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The world must come to terms with a brutal fact: the euro’s endgame has begun

 
One*Bandit
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06/20/2012 10:55 PM
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The world must come to terms with a brutal fact: the euro’s endgame has begun
NEW YORK (MarketWatch) — Don’t be fooled by a rallying stock market, where blind hope that a dollar-deluging Federal Reserve will come to its rescue has trumped fundamental analysis these past two days. The world must come to terms with a brutal fact: the euro’s endgame has begun.

That was made clear by Monday’s gloomy market response in euro-zone bond markets to what in theory was the best possible outcome from Greece’s weekend election. With the narrow victory for the center-right New Democracy party and the prospect of a minority government that can push through an agenda that is more or less favorable to Greece’s EU creditors, the beleaguered country got to fight another day. And yet there was nothing but disappointment in the euro zone following the news, as Spain’s bond yields soared to new euro-era highs.

It was as if investors had gone into the weekend hedged for the slim possibility of a miracle. Perhaps they were holding out for an all-out majority victory for New Democracy and for some confidence-building statements of intent from both the new government and the EU that a revised rescue deal could be drafted to remove the threat of a Greek exit from the euro zone. Once that miracle didn’t happen, they unwound their hedges and reflected on what is by now the consensus view: that, no matter who is in charge, Greece will have to dump the euro EURUSD -0.28% at some point.

In effect, a Greek exit has become a foregone conclusion for many, and that makes its problems yesterday’s story. Now it is all about Spain, an economy that is almost twice the combined size of Greece, Ireland and Portugal, the three euro-zone countries that have already received bailouts.

[link to www.marketwatch.com]

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THIS is real doom.

IMHO we are alive to see the death of the Euro, talks of these times will reverberate through history...
:kk-dpd:
Anonymous Coward
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06/20/2012 11:06 PM
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Re: The world must come to terms with a brutal fact: the euro’s endgame has begun
The doom-hype associated with the collapse of the European Union project is laughable.

It will fail. Countries in Europe will revert to pre-Euro currency & continue to trade.
It will be a bumpy couple of years until things are back to the status quo, but there will be no doom for you or I.

The real doom is the collapse of the hegemony. The bankers wet dream of world domination will fizzle out & they will be destitute. They will probably go to prison.

byekitty
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06/20/2012 11:10 PM
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Re: The world must come to terms with a brutal fact: the euro’s endgame has begun
The way it should be, the unification experiment was epic fail of immense proportion!

If you look at it from another angle. Germany actually won WW2!

cruise
One*Bandit (OP)

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06/20/2012 11:25 PM
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Re: The world must come to terms with a brutal fact: the euro’s endgame has begun
The doom-hype associated with the collapse of the European Union project is laughable.

It will fail. Countries in Europe will revert to pre-Euro currency & continue to trade.
It will be a bumpy couple of years until things are back to the status quo, but there will be no doom for you or I.

The real doom is the collapse of the hegemony. The bankers wet dream of world domination will fizzle out & they will be destitute. They will probably go to prison.

byekitty
 Quoting: Anonymous Coward 10375153


The way it should be, the unification experiment was epic fail of immense proportion!

If you look at it from another angle. Germany actually won WW2!

cruise
 Quoting: Anonymous Coward 14835172



agreed on both comments but please understand, whether they revert back to pre-euro or not really isn't the main issue,
the economies will flutter as it is now but instead of having a EU currency; pre currencies will be worth less and there economies will drop like a rock. "think mexican pesos vs US dollar" pre US recession. people will starve due to worthless paper and countries will revert to 3rd world status "think Ethiopia".

of-course this is just what I think and I have no understanding or world economies or currencies. just trying to decipher worst case scenarios... hf
:kk-dpd:
Anonymous Coward
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06/21/2012 07:00 AM
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Re: The world must come to terms with a brutal fact: the euro’s endgame has begun
I agree, just like all Psychopaths and Megalomaniacs who think they can "Rule the World".

They crumble into their own buffoonery.

The real danger is the Homicidal/Suicidal nature of these Despots, as they have a tendency to take out/down the people around them.

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