as well and if that were the case, China would be on it and it is not happening. USA will once again as a mass of pussies invalidate their debt ceiling and cry to the world everyone else is wrong. Uh. Why do yon not see it are you all blind it is obvius. For god sake as you lll say.
Anonymous Coward
User ID: 1291907
United States
07/19/2011 04:28 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


cheer

I did the same thing in 2008, just weeks before the proverbial hitting-of-the-fan-with-shit.

5a
Anonymous Coward
User ID: 1404507
United States
07/19/2011 04:28 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
Nope.... this ain't drawing my nuts up....bring it!
Rose Croix

User ID: 1472548
France
07/19/2011 04:29 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
'...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...'

AEP knows full well the "shared fiscal destiny" will not be forced down the throats of the population.

Sure, the politicians will jaw jaw about it, but imagine the situation where your countries whole fiscal independence were to be removed, because that is what they are talking about.

This WILL force people into direct confrontation with their governments.

Bring it on.
 Quoting: Anonymous Coward 1473733

Nice sentiments bro but they have already proven their power in the preliminaries. The Irish, godbless 'em, probably the strongest nation mentally on the planet, were steam-rollered into a punitive re-payment system with hardly a arm raised in anger. And these guys took the Monarchy on for 50+ years with a willingness to die for a cause.
all washed out now by game shows and euro cash
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
User ID: 1467934
Mexico
07/19/2011 04:30 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...
 Quoting: °Epic°


The people of Germany find it distasteful to have to bear the brunt of the crises and prop up other nations, especially as its economy is one of the strongest in Europe.

Unfortunately, the economic downturn has affected ntot just rich countries but the economically challenged. The PIIGS were always low economies and they joined regardless, lowering the potential value of the Euro.

There are many people wondering if they should leave the union and return to their own currencies, as it might prevent all parties form being taken down even of they are successful.

What to do, especially as the debt payments are more regular than atomic clocks when it comes to collecting so these countries will need long term financial support and if Germany isnt willing to foot the bill, then who can?

Exchanges and currencies will rally based on some good news over the net few days as before, most likely being that there will be a raise in the ceiling of debt.
Anonymous Coward
User ID: 1138592
Norway
07/19/2011 04:30 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.
 Quoting: Anonymous Coward 1138592


I only wish we had followed your example and done the same, though we did manage to stay out of the Euro, which is somethin'. However, can't help feeling it will do us no good what so ever....
 Quoting: Merlin


Sadly enough I guess all our fortune is invested in falling economies - so we're all in the same sinkin' ship.

Let's just do as Iceland! cheers
Anonymous Coward
User ID: 1474252
Germany
07/19/2011 04:30 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
Are we at that part of the titanic movie where Jack tells Rose to hold her breath?
 Quoting: Anonymous Coward 1427887


no we are at the part were they fuck in the car...

Germany pulls its pants down and gets fucket in the ass...
Anonymous Coward
User ID: 1474248
Spain
07/19/2011 04:32 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...
 Quoting: °Epic°


Poor poor, poor Germany.

Leave us alone already you banking loansharks!


I want my peseta baaaaaack

germany
Anonymous Coward
User ID: 331367
Austria
07/19/2011 04:32 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
No, it will not happen, never. That would mean collapse of the rest of the world's currencies as well and if that were the case, China would be on it and it is not happening. USA will once again as a mass of pussies invalidate their debt ceiling and cry to the world everyone else is wrong. Uh. Why do yon not see it are you all blind it is obvius. For god sake as you lll say.
 Quoting: Anonymous Coward 1473584


I am pretty sure china is way more interested in what happens to their dollar reserves and us-bonds than what happens to a few billion in euro-bonds.

Very likely, to keep their dollars to buy assets they will have no problem with a collapsing euro.

Not to forget .. EU is not the biggest chinese customer .. but a opponent in exports.
Destroyer of Humanity
User ID: 1454332
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07/19/2011 04:33 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


YAY!!! I got you now you fucking humans! Bunch of idiotic primates!
Vasile.Lupu

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Romania
07/19/2011 04:33 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
bump
Anonymous Coward
User ID: 964816
United States
07/19/2011 04:33 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


Of course it is...the Dow is no longer a reliable indicator of the economy because the Fed keeps pumping money into it.
Anonymous Coward
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07/19/2011 04:33 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


Don't know you, yet I have mucho respect for your sardonic use of avatar and Alfred E. Neuman signature quote.

