A Eurozone Break Up?

Reuters ^ | 11/26/2010 | Noah Barkin

[pinstripes715]

Contagion spreads from Ireland to Portugal and then to Spain, forcing European leaders to exhaust the $1 trillion bailout fund they set up only half a year ago to defend their ambitious single currency project.

[freedumb2003]

The only people surprised by this are the liberal elite Ruling Class in the EU (and their sycophants here in the US).

Anyone who has ever run a lemonade stands knows this was never going to work.

[Rashputin]

Breaking down the EU has been the real goal Soros has had all along. His screwing the US was mostly to make sure they wouldn't be able to shore up Europe once the numskulls over there realized they had no choice but to change. He's short the Euro so much he's borrowing lunch money from his butler til his big win comes in.

[353FMG]

The searching for a scapegoat will now begin.

[blackdog]

FWIW, my wife spent the week in Wales, Amsterdam, and Brussels. Before leaving, we bought a bunch of Euro's here stateside and some travellers checks. Nobody would accept either for anything. The only currency accepted at all during her stay regarding retail purchases were US Dollars and the British Pound.

I have no idea what that means, but that's of the moment about six hours ago.

[steveab]

“....address investor concerns about fiscal and economic imbalances.”

Like forcing Germany to move factories to Greece. Spread the Wealth.

[fuzzybutt]

It will cause short term problems but the best thing that the Euros could do is kill the euro.

[hinckley buzzard]

This isn't Soros's doing. He doesn't have to. The Lifespan of the euro was limited from the start. Basically, the Euro was unnecessary. It was instituted not as a currency but for the purpose of enforcing compliance and a spurious unity within the EU.

It was a fantasy to think that when it really began to hurt, the healthy economies would sacrifice themselves for the bureaucrats of Brussels. The Euro in its present form is on borrowed time.

[The Comedian]

"Economic Holocaust" ping.

Moderate volume ping list watching the slow motion Economic Holocaust.

FReepmail me if you want on or off
The Comedian's "Economic Holocaust" ping list...

Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

[FromLori]

Merkel tried to tell them that the only thing to do was let the banks/bondholders realize their losses but that idea wasn’t well received.

http://www.guardian.co.uk/commentisfree/2010/nov/22/ireland-bailout-eu-investors-bondholders

Instead they continue the charade by forcing people to foot the bill for the banks and the bondholders like they are doing in Ireland.

Up to €50 billion—nearly $50,000 for every household in the Emerald Isle.

Read it all to see the lies of the banks/politicians..

http://online.wsj.com/article/SB10001424052748704506404575592360334457040.html

The Irish government has effectively nationalized the nation’s biggest banks by guaranteeing their debt, which would be akin to the U.S. government taking over Citigroup, Bank of America, J.P. Morgan Chase and Wells Fargo.

That means the Irish government is also on the hook for the losses those banks endure—which have risen far beyond initial estimates, and may have a lot farther to go. So far, the Irish government is obligated to cover losses amounting to 175 percent of Irish GDP

http://finance.yahoo.com/news/Why-the-Irish-Crisis-is-Going-usnews-4028366968.html?x=0

(Just like the US forced to bail the banks out). So they kick the can down the road until the markets force the debt out into the open(also just like here)will we be forced to bail them out again? Where will it end the Worlds Greatest Depression?

Banks Face Another Mortgage Crisis

http://finance.yahoo.com/banking-
budgeting/article/111374/banks-face-another-mortgage-crisis?
mod=bb-budgeting

Shouldn’t those banks be allowed to fail like all other business’s? Why did the banks create those Liars Loans they didn’t share their profits we shouldn’t share their losses.

[Myrddin]

My last trip to Wales was in April 1999. The Brit
pound was $1.63 USD. Germany was still using
Marks on my last visit. It must be disconcerting
to have traded USD for Euros and have them not
accepted. The Mexicans won’t accept US dollars
for gasoline purchases in Tijuana. Pesos only.

[hosepipe]

A crisis is a terrible thing to waste..
I'm getting the feeling somebody is not wasteing this one..

Many crises coming who is tracking the beneficiary's..
Because probably the beneficiary's are the instigators..

Soros is brain hemorrhage where is the FBI?...

[Moltke]

Wales - ok, that’s UK territory. But the Netherlands and Belgium not accepting euros? Dude, someone was having a laugh at your/your wife’s expense. The euro is the official currency there, and it’s not like we’re talking about some third-world tin-pot dictatorships here (....yet). Just pull up some ebay offerings from those countries and look what currency is asked for...

[SaraJohnson]

I sure hope the EU monster breaks up. What a crappy, globalist idea.

[blackdog]

Just telling you what took place. My wife is a very brilliant researcher, but like most of those folks, can't navigate the world around them very well. I'm sure there are more facts to uncover in her story. When she returns from trips abroad, I get two tracks of conversation. The first being banter about non-ionic debris and technical talk which is way over my head. The second is recaps of confusion between her and locals.

This trip also included displeasure with the stock inside lunchroom vending machines in the UK. Apparently sliced boiled egg and lettuce sandwiches are the culinary rage at the moment.

Just passing on that non credit card retail purchases from one EU to another involving currency were problematic for her.

[Moltke]

Hmmm...all I can say is that I’ve never encountered such a situation in any euro-zone country I’ve visited. See my tagline.