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AHeneen
02-28-2009, 06:03 PM
Expert predicts Eurozone collapse

28 February, 2009
Link (http://www.russiatoday.com/Top_News/2009-02-28/Expert_predicts_Eurozone_collapse.html)

Hayman Advisors LP, famous for its mortgage crisis prediction, now is warning of the imminent collapse of the European monetary union.

The company is known to have already earned U.S. $500 million by betting on the U.S. mortgage market collapse, and now it is Europe’s turn.

“The argument that the Euro zone will find a solution contains some sense if the assumption is that the situation isn’t that bad,” Richard Howard of Dallas-based Hayman was quoted by the Bloomberg agency as saying. “But the more dire it gets, the less are the consequences of departing from the euro.”

According to Howard, it is Germany that might first decide to stop bailing out their neighbors. This, in turn, might lead to defaults, which could make the country renounce using the euro.

Some bank experts agree with the predictions and say that Germany might actually refuse a bailout in its election year.

A Societe Generale report said that the German government, facing September elections, will be forced to spend more money at home and might refuse outside requests for help.

megimoo
02-28-2009, 07:55 PM
Expert predicts Eurozone collapse

28 February, 2009
Link (http://www.russiatoday.com/Top_News/2009-02-28/Expert_predicts_Eurozone_collapse.html)

Hayman Advisors LP, famous for its mortgage crisis prediction, now is warning of the imminent collapse of the European monetary union.

The company is known to have already earned U.S. $500 million by betting on the U.S. mortgage market collapse, and now it is Europe’s turn.

“The argument that the Euro zone will find a solution contains some sense if the assumption is that the situation isn’t that bad,” Richard Howard of Dallas-based Hayman was quoted by the Bloomberg agency as saying. “But the more dire it gets, the less are the consequences of departing from the euro.”

According to Howard, it is Germany that might first decide to stop bailing out their neighbors. This, in turn, might lead to defaults, which could make the country renounce using the euro.

Some bank experts agree with the predictions and say that Germany might actually refuse a bailout in its election year.

A Societe Generale report said that the German government, facing September elections, will be forced to spend more money at home and might refuse outside requests for help.

That makes a lot of sense as the German people are tired of being 'screwed' by the EU for their frugal ways .

Europe Bids Adieu to Common Financial Crisis Approach

The idea of an EU rescue fund to address financial crisis symptoms in Europe is off the table. A summit meeting on Saturday of Europe's largest economies may end up being little more than a sharing of national strategies.
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Indeed, with France and Germany both distancing themselves from an apparently Dutch plan to set up a €300 billion ($415 billion) EU rescue fund, it is unclear just what Saturday's meeting -- which will see leaders from France, Germany, Italy and Britain meet in Paris along with European Central Bank head Jean-Claude Trichet and Luxembourg Prime Minister Jean-Claude Juncker -- might accomplish. Plus, according to a Thursday evening report published on the Web site of the Financial Times, EU countries not attending the meeting have said the select group has no authority to take decisions for the entire 27-member bloc.
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In Switzerland, UBS, which has been hit hard by the US crisis due to its overexposure to the American subprime mortgage market, announced it was cutting 2,000 investment banking jobs. The cuts come in addition to the 4,100 other employees the bank has cut in the past year.
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"They All Brought American SubPrime mortgage 'paper' When the US Housing was 'hot' Because Barney Franks and Chris Dodd were 'propping up the SubPrime market
but when the 'Housing bubble' burst they all lost their shirt .Atta Boy Clinton and the rest of Idiotic Progressive Congress !" At least know they know how to sink the worlds finantial markets ."
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Irish voters have thrown the EU into disarray by rejecting the Lisbon Treaty, the government conceded.
snip
All 27 European member states have to ratify the treaty for it to go come into force next year. So far it has been approved by 18 members including Britain, but Ireland is the only country to put it to a public vote.

The leaders of the 26 other member states watched with dismay as Ireland voted “no”, a decision that will inevitably lead to much infighting and bickering across Europe.
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They really don't care how the Irish vote went they will ignore it or stage another late at night without public support !"
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European Treaty: Irish plan to get around 'no' vote
Officials in Brussels are working on plans to ensure that the European Treaty is still implemented elsewhere if Ireland votes against it in the referendum.
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http://www.spiegel.de/international/business/0,1518,582072,00.html