For these reasons alone, I take your post to be timely, accurate and prescient.

As for the situation at hand, I say..." tis only a scratch!"...
Anonymous Coward
User ID: 1424917
Norway
07/19/2011 04:35 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.
 Quoting: Anonymous Coward 1138592


Well, when the collapse is a fact, all our money will be gone. All values pumped into the "Government Pension Fund of Norway" or "oljefondet" as we like to call it, will be...pffft...gone. All our wealth transferred to the Rothchilds/NWO.

It is very obvious this whole thing is planned.
Anonymous Coward
User ID: 1196210
United States
07/19/2011 04:35 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
This will be great for the US dollar and US markets. Not so much for EU though. Thanks god we were able to shift the burden of our mortgage collapse overseas. Genius.
Anonymous Coward
User ID: 1395652
Netherlands
07/19/2011 04:35 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
You know, i never heard much theories about what is going to happen after the euro has collapsed and possibly the breakup of the European Union. How does this have effect on the political stage globally?

Where do the superpowers like the US, Russia and China stand after this?
Anonymous Coward
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United Kingdom
07/19/2011 04:36 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
The perfect storm is brewing: the disintegration of the Euro coinciding with a US default.

Likely outcome: widespread civil conflicts.
Anonymous Coward
User ID: 1473733
United Kingdom
07/19/2011 04:37 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
'...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...'

AEP knows full well the "shared fiscal destiny" will not be forced down the throats of the population.

Sure, the politicians will jaw jaw about it, but imagine the situation where your countries whole fiscal independence were to be removed, because that is what they are talking about.

This WILL force people into direct confrontation with their governments.

Bring it on.
 Quoting: Anonymous Coward 1473733

Nice sentiments bro but they have already proven their power in the preliminaries. The Irish, godbless 'em, probably the strongest nation mentally on the planet, were steam-rollered into a punitive re-payment system with hardly a arm raised in anger. And these guys took the Monarchy on for 50+ years with a willingness to die for a cause.
all washed out now by game shows and euro cash
 Quoting: Rose Croix



Partly agree, but this is taking the game to another level.

Greece is not East Germany Mark 2. Using the economic jackboot to try and kick the Southern Med countries into doing things the german way, just isn't going to work.

We already have massive youth unemployment across this continent. Not just without jobs, but without the real prospect of jobs on the horizon.

That is a potent combination, a whole section who feel excluded from the prospect of being able to better themselves.

IMHO it is only going to take a small spark to set this continent alight.

Again.
Anonymous Coward
User ID: 1474193
United States
07/19/2011 04:37 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
I hope you all know this is a plan of the devil
economic collapse is a stage before the devil who shows up as the "angel of light" and appears as a genuis

it was he who planned it in the first place
Luvapottamus

User ID: 1428854
United States
07/19/2011 04:37 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


^This^

No "disorderly" collapse needed. Tell the City of London and Wall Street, and the rest of the banksters to shove it.

Let THEM eat derivatives. Go back to sovereign national currencies.

Thread: GLASS-STEAGALL MOBILIZATION

The SPECULATORS are bankrupt. Force them to ADMIT IT. It's not a SOVEREIGN DEBT crisis, it's a private debt crisis, foisted on everybody because they GAVE UP SOVEREIGNTY.

Take it back.
"A human being should be able to change a diaper, plan an invasion, butcher a hog, conn a ship, design a building, write a sonnet, balance accounts, build a wall, set a bone, comfort the dying, take orders, give orders, cooperate, act alone, solve equations, analyze a new problem, pitch manure, program a computer, cook a tasty meal, fight efficiently, die gallantly. Specialization is for insects."
- Robert Heinlein, Time Enough for Love
Rose Croix

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France
07/19/2011 04:40 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
The perfect storm is brewing: the disintegration of the Euro coinciding with a US default.

Likely outcome: widespread civil conflicts.
 Quoting: Anonymous Coward 1371719

Planned to the second, I assure you!
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
User ID: 1429815
United States
07/19/2011 04:40 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
Germany will rise again
Anonymous Coward
User ID: 1473584
07/19/2011 04:42 PM
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Re: Breaking News * Urgent * Telegraph: EU On Verge of Systemic Economic Collapse
Germany will rise again
 Quoting: Anonymous Coward 1429815


Jawohl mein Herr!

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