Do you suppose that if a major currency collapses it wouldn't have ramifications beyond Europe's borders?Quote:
Originally Posted by ioan
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Do you suppose that if a major currency collapses it wouldn't have ramifications beyond Europe's borders?Quote:
Originally Posted by ioan
IMO people are talking too easy about the 'the imminent death of the euro'. You'd get the impression it can happen just like that. Tomorrow people will just go to the bank and change their euros for marks, francs, shillings etc... and euro's gone.
Yep, it's just wishful thinking.Quote:
Originally Posted by Big Ben
That's just the thing isn't it? With modern electronic Real-Time-Gross-Settlement markets software, in theory you could be trading French Francs, German Deutsche Mark, Austrian Schillings, Italian Lira, or even Syldavian Khôr, along side the Euro even though no physical currency exists. Heck the Euro itself was traded for three years before the general public ever got to hold one.Quote:
Originally Posted by Big Ben
I think if any country were to leave the Euro they wouldn't go back to their previous currency. They'd more likely create a new one, with Euros being exchanged 1=1 for the new currency, so there would be no need for mass re-pricing. They'd likely change the bank notes, but not the coins - as changing all the vending machines would be too costly.
They are going to need it, but they deserve what they get for voting for this left-wing loon.Quote:
Originally Posted by ioan
So called "left-wing loons" have left France with a train system in which some trains are capable of doing 500km/h, a motorway network of which the quality of roads is better than the UK or the US, a public health system which provides relatively open access and reasonably low costs and three largish viable car brands.Quote:
Originally Posted by Garry Walker
On the other hand, the right-wing sensible governments in the UK have had MPs rort the system for private expenses and a inquiry which may or may not suggest that the government was passing on information to private media outlets.
Exactly. And I would suspect that 'Euro' would in some way be part of the name in most cases, eg the 'Greek Euro' or something.Quote:
Originally Posted by Mark
I think that would depend on the circumstances.Quote:
Originally Posted by BDunnell
If Greece has an orderly withdrawal from the Euro, given the strength of feeling there towards the whole episode they may want as little reference to the Euro as possible even though their currency will probably be pegged to it for some time.
Worst case scenario is that the markets lose confidence entirely in the Euro, its value drops by more than 20% or so resulting in massive inflation across the Eurozone and an economic collapse. In that case I can see countries either rushing or being forced to leave very quickly. If that happens I have no idea how the new currencies will be established.