Friday, May 14, 2010

President Nicolas Sarkozy 'threatened to pull France out of euro'



It's happening. This is the beginning of the end of the euro.


4 comments:

googleheim said...

RE: EURO ZONE

ATTENTION: WARREN MOSLER

THEY SHOULD APPROACH THIS SIMILAR TO OBJECT ORIENTED PROGRAMMING SUCH AS C++ :

THERE SHOULD BE TWO CURRENCIES -

A. GLOBAL ( FOR EURO ZONE & BEYOND)
EURO DOLLARS FOR COUNTRY TO COUNTRY TRANSACTIONS

B. LOCAL ( EACH COUNTRY BRINGS A EURO WITH A FLIP SIDE WITH THEIR OLD CURRENCY )

LOCAL WILL BE A SUBSET OF THE GLOBAL AND THIS WILL ALLOW ADHERENCE TO THE MAASTRICT TREATY AND THEN ALSO CIRCUMVENT IT LOCALLY.

SIMILAR TO DECLARING VARIABLES AS PUBLIC OR PRIVATE.

then we can put China back into it's place - Krugman was right that China's savings glut hurt Europe and the USA

China's saving glut did it

China's saving glut did it !

**//QED\\**

TomatoBasil said...

My Prediction is you are right: The euro fails. Panic. We move to less than Parity. Jean Claude, Angela and Nicolas step in. Maybe even Ben or Larry. Brussels is burning so they amend the Euro treaty. Countries leave. More flexible membership allowed. Central Banks, Banks, Hedge Funds, Pensions stop divesting Euro Reserves. Forex Speculators cover shorts. Cheap Euro Assets create massive demand for the Euro. Markets Rally. PIIGS issue boat loads of new debt to grow their private sectors. Angry public clamps down on Stock and Bond and Forex Trading and blames these "speculators." for the poorly designed Euro system. Politicians come out smelling like a rose. Just saying.

Brantley said...

My take is Germany says, blow me. Sarkozy follows through and punches out as France financed Greece and their banks fail with out full Euro bailout and rule changes. England says, I told you so, but is stuffed because they followed the US game plan. The middle east pushes all their spook buttons and the country with the strongest military wins.....if used properly. A general bad outcome for all.

googleheim said...

Is there something linked to the USA to be concerned about if the Euro falls out over here ?

Will they run to the dollar and make it stronger ?

Are they purposefully devaluing their Euro so that they can increase their exports?

Sarkozy et al are all good actors after all ...

If things are so bad, why is there not a big fire sale on foreign owned assets ?

How come USA companies ( Warren Buffett) not scooping up assets ?