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Being out of the Euro would allow France to print itself out of its debt problem. Think a few EU nations are beginning to understand what they lost when they joined the Euro. How long do the Germans wish to continue subsidizing Europe?
Sarkozy demanded a "commitment from everyone to suppport Greece...or France would reconsider its position in the euro," according to one source cited by El Pais.
Socialists unite or else!! other people's money has run out.
Someone should tell him to go long on the US $. Once Oabama is out, things will move!
Let him just try to get his nation’s gold out of Brussels!
Substantial interest penalty for early withdrawal...................
Another “benefit” of the European Union.....blackmail by the nations that have failed economies for the semi-healthy economies to commit suicide.
Bloomberg.... EUR-USD 1.24 -0.0152 -1.21 as of 3 minutes ago.
Even if you do Sarko, France will still swell with pregnant debt and eventually pop.
Euro Deathwatch Ping
Little Napoleon would never do it. He loves “Europe” too much, the idea of a united federal EU. He’d sooner cut his own balls off. Meanwhile, Merkel proved that she’s gutless by NOT dropping the Euro. Germany needs to return to the Deutsche Mark, but Sarko had her cowered, and her own people know it.
If France goes, so goes Germany and vice versa.
Angela Merkel is under tremendous pressure at home over this, and it could very well cost her her political career. I read an article last night that suggested she is preparing a dramatic political move in order to save her job and her Country’s economy.
There is no telling what the odds are for sure, but it is increasingly clear that this bailout is becoming an issue of preserving French and German National identity. If they intend to preserve that identity, they will likely act sooner rather than later in order to cut their losses.
Imagine the Euro at .50 instead of 1.25 (or so)...
It was only a few weeks ago when I expressed concern for America’s headlong sprint to socialism that people pointed to France as the model and that I had little to fear.
Which of the following actions makes the greatest contribution to a Better World?
- when they ban offshore oil drilling?
- when they ban nuclear weapons?
- when all income is redistributed so it’s “fair”?
- when a Frenchman decides to pull out?
France can chain itself to a corpse.
Have fun when the corpse goes zombie.
Germany should have called his bluff —
In case you missed it, internet rumor that Germany is about to issue Deutsch Marks again:
http://market-ticker.denninger.net/archives/2310-Is-It-Tin-Or-Is-It-Real-Deutsch-Marks.html
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Never thought I would live to see the day. These are extreme times.
I believe that eventually, this will happen.
Where are these Chinese when you need them? They promised to ditch the dollar in favor of the Euro. Well? How about it? I'm sure we got some Euros around here somewhere... any Chinese want to trade their dollars for some nice shiny Euros? Going once... going twice... awww, c'mon.