The future of the Euro and EU.

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Originally Posted by Knock-on

'Normal' in China is the 85% you mentioned. The 15% are exceptional.

Basically, what the majority of China and India are is what is 'normal' for this world. We have a very abnormal and privileged existence in Europe; even Greece!

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I think you meant to say, especially Greece.

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Originally Posted by Roamy

T>I>R>E.s just print more money and move on and don't screw up Italy

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They've been doing it to themselves for a long time, without any external help.

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Originally Posted by 555-04Q2

No, not all of us. People who can't afford what they want to buy are living on credit.

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Exactly. Never took a credit. Then again I have to pay for other people's iresponsibilities, so maybe I was doing it wrong?!

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Originally Posted by 555-04Q2

No, not all of us. People who can't afford what they want to buy are living on credit.

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And sadly people like us are very much in the minority.

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Originally Posted by BDunnell

That is a separation between the UK and the Eurozone, not the UK and the EU.

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true but UK is not the only EU country that still have their own currency. Both Sweden and Denmark have kept their currencies,
so he should have mentiioned them as well in that case.

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Originally Posted by BleAivano

true but UK is not the only EU country that still have their own currency. Both Sweden and Denmark have kept their currencies,
so he should have mentiioned them as well in that case.

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Of course.

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Originally Posted by BleAivano

true but UK is not the only EU country that still have their own currency. Both Sweden and Denmark have kept their currencies,
so he should have mentiioned them as well in that case.

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It was a specific question regarding the UK.

OK! so the new PM's of Italy and Greece are selected amid mild euphoria. Next comes the implementation of austerity measures which will NOT be accompanied by euphoria but rather with demonstrations. When the demonstrations will turn into riots and looting and burning of cars remains to be seen; something that I hope will not eventuate.

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Originally Posted by Valve Bounce

OK! so the new PM's of Italy and Greece are selected amid mild euphoria. Next comes the implementation of austerity measures which will NOT be accompanied by euphoria but rather with demonstrations. When the demonstrations will turn into riots and looting and burning of cars remains to be seen; something that I hope will not eventuate.

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Don't plan any holiday in Greece or Italy for the next one or two years, that it shall be OK and cheap.

I am becoming increasing concerned about this whole arrangement. This morning's news was about the Greeks becoming very unhappy with the austerity measures and will protest on Friday. What these protests will develop into is anybody's guess. When I was working in Cyprus, the Greek Cypriot resident partner of the firm explained to me that Greeks love a tragedy - and no matter what the situation was (like the Turkish invasion of Cyprus) they simply had to push the envelop until it resulted in a tragedy. How far the Greeks will push this remains to be seen; is being kicked out of Eurozone the tragedy they are aiming for?